Delasport’s Oren Cohen Schwartz: The advantages of adding a sportsbook for casino operators
In recent years we have seen more and more operators moving from pure casino brands to multi-product operations by adding a Sportsbook product.
Delasport CEO, Oren Cohen Shwartz tells us more about the importance of adding a sportsbook to the casino offer to protect and increase revenues.
Why should casino operators consider adding sports to their offering?
Pure casino brands that do not have a sportsbook risk losing casino players that also like to bet on sports, even at a recreational level. They will go to a different brand for sports, and if that other brand offers casino they will probably stay there.
So, it is a matter of protecting existing revenue. To generate a new revenue stream, cross-selling between casino and sportsbook players is crucial for operators looking to increase their ROI.
As online gambling and sports betting continue to become a mainstream pastime around the world, the competition is only getting tougher, and players are becoming choosier. By offering both verticals in one place, operators can offer both new and existing players more content to keep them within the ecosystem.
How will this affect casino player CPA?
It is well known that the cost per acquisition (CPA) of sports players is lower than that of casino players – by as much as 40 to 60%. That’s why casino operators should look to add sports as an offering, using it as an opportunity to expose those players to casino games through cross-selling.
What are iframes and how do they facilitate the addition of sports?
An Iframe (inline frame) is an HTML document embedded inside another HTML document on a website. In plain English, it is a very straightforward and quick task to embed a full sportsbook in your website or app.
Deploying a sportsbook iframe solution allows casino operators to add sports betting offerings easily and reach entirely new groups of players. From conversations with casino operators, I can share that most of them understand the need to add a sports product. Still, there is a misconception that integrating and operating a sportsbook product is super complicated.
Well, it is simply not the case. From an integration point of view, one of the key benefits of our sportsbook iframe is that it is straightforward and quick to add. For this reason, we named it Plug & Play. It is mostly the same process as adding a new slots provider.
Doesn’t adding sports cannibalize existing casino revenues?
Adding sports products does not cannibalize existing casino revenues but instead creates a new stream and helps protect existing ones. The brand will attract sports bettors which are a different audience altogether, and existing casino players will continue to bet as usual in most cases, with a certain percentage of them betting on sports in addition to their current spend.
What about operators who don’t understand the sports market?
For those concerned about lacking knowledge of sports and the operation side of things, this isn’t a fundamental requirement – as our partners gain access to a team of professional trading and risk managers who will oversee the whole operation for them.
What kind of things do operators need in their sportsbook offering?
A level of trust is required. Operators do not know how the RNG engine within the remote game server software works, and they need to trust the slot provider. Like that, the operator needs to partner up with a trusted sportsbook provider with the best product and expertise to run the sports product for them.
An excellent sportsbook will cover all required features in markets, from sports disciplines, betting options, mobile UX, cash-out, different odds format, multiple currencies and languages, scalability, etc. It is critical to also look for a solution provider with years of experience, especially when it comes to risk management. This can be done by hiring your own sports betting expert or looking for a sports betting solution provider that offers access to a team of highly professional traders and risk managers.
There should be a mutual interest to grow the business, with the provider also supporting the operator by adding features to their offering.
With so many sportsbooks out there, what is the ‘special sauce’ that operators should look out for?
Today’s players are looking for something more unique and exciting from their betting experience. That’s why we offer a sportsbook solution with deeper and more interesting features such as personalization, gamification and our new If Bet feature – which allows players to stack bets. We believe that such differentiators will be what ultimately makes one operator stand above another.
What kind of coverage can casino operators enjoy?
That depends on the solutions provider. For instance, among the benefits of the Delasport solution is its breadth of content, offering more than 100,000 pre-match and 70,000 live events across 125 different types of sports. The markets range from classic football and cricket to esports, virtual sports, and live tournaments.
The 24/7 broadcasting and analysis of the games create an endless pool of opportunities for the players to enjoy.
Additionally, the Delasport Sportsbook Plug & Play iframe solution offers a wide range of markets for every sport available, from money line and over/under to the more niche betting markets like first-half exact goals, alternative 2nd half three-way handicap, and more.
This vast selection of events and markets enables your player traffic to ease into the sports betting environment and ensures greater player retention in turn.
How would you summarize everything in an elevator pitch to an interested operator?
Sportsbook Plug & Play iframe allows you to get all the benefits of adding a sports product to your brand. It is quick, and you don’t need to have the know-how in sports. It is as simple as adding a new slots provider.
The sportsbook Plug & Play iframe blends seamlessly to the operator’s website, and has the same color, fonts, and so on – plus the operator is in complete control over his exposure through limit configuration and reports. It really is the best way to enter the sports betting market, fast.