The Convergence of Casino Gambling and Sports Betting in the Digital Gambling Era
The average casino gambler is often not someone who bets on sports, the same is the other way. And even if they do, it’s often with another provider. The reason is simple: online casinos and sports betting sites generally ‘live’ separately, with many operators offering one or the other.
In 2023, however, the situation is changing rapidly. We’re seeing a clear convergence of casino gambling and sports betting in this newfound digital gambling era, where users are opting for iGaming options en masse.
Online Gambling is Winning
Land-based casinos are almost at the point of having to raise the white flag. Users are increasingly turning to digital equivalents, with online casinos providing several key advantages:
- Convenience. Let’s face it, the thought of gambling in a black tie like James Bond is enticing, but when it comes down to it, we’d rather sit in our comfortable clothes and enjoy gambling from the comfort of our homes. Yes, land-based casinos are still popular for special occasions, but regular daily visits are on the out with many users.
- Instant withdrawals. Online casinos were previously plagued by slow payout rates, whereas now a large proportion of casinos offer instant withdrawals, which is far quicker than the manual process at land-based establishments. And even far more secure. With online casino instant payments, you can stay anonymous, whereas, in physical establishments, you are at risk of getting unwanted attention when you gain big wins.
- A larger selection of games. Whether you want to play the latest slot or old-school roulette, online casinos will give you thousands of options. You’ll never get bored. Live-streamed versions of games are now standard as well.
This trend is great news for online casinos and sports betting, as it opens up the option to sell to a wider range of users. For the operators that can leverage this development in the industry, it’s an excellent opportunity.
Overviews of Sports Betting in Land-Based Casinos
Put simply, it’s often not possible to place a bet on the big game when you’re at a land-based casino. And even if you are given that option, the number of available bets is slim at best. You’d be lucky to see anything other than a win-loss market.
For example, even when you go to casinos in Las Vegas, the sports betting section is extremely limited. Unbelievable fact: at the Luxor Hotel and Casino, one of the leading establishments in the capital of gambling, it is not possible to place an in-game bet on a sporting event.
Online Casinos + Sports Betting = Lots of Consumer Choice
The primary benefit to the online gambler is that they can access any market they want, and any game they desire to play. All they need to do is find their favorite provider and sign up, you can often be up and running with an account in a matter of minutes.
This is far more convenient than land-based establishments, where the existing gaming options are far more limited. Even the most advanced casinos of Las Vegas and Macau will offer only a fraction of what the average online casino has on the menu.
In terms of sports betting, same thing. Bookies in places like England or Nigeria will offer a range of betting markets, but the odds are not always ideal. And niche bets, like the first yellow card or a number of corners, are not available. For those who want to play slots while watching the horse races, the option is often a basic slot machine that looks like it belongs in the 1980s.
Cross-Marketing Gambling Products
The clear positive of the convergence of these two forms of betting is that operators can benefit from cross-marketing at a very low cost. Both the casino and sports betting markets can drive traffic to the other, leading to increased revenue and new users.
With betting companies realizing that there is a lot of potential in this strategy, cross-promotion between products is increasing. Brands are also investing in advertisements on social media platforms; for instance, a user who usually gambles on the Premier League will start seeing ads for roulette, blackjack, and slots from brands they already trust.
Outlook for 2024 and Beyond
The convergence of these two betting markets will continue to develop in 2023. Going forward, we expect companies to merge, acquire, or invest in expanding operations.
With the digital space offering the perfect milieu to dabble in other markets, advertise using low-cost options, and easily drive users to/from casino games to sports betting, it’s easy to see why operators are leveraging the opportunity.
