Within Betting on Sports Europe - Digital, speakers from various sectors of the sports betting industry have provided their opinions on its latest trends, challenges, and obstacles. They also discussed the most popular news about the betting market.
The management and promotion of bookmaking companies aren’t an easy task nowadays. Operators face many obstacles on their way and need to be flexible and creative to become the leaders in the industry.
Branding, personalization, and compliance are key factors
According to Marco Blume, a Trading Director at Pinnacle, branding is an important process for any bookmaker, but it becomes more and more difficult. Philippe Joos, a Head of Product and Innovation at Napoleon Sports and Casino, has supported this idea saying that “showing a customer the right content at the right time” is the major goal of any branding campaign. However, to do this, a company should make sure that its branding strategy reflects what it actually wants to show to a customer.
Experts have also discussed the ways of how to achieve the best results in personalization and product presentation. Marco Blume has provided an example of Amazon that can reach its audience properly. Philippe Joos has added that it is difficult for bookmakers to use the same approach as this platform does. At the same time, listening to customers and giving them what they want can be the solution. He has recommended operators to choose one specific sportsbook product, which is the most popular in their country, and focus on it. The speaker has said that cycling is very popular in Belgium, and bookmakers try to make their betting products better for this type of sports to be distinguished among competitors.
Speakers have touched upon the topic of consolidation, discussing what is better for a business: to consolidate or to differentiate. While some experts have confirmed that consolidation means more opportunities for companies when they merge and collaborate to create a solid ground for further operation, Philippe Joos hasn’t agreed with them. In his opinion, all operators have the same product and the only way to get better results is to differ from competitors. He has said that bookmakers should have the right storytelling, involve customers, and make them feel the connection with the brand.
“If you are limited in bonuses, use gamification and implement it in the product,” said the expert.
Speakers also discussed the regulatory pressure and compliance burden as the main challenges for the sports betting industry. Marco Blume has expressed his confidence that more communication between regulatory bodies and gambling associations, as well as finding a compromise, will lead to better understanding and creation of safer environment for players.
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