As more and more countries change their legislation in favour of online sports betting, sportsbooks are beginning to lose their traditional advantage of tapping unexploited markets.
Unsurprisingly, the need to seek a technological edge over the competition to gain advantage is now more important than ever. As technological advancements and their industry-wide adoption grows faster, companies that leverage those innovations have it all to gain.
Technology Drives Sports Betting Further
The introduction of disruptors such as blockchain-based sports betting, as well as VR technology are just a small part of the extensive innovations we are expecting to see in the industry over the coming years. Of course, when it comes to collaborating on these technologies, there’s no better place than Betting on Sports to talk about the latest industry news and tech disruption.
Taking place on 17-20th September in London, it’s a headline event in the sports betting world, with more than 3500 delegates from around the world coming to participate, do business and network with senior executives from the industry’s largest betting and gaming companies.
Digitain on Betting on Sports
This year, Digitain is set to participate, displaying its latest in tech and innovation, as well as discussing business opportunities with its friends and future partners.
Some of the more outstanding products in Digitain’s offer include the Digital iGaming Platform, Sportsbook software, payment gateway, casino aggregator, skill-based games, and much more.
The Digital iGaming Platform is developed using cutting-edge technologies to provide a novel approach and boosted services. It also enables monitoring and management of players’ accounts, a thorough behavior analysis, and tracking online revenue for lifetime player value optimization, by supporting online and offline channels.
Digitain’s sportsbook software is developed to cater for the needs of international, European, American, African and Asian agent-based operators. It also provides comprehensive support, and a customizable interface that can be easily integrated with an existing platform through the API.
Alongside, skill-based games and bet on games are always a staple fixture in the gaming community. Digitain offers their partners access to the latest skill-based games which enable brands to reach a wide variety of player demographics. All of Digitain’s P2P games are not only easily integrated, but they also provide a hassle-free frictionless accessibility to more content. P2P games two-player games that start with one player creating the game and the second one joins.
As part of its extensive portfolio, Digitain offers the following skill based games: Belote, Backgammon, Dominoes, Game 21, Pasur. And for bet on games, Digitain has: Keno, Crash, and Hi Lo.
Create the Future
The upcoming decade will see sports betting businesses face a raft of changes and challenges, and those that fail to adapt to the latest in innovation that their customers expect will fall behind. Staying ahead of the game is crucial, and there’s no better place to do it than Betting on Sports. Providing operators, sportsbook developers and iGaming software with the latest insight into industry trends and innovation is one not to be missed. So, mark the date, join Digitain there and we’ll help you stay ahead of the competition!
The global iGaming industry is forecast to be valued at more than 92.9 billion U.S. dollars in 2023. The current size of the market is almost 59 billion U.S. dollars, meaning the size is forecast to double in the upcoming years.
Introduction
So how to choose the best online bookie software provider?
Thinking about getting into the potentially big-money online bookie and gaming business – whether sportsbooks, casino – here are the key things to know when choosing the best sports betting software and launching an online sports betting and gaming start-up.
The majority of betting and gaming activity takes place via smartphones these days – especially so on sportsbooks where over 70% of revenues are processed through the mobile channel. Focus on providing the best experience and software for your players, who are looking to enjoy themselves and use their devices to view and bet on online sports.
By all means you’ll want a funky website too – easy to bet on and to use, with a great look and feel, but front of mind should be the great players’ experience you will provide through your mobile software site.
Consider launching with a native sports betting software app – downloadable via the Apple and Google Play store. Better for forming a longer-lasting relationship with your customers, easy-to-use and often a right choice for the market. However if speed to market is important to you, and let’s be honest why wouldn’t be, then a mobile-friendly sportsbook and games website, fully adjustable, maybe the solution for you. Often Best is the enemy of Good – in this case to get to market the quickest way – then Good will do for now.
We know that a battle plan only lasts until the first bullet is fired on day one- but nevertheless you want to have developed a business strategy before going down the expensive road of launching an online sports and igaming brand. Becoming a bookie – as it is known is the UK and USA – can be a profitable occupation, as long as you think long and hard before you leap into action.
At a market level – do you know who and where you are targeting? What are other bookmakers up to? Which competitor is your number one target? What regulations do you need to comply with? Do you know how you are going to win? What is your marketing strategy? Where will you position yourself in the market? What are the minimum range of products and features you’ll want to offer to compete? What will be the overall look and feel on your website?
