How offering Sportsbook can greatly increase a casino’s profit
Across the years, we have all surely come across casino content being present on an online sports betting operators’ website. That is not news to anyone. Even if the operator’s content heavily relies on Sportsbook, it is still quite easy to find casino content on their site. The main point here is to be versatile and offer different products. It has become a standard in the industry.
The COVID-19 pandemic forced a lot of industries to reshape to a certain extent. In the betting industry, the lack of real-life sports events was substituted with esports, casino content and virtual games. As a result of that substitution, online betting operators have enhanced their offer with thrilling new content.
However, it is interesting to note that these changes actually began before COVID-19 lockdown. The numbers are leaning toward the conclusion that sportsbook and casino are meant to be together.
When we speak of online betting operators in Central Europe, in the past several years, Sportsbook held over 60% of business. In 2020, the numbers are completely different, with 70% of total turnover and GGR being made in the Casino segment of business.
The Balkan region also has a similar trend. Sportsbook held primacy over Casino with 80% of business just three years ago. The current situation is that 60% of the total turnover goes into Sportsbook. In the Baltics, casino content now makes up 80% of the total turnover.
All the traditional betting operators have adapted to the new market conditions and have learned that the players are looking for a one-stop-shop, one sole place for their online gambling entertainment. The good news here is that traditional casino operators are interested now more than ever in the integration of Sportsbook into their online business.
In research conducted by the Business Analytics team at NSoft, it was revealed that sports betting is definitely much more popular among men. Over 75% of online players are men, with the majority of players being within the age group of 25 to 34 years of age. The most popular betting product is In-Play Sports betting and the most popular sport is football.
After a deeper analysis of the numbers, it is obvious that players who are tied up in online betting prefer combining sports betting with draw-based games. Products such as In-Play betting and draw-based game Lucky Six have the lowest churn rate and highest retention rate. To summarize, punters who are engaged in sports betting would love to play fast casino games too.
The question you may be asking is: where lies the opportunity for online casino operators? Well, the data shows that the betting operators who introduced casino games into their offers have drastically improved the retention rate. Generally speaking, betting operators who are offering more versatile content, tend to have more loyal players, and truth of the matter is that players like to have everything in one place.
Absolutely nothing is comparable to the feeling you get when you are watching your favourite football team in a derby match. The thrill of the game, excitement during every successful long pass and exasperation over the referee’s decisions – it’s a representation of life right there and then. Who doesn’t miss that?
For casino operators, the online channel is somewhat different from brick-and-mortar. Online channel offers so many possibilities for seamless integration of other content types. We wanted to extend our business and include sportsbook but we had some doubts. Our two main concerns were: will our players accept that shift and other was related to UX/UI. Luckily, NSoft took care for the second one by performing simple yet effective iframe integration into our platform that fitted perfectly. As of players, we have learned that profile of our players matched with sportsbook players’ base. We even got more engagement from new players attracted by sportsbook content – live betting in particular.
said Donny White, Sportsbook director at Victory Willbeours.
During the lockdown, esports was popular for a hot minute for obvious reasons. But as soon as sports events were functioning again, the number of pre-match and live tickets in betting skyrocketed. Sportsbook is no doubt the backbone of the betting business and is what’s holding it together.
Most software providers on the market have their Sportsbook flagged as a top product. NSoft is undeniably one of the industry’s leading software providers with over 100 clients worldwide using NSoft Pre-Match Betting MTS, Pre-Match Self-Managed or Live Betting MTS solutions.
NSoft is also one of the only providers that can perfectly merge Sportsbook with third party platforms.
Nowadays Sportsbook has become a vital part of any successful online casino, with more and more players joining the sports betting industry. Thus we decided that adding a sportsbook to our casino was of utmost importance, so after surfing through several providers and careful consideration, we decided to pick NSoft. While checking the countless providers NSoft caught our eye in an instant with a friendly interface, countless markets and super-fast integration process. The backbone of this decision was that NSoft is a preferred partner of Sportradar. All of this led to a unanimous decision to partner up with NSoft and we have not been disappointed so far,
said Maria Fernández, CMO of Betflip.
Sportsbook is a profit generator and combined with the vast casino players’ base, it’s a winning combination. NSoft’s risk-free, turnkey solution for Sportsbook is a necessary part of this equation. Simple wallet and iframe integration make sure that the casino page looks appealing and eye-catching.
Even though players are usually clustered as casino or sportsbook players, data shows that online sportsbook operators who introduced casino and virtual games into their offer were able to attract all new players’ segment. Live Betting and Casino are definitely different types of content but some similarities are impossible to ignore. Both are available 24/7, fast resolved and extremely profitable.
“We received a huge spike of new players at our casino all thanks to the Sportsbook. We have advanced to the next level of competitiveness on the gambling market and this is definitely all thanks to NSoft and their quality product.” Concluded Fernández.