The sports betting industry has been making serious advances and is expected to grow even more significantly in the coming days. In fact, Grand View Research recently valued it at $83.65 billion and thinks it could continue growing by a CAGR of about 10.3%. However, with this growth, betting companies are usually faced with the challenge of standing out.
And if you’re really wondering about what you can do to distinguish yourself from the crowd, you need not worry. This article has been crafted with you in mind and will highlight several factors you can consider while presenting statistically backed-up claims. So, keep reading!
Aligning with the mobile-first era
Who would have ever thought that a time would come when people could conveniently access sports betting experiences from anyplace just with a simple touch of a button? Well, this is already happening, thanks to the popularity of smartphones. The best part of these devices is that they are quite sizable, making them easy to carry around.
As a forward-thinking brand, you don’t want to ignore such trends. You don’t want to imagine the pain of losing smartphone users just because you didn’t tailor your betting site for their use. And this explains the popularity of responsive designs in this industry. Adopting responsiveness ensures your platform can seamlessly adjust to different screen sizes, which is important for multiscreen consumers.
Mark you: Studies show that 85% of adults want a brand’s mobile website to work as well as its desktop counterpart. This is a good example of how modern consumers have become more aware and why adapting to such preferences can really be helpful. In another place, Linearity suggests that about 74% of users will more likely return to a site that works well on a mobile device, with 67% more inclined to make a purchase.
It’s no wonder that almost every bookmaker is working hard to ensure punters can access seamless experiences, even on the go. This sends the message that you’re customer-centric and can encourage return visits, which may lead to better business performance.
Prioritise online security
Do you know that, just in 2023 alone, more than 50% of sports betting companies encountered security incidents? As if that’s not enough, about four in ten punters have confirmed experiencing attacks related to their betting accounts, primarily due to account takeovers. No serious brand would want to ignore such statistics.
Because of the growing number of cyberattacks targeting the industry, bettors are becoming more security-conscious. In fact, many of them would often survey a platform to check whether it’s secure before participating. Of course, you don’t want to fail to appeal to these preferences just because you haven’t adopted infrastructures that present your brand as secure.
This is where features like 2FA and SSL encryption come in. 2FA improves security by adding an extra layer of protection to user accounts by requiring two distinct verification factors to access them. Surprisingly, this seemingly simple approach can protect you from up to 99.9% of targeted attacks. SSL encryption, on the other hand, secures internet communication by encrypting data transmitted between a website and a browser, making it unreadable to eavesdroppers.
To strengthen your efforts even more, consider adopting advanced technologies like AI-based mechanisms. This can be helpful, especially if you want to implement real-time monitoring.
A 2024 report by Cisco Newsroom revealed that 67% of users recently reviewed and updated privacy settings on different platforms. Since this number could actually continue increasing, you want to ensure your platform is as secure as possible to appeal to these security-conscious preferences.
Don’t ignore customer experience (CX)
It’s no surprise that, according to SuperOffice CRM, about 88% of companies are focusing more on CX, even in the contact centres. Other studies claim that 90%, regardless of where they operate, have made this aspect their primary focus. As we said, modern consumers have become more aware that offering inconsistent experiences will only hurt your brand.
This is no different in sports betting. Consider a game like golf, for instance. Why should a punter have difficulty accessing golf bets just because your platform is not navigable? Or worse still, why should they have trouble accessing their funds just because your payments are faulty? Since almost none of them will tolerate such experiences, you want to provide as many great experiences as possible.
A good place to get started would be personalisation. According to statistics, about 81% of consumers expect companies to customise experiences, and 76% claim to be frustrated if they don’t. With online platforms, accessing information about punters’ preferences, betting habits and so on has become possible.
As such, you can tailor recommendations that perfectly align with their preferences, which may lead to better customer relationships. This encourages return visits and can even convert customers into ambassadors of your brand.
Our final word
Undoubtedly, the sports betting industry has become super competitive, making it more challenging for brands to stand out. And since this may not change soon, the need to be flexible and forward-thinking has become apparent.
That’s why strategies like implementing responsive designs can really set you ahead of competitors. Remember, punters are increasingly turning to their mobile devices for wagering experiences and making your website responsive helps cater to this growing preference. Other strategies, such as prioritising online security and customer experiences, can also be helpful.
