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Ways to Incorporate “Sports Betting” into Your Gaming Strategy

Sports Betting for casinos - watching football at home

Prior to in-home mega screen televisions and sports packages on steroids, going to your local casino or bar to watch a sporting event was “a thing.” In fact, thirty years ago this February, I met my husband Brady at a Super Bowl Party. And although I am a casual fan, I do enjoy the atmosphere of sitting with friends, enjoying a beverage and a burger, and yelling at the television. Also, I am competitive, so having the ability to wager on the outcome of the game makes it even better.

Could legalized sports betting signal the return of the packed bars for college football, Super Bowl and NCAA Basketball? Let’s hope so. I would be extremely happy if we could draw crowds of soccer fans into our facilities like they do in Europe. Plus, sports wagers allows us to tap into this multi-billion dollar industry and the tens of millions of potential players who are already making bets on sports.

In spring 2018, the AGA commissioned the Mellman Group to study NCAA pools. They found that over 60% of the participants said that taking part in the pools made the games more fun to watch. Furthermore, the games were more fun to watch with friends, family or colleagues.

Whether sports betting is legal in your jurisdiction or you are awaiting approval, now is the time to develop a sports betting strategy. The beauty of sports betting is even if you are in a jurisdiction where it hasn’t been legalized yet, there are many ways to incorporate it into your gaming strategy.

Sports Betting and Tribal Casinos

Santa Ana Pueblo, one of the first Tribes in the nation to offer sports betting, is experiencing great success, in spite of critics who thought it could not work at their locations. For properties where a sports book is not financially feasible or legal, there are other opportunities to capitalize on a player’s sports interest.

According to Jerry Epstein, CEO of Engaged Nation, “It does not necessarily have to be with legalized sports betting. We have seen properties host very successful March Mania, Football Big Game and Triple Crown events. A little creativity goes a long way in being able to capitalize on the sports craze.”

Furthermore, properties of any size can benefit from this sports frenzy. Epstein goes on to say, “We are working with many small to mid-sized properties that have enjoyed tremendous success in both general engagements and from a financial standpoint. All this has been done in jurisdictions that have yet to legalize sports betting.”

Consider these tips:

1. Develop a plan

To ensure a successful launch of a sports betting product, you must first take inventory of how this product will be incorporated into your existing business. So often, we get an idea and launch it without developing a marketing plan and overall strategy. I’ve seen many new initiatives fail because an operation fails to take the time to plan for a successful launch.

2. Integrate

Determine how the program can be integrated into your loyalty program and website. Many property websites don’t adequately call out the locations where sporting events can be viewed. Many of those areas lack adequate food and beverage or seating.

3. Consider an app

Sports betting mobile apps are dominating new markets, along with gamification and loyalty products. These tools build player engagement on and off property. They are a great way to build loyalty and drive additional trips.

4. Look at your venues

Next, evaluate how you will incorporate this new opportunity into existing venues. If you offer sports betting but don’t accommodate the onsite guest experience, you can miss the opportunity to create a truly social gaming experience. At some properties, it may be as easy as adding more monitors and cozy chairs to an underutilized bar or gaming area. Refreshing a space, along with integrated signage and training your team, will improve the startup phase.

5. Get your players involved

With or without legalized betting, your hosts can use player’s sports interests to create intimate hosted events for specialty games or even a more significant event where your hosts compete with their players against each other on the outcome of the game.

6. Get your team involved too!

Bottom line, this can be fun and drive some life into our daily operations. Get your team involved too. Some organizations are creating team members pools to reinforce the guest experience.

Brady and I will spend our 30th Super Bowl Anniversary in San Diego cheering for whatever West Coast team may be in the game. Going forward, I am eager to discover the properties who get it right so we can continue our tradition of Super Bowl celebrations.

 

Reference: http://mellmangroup.com/10-billion-estimated-to-be-bet-on-march-madness-but-only-3-percent-of-it-legally/

This article was originally published in the February issue of Casino Journal

 

Deana Scott

Deana Scott