The summer of 2024 features an extremely busy sports schedule. There are so many international and local events planned for the coming months that gambling companies have opened up a completely new range of opportunities to attract audiences.
Casino Market specialists have studied top expansion strategies from industry leaders. We will explain how wagering brands cope with competition and what tools are considered the best for retaining customers in 2024.
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Expectations for the 2024 Sports Summer
A lot of betting operators and providers aim to capitalise, earn solid money and expand their client base during the gambling business-favouring season. There are a lot of significant matches and celebrations ahead, which can bring the corporations amazing boosts in marketing and financial metrics.
Among the biggest summer events in 2024 are:
- the Euro 2024 (June 14 – July 14);
- the Copa América (June 20 – July 14);
- Wimbledon (July 1–14);
- the Olympic Games (July 26 – August 11), etc.
ANJ and DSWV, French and German regulatory bodies, predict a whopping €1 billion to be bet on the first sports tournament from the list above.
Kambi’s Head of Soccer emphasised the fantastic potential of both European and American football occasions, occurring almost at the same time and attracting a wide audience. In Jonathon Hurst’s opinion, the 2 events will evoke significant wagering interest for his company and its partners as the matches are essential for client acquisition.
The expert noted that the same situation has already happened during the Euro 2020 when almost 80% of the corporation’s new customers placed bids on that precise tournament. The spokesperson also highlighted the fact that 3 major sports occasions end on July 14, which makes the day a potential betting boom.
Focus on the Top-Level Client Experience
As there is increasing wagering interest, the gambling industry will naturally see enhanced market competition. The knowledge of how to stand out and practical skills in the field become very important during this period.
PR Manager UK & Ireland at Flutter Entertainment’s Paddy Power named major sports occasions key pillars for businesses in the sphere. According to Rachael Kane’s statement, betting giants always try to do their best in capitalising on these tournaments. She mentioned that the task requires exceptional skills and praised the studio’s team for being strongly focused on delivering the finest client experience.
The specialist admitted there is a lot of research, time and other valuable resources spent to ensure the proprietary offering caters to the audience’s needs. The company leverages the omnichannel approach in terms of customer engagement and studying user requirements.
Capitalisation Strategies of Bookmakers
The Betfred operator aims to benefit from British patriotism during the corresponding tournaments. The organisation is set to deliver top price on England’s victory and Scotland’s qualification from the group division. Before the season started, the company launched its new platform, which allowed for providing quicker and more streamlined user experiences.
Industry leaders also strive to leverage a wide range of wagering propositions and novel markets. Betfred’s Head of Media underlined the increased popularity of build-a-bets and other fresh offerings. However, traditional options will also remain in high demand, in Mark Pearson’s opinion.
The operator values football tournaments a lot. This is because Fred Done, the studio’s founder, opened his 1st betting shop after placing a winning stake on England’s victory at the World Cup back in 1966.
Mr Pearson noted that large sports events attract the attention of potential gamblers, especially if their home nation is part of the shows. It positively affects the wagering business’ turnover. Some of these newcomers have never placed wagers or have done it no more than a couple of times per year. However, in the case of major soccer tournaments, these people come to watch the games with their friends.
Most Significant Football Events in 2024
The Copa América and the Euro 2024 are considered the worldwide leaders in terms of attracting fans of the sports discipline.
Here are the opinions of the industry frontrunners:
- Betfred. Mr Pearson claimed another giant occasion in this regard, Royal Ascot. The studio is an official wagering partner of the event so it benefited a lot during this year’s performance on June 18–22. The expert noted that even news about elections cannot outshine media information on such large occasions as the Euros.
- Kambi. The team shares the previous opinion and considers the 2 major football tournaments the key targets in terms of its revenues. Mr Hurst expects to see a shift in his brand’s turnover difference between the competitions since the corporation has been investing in Latin American operations more lately.
- Flutter. The enterprise focuses strongly on the Euros, too. However, it also pays attention to other significant football contests this season. Ms Kane stated that if the team sees an emerging opportunity suitable for the company, it is always ready to make a quick move. She is proud of her colleagues for being precise, proactive, responsive and agile.
All the listed organisations are determined to make the most out of this summer’s events and have considered even the tiniest work aspects to prosper.
