Thanks to the increasing digitization of society, improved trust in online betting services, and slowly relaxing legal statuses worldwide, the online gambling industry is booming. According to Statista, the online betting industry as a whole is expected to grow from a 2017 market valuation of $45.8 billion to an estimated $94.4 billion in 2024.
A significant part of this growth is being driven by Live online Casino gambling. While this means big opportunities for online gambling providers and operators, the complexity of delivering this service throws up a series of barriers that need to be overcome. Several of these challenges can be grouped under a single topic: live video streaming. Without video metrics, how do online casinos ensure they adequately deliver their games to their end users? How can they avoid lost revenue due to low quality streaming? And how can they optimize their service in a way that allows them to make the most of this golden opportunity?
This article will explore the role of online video analytics in the delivery chain between online casinos and digital gamblers, identifying and explaining the real-time streaming video metrics that stakeholders in the online gambling industry are using to capitalize on the growing demand for live digital casino experiences on a global scale.
The delivery chain of a live casino is, in most cases, separated into two entities: the provider of the online gambling service — where the games will be created and streamed — and the online gambling operator, which is the platform where players can access the games and place the bets.
The goal for both providers and operators is to replicate as closely as possible a ‘real’, bricks and mortar casino experience. The more successful they are in approximating this experience, the more bets will be placed on time, more rounds will be played, and satisfaction levels will go up in all corners. For both the casino and on the user end, full transparency is a must-have to guarantee fair play and trust in the platform.
For the providers of online games, though there are significant overheads that can be avoided compared to a land-based operation, they do have to worry about the quality of the stream. Of course, this is core to the service they are providing; if the stream fails, the user goes. When video buffers at a key moment in an online poker game, for example, a user could question the legitimacy of the game and request a refund. As well as having a direct impact on revenue in terms of returned bets, low Quality of Experience can quickly affect long-term user engagement and retention, as trust in the service is crucial to keeping the bets coming in and its reliability is crucial to keeping players coming back.
Usually, the high-stakes nature of this video delivery chain leads gambling providers to invest heavily in their streaming infrastructure, from quality production studios with professional dealers to all the variables along the delivery chain for their content. All of this investment is designed to provide the best possible Quality of Service. That is to say: a minimum of errors, interruptions, or buffer events caused by the delivery chain of the content to the user.
Considering the extremely high potential for revenue generation when this video is correctly delivered, this investment should be easily justifiable. But, as it is not cheap, it also means providers need to know exactly how this infrastructure is performing. As well as being able to quickly identify and resolve any problem they encounter in the delivery chain, they also need to be able to measure the results of their investment to optimize the overall ROI of their service.
Here some of the strategic video analytics metrics that a Live Casino provider cannot afford to go without:
Live Casino operators, evidently, are interested in maximizing the revenue of each game they host on their platform. If the stream is being delivered by a provider, the operator has no direct control over the Quality of Service. However, they are extremely interested in the optimization of their service based on the Quality of Experience that each end user has.
This means they need to have answers to questions like: When are the biggest bets being placed? Which dealer do they like the most? Which game is more popular than another one? Which games are the most popular at a certain time of day? How much time do they spend at each table or game? And of course, any behavioral patterns that can be tracked will be of extreme value for a gambling platform.
So, for live casino platforms, optimization of player behavior in relation to the stream is the focus. Here are some key metrics that are likely on the dashboard of every successful online gambling provider:
Online gambling is becoming ever more normalized, and the demand for faultless live casino experiences will only grow. As the number of streams, views, and bets increases, the ability to deliver an optimized stream — with dependable real-time video analytics — will gain even more importance.
NPAW’s YOUBORA Suite allows online streaming companies to access powerful, real-time analytics, converting otherwise inaccessible raw data into actionable business insights that help them grow. We help both providers and operators to optimize their services and meet the challenges of providing faultless live casino experiences in 2020. For more information, get in touch with an expert, now.
Johnny Crisp on February 04th 2020
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