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BETEGY CEO Interview: Will Programmatic Transform US Marketing?

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BETEGY CEO Interview: Will Programmatic Transform US Marketing?

 

Programmatic advertising is the big venture in the US at the moment and seen as many by the silver bullet for US sportsbooks to make money and cut their marketing spend.

Already known as a real tech disruptor, BETEGY’s Creative Studio is the new kid on the block, with the potential to allow programmatic advertising to grow to infinite proportions. With that in mind, we spoke to BETEGY CEO, Alex Kornilov, about how these two innovations married together will provide a boom for ad campaigns in the US.

 

How is BETEGY’s new Creative Studio going to benefit the US market with programmatic advertising? Will it potentially be bigger there than in Europe?

The main aim of launching Creative Studio was to transform the creation and delivery of banner advertising and visuals for betting companies and the media.

In short, marketing spend on acquisition and retention needs to become far more efficient if any US sportsbook wants to start being profitable five years after PASPA repeal, and this is where Creative Studio comes in.

Our solution is designed to deliver targeted, tailored ads with the utmost precision and efficiency. Given that marketing (and indeed the acquisition of betting customers) is so expensive in the US, we believe that we’ve got the perfect product that can maximise reach and awareness while reducing the bottom line for marketers’ budgets.

In effect, given our product is powered by automation, our technology handles the same volume that would be required by an entire design department. So, without a doubt, we expect to see significant demand given it is exactly a major problem faced by the US right now – the need to greatly reduce the cost of acquisition.

Of course, with that, is the constant expansion of the US online sports betting market and with more and more US states becoming regulated every few months, I expect us to perform incredibly strongly and scale fast. That’s even before we get onto the fact that Creative Studio is super easy to implement in the US, given that there’s no challenge of overcoming the existing legacy systems that are holding back innovation in Europe!

 

How are US brands going to be able to deploy programmatic advertising with Creative Studio? What’s the use-case for such a product? 

It’s all about personalisation of ads and targeted delivery, and as a result – radically reducing CPA (cost per acquisition) for brands that deploy Creative Studio for their marketing campaigns.

Once you’re saving on CPA, the key is to massively scale your deployment of Creative Studio, meaning that you can then exponentially grow your audience, reach and awareness. Our product is designed to deliver with precision, so that everything is supported by a full-service real-time analytics suite that enables users to identify key sub-demographics as well as evolve their campaigns with live data.

In effect, Creative Studio will transform efficiency and results while reducing marketing spend, as well as putting in-house marketers in the driving seat when it comes to managing campaigns. Not only that, they’ll also be able to significantly reduce their reliance on outside agencies and take control of strategy in-house.

 

With a projected figure of $133 million set to be spent on programmatic advertising in the US in 2023, can you see any signs already that the figure mentioned might be too conservative?

When it comes to programmatic, it certainly looks like a small number- but this is because it’s still in its infancy, with the technology still being very early in the adoption stage. In many ways, this part of the market is only just developing, and just like any adoption curve for all major technological innovations over the last ten years, that curve turns into hockey stick-shaped growth on a graph when it really takes off.

If we take a step back and look at how much money is being spent on marketing in the US alone in our industry, we’re looking at tens of billions of dollars (at a conservative estimate). Once the benefits of programmatic become widely known and tech begins to enter the mainstream, the money will flood into this method of advertising.

In my view, just like all exponential adoption and growth, we’re seeing spend doubled almost every year, so we’re very much looking at a serious take-off in use, so no doubt within a few years’ time, we’ll be edging towards the first billion-dollar mark, and then even faster growth thereafter.

It’s easy to see why this type of tech offers so many benefits that make it a clear gamechanger – with it already in use by other industries, we’re now at a real watershed moment in the US, especially with the imperative for US sportsbooks to turning a profit for the first time. A product that can radically cut costs and CPA – as well as boost marketing efficiency makes clear sense.

 

In what states will programmatic advertising have the biggest impact for BETEGY? Can you talk us through your plans for Creative Studio’s North American rollout?

It’s already rolled out and in use! All the features and tech are already being deployed by a select number of our US partners. In short, everything’s already built-in, and it can simply be deployed with a flick of the switch. Of course, this isn’t just limited to sportsbooks and casinos but is readily available for sports media too.

In terms of impact by state, it’s all about demographics and the size of the audience. So, I have no doubt that larger states with significantly greater populations and betting demographics will see the biggest impact. So, the likes of New York and Maryland (for example) will be serious ones to watch, given their populations and the extent of major sports teams in the big four. Maryland, in particular, is a very interesting and intriguing state due to the small area size, but it has a wide range of top-class sports teams and a large population within a relatively tiny space.