Have an answer to the above questions and you’re on your way. You can design a product and brand to suit your needs. You will be able to obtain the best software platform and products to suit your business, as well as the players you’ll require to be successful.
Buy, build or license – what type of sports betting software platform best suits your needs?
Buying or building your own bookie software platform can be a risky endeavour, especially if you’re new to the betting and gaming space. Are you prepared to make that bet?
A quick-to-market software solution is to find a reputable and flexible iGaming software solutions provider with an existing trusted and stable platform to build your operation.
Take your time and find the best option – better to be a partner with an experienced sportsbook software provider where you have a win-win relationships than to be a small fish in a big pond with some of the larger corporations.
So, you choose to go with the best sports betting software provider for your needs- what type of platform do you need? Options are often a turnkey approach or a white label.
A turnkey site allows you control of functionality and branding – with responsibility for some, if not all the operations. You’ll have to sort out your own license and be responsible for all compliance matters
A white label is less flexible – although customisation is available in terms of branding and colours but bespoke software development is less easy to get done. However it is the fastest and cheapest way to market.
What betting options are you going to offer your customers on your new web and mobile sites?
Sports betting, especially live betting software, is an important element. Live betting has grown significantly in the last 20 years and produces the most bookmaker bets. Online casino games are an excellent way of recruiting customers, especially slots and roulette. Live online casino software is a great addition to any site and players love to bet with real dealers . Esports and virtual sportsbook bets continue to make sense to add to your offering and are fantastic of attracting a younger demographic to your operation..
Additional sportsbook and casino software features and content will be required for the best sports betting customer experience – and your sports betting software supplier can provide guidance in this area. Consider social activity, chat rooms for customer service, real time sports content to help guide your customers’ choices. There’s also a wide range of free content that your players will like, especially around social networking.
This is why opting for the best platform software provider to meet your needs is a key decision – it’s about the free help and advice they can offer, given their experience as bookies.
Details, details….
A key element of any interactive betting and gaming service is the provision of effective, real time multiple payment options for your players. If they can’t deposit their money simply or, even more importantly, take back their money quickly, then the service will be unacceptable and you will struggle to succeed long term.
Here again your platform partner can help you through this – and help integrate you with existing and trusted payment processing providers, who can also deal with some of the other issues that you have comply with, including fraud detection and AML (anti-money laundering) matters.
The easier you make your sportsbook journey for your customers, delivering a great user experience no matter where they are interacting with you, the more successful your sportsbook or betting business will be.
People, who need people…
Take time to invest in the right choice of people for your brand and take time to choose where they work. Outsourcing solutions are commonplace in online sportsbook and gaming, ranging from technology team, operations/ customer care teams or even finance / AML resources.
Outsourcing can be a fine approach and free up time – but don’t allow your sportsbook and gaming business and your people to become too remote from your customers and the market, including the competition sites.
Key areas in your structure shouldn’t be outsourced – your top teams should be your main asset, your secret sauce – so take your time and recruit well – build a united, online betting team focused on success. Secret of that is easy – communication, communication, communication!
An investment in a good analytics application is vital so find an effective CRM solution, to manage and present data especially so to help your marketing strategy be successful.
This takes us nicely to your marketing strategy – absolutely vital that you are clear about your strategy for launch and thereafter. Expect to spend 30-40% of your overall budget on marketing in your first year.
Branding, recruitment, retention, bonuses, paid search, programmatic search, sponsorship, affiliate networks – there are plenty of options where to invest your marketing dollars – so you need to have an initial plan. Then make data-led decisions to adapt your marketing approach.
Summary
So, in summary, the betting and gaming industry can be an exciting and profitable space to be involved in. Key areas centre around the choice of the right igaming platform and top betting and gaming products and features.
The best sports betting (bookie) software provider for your business needs is always a key decision to make, as is the actual type of bookmaker and gaming platform you provide. Speed-to-market is often one key element in launching, but don’t let that pressure affect your decision on a sports betting software partner. Cost effectiveness in getting to live is one element but ongoing monthly costs also need to be considered and weighed up in the big picture. A long-term relationship with your gaming software supplier is what you should plan for – so choose one who will support you from training, marketing and further software development perspectives. Also, make sure you choose an igaming or bookie software provider that has a comprehensive portfolio of products, with the best range of suppliers for your specific market needs.
