What the Sports Betting Market Teaches Us About Digital Transformation

If you want to lead a business through a digital transformation, it pays to look for some examples to follow. One of the most interesting ways this has been achieved is in the sports betting market, so what are some of the top lessons we can learn from how this has been achieved?

Give Incentives to New Users

Encouraging new and existing sports bettors to try the online process has been one of the keys to success in the move online. This has been done partly by issuing interesting incentives that people genuinely want to try, which could mean a free wager or a deposit boost.

We can see how this works with the offer to bet 10 get 30 from Betfair. This is available for residents of the UK and Ireland, with a £10 deposit using a debit card, followed by a minimum wager of £10 on the sportsbook. The full terms & conditions are listed on the site and let players know things like the minimum odds accepted and how long the offer is valid.

An approach like this can work in other industries where online expansion is a must. With some creative thought, deals can be set up to suit just about any industry, as long as it’s done with the idea of helping new users feel happier about giving the process a try.

Make It Easy to Get Started

For someone who is used to placing bets in a face-to-face setting, the idea of doing it online may be daunting at first. Equally, a complete newcomer who hasn’t ever placed a sports bet in their life may think that it’s probably a difficult process that requires some degree of expertise or experience to get right.

Yet, the leading operators have worked hard in this respect, to make the whole process easier than you might imagine. With just a couple of clicks, any user can find a sports event that interests them and place a wager on it. This means that there are no delays or stumbling blocks to put people off before they get started.

No matter what service or product is being offered, customers are generally resistant to change and some may fear new technology. By giving a fast-start option or a trial period, you can help to wipe out that fear right away.

 

Source: Pixabay

 

Add Diverse Options

One of the huge advantages of going online is that you can cram in more offers and diversify your selection. Sports betting gives us good examples of this too, as the biggest sites have expanded out to cover a greater range of sports, as well as the latest eSports events and bets from the show-business world.

This can be something that requires some time to think through, particularly in an industry that hasn’t changed much in the past. But the option of diversifying and creating new opportunities is too good to miss out on.

There’s nothing to fear from digital transformation when it’s done in the right way, and the example of sports betting lets us see how this has been done in a sustainable way in an area that makes sense for everyone involved.

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