Interviews & Editorials

10 Tried and True Tactics for Success in the Betting Industry

by Karlo Kralj, SVP of Sales & Business Development

12.12.2023.

So you're in the betting and iGaming business? Then you know it's a world where staying sharp and ahead of the curve isn't just nice – it's essential. Whether you're new to the industry or a seasoned pro, getting the lowdown on what really moves the needle is crucial. So, let’s roll up our sleeves and dig into the strategies that the big players use to dominate the game.

1. Knowing your market #

Knowing your market in betting industry

In the betting industry, knowing your market is key, and it's not just about licensing and legal compliance (important, though!).

Jump into SEMrush or Ahrefs to see what your online competition is up to, or use BuzzSumo to catch the latest iGaming buzz on social media. (Psst, it's cash-or-crash gaming , and we have the best game!). And don't just guess what your players want – a quick poll can give you the real deal. Keep Google Analytics close to track your site's hits and misses, and don’t lose sight of those industry reports from places like Statista for that bird’s-eye view of the market

To really get the lay of the land in retail betting, start by scouting out your competition.

Use tools like LinkedIn for networking, check out industry directories, and attend trade shows or local business events. Don’t forget to peek at online platforms like Crunchbase or industry-specific forums. They're goldmines for finding who's who in your market. This way, you'll not only spot your competition but also get the scoop on the latest trends and strategies.

2. Choosing Your Risk Path #

In sports betting, think of risk management as choosing your best fit: Managed Trading Services (MTS) is like autopilot, offering a user-ready platform with minimal effort needed from you. It's great for expansive live betting and micro-betting offers without the heavy lifting.

But if you prefer full control, a Self-Managed Sportsbook is your go-to. The supplier here gives you the reins over odds and risk, complete with tools for real-time monitoring and flexibility.

My advice? Assess your resources and goals. If you're resource-light and want ease, MTS is a solid choice. But if you're aiming for tailored control, then self-manage away! Just match your choice with your style and goals, and you're golden.

3. Combining Casino and Sportsbook #

Combining Casino and Sportsbook

Let's bust a myth here: merging casino games with your sportsbook (and vice-versa) isn’t a headache. Thanks to smart solutions like those offered by us at NSoft, it's practically plug-and-play! It’s easy, and, more importantly, efficient.

We've seen it first-hand: When live sports hit pause during the pandemic, those who integrated casino games with their sportsbooks saw a real uptick in player engagement.

Case in point: our client, Balkan Bet. After integration, their player base didn’t just stick around – it grew. They found that players loved the variety and never looked back.

So, why not do the same and give your customers the best of both worlds: the thrill of online casino slots and the excitement of sports betting? After all, more options mean more engagement, and more engagement means better business.

4. Tapping into Esports #

Esports is the big league now, and it's time your platform got in on the action.

To really nail this, you should do two things: First, bring the live esports action right to your platform. This means streaming big tournaments where bettors can jump in with live bets. It adds a whole new layer of thrill. Second, you need to speak their language.

These esports enthusiasts are a whole new breed of bettors – techy, social, always up for something new. So, tailor your promotions specifically for esports events.

And why not go the extra mile? Engage with the community, maybe sponsor an event or two. Remember, it’s about being more than a platform; it's about being part of their world.

5. Cultivating High-Value Player Relationships #

Valuing VIP customers in betting industry

Your high rollers, your VIPs - they're not just players; they're your brand ambassadors.

This is where the extensive bonusing engine comes into play. It allows you to create a range of personalized bonuses, finely tuned to each VIP's preferences and playstyle. Think of it as the ultimate way to show you're paying attention to what they love.

Combine this with direct communication channels (social media or Whatsapp Business) and a deep understanding of their betting preferences, and you’re not just offering them a game, but a tailored experience. That’s the kind of red-carpet treatment that turns your VIPs into loyal fans and brand champions.

6. Boosting Engagement with Gamification #

Want to keep your customers hooked? Let's talk gamification.

It's simple: add leaderboards for a dash of competition, hand out achievement badges for milestones, and rack up loyalty points for every bet placed. Think of it as adding a layer of fun on top of the usual betting.

Throw in some daily challenges - like placing bets on different games - and watch your players strive for those extra rewards. And hey, why not create levels with bigger perks as they climb up? It keeps things fresh and exciting.

Gamification is not just about playing games; it's about making the entire betting experience a game in itself. So, let's play!

7. Maximizing Impact with Betting Kiosks #

Maximizing Impact with Betting Kiosks

Alright, picture this: customers walk in, the screens light up, and just like that, they're instantly part of the action. I’m talking about a full range of betting and game options, all just a tap away on a betting kiosk.

Go truly omichannel and place these in your bet shops or any high-footfall areas like bars and coffee shops (if your country’s law is fine with it). This way, you're not just offering convenience; you’re creating an experience for the modern bettor.

And the best part? They come with AI smarts, suggesting bets and games that your customers might like and can work with any software. Plus, let's be honest, they look pretty cool. Our clients at Ladbrokes and Stanleybet are seeing the difference firsthand with our Stark betting kiosks. Engaged customers and climbing profits – that's the power of smart betting tech.

8. Optimizing Your Online Betting Platform #

When it comes to online betting business, it's not just what you offer, but how you present it.

Your website needs to be inviting, easy to navigate, mobile-first and fast. But that's just the start. Transparency is key – make sure your site clearly displays information about your operations, licenses, and ownership. This builds trust with your users.

And don't forget to infuse your brand voice into every page. Whether it's through the promo you write or the design elements you choose, let your brand's personality shine through. This isn't just about SEO and Google ranking; it's about creating a welcoming, engaging online space that customers want to return to.

Remember, a polished and user-friendly website can be as much of a draw as the bets and games you're offering.

9. AI for Smarter Retail Operations #

AI for Smarter Retail Operations

Think of AI-powered surveillance in your retail betting shops as having a personal Google Analytics. It's a tool that does more than just amp up your security; it provides invaluable insights into customer behaviors. This tech helps you track footfall, identify peak times, and understand betting patterns, all in real-time.

It’s like gaining a superpower to optimize your services, tailor promotions, and even rearrange your shop layout to match your customers' preferences.

In essence, surveillance tech like NSoft Vision transforms your retail space into a data-driven powerhouse – just like it did for our Vision clients, Arena Casino – ensuring you stay ahead in the game by making informed, strategic decisions.

10. Leveraging Social Media Effectively #

Alright, last point, but definitely not the least – social media. It's a biggie, right? Everyone's on it, scrolling, liking, sharing. But here's the trick: it's not just about blasting out ads or promos. Take a cue from how Paddy Power does it – they're not just about bets; they're about being funny and engaging.

Of course, that doesn’t have to be your style, but you still have to make an effort to be present. After all, your potential customers are out there! So, don’t just post; interact. Start conversations, share insights, run contests, maybe even share user-generated content. It's all about making those connections that turn followers into loyal fans.

Wrapping Up #

And there we have it – 10 crucial strategies to help you stand out in the betting and iGaming industry.

Whether it’s about diversifying your offerings, getting smart with data, or embracing the latest tech, these are the moves that can set you up for success.

Keen to see how NSoft can help you bring these strategies to life? Reach out and let’s chat about boosting your game. Let’s make those winning moves together!

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