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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:
- 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.
- 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.
- 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.
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PRAGMATIC PLAY HITS THE SWEET SPOT WITH FRUITY TREATS
Pragmatic Play, a leading content supplier to the iGaming industry, has added Fruity Treats to its collection of clusters pays Slots.
Five or more fruit symbols must connect horizontally or vertically to award a win in this vibrant 7×7 title, which features a variation of the popular multiplier spots mechanic.
At the start of each spin, four marked spots of different colours take up random positions on the grid. If a win forms over a marked spot, a starting multiplier of 5x, 10x, 15x or 20x (depending on the spot colour) will be activated. Each time a winning combination lands on a marked spot after a tumble, the multiplier is applied to the win and then increases by its starting value.
Hitting at least three candy scatters on a spin awards entry to the bonus game with 10 free spins. During the feature, which can be retriggered with five additional free spins, activated multipliers from marked spots do not reset between free spins, potentially leading to massive wins.
Fruity Treats is the latest cluster pays Slot in Pragmatic Play’s multi-award-winning range, joining recent hit Sugar Rush 1000.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “The roaming multiplier spots feature in Fruity Treats sets it apart from other successful cluster pays Slots in the Pragmatic Play portfolio, with marked spots staying sticky in the bonus game for even greater win potential.”
Pragmatic Play currently produces up to eight new Slot titles a month, while also delivering Live Casino and Bingo games as part of its multi-product portfolio, available through a single API.
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Kambi’s Festival of Sportsbook returns for fourth year
Kambi’s Festival of Sportsbook returns in June with registrations now open for a two-day content series featuring speakers from across the Kambi Group and insights covering the full breadth of the industry.
Taking place between 4-5 June, the Festival will be comprised of online sessions taking in topics ranging from UX optimisation and harnessing AI to maximising a summer of soccer featuring both UEFA Euro 2024 and the Copa América.
Erik Lögdberg, Managing Director of Kambi Sportsbook, will open the Festival with a session entitled ‘Exceptional, everywhere: meeting the increasingly high standards of an evolving market’, discussing how operators can develop their sportsbook to navigate changing consumer habits and fragmenting markets.
Kambi’s Head of Legal and Regulatory Compliance, Victoria Fernandes, will also be joined by Partner Success Manager Sabrina Andrade for a Portuguese language session delving into Brazil and how local operators can compete in the soon-to-be-regulated market.
Gerard Starkey, Kambi Group’s SVP of Marketing & Communications, said: “We are excited to once again be welcoming the industry to Kambi’s Festival of Sportsbook, and we look forward to sharing the sportsbook insights and knowledge the event has become known for. As ever, the agenda features a broad range of sessions hosted by experts from across the Kambi Group, providing plenty to interest those working in or with the sports betting industry today.”
Asia
2 RAIDS NET 10 CHINESE, 26 PINOYS FOR ILLEGAL GAMES, ONLINE SCAMS
The Philippine Amusement and Gaming Corporation (PAGCOR) today said 10 Chinese nationals and 26 Filipinos have been arrested in two separate operations against illegal gaming operations and online scams in Laguna and Parañaque City since Tuesday.
The first operation in Biñan, Laguna on Tuesday, May 1, resulted in the arrest of 16 people who were running an illegal online raffle on Facebook. The raiders are from the Philippine National Police Anti-Cybercrime Group (PNP-ACG) and the PAGCOR security group.
The suspects, which run the FB Page Lucky Dream 4, were caught red-handed in their office located inside a subdivision while livestreaming their 50th raffle event.
Earlier today, May 2, another group of suspects that included 10 Chinese nationals were arrested by joint elements of the CIDG-NCR and PAGCOR inside a house in Multinational Village, Parañaque for violation of the Anti Trafficking in Persons Act (RA 9208), Alien Registration Act (RA 562) and Cybercrime Prevention Act (RA 10175).
PAGCOR Chairman and CEO Alejandro H. Tengco said the arrests are part of the state gaming agency’s intensified campaign against illegal online gambling and other illicit activities through strengthened collaboration with law enforcement agencies.
“We have been receiving reports of illegal online activities including those in social media platforms. As the country’s gaming regulator, it is our duty to protect the public – especially the youth — from these illegal online gambling sites,” he said.
PAGCOR Senior Vice President for Security Cluster Raul Villanueva said Lucky Dream 4, which has 111,000 followers on Facebook, was conducting live online raffles that offered second-hand modified motorcycles as prizes.
Villanueva said that in one raffle event, the group can sell an average of 40,000 to 50,000 tickets, with each ticket costing Php40.
“They have amassed over Php8 million from the time they started this illegal online operation because in one draw, they can sell as many as 50k tickets,” Villanueva said.
“Ang masaklap nito, karamihan sa miyembro ng grupong ito ay kabataan. Ang pinaka-matanda sa kanila ay 27 years old pa lang,” he said.
“The Lucky Dream 4 group is obviously engaged in an illegal online gaming activity. Negosyo na ang ginagawa nila. They need to secure a license from PAGCOR if they want to operate an online gaming platform,” Villanueva added.
In the Parañaque raid, Villanueva said authorities arrested seven male and three female Chinese nationals believed to have been part of a group that managed to escape from an earlier raid on a large gaming compound in Bamban, Tarlac last March.
Nine Filipino female workers were also rescued, while one 1 Filipino male serving as a bodyguard was arrested for possession of an undocumented .45 caliber pistol.
The raiders also confiscated around 75 mobile phones, 30 desktop computers, 50 laptops, assorted credit cards, two cars and one motorcycle along with assorted Chinese government documents.
Two vaults were also found in the house located at 18 Teheran Street inside the exclusive subdivision.
Police said the Chinese suspects were engaged in scamming activities such as love and cryptocurrency scams similar to the illegal activities in the Bamban, Tarlac compound which was raided last March.
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