Betinvest’s COO has shared his insights on the land based and digital industries.
Ukraine.- The betting industry is almost unrecognisable to what it was less than a decade ago following the growth of mobile and online gaming. However, the days of the industry living off the fat of the land are far from over according to Betinvest’s COO, Max Dubossarsky.
With much of the gaming industry focusing on their igaming presence going into 2020, Betinvest is ensuring its strategy continues to develop leading online solutions whilst capitalising on the land-based gaming across the globe. “We have 20 years of relevant sports betting experience, clients operating worldwide and professional teams of IT specialists, traders, risk managers and more,” he explained. “As a result, we know how to run a retail betting business in a way that is sure to bring our partners stable profit. Currently we offer a cashier system and betting terminal software, both of which we developed in-house.”
With so much online connectivity and emphasis on online and mobile betting, it can be hard for operators to see the revenue opportunities in offline. As one of the leading international sports betting products and solutions providers for both online and land-based services, Betinvest believes land-based operations can stand out by providing something different for their customers who are looking for a unique experience. “Customers who frequent betting shops tend to be the ones who, for whatever reason, don’t want to bet online,” he continued. “Often they’re people who want to be a part of the betting community and interact with people who have similar interests. This is a specific category of customers operators cater for and, despite everything becoming digital these days, not all players want to bet online, and offline services will be around for many years to come.”
Terminal solutions can form a key revenue source for land-based operations, according to Betinvest, not just through player retention but by reducing cashier workload, appealing to introverted players and expanding the visual demand by streaming races, sporting events, lotteries and virtual games.
“Obviously, betting shops will evolve over time to meet players’ requirements,” commented Dubossarsky. “What’s more, betting shop customer personalisation can help to make the player-operator relationship smoother. I’m talking about using an omni channel approach where players have a single account which they can use to access both online and offline services. Using this approach means that operators can get a better idea of the audience profile and preferences in order to get more players involved in their loyalty programmes. Betting shops can also tailor promotional offers to their customers attracting players to a particular betting shop via localised promotions.
“It goes without saying that betting shops’ locations and the quality of their customer service are also contributing factors to the success and profitability of land-based services.”
In terms of different markets, Betinvest is keen to highlight the growth in offline success across the international landscape but warns newcomers to the sector how retail betting will develop differently in every country. Max Dubossarsky said: “Its potential for success depends on the local regulations, the country’s economic indicators, the quality of the internet coverage and, last but not least, the level of competition from other operators. This is why it’s particularly difficult to predict overall long-term trends in this sector of the industry.”
For operators looking to work offline, Betinvest COO predicts five core hurdles which need to be overcome before setting up shop in a new market: ensuring regulation of a particular region will allow the business to be profitable; working with a provider who holds a good reputation; finding the right staff to deliver first class customer service; choosing an optimum location; and finally, marketing to establish trust in a brand and deliver relevant promotions to local players.
Despite the scope of online and mobile gaming continuing to grow, looking forward Betinvest is optimistic about the growth of the offline sector in every major territory internationally. The brand is keen for operators to share this optimism and invest across both sides, delivering world class gaming for all types of players in every country.
“Asia has a lot of potential for the development of land-based betting services,” Max Dubossarsky continued. “Community is a very important aspect of their culture, more so than in other parts of the world. As for Europe, the tendency there is for betting shops to be located outside the city centre, and often they are integrated with sports bars. The number of betting terminals is increasing and progress is being made in customer service.”
He concluded: “Over the next few years, the betting industries of Africa and Latin America will be largely reliant on their retail businesses. On the one hand, this is because having a physical presence is important for establishing trust in a brand, but on the other, it’s due to a lack of regulations for online services and poor internet coverage. When it comes to the US, gambling has always revolved around local casinos where everyone could come and play. This is still relevant today and will continue to prevail in the coming years, even though sports betting, including the provision of online services, has been legalised.”