The much anticipated SBC Summit Barcelona Digital concluded last month after four days of panels on the most up-to-date methodology in the iGaming and sports betting industries. There, operators, owners, and industry professionals gathered virtually to discuss issues and to share thoughts about what can be done to improve in gaming markets, new and old.
The Big Picture
Sports betting is getting more competitive, especially as new regions open up to new types of gaming. For example, in the United States, PASPA was repealed allowing states to begin their own legislative processes to regulate sports betting, and in Canada, a bill permitting single-game sports wagering may finally come to parliament. In the meantime, operators are trying their best to get any foothold they can over the opposition.
Breaking Down the Details
The first panel at SBC Summit Barcelona Digital looked at how exactly to get that edge and appeal to new customers while keeping market demands in perspective. One of the best ways to see this bigger picture is to be able to look at the details. “The key aspect is data, and people interpret that data,” Joe Lee, Head of GB&I at Paddy Power Betfair said.
He mentioned SkyBet, saying innovations like the #requestabet campaigns are pushing the market toward more granular offerings. Using data to look at how users are placing their bets has helped SkyBet key into how in-play betting is one of the most popular ways to bet, leading to #requestabet, the social media promotion that allowed users to request bets using different social media platforms.
Data could also help reveal which markets are viable for expansion. Andrew Dagnall, CEO of Bettorlogic, and Philippe Joos, Head of Product & Innovation at Napoleon Sports & Casino, both made the point that there could be the opportunity for betting markets in both cycling and golf, with great potential for live coverage. Lee made mention, however, that expanded markets have found interest lacking. Better analyzing the cause for poor engagement when expanding into unfamiliar sports may lend operators more success in new ventures.
Not Too Big
Another concern with expansion is making sure users aren’t overwhelmed by the number of markets available, missing their opportunity to make a bet because they can’t navigate a confusing and overpopulated site. “We have to present to the audience the 5, 6, 7 most popular markets and then an easy navigation to get to the rest,” said Dimos Stranomitis, COO Altenar. Developing state-of-the-art UX will be a necessity for these operators.
Preparing for a New Market
Another popular subject for attendees at SBC Summit Barcelona Digital was the present success and future of eSports. Although eSports and sports betting in the online competitive gaming world have entered the mainstream, this is a crucial time for establishing the pastime as more than a niche market.
All Ages
Video games might be something most people associate with a younger crowd, but part of the advantage eSports presented this year was the ability to appeal to a wider spread of ages, drawing wagers out of people anywhere from 85 to 25 years old. While traditional sports were largely unavailable or delayed due to coronavirus precautions, eSports continued to pull viewers and bets.
Pixelbet CEO, Eirik Kristiansen, says he believes this newfound demographic might even stick around after traditional sports start to open up again. “We saw a huge increase in betting on esports. I think this could be a phase as well where a lot of the older generations might have gotten some eyes on esports,” said Kristiansen.
Both Ways
CEO and co-founder of eSports site Rivalry, Steven Salz, pointed out that the chance to connect to a younger audience through eSports is one of the greatest learning opportunities for operators. By looking at what brings this typically hard to reach group to the table, they can figure out how to adapt traditional sports betting and online casinos to make these other markets just as attractive.
He concluded, saying, “Our view is that esports is a great market access to less younger demographics and the next generations interest in betting. So I think what an esports endemic or an esports focused platform brings, like Pixelbet, is you can build on top of funnel, an onboarding experience, a retention experience, an overall user experience, and a customer support experience that is designed for a younger generation or the next generation. This is because you’re focusing on esports, but then you can up-sell them to sports, casinos etc.”
