Navigating the Betting Industry: A Newcomer Survival Guide by Epom

The betting industry has long been an attractive avenue, but entering this niche is challenging, especially for those without financial backing. However, despite the daunting barriers to entry, newcomers can carve out a space.

In this article, Epom, a company of digital advertising products, will explore the current state of the betting industry, shed light on the hurdles new entrants face, and provide insights into effective strategies for attracting clients swiftly while optimizing expenses on technical solutions.

What’s Going On In the Industry

The betting industry is vast, encompassing sports betting, casino games, online gambling, and more. With the proliferation of online platforms, the reach of this industry has expanded even further. 

The global sports betting industry reached a market size of 242 billion U.S. dollars in 2022. Within this industry, there were over 200 thousand employees in nearly 25 thousand businesses, so the competition is crazy and will become crazier.

Moreover, the need for huge financial resources to build and sustain operations can be a daunting barrier for newbies. Marketing and advertising costs can also skyrocket, making it difficult for startups to gain visibility and attract a substantial customer base.

Essential Tech Stack for Betting Success

To thrive in the betting industry, newcomers must leverage a robust tech stack encompassing key business operations. Of course, there is no exact answer as it depends on the needs of each specific company. Yet, there are some recommendations:

1. Use secure programming languages – Python, Ruby, Java, or Node.js are nice choices for writing your website. Or you can use even more non-trivial languages like Erlang, which is considered to be the most secure.
2. Find a reliable CRM system – customer retention is as crucial as client acquisition. A well-designed CRM system helps manage customer relationships, analyze data, and tailor marketing efforts. You may pay attention to Optimove or BetConstruct. However, the database is the biggest treasure in this industry, so most companies have their own CRM.
3. Pick an advertising platform – it’s an integral element of launching a successful ad campaign. You need a place where all betting advertising activities are gathered with real-time analytics, advanced targeting options, and ready-made ad formats you can use to save time for making creatives.

Saving Money on Technical Solutions

Developing and maintaining the necessary technical solutions can be resource-intensive. Still, here are strategies that newcomers can employ to save money while still delivering high-quality services. 

• White-labeling – such ready-made solutions offer a cost-effective way to enter the market without extensive development. You can add your own logo, adjust the domain, change the user interface, incorporate branding into the product, and make the platform your own. 

Epom’s Sales Executive Sergey Shchelkov mentions, “if you own a platform, you have the right to ask for data from your supply or demand partner and use this info to improve campaign performance, make the targeting more precise, and avoid any ad discrepancies in your analytics.”

• Open-source tools – many software components needed for a betting operation, such as content management systems or analytics tools, are available as open-source solutions. Leveraging these can save money on licensing fees.
• In-house games/bonuses/free spins personalization development – there are providers offering a service for personalizing games/bonuses/free spins in the personal account, depending on the player’s preferences, like Everymatrix, Softswiss, etc. Of course, it is possible to outsource it, but if you decide to write the code by yourself, you won’t spend a fortune on developing. For security reasons, most companies develop such services on their own platforms.

Wrapping Up

While the betting niche presents formidable challenges to newcomers, it is not impossible to conquer them. As the industry continues to evolve, those who can adapt and optimise their approach stand a real chance of thriving and contributing to the dynamic betting world.

Having the Epom ad server in your tech stack, you can be more agile and ready to try a new advertising strategy in 2-3 weeks with the help of technical support. Learn more about and join the ranks of successful betting newcomers who are making their mark together with Epom.