When talking about iGaming, one cannot help but notice the clear dichotomy between the two main products which our industry offers: the casino (including live casinos) and the sportsbook. There seems to be a tendency with operators to focus on one while giving the other the cold shoulder, even if they offer both on their websites. The same dichotomy applies to bettors as well, as we tend to divide them into two categories: those who like sports betting, and those who like casinos.
To an extent, this segmentation is not wrong. In fact, this is how we offer bettors a unique experience which is best suited to their preferences. Each market also has its own unique identity and tendencies. This is what creates bettor behavior patterns and how operators adapt to them to have a successful operation. However, the notion that both sports betting and casino are cornerstones of the iGaming industry begs the question: are they truly mutually exclusive? Breaking the wall between iGaming products might just be the move which will open the floodgates to cross-selling opportunities for both operators and providers.
Then again, how can we achieve this? After all, sports betting and betting on casino games are different experiences and operate on diverse logics. For example, most casino games are based on chance, whereas betting on sports is often done by people who are fans of sports and have considerable knowledge about the rules, teams, and other sport-specific information. Sports betting also involves minimum knowledge of how odds work, as well as different types of bets such as single bets, express bets, and the likes. While card games such as poker or blackjack also require a certain level of skill, most casino games are based on chance. Later, we will return to the topic of skill.
FINDING CONNECTIVE TISSUES
Irrespective of the differences in logic and approach, betting on casino games and sports events share more than one common connective tissue: first, they both involve betting, not to state the obvious. They both engage the bettor in the thrill of predicting the outcome of a game or an event which, by and large, they have little to no control over.
Another common ground is that thanks to iGaming, a lot of options are on the table for both sports betting enthusiasts and casino lovers. Bettors no longer need to be physically present in casinos or sports events to place bets. If someone is bored with one sport or slot, he/she can easily switch to another. These are precisely areas we need to leverage when it comes to bridging the gap between sport and casino.
This would also be a good time to speak about skill games. Some of the most popular skill games, such as chess and backgammon, are, in fact, considered to be sports. On the other hand, several card games are also dependent on skill and knowledge, such as Bridge, Rummy, Poker and Blackjack. As an operator, it’s better to offer both games on a website. They will attract skill game aficionados and thus increase cross-selling prospects.
SEIZING THE RIGHT OPPORTUNITIES
Sometimes, it’s all about the right place and the right time. Let’s take the last World Cup in Qatar as an example. At the time, almost everything in mainstream media was about football. This was the perfect opportunity to offer sports enthusiasts slot games with football or World Cup themes. Even the most disinterested fan would glance at a sports slot while waiting for the next event to bet on. We saw sport-orientated players jumping to the casino side thanks to special bonuses on penalty slots. About 20% of that segment of the promotion kept playing in slots after the World Cup, extending their playing budget by 13% on average. This is an example of unlocking the value of the player by breaking the walls between sport and casino, employing correct marketing strategies, and increasing cross-selling opportunities.
Even though we, at Technamin, are fully conscious of the aforementioned dichotomy, that has not stopped us from fine-tuning both our casino product and our sportsbook. We have ensured that our casino is bursting with thousands of high-quality games from the best providers, while our sportsbook covers many sports in multiple markets, including Esports. This is because we believe that operators should be equipped with the best versions of both products. We encourage operators to take full advantage of each. After all, having a top-notch casino and an inclusive sportsbook will reel in bettors who are interested in either, effectively boosting customer acquisition and retention. We are not advocating breaking walls simply for the sake of breaking walls, but rather for the sake of opening new roads and opportunities in iGaming.