The future is not now. There are so many factors that influence the success of a betting website. So how can you plan ahead?
Jakub Myszkorowski, Chief Commercial Officer at STATSCORE, takes us through three main threats that should not be left ‘uncared’ for, before highlighting a couple of solutions to keep you in the game.
How big is the online betting market? Well, let’s just say that the UK is believed to have an active betting group of over 20 million players. Quite a lot, you could say. But now take into account that not all of them will choose online gambling as their first choice.
Some are the traditional old folks who prefer to go to the betting shops for the human touch or – for a more modern day punter – play on the Self-Service Betting Terminals (SSBTs).
So the group of 20 millions already got smaller and if you think about more than 30 big active websites that try to win their attention, you can realize how hard it could be to differentiate your offer from the market and get spotted.
There are three main threats that can take you far away from your goal that you should not leave uncared for.
Your offer might not be sufficient
Top football competitions? Buddy, everyone has them. Cricket? Tell me something I do not know. Basketball? B-O-R-I-N-G…
You need to have the core offer covered, but at the same time you can not forget about some of the less heralded sports and competitions that still have their loyal group of supporters willing to bet regularly.
If you look at the offer of some of the top betting players from the world market, you will easily find that what makes a successful website is the combination of both: having all of the key world competitions covered with an add-on of the sports or leagues that are specifically followed by the local audience.
Understanding your customers and their unique needs is something that you have to pay attention to.
Your odds might not be attractive
Be there or be square – whoever you choose as your odds provider, think carefully. Successful betting websites make sure that they choose a provider who can at the same time secure the realistic, well-counted and flexible odds to offer fans a serious challenge without leaving them with a feeling that they can find a better offer somewhere else.
There are several big odds providers chosen by most of the sportsbooks, but at the same time more and more small players try to win their piece of cake by trying entering the market with more risky odds. At the end of the day, it is you who needs to decide: be there or…
Your offer is not well-visualised
Once you put an approval tag next to the first two points there is the last one you should not forget about. If you are sure about the width of your offer and the quality of your odds, but regularly fall short of your revenue targets, the reason for the failure could be a lack of proper visualization.
It is not enough to give fans a wide choice and good odds. They need to be also attracted to play with the proper set of data and facts served in an attractive way. Using a selection of the sports widgets dedicated to every event could be a solution here.
If you indicate within one small widget all the key stats in a nice and easy way, your viewers will have another good reason not to leave your website seeking inspiration and info.
Take, for example, our widgets for prematch data and live games. While PrematchPro secures all the essential H2H data for events from 19 sports before the games start, LivematchPro provides unique visualization for every key incident from the events that have already started – making the live sport and betting experience even better.