SBC News Voice of the Sports Betting Industry
Bet builders have proven one of the most influential products in the digital age of sports betting. At this week’s SBC Sportsbook Tech day, a specialist panel examined where the product will go from here.
Delving into the general share of bet builder bets among all bets, as well as how bet builder bets share can change in the future, were Aiden Barry, Head of Sportsbook at Fortuna Entertainment Group (FEG), Andre Zammit, Tipico’s VP of Sportsbook, Luke Saunders, Senior Commercial Director of SportsCast and Ivan Kurochkin, a 4H Agency Partner.
Zammit briefly began with describing the seasonality of bet builders, and how in Europe, for example, it is very much dominated by football. He continued: “Since we launched, we have seen an uplift trend.
“And at the end of the day, for the future, it’s a combination of having a high-quality offer, competitive pricing, a product that makes it really user-friendly, and at the end of the day building promotions around it to enhance it.”
Barry agreed that in the US and the UK it is a much more mature product, adding: “To the countries we offer bet builder to (such as the Czech Republic, Slovakia and Poland), it’s a relatively new product – probably three or four years behind.”
The Head of Sportsbook explained that America’s adaptation of the product was likely quicker due to its history of fantasy sports and customer familiarity with player props etc.
“It’s still in its infancy but the ceiling is very high and it’s a huge opportunity for Fortuna and other companies in this area,” he added. “Onwards and upwards towards the Euros and increase that penetration with our customers over the next few months.”
Meanwhile, with SportsCast being a global B2B supplier, Saunders shared insights on ‘both sides’, stating that the only other country that comes close to the US at the moment is Australia.
“They are pre-match heavy with the restrictions around in-play betting, and obviously a very mature market,” he said.
“I think if you’re talking to the 25% upwards potentially of turn-over, what makes bet builder so pivotal as a product is that when you’re running it two times the margin that you’d make on core betting products, that 25% can turn to 50% in terms of GGR.
“So in terms of impact, it really has been a game-changer.”
Notably, Zammit added that every sportsbook in the world either has, or plans to have, a bet builder product, comparing it as almost a ‘hygiene factor’ for a company. “No bet builder? I think you’re going to struggle,” he emphasised.
In looking at the general image of clients using bet builder offerings, Kurochkin commented: “With the way bet builder is built, it’s more recreational customers, smaller stakes, more frequency. It’s easier to make the game more exciting by combining different varieties.
“Honestly speaking, I cant see this changing. It’s not really a product that attracts that much sharp play.”
Further topics on the panel included how this image is changing, accumulators vs bet builder – key differences and what is more popular – as well as the general approach towards distinction between accumulators and bet builder and how it will change.
Meanwhile, the four also touched upon the key benefits of bet builder implementation for all stakeholders, how suited the product is to in-play betting and how that experience is going to improve over the coming years.
You can watch the rest of the webinar HERE.