Client Retention as the 1st Step to Long-Term Success
The surge in internet traffic will be a great benefit for sportsbooks this season. However, when the tournament period ends, operators may encounter user churn or inactivity. Here, the importance of good retention strategies comes to the forefront.
Flutter is well-positioned to overcome this challenge, even though the market is saturated with wagering offerings. Ms Kane noted that the increased customer interest during large sports occasions is an inspiring outcome. Nevertheless, making punters fall in love with the brand and actively engage with it even after the industry noise calms down is a true satisfaction and the ultimate goal.
To increase the chances of retaining clients, gambling companies should have relevant experience. For instance, Kambi has gone through a similar situation with the Euro 2020. Back then, over 75% of 1st-time bettors from the event returned to the corporation again.
In Mr Hurst’s opinion, the key to transforming newcomers into loyal players is presenting a top-level product.
The expert is confident in the importance of:
- delivering offerings, launched during large-scale competitions, after the end of these events as well;
- showcasing perfection across the entire wagering platform and not only the football section as the most demanded one;
- ensuring customers enjoy their experience with different bet types as even the least popular of them can generate high retention levels.
This opinion is supported by Mr Pearson. The specialist is sure that the quality of client experience is crucial for retaining people during and after the biggest sports contests. He emphasised the importance of paying attention to all categories of punters, including those who cannot be considered major bettors.
The spokesperson mentioned that the rule is valid for all types of digital businesses. To motivate platform visitors to come back, it is vital to deliver great offers, client service and experience.
A unique marketing approach is also important when it comes to working with the audience. For instance, Flutter’s brand Paddy Power is widely known for its slightly ironic tone of voice, and it often puts this concept into its promotion campaigns. This summer, the studio invited Danny Dyer to humorously play on the English football enthusiasts’ image in Europe, which set the company apart.
Ms Kane also highlighted the significance of tightening connections with consumers and offering exceptional activities. This is why Paddy Power’s specialists have organised a penalty shootout to fly the 5 best participants out for the Euros.
She also said that putting customers 1st is a significant part of the corporation’s growth strategy. The team aims to not only entertain clients but also make them feel informed and safe enough to trust the brand.
New Partnerships and Adaptability to the Market
Kambi’s attitude towards company-popularising tasks is as follows:
- the enterprise prefers to employ a comprehensive plan to deliver top-rated products to its partners;
- the proprietary offering contains new bet types and those easily compatible with each other;
- the manufacturer regularly signs collaboration contracts with promising brands like LiveScore;
- the corporation perceives its associates as more than just customers and values cooperation the most.
The provider works closely with its allies and starts this even before the big industry events to learn the partners’ targets and growth strategies.
Adaptability skills also play a crucial role in paving the way to constant success. For example, Mr Hurst recalled how the 2022 World Cup saw extra time rising. Back then, Kambi’s team demonstrated excellent agility by updating its models in the live format.
One of the great assistants in such situations is technology. The developer has created an AI-powered trading department to drive its pre-match offerings. Tzeract is now incorporated across major football leagues. The division has learned millions of stakes to present a top-level proposition during big sports seasons.
Valuable experience is also crucial for Paddy Power’s specialists. Ms Kane emphasised how many massive challenges her brand has gone through, like the pandemic or Brexit. However, the staff remained flexible and managed to adapt to the new circumstances in a record time.
The Main Things About Preparing for the Sports Summer of 2024
As of now, it is difficult to predict the outcome of the season. The industry's giants will only summarise revenue and retention results towards the end of the year. At that time, the public will also have access to the companies' interim financial reports.
Outstanding bookmakers and wagering software suppliers have thoroughly prepared for the hot summer of 2024, forming effective long-term strategies:
- The key to growing an active customer base is the maximum range of offers. This could be broadcasts, tournaments, or real interaction with fans. Each of the methods has been tested by market leaders and gives excellent results.
- Once a pool of loyal customers has been formed, bookmakers must do everything possible to retain them. The best way to keep internet traffic is to provide players with quality service and vivid impressions.
- Industry leaders do not recommend focusing solely on the Euro 2024 or the Copa América. The more offers there are on the platform, the higher the chances of gaining loyal customers after the completion of major events.
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