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BetProduct about Customer Approach: Bet Line as Brand Identity

Author: Gambling Man
16 November 2020, 17:57
Votes: 4

Modern bettors want to use services to which they are accustomed but under the most convenient conditions possible, according to the latest news about the betting market. It creates additional obstacles in the operators' work. A representative of BetProduct, a supplier of online gambling services, has provided an overview of the problem that bookmaking software companies face and information about the most popular types of bets and innovative solutions.

BetProduct about Customer Approach: Bet Line as Brand Identity

“Betting line plays the role of the brand identity tool in some cases because a customer gets familiar with current deal offers. It is important to represent it appropriately for uses to acquire information in an as simple way as possible,” the BetProduct expert has said.

According to the common definition, betting lines include odds of all sports events offered by a bookmaker. As odds can change, the information should always be available to the betting shop or website visitors. In addition to odds, the betting line usually includes other key details about the event: statistics, date, and time of its start:

“At the current time, our customers have access to 1000 various events. Of course, they include the most popular types of sport, such as hockey, basketball, boxing, football. Users can also wager on rarer sports: snooker, cricket, curling, in-line hockey, and others. Everything depends on a player’s preferences and the range of games provided in the market. A good alternative, which has turned into a separate sector, is live betting that is available 24 hours. The main thing for a bookmaker is to offer as many betting variants and types as possible.”

Most demanded betting types

In terms of competition rules and peculiarities of games, every type of sport is exclusive. However, all of them are connected by betting types. There is a set of obligatory bets that every bookmaker should have.

The most popular bet in bookmakers’ offices is ordinary. Single bet, as it is often called, means the prediction for one certain match or any other event. In other words, to win this bet, only one condition should be fulfilled. The examples of the ordinary bet are a team’s win, the total of points scored, or goals, handicap. The ordinary's advantage is the simplicity of its conditions. That is why it attracts newcomers or those bettors who just start wagering on a new type of sport. Taking into consideration the fact that the coincidence of only one event is required here, unlike in other betting types with two or more matches, for example in an express bet, one more advantage is less time spent on the event analysis, the expert has noted. As a rule, the ordinary’s drawbacks are not very big winnings and the impossibility to grow the bankroll within a short period.

Bet

The express is betting on several events. It requires deeper event analysis but usually results in bigger winnings. That is why the express bets are the choice of experienced players who have already got enough practice and detailed information about teams.

However, the risks to lose a bet are higher here because it can occur if only one condition isn’t matched. According to bookmakers’ terms, bettors often can choose different, not connected, events from several kinds of sports, but this method also has some disadvantages. As a rule, many bookmakers increase margin depending on the number of events, provide the opportunity to wager, using the express method, only on basic outcomes, and decrease winning odds.

If to consider rules that are more beneficial for a player, a bet type called “system” has a key difference. Even if one condition isn’t matched, the bet will mean a positive result for a player under all circumstances. In terms of the structure, the system includes several express bets. It is determined by a name, which indicates its size. For example, the name can be “2 from 3” where three means the number of outcomes in the system, and two stands for the number of events in every of selected express bets. The system’s drawback is the impossibility to create it using interrelated and redundant events.

Interesting

The odds of every express bet should exceed the number of combinations for the system to provide a player with a positive result. Usually, the win increases the wager’s amount by 2 or 3 times. In addition to this, bettors frequently use the system bets as securing against the loss in the express bet.

A “chain” bet is differentiated mainly by the succession of wagers (meaning the mentioned above ordinary bets) set by a player. It is necessary to note that the succession doesn’t depend on a timeline and is determined by a player. The chain is considered a failure if it loses the balance, or the first bet is lost because the following results are based on the win in the first game. That is why it is important to pay particular attention to the first stake.

 

odds

Another advantage of this bet is the absence of limits in the markets while wagering on pre-match and live. It isn’t recommended to wager within distances when the result of sports events is assessed during a certain period, not occasionally.

Bookmakers should be able to offer all these types of bets to their clients, the BetProduct expert has noted.

Challenges

According to the BetProduct representative, nowadays, the global betting market is overstuffed with various offers for clients. Some bookmakers focus on esports bets, others – on football or live games. In the modern market, only a few operators can provide their customers with a wide variety of bet types. It leads to the narrowing of the audience, which influences a company’s revenue.

The major problem is the following: very rarely, betting service providers can offer an operator a full package of business solutions. That is why a bookmaker needs to analyze and extend its offers independently. It results in a narrow focus in operations and limits in terms of the target audience.

“Only a few suppliers of services for the betting sector can offer all products and solutions for this business. However, by understanding the above-mentioned problem, the BetProduct team has found the solution for it. At the current time, our company provides clients with products for virtual football, basketball, tennis, and penalty. In addition to this, our partners can use a ready-made product – White Label. It is a rather new solution in the market, which means that a client gets a website with 24-hour support.”

Read more: Benefits of betting on sports

Read more: What is DFS and how to bet on it?

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