Press Releases
Optimove Insights Report: March Madness to Boost Total Number of Bettors by as Much as 87%
Sportsbook operators can expect an increase by as much as 87% in total sports bettors during March Madness, according to a report released today by Optimove Insights, the analytical and research arm of Optimove, dedicated to providing valuable industry insights and data-driven research to empower B2C businesses. The Optimove Insights Report on March Madness Sportsbook Trends aims to equip sportsbook operators with valuable insights to enhance player value and optimize marketing strategies during the tournament which can be accessed here.
Optimove is the first Customer-Led Marketing Platform and the #1 CRM Marketing Solution used by iGaming operators.
Key Findings:
Increased Bettor Engagement: March Madness serves as a catalyst for heightened bettor activity, with a significant surge observed in the overall number of bettors during tournament days.
First-Time Depositor Behavior: Analysis reveals that first-time depositors are more likely to engage in betting activities at the beginning of the March Madness tournament, with a substantial portion participating in the initial stages.
Wagering Behavior: Players participating in betting activities over multiple days during the tournament tend to place higher wagers, indicating a correlation between sustained engagement and increased betting volumes.
According to Pini Yakuel, CEO of Optimove, “To leverage these insights effectively, sportsbook operators are encouraged to adopt targeted marketing strategies and employ journey orchestration techniques. With these insights, operators can tailor experiences for first-time depositors, ensuring maximum engagement and retention throughout the tournament and beyond.”
The report also offers other recommendations for sportsbook operators, including the following: Segmentation and Personalization: Understanding the diverse profiles of bettors is crucial for effective journey orchestration. Operators should segment customers based on their potential lifetime value and personalize their marketing efforts to cater to each segment’s unique preferences.
Retention Strategies: With approximately 50% of players not returning after their first bet, effective retention strategies are paramount. Sportsbook operators should focus on post-initial interaction engagement, offering personalized experiences and incentives to nurture and retain customers over time.
Data and Methodology:
The report is based on a comprehensive analysis of betting patterns observed during the 2023 NCAA March Madness tournament, tracking data from approximately 495,000 U.S. bettors and over 5.5 million bets. Data was collected from “Selection Sunday” (March 12, 2023) through the championship game (April 4, 2023), spanning 12 tournament days.
Optimove Insights is the analytical and research arm of Optimove, dedicated to providing valuable industry insights and data-driven research to empower B2C businesses.
Latest News
THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE
The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Ireland’s NYC Hub
The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.
The Americas division was established in 2023 with the launch of The Unit’s partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unit’s activity in the Americas.
This new base will be located at Bank of Ireland’s NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.
The project will be put into practice by The Unit’s Head of Business Development & Account Management Mark O’Hare, who has relocated to New York and will be responsible for The Unit’s commercial growth in the region.
With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.
Paddy Casey, Co-founder at The Unit, said: “These are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.
“This will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.
“This is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. We’re looking forward to mapping out our future in the region with our team on the ground there.
“I would like to thank Mark O’Hare for making the move to New York, and I’m sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.”
Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.
“We look forward to hosting The Unit and wish them well in their endeavors to grow their business here.”
The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.
As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.
Latest News
Golden Matrix Group to Participate in the 2025 ICR Conference
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
Canada
Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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