The online sportsbook industry is competitive, constantly evolving, and booming with opportunity. For a newly founded sportsbook, entering the market can be both exciting and daunting. You have the chance to carve out your niche, attract a loyal customer base, and generate significant revenue. But it takes more than just opening up shop and hoping for the best.
Here are four key tips for newly founded sportsbooks to hit the ground running, capture customer attention, and set themselves up for success in an increasingly crowded field.
Prioritise Customer Support
Great customer support can make or break a sportsbook, especially in its early stages. Bettors need to feel confident that, should something go wrong, they can get the help they need quickly and efficiently. This means investing in a solid customer support team and offering multiple support channels, including live chat, email, and phone.
Your customer support team should be knowledgeable, friendly, and able to resolve issues as swiftly as possible. Whether it’s helping with a withdrawal issue or clarifying terms for a promotion, responsive support helps build trust and ensures that bettors feel valued. Offering 24/7 support is also a huge advantage, especially if your sportsbook caters to an international audience.
Consider implementing a robust FAQ section on your platform, where users can find quick answers to common questions. This can reduce the strain on your customer support team and allow bettors to resolve issues themselves without needing to contact support.
Offer Diverse Betting Markets
While mainstream sports like football, basketball, and soccer will likely be your sportsbook’s bread and butter, don’t limit yourself to just the big leagues. Offering a wide variety of betting markets, from niche sports to international competitions, can help you reach a broader audience and appeal to different types of bettors.
Explore sports that are gaining traction globally, such as esports, which has exploded in popularity in recent years and attracted a new wave of bettors. Having options for betting on esports events like League of Legends, CS
, and Dota 2 can attract a younger, tech-savvy audience that may not be as interested in traditional sports.
Other niche sports like rugby, table tennis, darts, and MMA can also be lucrative betting markets, especially if you operate in regions where those sports have dedicated fan bases. Even more traditional sports bettors often appreciate variety, so make sure you offer them a range of choices. This can also help boost engagement during slower seasons when major sports like football are in their off-season.
Beyond just offering diverse sports markets, consider expanding your bet types. Traditional bets like point spreads and over/under will always be popular, but more complex betting options like parlays, teasers, futures, and prop bets can keep seasoned bettors engaged. Live betting, in particular, has become a hit with bettors, allowing them to adjust their bets in real-time.
Competitive Odds and Bonuses
One of the fastest ways to grab attention and stand out in the crowded sportsbook market is to offer competitive odds and enticing bonuses. Odds are the foundation of any sportsbook, and bettors will naturally gravitate toward platforms that consistently provide better payouts. Make sure you stay competitive with industry-standard odds, or even better, offer slightly improved odds to entice bettors to choose your platform over others.
But it’s not just about the odds. Bonuses, promotions, and incentives can help differentiate your sportsbook from the competition, especially when you’re just starting out. Welcome bonuses for new sign-ups, risk-free bets, deposit matches, and loyalty programs are just a few ways you can attract bettors. However, it’s important to strike a balance. While bonuses can help bring in new users, they need to be sustainable for your business in the long run.
Make sure that your promotions are structured in a way that rewards customer loyalty rather than attracting bonus hunters who sign up solely to cash in on a bonus and then disappear. Consider offering reload bonuses for returning users, or set up loyalty programs where regular bettors can earn points that can be redeemed for bonuses, merchandise, or exclusive bets.
Transparency with bonuses is key. Ensure that your terms and conditions are clear, concise, and easy to understand. Nothing frustrates bettors more than hidden restrictions, so make sure you outline the wagering requirements, withdrawal limits, and any other stipulations in plain language. Building trust with your customers early on will go a long way in retaining them over time.
Focus on User Experience
User experience is everything in today’s digital world. If your sportsbook platform isn’t easy to navigate, users will quickly lose interest and move on to competitors who provide a better experience. The modern bettor expects speed, efficiency, and ease of use, so it’s crucial that your site or app delivers on all fronts.
Start by ensuring that your sportsbook platform is intuitive. The sign-up process should be seamless, with minimal friction, and the deposit and withdrawal options should be diverse, easy to use, and fast.
Bettors should be able to find their desired sports and betting markets quickly, whether they’re placing a simple moneyline wager or crafting a more complex parlay bet. Make sure your interface is clean and organised, with clear labels, menus, and graphics that make navigation effortless.
Mobile optimization is a must, too. Many bettors prefer wagering on the go, and your platform should work flawlessly across different devices. A well-designed app or mobile-friendly site can help boost user engagement, and ultimately, customer retention. If your sportsbook app is glitchy or hard to use on mobile, bettors will have no problem switching to one of the many competitors who offer a better UX.
Additionally, think about your UX in terms of personalization. Offering users tailored recommendations or quick access to their favourite teams, sports, or bet types can make a significant difference in how they interact with your platform. By enhancing the personalization of their experience, you’ll create a sense of connection, which can increase both engagement and loyalty.
Conclusion
Building a successful sportsbook is no easy feat, but by prioritising user experience and ensuring bettors have access to everything they could ever need, you can set yourself up for long-term success.
Remember that this is a marathon, not a sprint. In an industry as competitive as online sports betting, focusing on sustainability, customer trust, and continuous improvement will help your sportsbook stand out and thrive for years to come.
