The best way to adapt is to focus on strategic customer segmentation. For the first time in history, we now have multiple generations of online sports bettors – all with relatively equal proportions of total revenue derived. While recreational bettors are often not price sensitive, no matter what the generation – what is more important is to focus on attraction and retention via a high- quality proposition.
with the right sportsbook offering – and the right technology behind it – sports betting has the capability to offer a revolutionary option that until now has only been available on the other side of the Atlantic. I believe we will see more countries following the road to regulation, and with that interest in our industry is likely to reach new highs.
Adding to the momentum is the growth of betting on eSports, which over the past few years has been quite staggering. While I don’t subscribe to the view that it will overtake traditional sports, it is clearly here to stay with no signs of slowing down.
Where eSports is showing very good numbers however, is in attracting a relatively young audience. Operators will need to invest R&D to
both understand and pinpoint this new generation’s needs. Te best way to adapt is to focus on strategic customer segmentation. For the first time in history, we now have multiple generations of online sports bettors – all with relatively equal proportions of total revenue derived. While recreational bettors are often not price sensitive, no matter what the generation – what is more important is to focus on attraction and retention via a high-quality proposition.
Of course, with each new opportunity comes a new challenge. Operators continue to face compliance burdens that can restrict growth strategies, especially when it comes to global expansion. Tey need to tread carefully with which markets to enter as it is not feasible to have a pure one-size-fits all approach anymore. Compliance is a central part of any serious
betting company today. Te companies that have a high local understanding and work with the regulators will be the ones to come out on top.
Responsible gambling in particular is an area where the industry as a whole needs to do more, but the question is what and how. Tere is a fine balance between player protection and limiting and interfering normal players’ behaviours. We strongly believe in the RG model where you inform and provide great tools for healthy and sustainable gambling. But RG is not an isolated thing to one company, it is an area where the industry needs to come together and work proactively. Regulated markets will help with this as you can introduce successful RG tools across a whole market, such as spel pause in Sweden or Rufus in Denmark.
Looking to the future, I’m excited about the way the industry is evolving. With the right product, the right tech and an efficient flexible offering, bookmaking as we currently know it has the potential to evolve into a multi-segmented omni-channel offering. Not only by delivering the full package for multiple generations rolled into one, but one that can also incorporate the changing face of tech instantly, and as fast as the entertainment industries that surround our sectors. I for one, am looking forward to making that happen.
NEWSWIRE / INTERACTIVE / MARKET DATA P63
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