Skrill-Insights: The rise of mobile betting
The world of gambling is in full swing, especially when it comes to mobile betting. More and more gamers are switching from desktop to mobile and betting agents in particular are recording massive increases in this form of betting.
UK bookies William Hill says one third of its total online wagers are made via mobile and predicts an increase of 40% in mobile betting by the end of the year. Betfair also recorded a rise in mobile betting of 114%.
Mobile gaming is forecasted to reach $4.8 billion globally, but to take full advantage of this opportunity it’s important gambling firms deliver innovative ways to pay that are fast, simple and secure.
Digital wallets and paying via mobile phones are becoming increasingly popular with gamblers, with digital wallet adoption doubling to over 30 million end users in just two years.
Digital wallets offer that fast way for gamblers to upload, deposit funds and place bets and are instrumental in the growth of micropayments. If a gamer wants to make a bank transfer of only £2 in order to place a new bet or continue their online game, the payment would traditionally take three days to process and ruin the experience.
With an instant balance payment through a digital wallet, the whole deposit and payment process is much more convenient and more economical, benefiting both the consumer and gaming site.
Research commissioned by Skrill in 2012 revealed the most highly regarded benefits of mobile payments are that they are quick and easy, emphasising this has become a very clear-cut consumer expectation.
With the rise of mobile betting comes new, innovative ways to pay and Skrill’s offering of a one step payments is a highly effective way of engaging users and increasing deposits on mobile gaming sites.
Betting sites like the UK’s bet365 have made depositing cash and making bets really simple by teaming with Skrill’s 1-Tap option, which was built specifically as an app for bets.
Streamlining the deposit process into one step makes it significantly easier for gamblers to add funds and continue with their experience on the site, rather than having to re-enter login details or credit card information every time.The easier a gaming site makes it for their customers to deposit means greatly improved conversions and revenue.
Mobile betting future
As more gamers adopt an increasingly digital lifestyle, electronic payment systems will become the norm, particularly via mobile. Handling cash and using traditional bank transfer methods is expensive and slow, and online payments processing must reflect this digital trend.
With options such as Skrill 1-Tap, there’s no need to worry about losing your wallet when it comes to digital, as more ways of non-credit payment methods come to the fore.