Is it possible to compete in the Online Gambling Oligopoly?
Some industries offer ample opportunity to succeed if you have the correct basic ingredients in your repertoire. Whether that’s a small and efficient work force, an abundance of client demand, or a product that doesn’t have a sell-by date some businesses just work.
On the other end of the spectrum some business models are harder to decipher. The online gambling industry is a fairly new industry as far as trade and commerce goes with the boundaries not being completely ingrained so far. With online gambling being worth just under £5bn in the UK it’s only set to increase in prominence.
Furthermore, the accessibility of gambling onto our computer screens, mobile phones, and tablets has changed the connotations and reduced the stigma that is often associated with gambling. Although strict responsible gambling guidelines remain for good reason, the industry can now target demographics that wouldn’t often be associated with this area of recreation.
From a business perspective this creates many unchartered territory which you would think would only be a good thing, which it is if you know what you’re doing.
Breaking the walls of the Oligopoly
There are a number of factors at bay when attempting to grow an online casino, some of these are predetermined and some are down to you to manipulate. The Gambling industry seems on the outside an easy way to make money, the old saying ‘the house always wins’ being the mantra of many an external force.
With great propensity to make money comes significant competition in an industry where SEO and google search engine rankings can be the yardstick for success or failure.
It could be argued that the industry is dominated by 4 or 5 big companies. The likes of Ladbrokes, William Hill, Sky Vegas, or Coral.
These are companies who’ve been in the game a while and by definition of theirs names exist at the top of the pile through mass domain authority that creates immovable forces at the top. This oligopoly that exists at the top of the pile is a hard nut to crack.
SEO, Marketing, and Content
For the smaller slot platforms and casinos the most cost effective and competitive way to seize the market is through an efficient SEO and Content strategy. If you can build enough authority through a strategy of measured content and outreach then you can certainly challenge with the top dogs.
The nature of the industry relies wholly on google rankings with the exact opposite of a trickle-down effect occurring. If you’re at the top you receive the bigger proportions of the business and if you’re on the 5th page you are only receiving less than a percent of gambling traffic. Almost a microcosm for society where the top remain at the top and the bottom remain at the bottom. With a precise an efficient SEO strategy there’s no reason you can’t compete with the market leaders.
Building a Brand
The likes of William Hill are established names in the industry, almost household names. Finding the sweet spot between SEO strategy and building a relationship with a customer base or a demographic is the ideal compromise for new casinos in the industry.
Scott Manford, CEO of Wizard Slots said: “Here at Wizard Slots we seek to find the balance between technical strategies such as SEO, content marketing, and data analysis while also hoping to provide a more human, approachable face for customers to get on board with.”
“As time has went on and Wizard Slots has continued to grow we have noticed that the two go hand in hand and complement each other like for like. As your domain authority and presence in the market increased, so does the trust of customers and their loyalty to your brand.” View his website here.
Of course, there’s many variables at bay when competing with the fierce oligopoly that exists at the top of the online gambling pyramid, but these variants can also work in your favour and help you topple the pyramid through precise strategy and SEO methods.