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Sports Value has created deepened analysis on betting companies in the sports world. Other sectors that we create high specialization are financial market, sports equipment, retail, OTT and sustainability.
Global sports betting market
In 2019, the sports betting market moved US$ 77 billion, according to the WLA. Of this total US$ 34 billion in horse and dog races and another US$ 43 billion in traditional sports. Football accounted for 57% of the total.
Fans’ spending on sports betting in the world- Pre COVID-19
The pandemic greatly expanded the numbers and in 2021 the sports betting revenues reached US$ 131 billion. Market will reach US$ 200 billion in a few years.
A new US$ 106 billion is expected to be generated between 2020 and 2025. APAC will account for 39% of the total.
Sports betting in the USA helped to boost numbers and will grow exponentially for the coming years.
Brazilian market is one of the most promising on the planet. With the correct regulation can exceed US$ 3 billion per year and follow the USA trend.
Brazilian government loses important tax collection of a gigantic sector.
Sports marketing for betting companies
Betting companies are football industry endemic brands. It is a global movement, both in developed markets and in emerging countries.
All over the world betting companies invested in teams and competitions sponsorships. In generally they occupy important spaces at the clubs sponsorships, but represent financially less than other sectors.
According to Sports Value´s analysis the TOP 20 Brazilian clubs moved US$ 152 million in sponsorships in 2021 and more than 25% of this amount came from betting firms
According to data from Gente platform from Globo, the search term “bet” grew a lot in Brazil.
Evolution in the search for the terms “bet” and “bets” in Brazil
Sports Value´s Vision
Betting market uses bonuses to attract users. Sports marketing can reduce the Customer of Acquisition Cost (CAC), with more creative strategies and brand proposal.
Just as companies need to increase profitability in retail and use brand strength and storytelling for this, the same must do to betting companies.
Sports Value´s analysis identified that is more profitable and efficient to invest in creative marketing strategies with the fan, than simply offering bonuses to bet.
Experiences, exclusive content, unique promotions, cashbacks, and deeper analysis are the way to generate value and retain the bettor for much longer.
European countries have begun to limit sponsorships. The way is to build a healthy business for brands, focusing on the relationship quality with the fan/client.
Sports marketing can leverage the entire business, all 100% in the digital environment.
10 Sports Value Marketing strategies for betting companies
1. Exclusive content generation
The bettor is also a supporter. Offering new and qualified content is the best way for customer loyalty and retention.
Building assets through sponsorships and agreements is the way to generate unique content and huge audience.
2. Social media
Investing in creative and informative social networks will generate effective return. Most of the bettors are on social media and seek information and entertainment in this channel.
Social networks with 52% and betting companies’ websites with 63% are the means most used by bettors to get informed.
3.Teams and competitions sponsorships are the gateway, not the end
Betting firms should rather invest in high-impact properties such as clubs and competitions. However, depend on solely on visibility is very tiny.
Recurring and creative activations are the best way to leverage brands, increase revenues and retain fan loyalty.
4. Idols and influencers
Undoubtedly among the most important activations is the idols and influencers use to increase the betting companies’ brands.
Teams and competitions do not have idols and influencers strengths, especially in social media, among youngsters. And players and influencers impacts will increase in the coming years
5. More attractive services
Betting companies can and should seek technological innovations that increase services for users. The more marketing-oriented and data driven the experience, higher the return.
Differentiated analytics, cross-referenced sports information such as the data that Sports Value holds (finance, marketing and digital) will make all the difference for bettors’ decisions.
6. Create a community
Companies need to go far beyond bonuses to bet. The focus should be on creating an active community around the brand.
Betting will only be part of the revenues and bettors will feel part of a large ecosystem, generating more and more audience.
7.Create purposes
Brands need to go beyond the “sports betting” business. The focus should be on expanding the brand reach.
Having clear purposes, it expands brand impact and attracts new revenues. The purposes must have adherence to the brand and add positive values.
8. Financial education
Betting business is financial, it makes perfect sense for companies to contribute to users’ financial education. One of the biggest governments motivators in limiting betting advertising is its damaging effect on users’ financial health.
Talking about the theme is important in the brand building with different stakeholders.
9. Branding and storytelling
Just as sports goods companies are endemic to the sports Industry, betting firms have played an important role in the digital environment. Betting needs to participate in the fan lifecycle.
Choosing the correct storytelling and going deep into the fan’s relationships are the best paths for a betting company. Seeking influences at Nike, adidas, Puma, Under Armour are an excellent path.
10. Be a marketplace
Betting is the core business, but they are consumed only by a portion of the population. Sports Value’s strategies can create a large marketplace, with the company’s brand at the center.
In addition to direct revenues from betting it is possible to create new business lines, many of them even more profitable than the company central business and that generate enormous brand value.
