Sports betting is one of the fastest-growing and successful online ecosystems, but that means that new platforms are entering a market that is saturated with competition. In order to attract and retain customers, sportsbook platforms need to stand out from their peers and offer something to clients that other platforms do not.
You would likely have seen, and maybe placed bets on, a number of different sportsbook platforms over the last decade. You probably noticed, if you bet regularly, that there are new platforms emerging all the time, and old platforms occasionally disappear, or get shiny new veneers. The truth is that online sports betting is one of the most saturated online markets, with huge growth and large amounts of money to be made, if a platform can manage to capture the interest of customers.
Modern sports betting platforms understand that they exist in a saturated and heavily competitive market, so they go out of their way to make sure that they, at the very least, keep parity with the competition. Simply providing a place where people can engage in NFL betting is not enough; platforms understand that they must offer a wide range of sports, good odds and a pleasing UI. Platforms that can’t or don’t keep up, fall behind and eventually disappear.
So, what do these modern sports betting platforms do to attract your interest?
Providing a Mobile-Centric Experience
Modern sportsbook creators understand modern bettors, and they know that a large proportion of bettors prefer to play from their mobiles. A 2021 study by the UK Gambling Commission stated that about 50% of online bettors use their mobiles, a figure which it is reasonable to assume has risen with advances in mobile technology.
As well as a mobile-centric experience, the modern bettor expects a certain level of quality from a platform like BetNow sportsbook or online casino. If the user interface (UI) or overall user experience (UX) isn’t up to snuff, then it’s very likely that the customer will simply take their business somewhere else.
What do Bettors Expect?
We know that bettors want and expect a good UX, but what exactly does that mean? Among other things, you should know that a good UX is likely to include:
- Personalization: Users expect and appreciate online platforms to remember what they typically bet on and to place those options within easy reach when they open the platform.
- Smooth interfaces: A good platform will have interfaces that are friendly to both mobile and desktop users, offering them an experience that feels catered to whatever method they are using to bet with.
- Ease of use: The platform should be simple to use, and everything should do what it appears to do. No buttons or links should be confusing or take users to places they wouldn’t expect.
- Quick operating: A platform that is sluggish and has lots of unnecessary things to load on all of its pages is likely to lose customers. This is especially true if they are attempting to place live in-play bets and the platform makes it difficult.
Offering Enticing Promotions and Relevant Bonuses
For many types of online services, offering a good promotion is an excellent way to keep customers engaged and to attract new customers. The betting market is no different, and might even be one of the industries that offers the most different types of regular bonuses and promotions.
In order to maintain parity with the competition, every betting platform is likely to be offering some form of bonus or promotion.
What are the Typical Bonuses?
While there are a huge number of different types of promotions and bonuses that get offered, the most common typically take shape in one of the following ways:
- Loyalty rewards: This type of bonus is designed to keep customers coming back. Even a small bonus bet or some other sort of perk might be enough to keep your attention on a platform.
- Welcome bonuses: These are by far the most common sort of bonus offered. They can take many forms, but they all boil down to one thing. The sportsbook is trying to attract the attention of a new customer and get them to sign up and get used to being in its ecosystem. Once a customer has signed up at a sportsbook, they are far more likely to continue using it.
- Seasonal offers: By season, here we mean a sports season. These types of bonuses will be more likely to be offered close to big tournaments and global events, as sportsbooks know this is when they have the biggest influx of new players.
- Deposit matching and free bets: This type of bonus is very attractive, as it lets customers either get a taste for the platform without spending anything, or they get an amount of free money when they deposit.
Innovative Betting Features Draw Customers
A great way for a betting platform to stand out is to offer something that other platforms don’t. While this is difficult in an established market, especially for a pastime that has existed for thousands of years, sometimes new technology allows for innovative features.
The largest and most recent innovation to sweep the online sportsbook markets has been live betting. Live betting has allowed bettors to engage more fluidly with the action of their favorite sports as it unfolds. Platforms that have been able to incorporate this feature hold a remarkable advantage over those that don’t offer it.
