Great Britain plays a decisive role in the global iGaming industry, second only to the United States in terms of profitability. It’s widely acclaimed for its highly developed, strictly regulated, and groundbreaking gambling environment. According to the latest data, the online total Gross Gambling Yield Quarter 4 (January to March) was £1.45 billion, which represents an increase of 7% from the previous year. The aggregate volume of wagers and/or spins increased by 5% Year-on-Year, reaching a total of 25.2 billion. The average number of monthly active accounts for the quarter rose by 2%, totalling 13.5 million.
Betting and gaming is an economic success story. The black market is small, which translates into the fact that the regulated iGaming market, primarily overseen by the Gambling Commission (UKGC) through the Gambling Act 2005, is successful in attracting players and discouraging them from using unregulated alternatives. Sports betting is the leading type of gambling activity in Great Britain, followed by online casino games and bingo. Given the high level of competition characteristic of iGaming, operators must work hard to differentiate themselves and build a loyal customer base to succeed.
In iGaming, Strategic Brand Collaborations Are A Potential Catalyst For Expansion
In the old days, it would have never occurred to us that gambling would evolve from a niche offering of a handful of casinos into a self-contained ecosystem. The road to the future has been a long one, with many twists, turns, and pitfalls – even now, we’re a few steps away from those first pioneers. For decades, companies have been working together, finding clever ways to expand audiences. By way of illustration, Unibet signed an agreement with the system and games developer Play’n GO to offer players new and exciting games, especially on mobile channels.
With the right strategic partnership, you can make your iGaming business better positioned to deliver the services and experiences clients routinely demand if they’re going to stick with you in the long run. Before entering a partnership, it’s crucial to assess compatibility, define roles and responsibilities, and establish a clear legal framework. iGaming brand collaboration can take place in many ways, including but not limited to joint marketing, co-branding, and cross-promotion. Only when an operator manages to improve client retention and reduce the attrition rate do they come up on top.
X Partnerships To Drive Your iGaming Business Forward And Quickly Increase Profits
Not all collaborations serve the same purpose or provide the same benefits, so analyse your potential partner’s operational processes and skills to formulate an action plan that focuses on inclusivity, sustainability, and long-term well-being. Here are some examples of game-changing iGaming partnerships that help operators succeed.
Collaboration To Deliver Superior iGaming Experiences
Many organisations implement loyalty programs into their business models to reward and retain clients, which typically work as a points system, where you receive cashback or exclusive access to new features. The rewards typically flow from the supplier to the client. For example, BetConstruct has advanced The Last Battle Universe, the first B2B loyalty system in iGaming, with points earned based on invoiced amounts, the duration of partnerships, timely payments, and referrals of new partners. Operators can brand and design loyalty levels and rewards, therefore creating personalized and dynamic experiences.
While not a full-fledged brand partnership, a well-executed B2B loyalty system can enhance the operator’s brand image in the eyes of its customers, making it the preferred choice. The structured program nurtures and deepens relationships to the point where they evolve into a more strategic brand partnership. The Last Battle Universe offers complete support for Fasttoken (FTN), the native token of Bahamut and the utility token of the Fastex ecosystem. It facilitates seamless transactions and exclusive promotions. Operators can heighten the likelihood of engaging players in the long term through casino loyalty programs and sports betting.
Scaling Your User Base With Affiliate Programs
More often than not, online casinos, sportsbooks, and other gambling platforms partner through affiliate programs, a type of business cooperation based on performance. An affiliate receives a commission for each player they refer to an iGaming website, but the amount they receive depends on the individual’s participation in the game. Examples of conversion flows for this vertical are Cost per Lead, Cost per Action on a First-Time Deposit, and Revenue Share. Since the affiliate publisher advocates for your products and services within their existing circles, new users will be less wary and more trusting of your brand.
Knowledge-Sharing Partnerships For iGaming Businesses
Start-ups are a key part of the iGaming industry, yet new businesses face numerous hurdles, mainly stemming from a lack of established infrastructure, limited resources, and the need to build a customer base. Established gambling businesses may want to help new ventures as a way of supporting the industry, provided they get something from the knowledge-sharing initiative. For example, a casino platform that is in its early stages of development and growth faces tremendous challenges, from acquiring players to navigating complex regulations. Companies that have been operating for significant periods in the iGaming ecosystem can provide invaluable support.
Generally speaking, scale-ups move quickly due to the need to capture market share and the pressure to adapt to changing conditions. Relying on “me too” offerings leads to obscurity, so operators do their best to cut through the noise – innovation isn’t limited to the player-facing side; it’s also about streamlined backend processes, improved efficiency, and reduced costs. If you implement an idea you can’t turn around fast, the large business will wait to see if it’s successful prior to committing to it. Whether you find your partner through networking or direct contact, agree on what you can expect from one another.
Wrapping It Up
The iGaming industry in Great Britain is experiencing significant growth and evolving rapidly, but competition often accompanies success, making the market highly saturated. While individual effort is important, isolated endeavours are rarely sufficient for achieving growth. Enter into strategic partnerships or collaborations to build your capacity and find innovations that you could adapt to your market.
