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Emerging iGaming Startups Leverage Unique Strategies for Early Customer Acquisition
A new study by industry investor Waterhouse VC has uncovered innovative approaches that emerging iGaming startups are using to acquire their first customers. This research involved extensive engagement with a range of companies, both B2C and B2B, in the online gambling sector, revealing a diverse array of tactics employed during the critical initial phase of their business growth.
The study found that high-touch customer engagement was the primary strategy for most startups. Tom Waterhouse, Chief Investment Officer at Waterhouse VC, emphasized that this approach, although not easily scalable, is crucial in establishing a robust customer base in the early stages. “Our findings suggest a shift from traditional methods to more organic, engagement-focused tactics,” said Waterhouse.
In terms of tactics, the report identified a clear dichotomy between B2B and B2C startups. B2B companies, like the B2B free-to-play game provider Low6, typically focus on one or two strategies. On the other hand, B2C startups, such as the online cryptocurrency casino Shuffle, tend to adopt a broader approach, often utilizing three or more diverse strategies for customer acquisition.
Shuffleâs success story was highlighted as particularly noteworthy. Ishan Haque from Shuffle explained their unique approach, “Instead of participating in traditional acquisition channels like streaming or traditional affiliate marketing, we recognized our edge in finding influencers with a small following, but that following consisted of 1000 true fans.”
Another approach that gained attention was leveraging strategic partnerships and networking, as illustrated by Circle Squared, a product and technology consultancy in the iGaming space.
Co-founder Clyde Harris shared how utilizing existing networks and forming strategic alliances helped them in acquiring new customers and raising their profile in the industry.
A surprising insight from the report was the lack of emphasis on paid advertising among these startups. This reflects a broader trend in the industry towards more organic growth methods and the importance of directly understanding and engaging with the target audience.
In addition to engagement and partnerships, incentivizing early adopters also proved to be a popular tactic, especially among startups like Voxbet, a Dublin-based âspeak-to-betâ technology company. “Typically, we have used exclusivity as the reward for an early adopter,” said Jonathan Power, founder and CEO of Voxbet.
The findings of this study underscore the significance of creative and high-engagement strategies for customer acquisition in the iGaming sector. As these startups continue to evolve, their innovative approaches to building customer relationships are setting new trends in the industry.
For a detailed exploration of all the tactics used, Waterhouse VCâs full report is available on their website.
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SIS and Premier Greyhound Racing reveal improved greyhound race time schedule
Sports Information Services (SIS), the leading multi-content supplier of 24/7 live betting services, and Premier Greyhound Racing (PGR), the media rights company supplier of greyhound racing to the betting industry and direct to viewers, have collaborated to offer a revised race time schedule starting from 20 May.
Designed to protect the long-term future of UK greyhound racing, the new schedule will see morning fixtures start slightly later – moving from 10.47 to 11.01 and 10.54 to 11.09. Additionally, there will also be a slightly later start time for some evening fixtures aimed at a retail audience, with the first evening fixture now starting at 18.08.
Commenting on the improved schedule, Terry Mahoney, Head of Business Development at ARC, said: âThe new race times will help make it easier for customers to navigate busy racing schedules as well as improving operations trackside. We will continue to listen, monitor, and adapt schedules where and when needed as we move forward to deliver the best service possible for betting operators as well as punters.â
Paul Witten, Managing Director at SIS, added: âWe are passionate about delivering a greyhound racing service that benefits all of the sportâs stakeholders. Together with Premier Greyhound Raxing, we have introduced a revised racing schedule that benefits operators and their customers.
âOur approach to greyhound racing is grounded in sustainability and flexibility. This collaboration with fellow service providers allows everyone to enjoy all the high-quality action produced on a daily basis from tracks across the UK and Ireland.â
SIS has long-term agreements in place with bet365, William Hill, Paddy Power and Betfred to deliver its greyhound content across UK and Irish retail and digital channels. SIS also promotes this content across dozens of leading international operators, as well as through SISRacing.tv.
PGR offers greyhound action, cards, video replays, results, news and info on greyhounds.attheraces.com, and regular live broadcasts on Sky Sports Racing. Premier Greyhound Racing is a joint venture between Arena Racing (ARC) and Entain, the global sports betting, gaming and interactive entertainment group. Between them, the two companies own nine of the 20 licensed British greyhound tracks and ARC manage the media rights for five independent tracks.
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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.Â
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.Â
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. Â
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.Â
Fruity Treats is the latest cluster pays Slot in Pragmatic Playâs multi-award-winning range, joining recent hit Sugar Rush 1000.Â
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: âThe 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.âÂ
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.âŻâŻâŻâŻâŻâŻâŻâŻâŻ
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Kambiâs Festival of Sportsbook returns for fourth year
Kambiâs 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 âExceptional, everywhere: meeting the increasingly high standards of an evolving marketâ, discussing how operators can develop their sportsbook to navigate changing consumer habits and fragmenting markets.
Kambiâs 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 Groupâs SVP of Marketing & Communications, said: âWe are excited to once again be welcoming the industry to Kambiâs 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.â
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