At Lion Gaming, our turnkey sportsbook and online casino software solutions include a powerful player account management system and back office that empowers operators to maximize their player acquisition and retention efforts through the use of customized bonus & affiliate campaigns. Our PAM software includes everything you need to run your iGaming business to its fullest potential. Keep reading to learn more about our bonus/promo and affiliate solutions for online casino and sportsbook operators.
Today the iGaming sector is more competitive than ever, thanks to more jurisdictions than ever providing a legal framework for operating a legal iGaming operation. Not only has the regulatory framework become more friendly, but there are plenty of white label and turnkey betting technology providers offering affordable casino solutions to entrepreneurs considering entering the industry.
With bettors having more options to choose from when deciding where to place their wagers, having software that is makes it easier to acquire players is more important than ever. The use of bonuses and promotions to help retain and acquire players is a crucial tool for sportsbooks and casinos in their daily operations.
One of the most common instances of a promotion offered to bettors from sportsbook operators is a bonus wager. Typically this type of bonus is given via a deposit match. As an example, an operator can offer a matching bonus of up to $500 – meaning a player would receive a bonus of up to $500 depending on their deposit size (i.e. $250 = $250 bonus, $500 = $500 bonus, $1000 = $500 bonus). In order to prevent promotion abuse, encourage user activity, and reduce cost of the promotion campaign, operators attach what is known as a rollover requirement on this bonus. If an operator has a rollover requirement of 10x, that means the player must wager 10x their bonus sum in order to withdraw the bonus.
However, simply having a rollover requirement is not enough to prevent promo abuse. Promo abuse is the industry term that describes bettors who have no intention of being a repeat customer at a sportsbook or casino, but instead are looking to accept as many bonuses as they can at various casinos who have easily achievable requirements for cashing in the bonus offered. The reason a rollover requirement without additional requirements is dangerous, is because promo abusers could come in, and wager their bonus funds on event outcomes that have the highest chance of winning (i.e. a bet that pays out 1.04) in order to quickly meet the rollover requirement with a strong probability of not losing their wagers. After meeting the rollover requirement, these users cash out their funds and do not wager again. While user acquisition costs vary depending on region for sportsbook operators, the cost can run up to over $1,000 per player in some jurisdictions (such as the United States) due to generous bonuses. Having proper promo abuse rules, such as only being able to wager on events with -150 or lower odds, are necessary for operators to not hemorrhage money on their promotional offers.
Through our back office, operators are able to create custom, rules-based promotion campaigns. Operators can easily create deposit-matching bonuses, while customizing the rollover bonus, duration of the campaign and more. For operators who utilize our casino software solution, they are able to specify whether the bonus can be used in both, only the sportsbook, or only the casino. Our bonus system also enables operators to create promotions for VIP users, as well as unique promos that can be utilized for a variety of purposes – such as offering free bets to social media users or for specific events. In Section 5 of The Ultimate iGaming Operator Marketing Playbook, we cover in detail the ways that operators can leverage bonuses to grow their operation.
One of the most important customer acquisition tools for iGaming operators is having a robust affiliate program and management system for said program.
The Lion Gaming affiliate management system enables operators to easily set up the parameters of their affiliate program. They can set the default affiliate pay rate, how often affiliates are paid out, whether there are high-water marks for payouts or purely volume based, and more. Operators are able to easily generate reports to quickly find out which affiliates are driving the most traffic, what types of players they are bringing onboard, how profitable the players they bring onboard are, and adjust commission rates for individual affiliates.
For existing iGaming operators we strongly recommend you read our free guide on 10 questions to ask your existing technology provider, and for those looking to start an online sportsbook or casino, you can view these 20 questions to ask betting technology providers. To learn more about our bonus and affiliate management systems, or our turnkey iGaming software solutions, contact [email protected] today for a free consultation.
Looking for a deeper dive into player acquisition and conversion? Check out this post, which highlights the Player Acquisition and Conversion chapter of the Ultimate iGaming Operator Marketing Playbook!