The right, real time quality of user experience you deliver, especially through the mobile software platform will be key.
Market knowledge, digital marketing capabilities and having a well-trained and motivated team are other top elements to be included in your successful bookmaker operation.
Gaming and gambling are not new to Africa. There is no denying that land-based casinos gambling comprises a large portion of the market, but over the last few years, sports betting is increasingly rising in popularity. At the end of 2018, the industry was worth around $37 billion and is expected to continue to increase over the upcoming years.
The growth in mobile money services and rapid Internet penetration has created additional opportunities for digital inclusion, financial inclusion, and innovation, making Africa the leader in mobile growth. The proliferation of mobile led to a considerable expansion in mobile sports betting and other forms of online gambling to spread like wildfire through the continent, with 75% of all online bets in Africa places using mobile devices.
The State of Online Gaming in Africa
Africa has very mixed social and economic developments, but for numerous different reasons, Africa is very attractive for many online operators. Many of the countries offer near-term revenue potential for online sports betting operators and depending on the type of regulation of gaming legislation, grey and black market share could be drastically reduced.
With South Africa generating the most significant turnover due to the legally regulated online sports betting as well as necessary Internet and mobile infrastructure, in other countries like Kenya and Nigeria mobile betting has had the biggest expansion, moving from retail market towards the online market. Additionally, Uganda, Tanzania, Ghana, Senegal, the Democratic Republic of Congo are markets following along the sports betting popularization.
The most popular sport that Africans bet on is football. International competitions such as FIFA World Cup, African Cup of Nations, Euro or Copa America along with Premiership, Primera, Serie A, and UEFA Champions League are favourites among punters. Horse race betting, the national lottery outcome and the African sport of Juksei are other popular betting choices.
Regulation and Legislative
Being the first mobile-dominant continent for online sports betting is impressive enough on its own, but if equally astonishing is the fact that even though less experienced than their European counterparts, African regulators have an immense desire, maturity, and level of understanding and knowledge related to gaming and gambling issues problem gambling, sports and betting integrity. Additionally, they accept that technological advancements mean that prohibition of online gaming does not work because customers will always find a way to play.
Moreover, concerned that banning gambling may lead to even higher rates of money laundering and creating stronger links between gambling and crime, African regulators are interested in finding regulatory solutions that will protect both, the payers and the operators. And rather than just taking another jurisdiction’s laws and regulations and applying them as they are, Africans are keen to take the international best practices and adjust, interpret and adapt them in ways that work most effectively in and for their respective jurisdictions.
Alternative Payment Systems
One of the biggest challenges for online operators in Africa is the significant number of unbanked consumers. Thus, deposits and withdrawals need to be executed using various alternative payment methods. One of the most popular solutions comes with mobile payments – the ability to charge a payment directly from the player’s mobile phone bill. This method requires the player to have an account with a mobile operator that cooperates with the online operators.
Additionally, many operators use their retail business as an alternative means of payment, enabling players to deposit and withdraw money directly to their online account, or use vouchers. Again, with the help of the mobile network operators, players can place a bet using the voucher by sending an SMS message or making a call.
Another popular alternative payment solution besides mobile-payments and mobile wallets are cryptocurrencies, in particular, Bitcoin but the market share is still small. The continent has also many local online payment companies as Kpesa, Kopokopo, Pesapal, Jambopay, Ipay and Instantpay, Paypal, and even internationally recognized MyGate, Skrill and Sagepay are also allowed.
The trend of creating alternative payment solutions is actively taking over the iGaming industry, not only in Africa but also throughout Europe, USA and the rest of the world.
Is Africa the next new market?
The increased number of operators moving to Africa to expand their network and offer their online betting and gaming services to this new emerging market, only indicates that Africa might be the new big market for iGaming.
Europe remains fragmented, and with numerous different laws and jurisdictions supporting or banning online gaming, USA is slowly moving to legalised sports betting, leaving Africa to be a brand new market that is still working on its online gaming regulations, giving operators a lot of challenges but also room to navigate through the complicated landscape.
So will the fast development of online gaming and the steady implementation of regulatory law in Africa help Europe see the problems in the patchwork quilt nature of its online gaming regulation law? Can Europe find a way to legalize and regulate online sports betting and gaming across the continent before it loses its market share to Africa?
