Online Gambling Competition is Good for the Customers
The online gaming industy is so competititve these day that companies like PartyGaming are straining to match sign-up bonuses and tournament prize money offered by its aggressive online poker competitors in Europe, the company said recently.
The Gibraltar-based gambling group has reined back elements of spending on retaining clients, but a bitter price war has kept the cost of player recruitment high. “Strong competition - particularly from poker sites that continue to accept US players - has led to an increase in bonuses and costs associated with some of our poker tournaments,” PartyGaming said in a statement.
Like most poker sites, PartyGaming pulled out of the US in October 2006 after the introduction of tough new anti-online gambling laws. The London-listed company lost three quarters of its business when it retreated from America, and overnight Europe became its largest market.
A handful of private operators, led by PokerStars and Full Tilt, continue to operate in the US, which is still believed to represent close to half the global market for online poker. They avoid the attentions of the Department of Justice because they have no assets or operations in America.
PartyGaming believes these firms are using the scale of their US player base to fund promotions around the globe, particularly targeting market share gains in Europe. A price war is focused on incentives to attract large numbers of cash players sites. High player numbers, in turn, attract the most big players - the top 10%, known as “sharks”, who generate about three quarters of income
All the above is great news for us, the customers because in the battle for our gambling dollars we will receive more and more value.
July 15th, 2010 at 6:01 pm
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