Assessing Gen Z and Millennial behaviour, Jamie Mitchell of Low6 has predicted a ‘seismic shift’ from traditional ‘hard’ gambling, stating that the industry, regulators and the public perception will ‘force’ people and sportsbooks to ‘not welcome’ problem gamblers onto their platforms.
In the New entrants – new angles panel at Betting on Sport Europe – Digital, panellists discussed changing customer relationships and explored the never-ending quest to find what the next generation of sports bettors are looking for.
Mitchell believes that offering alternative platforms is key to attracting the next generation: “We think our platform offers the millennial and the Gen Z particularly an alternative to these harder forms of gambling and you just need to look on social media and things and build-a-bet slips which are shared regularly across Twitter and all the other various platforms.
“We like that build-a-bet style but we don’t won’t the complexity of six to one, ten to one, five to one, all over the slip. We just want to answer yes or no, will such happen, yes or no. We believe that’s what millennials and Gen Z want.
“As that seismic shift happens from ‘harder’ gambling over to ‘softer’ gambling, which we think we fit that sort of space, I think we’ll see users flock to the platforms such as ours and eventually in their droves. It is just as big a change as Betfair in my opinion. It will only get more and more prevalent.”
Acknowledging the adversity and scrutiny the industry can face, especially to those with younger punters such as himself, Jamie Graham, Founder of Who Knows Wins, was looking for change for his business model. He wanted to create something that gave control back to players: “We’re trying to create a model that takes that transactional betting nature away and puts the power into the users so there’s more control.
“We’re trying to do it in a safer environment, slightly more transparent than putting the users against other users.
“We’re certainly bringing in a quite younger user than most companies in the industry will be used to. We’re doing it because we’re offering something slightly different and slightly more engaging.”
Joining Mitchell and Graham on the STS-sponsored panel, part of the Innovation in Sports Betting track at the event, was James Copeland, CMO, Footstock; and moderator Richard Thorp of Red Knot Communications.
Comparing traditional sports betting to being the player vs the house, Copeland described his platform as a facilitation where the users instead can battle each other. Changing the relationship dynamic between operators and the players: “It completely changes the relationship that the user has with the operator because rather than being embroiled in this stigmatised notion of ‘the house’ instead you are almost doing them a favour.
“You are giving them the means within which to be able to compete against each other. Which means that you’re not polarising yourself against them, instead you’re working with them, which completely changes the completion of the operator and user relationship.”
Betting on Sports Europe – Digital is the foremost conference for senior executives from European sports betting operators, providing a forum for high-level discussions that will help to shape the future of the industry.
The fully virtual event will bring together major players from markets across the continent on a single platform, where they will share best practice for tackling the industry’s major challenges and ideas about emerging opportunities.
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