With more US states opening their markets to regulated sports betting, acquiring and retaining customers in the high-value and highly-competitive market can be a challenge.
Speaking to SBC Senior Media Executive Erin Gallagher for GamblingTV, Yoav Ziv, LSports Chief Revenue Officer, focused on how greater personalisation and the use of bet stimulation products can drive a successful customer acquisition strategy.
“I believe this is very important, if you are following what is happening mainly in the US market, you see an endless battle on acquiring users and operators are bleeding money,” he said.
“The cost for acquiring new users is outrageous , it can even reach $5,000 for a user. You see big names like DraftKings and FanDuel just bleeding money for years.”
Pointing to current methods for cost reduction such as adding more coverage, providing faster payments, providing cash out solutions, improving UX and UI, Ziv added that it has come to a point where ‘everyone can just align with the rest of the industry’.
“Now I believe that the industry as a whole needs to think differently and not do more of the same, and unique and advanced technologies for bet stimulation and personalisation will allow operators not just to attract new players but retain existing ones,” he concluded.
“It’s not a secret all eyes are on the US market, which is definitely going to be the next hub for sports betting,” he explained. “Starting last year we have been seeing more and more states regulating sports betting, and we are seeing many states exceeding the $1 billion mark, which is crazy.”
The US will be a key focus of the sports data provider’s international commercial strategy moving forward, the LSports CRO maintained, with the company having secured the exclusive rights to the American Ultimate Disc League and the American Flag Football League.
Ziv added: “The industry is expecting this market to be larger than all the rest of the world, at least the regulated part of the rest of the world, so definitely we see the US as a major opportunity for LSports as well.
“We already started making some steps into this market with content, with products and US-based staff and organisation ,but I think the crown on top of this is the two US-based sports for which we have acquired exclusive rights.
“This is going to be amazing – imagine new sports for a fanbase which is crazy about sports betting. This is something we’re looking at launching this year, and we hope that everyone will enjoy the party.”