Betting on Sports America Conference
Recently, we attended the SBC Betting on Sports America Conference. We were happy to see so many familiar faces and wanted to share some insights we picked up from panels and conversations with attendees:
- Everyone Wants In On Sports Betting: From the leagues (Hello, Adam Silver) to the teams, to the providers on the periphery, no one wants to miss the gambling train. Whether it’s to drive revenue or fan engagement, everyone is looking for their “in.”
- The not-so-clear path forward: As much as everyone wants to incorporate gaming into their business, the “how” and “when” are still yet to be seen for many. Some organizations aren’t comfortable putting all their efforts/funds into something they don’t have complete clarity on. This isn’t to say they’re not ready to pounce, but they’re not ready to pounce right now.
- Hello New Brands!: It’s rare for a “black market industry” to become legal. What was already a lucrative market is only going to get richer. This means organizations of all stripes and dependability are going to enter to get their piece of the pie. It’s imperative when you decide to partner with an organization that you know who they are, where they’ve been and where they’re going.
- New Game Types Are Being Created At A Record Pace: As new (and more) customers come into a market, more data and input on how they interact is made available to organizations. We are seeing a creative boom in the types of games, wagers, and markets that are currently being developed for future launch.
- There Can Only Be So Many Winners: Similar to what we saw happen with DFS’s rise and later leveling out, there will be some organizations that won’t exist when the dust settles. In our 10 years in the space, we’ve seen some great (and not some great) companies fail. When choosing who to partner with we recommend you look for companies who are agile, know what their consumers want and have some history in the space.
