Interactive
SPORTS BETTING COMEON!
Sports betting: What does the future hold?
Speaking ahead of his CEO panel at SBC’s Betting on Sports held September 17-20, Lahcene Merzoug, CEO of ComeOn! sits down with G3 to talk through his vision for the future of bookmaking.
Lahcene Merzoug, CEO, ComeOn!
Lahcene Merzoug is CEO of ComeOn! Group and has 20 years of experience in business development and marketing. He previously held the role of Chief Marketing Officer at Mr Green and has more than 15 years’ experience in marketing and business development. Lahcene will be discussing the future of sports betting with Jesper Svensson (Betsson), Dominick Beier (Interwetten) and Paris Smith (Pinnacle) as part of the CEO Panel at Betting on Sports 2019 in September.
One strategy that has been employed widely across the industry is discounted customer acquisition. And while this has potential to become a race to the bottom, operators are cautious of applying offers too aggressively. We try not to over compete on being the "cheapest" option short-term. P62 NEWSWIRE / INTERACTIVE / MARKET DATA
It is often questioned whether the traditional bookmaking model is a thing of the past. I think to answer that you just have to look around you. Compare e-commerce where it was 10 years ago and where it is today: the expectations from customers on areas like personalisation, user experience, and on-demand services is changing year by year. Te bookmaking model is no different, it too will need to keep developing. We see how players are much keener on the interactive experience where you customize the way you bet. Te rapid growth in popularity of in-play, in addition to innovations such as request a bet, are prime examples of how operators have had to adapt in line with changing consumer preferences.
With bookmaking being such a content-heavy product, offering players the right content at the right time is, of course, central to an operator’s ability to differentiate their offering in a market that is becoming increasingly saturated. But ultimately, it is the whole experience of the product and how easy you can make things for the player that drives customer retention and engagement. Tere is also an increased interest in gamification and campaigns where you combine big prizes with thrilling betting experiences. Providing an engaging user journey built on intelligent analytics should not be underestimated.
Developing efficient pricing methods is also currently a major focus in terms of creating new areas for growth. Margins are being squeezed every year and operators must now compete on price to stay competitive. But that is a good thing for the players as it means a better price for the end customer, with lower margin for the operator overcome by higher turnover. Growth can be achieved by improving the offer and providing a better experience to the customer. Tere is also an unleashed potential in the new generations who are new to the betting world and are excited
to get involved. With machine learning now being leveraged within pricing engines, operators no longer need masses of trader headcount to price markets and manage risk. Te development of more advanced pricing models has removed significant barriers to market entry and product growth for new and existing operators.
One strategy that has been employed widely across the industry is discounted customer acquisition. And while this has potential to become a race to the bottom, operators are cautious of applying offers too aggressively. We try not to over compete on being the "cheapest" option short-term. It's different in each market, but we focus on innovation and giving our players a long-term value, which we believe leads to better player values. In addition to our traditional revenue streams, we also offer live sports coverage, betting and tips to provide value added services that keeps our offering fresh and exciting.
Te legalisation of US sports betting is also providing a new avenue of opportunity for bookmakers, with benefits likely to stretch across the industry as investment booms. Te American association with sport is unique – and the potential to tap into the great American ‘fan experience’ is one of a kind. Sport has always been at the heart of the American psyche, and
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