One of the things that casinos need in order to continue earning is to get people to continue patronizing their business. This is a pretty tall order considering that there are lots of other casinos that want the same thing. So, how do they do this while competing with others just like them? The secret is in innovations.
For any business to thrive and get a big chunk of their target market, they need to present their customers with something that others don’t have. If this is too difficult to achieve, casinos can go another way and that is to improve on what their competitors have. In short, they have to be better than the other casinos they compete with.
Examples of Innovations That People Loved
Gamification and Arcade Style Slots – Slot machines are pretty standard across many casinos - you feed the machine a coin, you pull the lever, you cross your fingers and hope that you get a winning combination. While most people are used to this kind of action, there are some who get tired of the repetitiveness of such a game. This is where gamification and arcade-style machines come in.
What exactly is gamification and what do these newer slot machines offer? Gamification is when you are given a task to complete for bigger winnings or extra prizes. This can include lighting up all reels with the appearance of a specific symbol on the reel. The arcade-style gaming can come in when you complete the gamification challenge of the machine.
The arcade-style gaming can include shooting down items, completing a puzzle, and other similar tasks. These machines are made to attract newer players who look for more than just the usual gameplay that traditional one-armed-bandits offer. Millennials and Gen-Z players along with some Gen-Xers are the target of such an innovation.
Stadium Style Gaming – A lot of new players love the feeling that they are competing with other gamers. This is where this innovation comes in. This can come in a few different forms and can be used for a few different games. One such game that works well with this innovation is video poker. Another is jackpot slot gaming.
How is this staged? People are placed in an area that looks like there is a competition going on. The prize pot for the game is flashed in large numbers on top of the row of machines. This makes people feel like they are trying to compete with others in getting the ever-increasing jackpot that they see flashing above them. This makes the game more exciting than it actually is. This is what a lot of casinos do when they have progressive jackpot games on the floor.
E-Sports Gambling and Gaming – Another innovation that casinos are trying to cash in is the competitive nature of E-sports. Whether they are trying to get people to bet on certain top players or getting them to actually compete against any of these other gamers, this innovation is one that is getting a lot of attention. Those who look to make a name and a lot of money in gaming usually end up practicing like crazy before hitting these competitive games. The target market of such an offering is younger players and older players who love video games.
Challenges That Come with These Innovations
While coming up with fresh ideas that will attract and retain customers is already a challenge in itself, there are a few others that come part and parcel with this. One of the challenges that casinos have to overcome is government regulation. Before they can launch anything new or improved to their customers, they have to think about licensing. They also have to think about the regulations they have to comply with in the area where they will be launching such an innovation.
Another challenge that these casinos face is the use of innovation to attract more players. The use of social media to attract future players is one such example of this. Since most, if not all, casinos have to protect the privacy of their gamers, allowing video streaming during gaming is often prohibited. This eliminates a portal of advertising that is actually free and reaches a lot of possible players.
Letting people post images of tables and streaming casino games live can actually attract a lot of new players. The problem is, as mentioned earlier, protecting the privacy of those who want to play anonymously. One way they can take advantage of the reach of social media, particularly the accounts of so-called influencers who have thousands and even millions of followers, is to designate areas where people can do this. Creating separate areas for those who don’t mind getting caught on camera gambling, and areas where streaming and picture taking are not allowed, may be the solution to such a dilemma.
Why Innovation is a Must When It Comes to Casinos and Gambling
As mentioned earlier, innovation is a must for most casinos since the new market that these establishments want to attract are pretty fickle. The new players that casinos want to cater to are members of the generation where new things are always popping up and catching their attention. This is the reason why most of the things you see them engaged in are quick and hyped.
Examples of what this generation is attracted to and engaged in include videos that are shorter than five minutes, list-style articles, top ten lists of things they are interested in, and other similar innovations. In other words, the newest market casinos are aiming to cater to are those who want new and quick. To do this, casinos need to shift their thinking and embrace what these probable customers want.
If casinos don’t adjust to what this market wants, chances are, they will soon see fewer gamers coming to their tables and machines. Their current market is sadly growing old and the games they are used to are not what new players like. Innovation is a must if casinos don’t want to fade into oblivion and to go the way of the dinosaurs.
