Chroma Sports is sponsoring Betting on Football 2017, the fourth edition of the largest international football and betting trade conference at Chelsea FC’s Stamford Bridge.
Ahead of the 3-5 May event, we spoke to Chroma Head of Business & Product Development Yosef Salameh about why football is such an attractive sport for betting, how the market is changing from a consumer perspective and how betting and football stakeholders can work more effectively together.
SBC: Why is football such an attractive sport for betting?
YS: The amount of televised coverage that there is of football plays a part in why betting on it is such an attractive proposition. The sheer volume of available markets for a host of games also makes it an appealing sport to bet on. There are often over 100 markets for any given big match, with a number of variations to get involved in.
Because a number of these can last/continue to the end of the match (unlike a simple correct score or result bet which can be down within five minutes), there is appeal to stay engaged with both the live sport and the bet you have placed.
The intrinsic nature of live football and social media platforms have allowed the betting companies to interact with customers to promote, engage and market their products, and often displays of punters winning large sums against these bookies is an attractive proposition for potential consumers.
SBC: From a consumer perspective, how is football betting changing?
YS: Gambling on football has changed hugely over the last five years. Whereas going into a bookmakers still has its own appeal, having everything you need on your phone or device makes it a very swift process and one you can get involved in at any point during a match.
Features such as in-play and cash-out have helped the market grow into what it has become. Another key element is the activation tools which some companies promote and allow fans – and even non-fans – to be a part of. These games and apps have grown in popularity over recent times, with cash incentives offered without a stake even having to be placed in a number of cases.
Such games have allowed a new target market and customer base to be reached and have allowed the betting companies to grow their brand in return for a fun, easy and appealing game. In fantasy sport, a move away from the classic format of season-long games have been replaced by daily fantasy and short form games, which are easy to play, don’t necessarily consume huge amounts of time or effort and can be resolved and resulted quickly.
This has allowed for a just-as-interested audience to thrive, without feeling like they have to commit hours of time per week to play the games.
SBC: How can betting & football stakeholders work better and more effectively together?
YS: Statistics and data are such a huge part of how the new breed of football fan engages with the sport. As the client demographic for bookmakers changes, the need for richer content and analysis, rises. The peripherals to any good sportsbook are becoming more and more important and the need to create a “destination site” for football fans is there for all to see in a crowded marketplace.
SBC: What new technology do you feel will have the biggest impact on football betting?
YS: Being able to create your own bespoke betslip is a big change in the industry. Being able to create your own betslip based upon whatever obscure outcomes you can think of has become extremely popular, as have the messenger services that allow you to do this. The slicker this process becomes, the more value there is to the end customer. The ability to converse in a personal way with your customer base will aid retention, and as we all know, retention is key in this industry.
SBC: What key agenda, debate or discussion do you want to hear at BOFCON 2017?
YS: The specialism that Chroma holds in the world of fantasy gaming makes the session on DFS and customer engagement especially relevant for us. Chroma products are all about using data and statistics to create engaging products for our clients and the rise of DFS has been a large part of defining our strategy.