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With growing competition in the online casino industry, finding effective ways to attract new players is crucial for operators. To discover which strategies are the most effective, we contacted Christoffer Ødegården. He serves as Head of Casino at Bojoko, one of the top affiliates in the UK, and has access to comprehensive data on what features help secure additional FTDs. In this interview, he shares how diversifying payment options, lowering deposit limits, and refining bonuses can help casinos stay competitive.
What are the most effective strategies casinos can use to increase FTDs?
Most casinos focus on tweaking their bonuses to attract new players, which is effective. However, it can also have certain financial risks and lower player value. Our data shows that one of the fastest ways to increase FTDs is to simply expand the selection of payment methods.
It might not be intuitive, but offering a variety of methods does not just mean that players can choose what works best for them once they are on your page. Having the right payment methods will actually lead to a large number of players hearing about and exploring your casino in the first place.
Could you explain the impact of offering diverse payment methods on player behavior?
Many players have specific payment preferences and will only make deposits and withdrawals with specific payment methods, some sticking with just one. It is essential to have all relevant UK payment methods to avoid missing out on these users. As I already mentioned, many Brits actively search for casinos with their preferred payment method available, and comparison sites like Bojoko cater to them.
Bojoko has pages for every popular UK payment method, where players can quickly compare their offers and make their choice. This is without ever being exposed to brands that do not offer their deposit method of choice.
Let me provide a quick example. We have noticed that many Brits actively search for Paysafecard casinos and land on our dedicated page, where they compare casinos that let you deposit with Paysafecard and sign up. These players come with high intent, resulting in higher conversion rates. It is not just Paysafecard; a long string of more niche payment methods are hugely popular amongst Brits.
Which payment methods have proven to be most beneficial?
There are almost too many to mention, but pre-paid cards like Paysafecard, e-wallets like Neosurf, and mobile payment options like Boku and PayForIt are clearly gaining popularity. We have also seen an enormous rise in PayPal in the last few years, and the industry has responded, with most British casinos now offering PayPal. ApplePay is another mainstream payment method that has somehow been largely ignored among online casinos.
How should casinos respond to these emerging trends?
Casinos should always try to quickly embrace these trends, as the earlier they adapt, the more players they stand to earn. There is always an adaption curve where the less common payment methods are only available at a few operators, meaning they share the entire pot of players searching for these options.
I’d also recommend utilizing their relationship with affiliates like Bojoko, which can also amplify visibility. As I mentioned, our platform provides curated lists that guide players to casinos offering their preferred payment method. This visibility and alignment with player preferences often result in a noticeable uptick in FTDs. However, our collaboration with casinos goes beyond simply listing them on these pages. We can and do also provide insights on which payment methods and other features they should add to increase their FTDs.
You mentioned other features they can add to increase their FTDs. What specifically are you referring to?
Another quick way for a casino to increase their FTDs is to lower the deposit limits. This makes it easier for players to sign up and get a sense of your brand. High minimum deposits can deter new players who want to try the casino without committing too much upfront.
I’d also like to specify that bonuses are still a powerful tool, with no deposit bonuses in particular being an effective way to bring in new players. However, these require a strong focus on player retention to avoid risks like bonus abuse. Less risky bonus options include increasing the percentage of your welcome bonus and trying out wager-free offers. However, no matter what you do, effective retention strategies remain key to ensuring players continue depositing after their initial experience.