Can’t get no satisfaction – Q&A w/ Mateja Popovic CEO at Fincore

This is an industry where customer loyalty can be hard to come by, but is this because online sportsbook and casino operators are failing to meet player expectations? Mateja Popovic at Fincore believes so, but suggests that operators can mitigate churn simply by understanding what the customer’s next move will be before they do.

Player satisfaction and loyalty remain a challenge for many online sportsbooks and casinos. Why do you think this is the case?

The vast majority of online sportsbooks and casinos are yet to offer a truly personalised experience for each player. This means they are not meeting expectations, and this is why many players are tempted to try other brands. As a result, operators are spending to acquire players that quickly churn which means they are not maximising the full lifetime value of each player. Operators only have a small window of time in which to prove to the player they offer the experience they are seeking, and many brands simply fail to impress from when the player signs up, deposits and makes their first spin, to when they decide to try another site, sometimes just a day or so later.

Does this mean that operators need to find a way to predict player preferences so they can be sure to meet them?

Yes, operators need to know the customer’s next move before they do. This is the only way to deliver the right thing (odds, slots, promotions, interactions) at the right point in the user journey and at the right time. By doing this, operators can bring tremendous value and ensure the player experience is so good they will not want to switch to a rival brand because of a sign-up bonus – the operator will already be delivering tailored bonuses when the player expects them. It is how streaming platforms such as Netflix work, serving up content it knows you will want to watch so that you spend more time watching its movies and TV shows.

Is it actually possible for operators to be able to know a customer’s move before they do?

Absolutely. Operators generate a huge volume of raw data and cutting-edge platforms that use machine learning and AI, such as Fincore’s Tri, can translate this information into easy-to-understand narratives that can be instantly actioned. This gives operators a deep insight into expected player behaviour, from the likelihood they will churn to the probability they will be a VIP player. The process is real time and can be fully automated, throwing messages directly to the player on the site. Operators can use this information to personalise the player experience – unlocking the highest lifetime value from each player – and to also drive efficiencies when it comes to streamlining marketing – there’s no point in offering big bonuses to a player that is highly likely to churn – and more.

What are the advantages of being able to precisely calculate the player’s lifetime value?

There are so many upsides. By modelling player behaviour quickly, operators can determine whether a player is showing signs of leaving the brand. They can then either decide to elevate the experience that the player is receiving through targeted promotions and content or, if they are highly likely to switch alliances, use that budget on a player that is much less likely to churn or that has been identified as being a high roller. Operators can incur significant costs through undesired player behaviour, but by taking a look into the future thanks to the power of data, operators can cut back spending on “red flag” customers and invest more in those that show the characteristics of being loyal. We have helped one operator save more than €1.4m while increasing their revenue in 2023 with this method.

Does this combination of data, machine learning and AI also allow operators to identify VIP players?

Data combined with machine learning and AI can spot VIP player characteristics very early in their lifecycle with a brand, giving a probability score as to whether the player will become a genuine high-roller or not. Operators can use this insight to deliver a VIP experience to the player with confidence they will generate a positive return. Most operators generate the majority of their revenues from VIP players, so it’s vital that high rollers can be identified early so that operators can roll out the red carpet and ensure they remain loyal to their brand.

Personalisation seems to be the key to meeting player expectations so how does being able to accurately predict player behaviour help operators achieve this?

Consumers expect a personalised experience when engaging with an entertainment option and online casinos and sportsbooks must get better at doing this. With our platform, personalisation can be deep, including pushing particular sports, markets and odds for bettors and casino games for slot players. Bonuses can also be personalised – perhaps the player enjoys table games more than they do slots, so a table games bonus would add true value to their play. This would not be possible without understanding what the player is looking for before they know, and this is why it’s the key to unlocking true personalisation.