The surge in the number of betting platforms
We have seen a massive rise in the number of betting platforms coming onto the scenery recently in the hope of taking their share of the now multi-billion-dollar market.
However, it is worth remembering that many of the household names worked extremely hard to get to where they are; the success didn’t happen overnight. In fact, it’s taken many years and thousands of skilled workers for them to establish their place in the market.
However, if you’ve got your betting platform, it might seem like an uphill challenge to establish yourself. Today, we’re going to look at how you can increase your chances of success.
Tips for success
There is no better time than the present to establish an online betting platform. Rather than traditionally having to physically go to a licensed betting shop, you can now simply log into your computer or smartphone and start betting instantly. This convenience is the main reason why online betting has quickly surpassed the in-person betting both in terms of revenue and players. Here are some tips that you should take into consideration should you want your betting platform to succeed:
• Offer a variety of payment methods to try capture as wide an audience as you can. Some online betting platforms have even started accepting cryptocurrencies as payment.
• A lot of people are hesitant to give their financial details out online. However, you can take steps to reassure them all is safe such as implementing a secure payment gateway and adding two-step verification to their account.
• Release your platform as an app. Most punters will rather use a dedicated app to access your platform simply because they don’t want to go through the hassle of typing in your website name into their browser every time they want to have a bet.
• Offer a variety of markets and events to bet on. Don’t just limit what players can bet on to the core sports. You can attract many new customers if you offer things that are different such as eSports or who will be the next Prime Minister.
• Provide incentives both for new and existing customers. Now-a-days, a sign-up bonus is typically offered by most online betting platforms, and others also have schemes in place to reward places for their loyalty through bonuses.
You might have already guessed that some of these tips were part of the winning formula but others not so much. Of course, there is a lot more that needs to be done to establish your online betting platform. However, if you take these tips on board, you’re by no doubt providing yourself with the best chance of getting ahead of the pack. The more you procrastinate, the more of an uphill struggle you’re leaving yourself to establish a position in the market.
Another essential aspect you’ll want to take into consideration is customer service. Social media has made it easier than ever for companies to respond to customers. You always need to make yourself accessible for customers should they have any issues or worries concerning your platform. This will give them a more positive experience and will heavily increase the likelihood of them returning to your site knowing that if they have any issues, you are only a few clicks away to have their issues resolved.
The future of online betting looks very bright indeed. With figures growing every year, and this means that more online betting platforms will start to appear. This means that the market will only become more saturated with competitors, and so there is no better time than straight away to start planning and releasing your betting platform. The earlier you establish yourself, the more chance you have of survival and more importantly, succeed. The more recognisable your brand is the more chance you have of capturing new customers and retaining existing customers as they’ll prefer to bet with a familiar platform.