Back in early October, Chalkline Sports CEO Daniel Kustelski stopped by the Innovation Lab at this year’s G2E gaming expo in Las Vegas, NV to give a brief presentation. The topic: Growing Your Sports Betting Customer Base.
Click here if you’d like to watch Daniel’s presentation, or read on for our top three takeaways from Daniel’s talk on customer acquisition and engagement.
1. Mobile Sports Betting is Where the Money is Headed
As of September of 2018, mobile made up half of the total worldwide bet rate, and the story in the US is no different. Back in 2013, mobile for bookmaker William Hill in Nevada constituted only 16% of their total handle. Today, that figure has skyrocketed to over 50%.
We are addicted to our mobile devices, and that means sports books will need to find innovative ways to engage customers through their phones.
2. Acquiring New Depositing Customers is Expensive… Or is it?
Any casino groups or racetracks serious about sports betting as a long-term line of business know, now is the time to be laser-focused on customer acquisition. The land grab for sports bettors is underway, and sports books are paying a premium to get new traffic in the door.
— Chalkline Sports (@ChalkLineSports) October 11, 2018
In New Jersey, operators are looking at costs between $250 and $500 for each new paying customer. That’s almost double what overseas entities are paying in mature markets.
Chalkline is approaching the situation differently, using our unique, turnkey offerings to help clients acquire those same customers for less than $20 each.
3. The Best Way to Engage and Educate Customers? Free-to-play Games
Sports betting veterans already know the ropes, but the average person in the US knows very little about how sports betting works. Successful customer acquisition in the emerging US market means engaging and educating sports betting newbies who would otherwise never place a wager.
First time sports bettors want fun, easy to understand games that require no risk. F2P games are also a great way to expose would-be-punters to different bet types, sports betting terminology, and how betting lines actually work.
Bettor education is essential for operators looking to expand beyond seasoned bettors and appeal to a wider customer base.
Our time at G2E was invaluable, as it was an opportunity to swap insights with some of the most knowledgeable individuals in the sports betting world. The US market is rapidly evolving, and operators still have a lot to learn, but there will be a wealth of opportunity in the business over the next several years.
Thanks to all those who made our experience a memorable one, and to all those attending G2E 2019, we’ll see you there.