Why You Should Add A Sportsbook to Your Online Casino
Are you looking to take your online casino to the next level? Integrating a sportsbook into your platform can help you diversify your client base and revenue streams, promote your brand and keep your players engaged. Sports betting software could be the missing piece that will turn your casino into a one-stop-shop for all things iGaming.
Read on to see the impact a sportsbook can have when harmonized with your existing online casino infrastructure.
Perhaps the most immediate influence sportsbook software can have on your online casino is a broadened revenue stream. The world of sports betting is a growing and increasingly lucrative market, and has great synergy with online casinos.
Sports betting has a tremendous grip on the iGaming market, and for good reason. It’s exciting, hugely entertaining, and potentially very profitable for operators. Harnessing this power and coupling it with a casino essentially doubles the sources of revenue for your platform. Not only does it provide an added benefit to your existing community of players, but it can attract new ones looking for a sportsbook and finding a platform that can do both.
Become a one-stop-shop with a sportsbook
By acquiring the ability to offer both casino games and sports betting, there is no reason your players should look elsewhere to satisfy their betting needs. Online sportsbook software makes the transition from casino games to a live sports betting environment seamless, so your bettors can toggle between the two at their leisure as games and live events happen.
Boosted player engagement
Sportsbook solutions also allows for greater player engagement. Sports betting in particular requires bettors to be extremely involved, as the consequences of live bets play out in real time. Having a wide variety of betting options on an array of live events can keep players on your platform for longer, potentially spending more money on your site.
Furthermore, sports betting is excellent at creating a community of bettors. Unlike many casino games, sports betting allows players to compete against or alongside one another by betting on the same game. Players can socialize about the teams or sports they follow, celebrate wins and commiserate about losses!
If adding to your roster of players is a goal for you and your casino, integrating a sportsbook is a great way to go about it. A sportsbook will attract customers beyond traditional casino players, and potentially entice them into trying their hand at your casino games. Casting a wide net broadens your target demographic, creating additional traffic to your site and increasing your revenue.
Attracting passionate, active players is the name of the game, regardless of their betting preferences. Catering to casino game players and sports bettors alike is a simple way to grow your presence in the market.
Come for the sportsbook, stay for the casino
By offering your existing players the added feature of a sportsbook, you’ve given them another reason to stick around. The last thing you want is your bettors leaving your platform to conduct their business elsewhere. Integrating a sportsbook gives them the opportunity to diversify their bets.
Imagine you are a player at your casino, and are accustomed to the platform and all of its offerings. Then one day there is a brand new sportsbook feature, customized to fit the branding of the rest of the casino, giving it an entirely different dimension. This shows your players the casino is evolving to fit their needs, growing and changing to keep up with market trends, and providing them with the best and most exciting technology. This is a major value add, and communicates to your players that you understand what their business is worth.
Cheaper player acquisition costs
The more strict and severe regulations surrounding online casinos result in higher barriers for entry to play. More time, effort and resources are needed to reach your target audience. Conversely, it’s generally cheaper and easier to advertise sportsbooks and sports betting due to more widespread legality and acceptance.
Furthermore, sports bettors typically have higher retention rates than online casino players. The high frequency of events, in combination with live bets, provide bettors with more opportunities to place bets and interact with your sportsbook. Bets can also be as large or small as the player desires, which is an attractive quality for bettors just entering the market.
Integrating a sportsbook provides you with a unique opportunity by becoming an extension of your brand. Having the ability to cross-promote your online casino to your sportsbook and vice versa increases brand awareness and visibility for both of your products.
We’ve already discussed the increased traffic you can expect with a sportsbook, but operators also typically enjoy an influx of marketing opportunities as well. Advertising with sports related media, websites, forums and social media pages increases exposure for your platform with a completely new demographic.
Furthermore, sportsbooks can potentially set your platform up to partner with sports teams or leagues in target markets. Cross promotions with a professional team can boost your operation’s credibility, in addition to providing unique opportunities for advertising on team channels wherever they are active.
Don’t miss out on the benefits of adding a sportsbook to your online casino. Contact us today to see how your online casino operation can benefit from Lion Gaming’s white label sportsbook solutions today!