Introduction to online sportsbook Masterclass at GAT Virtual Expo
(Colombia, SoloAzar Exclusive).- Hugo Llanos, with more than 13 years of experience on the sportsbetting industry, specialized in the operational part, was in charge of the talk, within GAT Virtual Expo. He named some of the main concepts related to the sports betting world.
"GAT Virtual Expo is a great opportunity to reconnect with colleagues and friends from the industry despite these times of pandemic, thanks to technology," Llanos said at the beginning of the talk. “Let us always remember that we are in the entertainment industry. It can be sportsbooks, casino, poker, each user will choose their preferred form of play ”.
Then he made a score of the different actors and concepts within the sector:
-The operators, which are directly the bookmakers.
-Providers: There are all kinds: games, software, fees, streaming, e-sports and virtual games- They can be digital affiliates to advertise, it can be a payment provider, etc. The important thing, for example in the case of the provider of payment means, is that it is safe and provides 24/7 attention.
-Regulators: Their function is to combat the illegal market and ensure integrity in the region in which they operate. Also protect vulnerable groups: minors or gambling. They make sure everything is fair to users and operators.
-Betting theory: Soccer leagues, or match, career.
-Market: In the betting houses, each one has its arrangement, its distribution: the match or event and the available markets.
Handicap: Puts a team at a disadvantage that is statistically better than the other. It is done so that when you bet you have interest.
The theme of totals: It can be applied in terms of goals, points, corner kicks, to anything. But most of the time elections are + - 5. It is expressed that way in the industry to always have a winner and a loser.
Format: These quotas or prices can be displayed in different ways depending on the country or market. It is generally expressed in decimals. It can also be the fraction or stake system included. The American system (MX, USA) is measured based on 100 (how much you win based on 100 dollars wagered).
Management: The site for that user is acquisition (deposit), retention (entertaining and staying with us) and reactivation (a user who left for some reason and we have to find a way to attract him again).
User segmentation: Define them based on a certain mode of behavior with us on the site; based on betting patterns, how often you bet, what sport, which channel you prefer to communicate on, how much interaction you have with us, etc. We can also segment based on the stake or it can be by demographic factors.
The important thing, beyond segmenting it, is choosing what to do with that segmentation. I can take 3 variables and see, for example, that I bet little, and in that case I will try to make him bet more. In another case, a user who bets a lot but on only one sport, and I can try to interest him in another sport.
RISK MANAGEMENT: Segment users, analyze betting patterns - What selection can be combined.
“We have to have limits on the site, and control them: Analyze how much exposure and risk I want to take in the market. Define the maximum profit and maximum bet values that I will allow a user, (or an event). I can segment.”
Limits in pre-match or live, or by category (eg sports betting, sports, politics (who will be the next president of the United States), depending on the strategy. They can be limits by markets, by leagues, etc. We must have limits per user (normal, dangerous or VIP) This limit will be defined by the maximum profit that will be given to the user.
Another issue to consider is the marketing tools to attract or retain users. “There is a cultural and language issue per country within Latam and it must be considered when making a strategy”, he concluded.