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The online casino industry has been thriving for some time. The industry is expected to be worth around $77 billion by 2026, demonstrating not only success in the present but also expected success in the future. While other established industries are going through unstable times, the online entertainment industry is thriving - but why? What can other industries and businesses learn from the way online casinos have adapted so well to the changing environment and consumer base of the last decade?

Diversification strategy

One of the most successful aspects of online casino sites is that they offer a wide range of different ways to interact. Rather than focusing on one area, they spread their network widely to meet the needs of all types of consumers. For example, a look at the options at Nye Online Casino in Denmark shows that reaching as many bases as possible helps businesses thrive. The site offers online slots, which in turn cover many themes, as well as table games, including live versions. The more diverse a business is, the better its chances of success.

Virgin, for example, is a good example of unrelated diversification. Over the years there have been successful Virgin projects, such as providing broadband and TV services, and unsuccessful ones, such as Virgin Cola. Expansion in many different industries reflected consumer demand at the time. While not all were successful or long-lasting, the persistent strategy helped the brand become known as a brand that would strive to succeed in whatever they did. This attitude was reflected in the way customers saw them.

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Kodak is often used in business as a cautionary tale. Unaware of the changing demands of consumers inclined towards digital cameras, Kodak continued to develop films. Eventually their consumer arm was forced to collapse. Although they are still in business, operating in the B2B sector, they are still seen as a company that has gone from market leader to obsolete in a short space of time.
The online casino industry has been thriving for some time. The industry is expected to be worth around $77 billion by 2026, demonstrating not only current success, but also expected success in the future. While other established industries are going through unstable times, the online entertainment industry is thriving - but why? What can other industries and businesses learn from the way online casinos have adapted so well to the changing environment and consumer base of the last decade?

Diversification strategy

One of the most successful aspects of online casino sites is that they offer a wide range of different ways to interact. Rather than focusing on one area, they spread their network widely to meet the needs of all types of consumers. For example, a look at the options at Betfair online casinos shows that reaching as many bases as possible helps businesses thrive. The site offers online slots, which in turn cover many themes, as well as table games, including live versions. The more diverse a business is, the better its chances of success.

Virgin, for example, is a good example of unrelated diversification. Over the years there have been successful Virgin projects, such as providing broadband and TV services, and unsuccessful ones, such as Virgin Cola. Expansion in many different industries reflected consumer demand at the time. While not all were successful or long-lasting, the persistent strategy helped the brand become known as a brand that would strive to succeed in whatever they did. This attitude was reflected in the way customers saw them.

Kodak is often used in business as a cautionary tale. Unaware of the changing demands of consumers inclined towards digital cameras, Kodak continued to develop films. Eventually their consumer arm was forced to collapse. Although they are still in business, operating in the B2B sector, they are still seen as a company that has gone from market leader to obsolete in a short space of time.




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