According to a 2019 analysis by Gambling Capital, the gambling market is expected to reach an astonishing $550 billion by 2025. Industry leaders like Evolution believe that online gambling will be the main driver of this growth. But how has advertising played into this transformation? Let’s dive into the data to understand better the forces shaping the gambling industry.
Advertising Reach and Frequency
A UK Gambling Commission study revealed that 6 in 10 consumers encounter gambling adverts or sponsorships at least once a week. Online survey respondents reflected that 85% have ever seen gambling adverts or sponsorships, 83% have seen adverts, and 78% have viewed sponsorships.
Demographic Focus
Advertising is seen by all age groups, but younger adults (18-44) are more likely to encounter online gambling advertisements. Around one in six adults follow gambling companies on social media.
Effectiveness of Advertising
According to the Gambling Commission, just over a third of gamblers in the past 12 months claimed that advertising prompted them to spend money on a gambling activity. This suggests a direct influence of advertising on gambling behaviors. In addition, data from Income Access indicated that 5% to 10% of consumers who have engaged with an iGaming brand’s site are more likely to convert than a user unfamiliar with the offering. This highlights the efficacy of retargeted media buys in consumer acquisition efforts.
Programmatic media buying channels further enhance iGaming partners’ acquisition and retention rates, suggesting a move toward more personalized, targeted advertising.
Exponential Growth in the United States
In the United States, online gambling advertising spending has almost doubled from 2021 to 2023, according to Statista. This sharp increase reflects the industry’s aggressive push to capture market share in a country where online gambling is seeing legislative changes and broader acceptance.
In-Game Advertising
In the next 12 months, over 81% of media buyers plan to maintain or increase in-game advertising expenditure, with more than 83% expressing keen interest in this format by 2025, according to a report by Admix.
Some say iGaming is one of the most lucrative verticals in media buying. It offers immense potential for businesses to capitalize on the growing popularity of online gaming and gambling. With the rapid advancements in technology and the increasing accessibility of iGaming platforms, this industry has witnessed significant growth and innovation in recent years. Let’s see what happens, work hard and… stay tuned to learn more about other verticals!
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