What Exactly Does Live Betting Offer?
Live betting is still a relatively new feature, but there are already a number of standard features that live betting options offer, such as:
- Live odds updates: When betting live, the odds will move and change as teams and players make moves, and it becomes more likely one side or the other will win.
- Small specific bets: Betting on small actions, such as the next point scorer, has been made possible with live betting. Features like this allow bettors to feel engaged and part of the action all the way through a match.
- Live data: Very importantly, not all sportsbook platforms offer live video of games as they happen. The good platforms that offer live betting options will also provide a visualisation of some sort, like a graph, that displays succinctly what is occurring so bettors can better make choices.
- Early cash-out: One of the most important features of live betting is the cash-out. This feature allows bettors to opt to have their bets closed out early. This means that they don’t want to wait for the full match to finish, and could be used to either protect winnings from a fumble by their team, or to mitigate the amount they would otherwise lose.
Specific or Niche Betting Markets
Another great way for a sportsbook platform to offer something that others aren’t is to focus on a niche market. There might be lots of sportsbooks that offer odds on the NBA or NHL, but there are a lot fewer that offer odds on, for instance, water polo.
A clever way to achieve this specificity in betting markets is to focus on a single sport heavily, or to offer options that are tied to regional leagues. Some platforms might even offer betting options for lesser divisions of a sport, offering die-hard fans a much more granular betting experience.
How Can Platforms Corner A Market?
As well as offering options for a specific sport or niche market, platforms must also provide wider betting options for popular sports. Some options for sportsbooks that are looking to enter niche markets are:
- Fringe sports: Offering in-depth betting options for niche and fringe sports such as darts, esports and curling can provide something that customers can’t get elsewhere.
- Offering custom bets: This might be the ultimate choice for a platform seeking to offer its customers niche betting. Allowing a customer to select and create a bet on anything. This would naturally require more oversight and input from platform operators than other betting choices, but could be an excellent way to attract interest.
- Specific cultural content: There are many cultures and regions that have sports that are specific to them. Australia has its own type of football, the AFL, and Ireland has Gaelic Football as two examples. For a platform to pick an option like this and then offer in-depth betting choices, it would make it stand out for those interested in that sport.
Offering Good Payment Options
While this might not make a platform stand out, the lack of it might make a platform stand out in the wrong way. Modern bettors are used to having a range of safe and secure payment options when they place bets, or, indeed, when they do anything online.
By keeping in lock-step with other online platforms and offering flexibility and safety when it comes to payment, online betting platforms can ensure they don’t look bad to potential customers.
What Should a Payment Option Provide?
Just like in any online business, a betting platform’s payment options should include some or all of the following:
- E-wallet and mobile payment support: This is a big one, considering most people will be betting with their mobiles. Any platforms that don’t allow customers to use e-wallets like PayPal or Google Pay are a red flag to customers who prioritise convenience and safety.
- Quick withdrawals: Bettors like to get their hands on their winnings as soon as possible, naturally. Platforms that offer quicker access to withdrawals are likely to be viewed more favorably by customers.
- Local currency payments: For platforms that operate across different regions or globally, offering payment options in a local currency is going to recommend them greatly to customers.
- Crypto payments: This isn’t for everyone, but for bettors who are interested in cryptocurrency payments, platforms that offer them are much prized.
Players Know A Good Platform When They See One
After all is said and done, the best thing that a platform can do to attract and retain customers is to be good. You might have noticed that many of the different aspects of attracting customers that we’ve discussed are things designed to make the customer experience a more enjoyable one, and that’s no accident.
Platforms understand that they exist in a saturated market, and by holding themselves to a high standard, they are able to appeal to customers on the basis of quality. Bonuses and promotions can also go a long way towards capturing a customer’s interest, but to keep them interested, the platform has to be good.
