SBC News Voice of the Sports Betting Industry
Tech startup tappit specialises in cashless experiences. It provides cashless payment technologies for events and entertainment venues, enabling users to store funds on wristbands or branded cards and venues to work cash-free. The solution uses radio-frequency identification (RFID) technology and can be used for one-off events or permanent installations. We caught up with tappit Chief Marketing Officer Paul Winslow, to discuss how suited the firm’s product could be to a sports betting environment.
Like most forms of cashless payment, tappit has been largely associated with music festivals, but Winslow is quick to assert that he sees “a much bigger cashless world”. With that in mind, the startup has branched out into sporting events and teams, such as the Dubai Rugby Sevens and English Football League club Bury.
“tappit works anywhere there are consumers buying from a range of concessions stands and that’s why it’s ideal for sports events like the Dubai 7s,” Winslow explains, “but also for permanent installations at clubs where the same technology can be used to improve the event experience, boost customer satisfaction by cutting queue times, and help grow loyalty.
“The relationship with Bury is fantastic – when we first spoke to them about being a shirt sponsor we brought up the idea of going cashless and they bought into it straight away. It’s great to work with a club that has such a progressive attitude.”
And the implementation of tappit’s technology at Bury’s Gigg Lane stadium has been so successful that Winslow sees no reason why the product shouldn’t be extended further to cover betting in sports stadiums.
“The reality is that a betting shop within a club is just another outlet as far as our technology is concerned; the added benefit is that winning bets could be credited to the cashless card, which keeps that money within the loop,” he claims.
“It could be part of the stadium’s cashless system, or the betting company could have a card that can be used at any of its outlets around the country. The result is a wonderful Boolean circle effect where an outlet at a stadium is part of the stadium’s system but also part of the betting company’s. It helps form closer relationships all round.”
And Winslow spoke equally enthusiastically about the prospect of implementing tappit’s technology into a casino environment: “Practically it’s a great solution and reduces the amount of cash on-site but also has interesting possibilities for customer data capture: what games people play, when, how often, how much they are happy to spend.”
“But the really interesting part of this for me is the responsible gambling element,” he noted. “If you walk into a casino with a set limit on your spending, you can load that amount onto your card and gamble much more responsibly.”
Looking to the future, Winslow notes tappit has an “aggressive plan to add more features and benefits to the system”, as the firm looks to make solid progress moving into the new year.
“The demand for cashless experiences is growing every day and we’re having lots of fun being at the front of the line with new projects and technologies,” Winslow states. “Our pipeline of events and installations for 2018 is already hugely exciting and there’s a lot bubbling under that should make it an amazing year for us.”
