The gambling industry is a competitive place, with dozens of bookmakers competing for your business, and hoping to entice you into utilising their services. Some people look at bonuses and offers sceptically and believe there must be a catch of some kind, as bookies have no reason to give away money for free. But is this truly the case? Are bonuses a tactical ploy from bookmakers to make you part with more money? Or are they a critical marketing strategy, as competition is so fierce in the industry? Let’s take a look at why bookmakers go to great lengths to promote betting offers.
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It Allows Punters to Conduct Some Market Research.
There are so many bookmakers for punters to choose from these days that free bets and bonuses offer gamblers the opportunity to try out a particular company for a relatively small amount of money. Usually, free bets come in the form of bet x, get y, just like the current Betfred offer that offers customers £30 in free bets when they deposit and bet only £10. Essentially, bookies are willing to make a small potential loss on the free bet, so new customers sign up for their website and potentially place more bets in the future.
They Need to keep up with the Competition.
Bookmakers have little choice when offering signup offers and promotions, as it’s really the only way to attract new customers. Because of the sheer amount of online bookies, customers are spoiled for choice when it comes to offers. If they visit a particular website and don’t see an offer that appeals to them, they will simply go elsewhere and place bets on a competitor’s site. While not all signup offers are the same, they tend to offer a similar amount of value to customers, making them appealing.
It helps with Customer Loyalty.
Generally speaking, it isn’t in the best interest of punters to stay loyal to one bookmaker over another. This is because they risk missing out on the vast array of sign up and existing offers available across the industry, so having multiple accounts provides them with the best value. That being said, bookies create existing customer offers to try and encourage punters to stay on the same site and spend their money in one place. Existing offers are different to free bet offers and are often dependent on a particular factor. For instance, Betfred is currently offering their casino customers a 50 Free Spins offer. If a gambler thinks one site, in particular, offers excellent value, they’re more likely to spend their money with that company.
It makes their offer more Appealing.
Ultimately, the job of a bookmaker is to make money from customers while providing nothing in return. Such a business model would struggle to take off in many sectors, but the chance of winning is so enthralling for some people, which is why they stake their money to be in with a chance of turning a profit. To keep things interesting for punters and to provide better value, betting companies create site-specific offers that encourage people to enjoy their service and stay for longer. If they don’t promote their signup and ongoing offers and promotions, they will struggle to retain their customers over a more extended period of time.
Overall, bookmakers promote their offers because it’s an essential part of marketing, as it attracts new customers and helps them retain their customers in the long term.
