Old architecture equals massive costs...
And it's the same for UI/UX. Te UI/UX utilised in the US dates back to Europe circa 2012-13. It's quite embarrassing really. At the early stages of the regulated expansion in the US, you could have indicated the American player didn't have a sports betting mentality and therefore, zero expectations, so it didn’t need to be as sophisticated. But that's ignoring the large offshore market that existed during this period. It's ignoring the level of sophistication that actually existed.
Te premise that the American customer is not as knowledgeable as the European player - I simply don't buy into. Te US customer between UEIGA and PASPA had high expectations and in the race to be first in the market, these aspects were not considered enough as key factors towards success by the operators.
So, did the European model work? Depends who you are in the landscape and your ability to work through challenges in the future. What’s for sure is that there has been many casualties and the focus on the user experience has been less than admirable. If you were to ask those operators who have struggled, perhaps they would have taken more time to deliver a more specific and localised solution to their customer base.
Did first-mover play a role in the kill-rate we see today?
Speed to market played a role. Everyone was told the market was going live in six months, so there was a frantic scramble to be first to market. Even now, in the States, people are still signing up for mediocrity in order to get there first - before realising in 18 months' time that the product is terrible.
Te real issue in the US right now is that it's a race to the bottom in terms of acquisition and retention. People are paying massive CPAs to gain customers. I use the example of the New Jersey turnpike where there's a billboard, which in May advertised an offer to deposit $5 and get $500 free - 100 times the deposit. I don't know what the wagering restrictions were or what you had to turnover, but that's crazy.
Are those kinds of promotions widespread?
During the Super Bowl this year, if you downloaded an app and signed-up for a sportsbook, you could get $1,500 free to bet. It's the definition of a race to the bottom because there's no player engagement. It's primarily to do with the platforms, but it is also the mentality of the market and the maturity of the businesses involved.
What's the long-term solution? Spend more cash than your competitor?
If you're a FanDuel, DraftKings or MGM in the US, then you're happy the way things are going, because yes, you've spent a lot of money, but you've got market share in the majority of states. DraftKings started making money in Q2 of this year. FanDuel is doing very well, as it's a very clever and considered business. Plus, MGM has brand equity in the casino states.
If you don't want to spend that cash, however, but you still want to be successful, how do you do it? Soft2Bet's view is that it's all about UI/UX and the experience that you're delivering to the customer. Indeed, our strategy centres around our MEGA product - Motivational Engineering Gaming Application. What we understand is that there's a generation in their early 30s that grew up with a mobile phone in their hand. Teir expectation of their experience on mobile and online is much, much higher than previous generations. If you are utilising a UI/UX that was standard 10-15 years ago, it's obvious that they are going to look at it as antiquated and thus, not engage..
How does MEGA engage with this audience?
We bring elements of casual gaming, e-commerce and social into the casino and sports betting experience. Te first question that’s always asked when we describe MEGA, is it free to play? Te answer is, yes. Second question is often, ‘are you creating a gambling experience and a free-to-play experience?’ Here we say no. If you separate them then you have people coming for the free-to-play experience and you'll not get any value from them. You need to build everything together.
When the player comes to deposit and play, whether it's a sports bet or casino play, they accumulate coins on the gamified side. Te experience has 22-23 different engines, catered specifically for the audience and operator. While you play the game you generate achievements that reward you back in the casino and the sportsbook, which creates a retention loop with increased engagement..
When we measure screen time, we don’t compare ourselves to other US sportsbooks; we’re competing with platforms like Netflix and TikTok. Before we introduced gamified experiences, the average screen time was around 15 minutes. Now, it’s jumped to an hour and ten minutes. Tat’s a massive shift. Tis extended engagement strengthens brand equity, as customers are consistently interacting with the brand. Tey’re not returning for bonuses—they’re coming back for an experience they genuinely want to engage with.
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