Marketing & Affiliates knowledge of market trends and state policy. This knowledge can then be leveraged by European stakeholders already equipped with their own strategic tools and resources. Ensuring their effective deployment, however, requires a comprehensive plan of action.
Marketing & Affiliates knowledge of market trends and state policy. This knowledge can then be leveraged by European stakeholders already equipped with their own strategic tools and resources. Ensuring their effective deployment, however, requires a comprehensive plan of action.
This is one of several areas where the existing sports betting market in Nevada will come into play. William Hill US, arguably the most influential name in Nevada sports betting, should inspire prospective entrants currently evaluating their priorities. These priorities will presumably include mobile app development, geo-targeting requirements and creating a symbiotic relationship between land-based and online properties.
The greatest takeaway from William Hill’ s success is the importance of preparation. It’ s difficult to predict which states will permit single-event wagering in local casinos and which of those will also eventually accept online wagers. But it is crucial to prepare corresponding strategies in anticipation of such clarifications.
Preserving integrity Many questions regarding post-PASPA marketing strategies will also be relevant while striving to build a positive image early on. Adhering to the guidelines that will serve as the foundation for the future of US sports betting must be a matter of policy from the outset, regardless of when individual states enter the market and, more importantly, when they go online.
While the US market is accustomed to regulatory bodies such as the New Jersey Division of Gaming Enforcement( NJDGE) and Nevada Gaming Control Board( NGCB), Europe has more extensive experience with the kind of ecosystem into which the US now ventures. As is the case with marketing strategies, adapting to state-by-state legislation will benefit from the combined expertise of local lawmakers and stakeholders as well as European brands that have grown proficient at anticipating and responding to newly implemented regulations.
Equally important to market perception will be buy-in from major North American sports leagues as well as the National Collegiate Athletic Association( NCAA). That buy-in seems inevitable, considering the NGCB’ s reporting that Nevada sportsbooks accepted over $ 4.8 billion in wagers in 2017.
The NCAA, which previously launched the campaign, will be subject to particularly close scrutiny. Between the Men’ s Division I Basketball Tournament( aka March Madness) and college football games that already average over three million viewers in the regular season, the potential wagering figures are considerable.
The importance of nurturing an image of transparency and honesty across all leagues is further emphasised by talk of integrity fees, which, somewhat controversially have been pushed by the NBA and MLB, and the possibility of state gaming commissions demanding accurate player injury reports. European stakeholders will be valuable partners in terms of establishing this image through their expertise with responsible gaming initiatives and developing productive relationships with league executives to address fraud and underage gambling.
Technology’ s influence Technology will also play an increasingly important role in maintaining the integrity of sports and sports betting in the US. Geo-targeting, payment processing and data collection are showing to be among the most urgent focus areas in the context of regulated sports betting, giving both established and start-up solutions providers the opportunity to carve out a larger place for themselves in the market.
In May, immediately following the PASPA decision, the NCAA announced a 10-year data collection and distribution deal with London-based Genius Sports. That was followed by the June announcement that sports data company Sportradar had partnered with UK-based Sportech in a deal that will see the tandem provide commercial sports betting solutions to the US, including Sportradar’ s trading and risk management services.
“ Adhering to the guidelines that will serve as the foundation for the future of US sports betting must be a matter of policy from the outset”
When considering the post-PASPA role of online and mobile gaming, exact timelines are uncertain due to legislative proceedings. However, once applicable legislation is passed, that role should prove considerable. This will open the door for savvy providers of front-end and back-end solutions to rise to prominence and / or further solidify their leadership position.
With Paddy Power Betfair reaching a deal to acquire FanDuel in May and DraftKings partnering with Atlantic City’ s Resorts Casino in June – an announcement that was preceded by DraftKings hiring a head of sportsbook in February – the two DFS giants are guaranteed to have prominent roles in a regulated market. With regards to technology, each brand already successfully engages millions of Americans via its own mobile app. And not only have DraftKings and FanDuel been committed to augmenting their respective core products, each also offers a companion app that facilitates player research and keeping up to date with league news.
These examples should be informative as individual states proceed with developing their own sports betting apps. While resulting products will likely be of varying quality, the cumulative insights from established European brands and US influencers with similar experience provide ample reason for optimism.
Based on these key focuses, patience and pragmatism will need to form the foundation for most US states, at least at the outset. To increase the chance of success, this practicality will need to be further supported by partnering with European brands that can provide an added level of expertise and insight on how to build an ecosystem in which sports betting can thrive.
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