The standard 100% bonus is prevalent, but casinos face challenges in making these offers stand out and appealing without exceeding this percentage. The pressing question is, how successful can these bonuses be, and are there ways to make them more attractive?
Today, we are talking with one of the most acknowledged and quoted experts on bonus optimisation and iGaming in general, Christoffer Ødegården. He is the head of marketing at the UK affiliate platform Bojoko.com, where he actively monitors which bonuses convert and which struggle.
This interview aims to shed light on practical strategies for casinos to improve their bonus offerings, building on insights from previous discussions about the impact of UK regulations on high-rollers.
Christoffer, thank you for joining us today. Can you start by sharing a bit about Bojoko and your role?
Bojoko started with the mission of giving players more power when choosing online gambling sites. We noticed that players were often overwhelmed by the number of online casinos and bonuses available. To address this, we created a platform where players can quickly compare operators through our reviews and advanced filters to find their best fits and make informed choices.
Today, we are one of the biggest affiliates in the UK market and have expanded from focusing solely on online casinos to covering betting and bingo.
My role is to manage our marketing efforts across our three verticals. We collect and analyse data from all brands we list, and we are able to see what bonuses, offers, and features convert. This helps us best support and often advise our affiliate partners about how they can better appeal to British players and increase their conversions.
The 100% bonus is a standard in the industry. How successful is this bonus in attracting players?
The 100% bonus has become so common that it's challenging for casinos to stand out. If you look at our overview of UK casinos offering a 100% deposit bonus on players' first deposit, you will see that the list has already reached close to a hundred operators. Players are bombarded with similar offers, making it difficult to attract their attention.
Casinos need to remember that when they come to affiliate sites like Bojoko and see bonuses next to each other, the percentage is one thing that stands out. Those who offer higher percentages always get a boost.
However, it is essential to make clear that there is no such thing as a single 100% bonus. Many different offers sport the 100% tag, and some are significantly more successful in attracting players.
How can casinos make their welcome bonuses more appealing without exceeding 100%?
Several effective strategies exist. For instance, offering low wagering or even wager-free bonuses will instantly boost your appeal. Yes, lowering the wagering requirement can impose more financial risk for the casino, but this can mostly be circumvented with low max bets or even max win conditions.
Another easy way to increase interest in your bonus is to make it non-sticky. This is where players can withdraw their real money cash balance before the wagering requirement for the bonus funds has been met.
Reducing the minimum deposit threshold makes it easier for players to start, increasing sign-ups. Adding free spins or other perks can further enhance the offer.
Creativity is essential; unique and tailored bonuses can make a significant difference.
Has there been any data to support the effectiveness of these strategies?
Yes, we have consistent data showing that wager-free bonuses and low minimum deposit limits instantly increase a bonus' appeal. Making a bonus wager-free will, on average, bring in up to 40 FTDs extra per month from Bojoko alone. Low minimum deposit offers are less impactful, but they will increase your FTDs by 3-10 per month, and again, just from our website. And of course, you can also expect a boost from our competitors.
Players are more likely to engage with and trust casinos that offer transparent and low-risk bonuses. These strategies attract more players and build loyalty and long-term engagement.
Increasing the bonus percentage to 200% is a more aggressive strategy. What are your thoughts on this?
Increasing the bonus to 200% can indeed attract more first-time depositors (FTDs). However, it also brings higher financial risks and potential regulatory challenges. Many operators are cautious because of these factors. Despite these challenges, this approach has effectively increased player bases time and time again. It's about finding the right balance and understanding the specific market dynamics.
I should also add that increasing the bonus percentage is not as risky as people may think. When the bonus percentage goes up, the bonus amount can go down. Our statistics show that high-percentage bonuses with low bonus amounts are still more attractive to players than the standard 100% offer. Additionally, you can be cheeky with the wagering requirement.
We previously spoke to you about how UK regulations could affect high-rollers, and we know you are actively tracking the developments following the white paper. Could there be regulatory complications for the 100% bonus?
No, I don't foresee any regulatory complications for standard bonuses. The current regulations mainly focus on responsible gambling measures, such as knowing your customer (KYC), checking players' well-being, assessing financial risks, and ensuring overall player safety. These regulations are designed to promote responsible gambling practices rather than directly impact the bonuses casinos offer. Therefore, bonuses should remain unaffected by these regulatory changes.
Do you have any final thoughts on making bonuses more appealing?
The key is understanding your audience and what they value most. Casinos should continuously leverage data to refine their offers and stay competitive. By focusing on player preferences and behaviours, casinos can design bonuses that not only attract new players but also foster loyalty and long-term engagement.
