Global online gambling wagers to approach $1tn by 2021

The value of online gambling wagers will soar from just over $550bn (E490bn) this year to nearly $950bn (E850bn) by 2021, according to new data from UK-based Juniper Research.

[dropcap]J[/dropcap]uniper’s latest research found that gambling activities were increasingly migrating to the online environment, with the majority of net growth attributable to users of mobile channels. It also argued that new technologies such as virtual reality would provide a further stimulus to the online casino sector, which is expected to account for just under half of wagers by value in 2021.

User engagement goes a long way towards drawing in return business

The research argued that within an increasingly consolidated and maturing sector, providers had intensified their focus on securing customer loyalty. It observed that leading players were exploring a range of options to achieve this, with Ladbrokes offering a rewards scheme and the Rank Group’s Grosvenor business providing cross-channel memberships.

“User engagement goes a long way towards drawing in return business,” said the study’s author, Lauren Foye. “Providing features such as news and media on favourite teams, as well as personalised offerings based on past betting activity, enables greater engagement and is likely to reduce churn.”