Anyone familiar with Britain’s Got Talent will probably remember the dance troupe Diversity. Led by Ashley Banjo, they performed an array of, as you’d expect, diverse dance routines. Their USP was indeed their diversity, and it’s seen them graduate from the Britain’s Got Talent stage to other areas within the entertainment industry. Online gaming companies might share few similarities to a dance troupe, but they certainly understand the value of diversity. In fact, given how easy it is to access a range of products and services in the modern world, diversity has become a necessity.
Diversity Alone Might Not Be Enough
Take, for example, Paddy Power Online Casino. The company itself started out as a high-street bookmaker. From a single betting store in 1988, it’s since become an all-out gambling operator with its fingers in many proverbial pies. It features games from a variety of genres. There are classic slots that hark back to old-school Vegas gaming trends. There are modern Megaways slots, such as Buffalo Mania, and even live game shows like Sweet Bonanza Candy Land.
This is an example of diversity, but in today’s age of multifaceted gaming platforms, it isn’t enough on it’s own. Indeed, if you load up Steam, you’ll find thousands of games from dozens of genres. From RPGs to shooters, action, and puzzles, there’s a broad array of offerings designed to suit any type of gamer. An online casino can’t afford to be left behind. That’s why operators such as Paddy Power combine their verticals. Rather than having different apps for poker, bingo, sports betting, and casino gaming, they’ve all been combined into one. A universal wallet allows customers to use their funds for any activity, which means they have easy access to a diverse range of products.
Diversity Leads to Greater Growth
This move towards diversification isn’t just a desire to keep pace with gaming industry trends. Data from various sources suggests that branching out is good for businesses. According to a 2022 report by Kantar, companies that diversify are more likely to grow. As per the data, brands rated as having a “higher diversity” rate achieved, on average, 24.2% growth in 2022. Companies with “moderate diversity” experienced 16% growth, and companies that focused on a “single category” saw 13.8% growth in 2022.
Commenting on the results, Graham Staplehurst, Thought Leadership Director at Kantar BrandZ said that people not only expect change but need it. “The ability of brands to adapt and change is becoming more and more important because what people need is changing.” There are, of course, many benefits to diversification. This includes more revenue streams, greater appeal, and the ability to move away from one product in favor of another. Beyond that, as Staplehurst notes, it’s good for customers.
The world is changing. We no longer have to search very hard for products or services. If one gaming platform doesn’t have what you want, you can join another within a few minutes. Therefore, it’s in an operator’s interest to cover as many bases as possible. That’s resulted in casino platforms becoming more diverse and, in turn, innovative. They’ll start by covering the basics and gradually move into experimental areas. The end result is more choice for consumers and, overall, more enjoyment, which, at the end of the day, is why consumers play games.