 

Is there anything else that could rival programmatic advertising for marketing spend in the US this year?

The alternative to efficient, targeted spend delivered via programmatic will always be the big bucks focus on major budget ads such as MGM’s partnership with Jamie Foxx, or indeed, major placements during the likes of the Superbowl.

Of course, there will always be spend on tv ads and celebrity endorsements, but I think programmatic will provide a real edge over the competition by offering something that is truly efficient and targeted, which in effect, will complement each other perfectly.

So yes, in many ways – both go hand in hand and deliver in different ways. To my mind, the best strategy would be an awareness raising campaign with a big bucks focus and then programmatic to bring those leads through. However, if you’re a smaller, more emerging brand, I’d certainly advise going with programmatic rather than blowing every cent on a hit-and-miss celebrity endorsement!

Interviews

Social media: the new frontier for betting engagement?

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Social media: the new frontier for betting engagement?

 

Since the dawn of the internet, social media platforms have been a great way for people to stay in touch. And as mobile technologies have continued to advance, we’re now more connected than ever. In fact, you’d be hard pressed to find someone who doesn’t have a social media presence nowadays.

From Facebook and Instagram to LinkedIn and even TikTok, social media apps have become a staple of our daily lives. So, it’s no surprise that gambling brands are looking towards such platforms as a means of tapping into new audiences.

We spoke to Allan Petrilli, Managing Director of Acquire.Bet, and Troy Paul, CEO and Co-Founder of SGG Media, to ask whether social media is going to become the next battleground for audience engagement.

 

BetMGM recently made the news after partnering with the social media platform X, formerly known as Twitter, in a deal which has made the operator the first online sportsbook embedded within a major social media platform. In your view, what could this agreement mean for the industry?

Troy Paul: It is a very smart play for BetMGM. If operators want to reach the new generation of gamblers, aged 21 to 40, they MUST establish a solid presence on social media.

Ultimately, social media is where this generation gets their news, sports updates, scores and share content with their groups of friends. Ignoring the power of social media would be a big mistake.

 

Could partnerships with social media platforms be the way forward for gambling operators to reach new demographics of players? If so, what impact could such agreements have on player engagement, and subsequently, player acquisition costs?

Allan Petrilli: Deals such as the one signed between BetMGM and X, or DraftKings and Apple Sports, are examples of sports betting brands getting more creative in how they plan to boost brand awareness and consumer trust. They are deviating away from the more traditional advertising models such as TV and other forms of above the line media.

Focusing specifically on the BetMGM agreement, X is a vibrant, passionate community that is heavily engrained in sports. It really seems like a great fit for what BetMGM is trying to do from a brand perspective.

X is also a hotpot of bettors, and this will ensure they are more heavily engaged with the brand. When it comes to lower customer acquisition costs (CAC), that is yet to be determined, as they haven’t released specifics of the deal. As it always goes, it depends on what they paid…

Troy Paul: Absolutely! Partnerships between social media platforms and gambling operators will be key for those who want to communicate with the more digital conscious bettors. If you then compare this to advertising verticals such as television and radio, social media advertising is also much more cost-effective.

 

Affiliates can be an effective way to engage with bettors across social media platforms. How can gambling companies better use affiliates to build a social media following?

Allan Petrilli: Micro-influencers are becoming more popular than ever as a significant driver of affiliate traffic, and this is due to their strong follower engagement and brand loyalty.

Many affiliate companies have SIGNIFICANT social presence and have already established their own communities. These types of partnerships can effectively give brands access to a whole new demographic of customers in a more organic fashion.

Operators needs to continue to offer their social partners a more organic way to drive traffic, with shareable bet slips, better deep-linking and more thoughtful partnerships. As these partnerships become more commonplace, operators, affiliates and social media partners will need to collaborate much more closely to find the most effective strategies to build new communities.

 

As more operators turn their attention towards social media as a marketing tool, how can they best stand out from the crowd? Could we soon see more brands getting creative with their campaigns?

Troy Paul: Social media should be used to create a COMMUNITY of sports fans, and sports gamblers. You cannot create a community by sending only ads. You must create fun, readable, informative CONTENT and occasionally drop in an ad or sign-up link. Content is King in this regard.

As the sports gambling world continues to mature, the smarter, savvier operators will continue to use social media as a means of retaining their customers and creating a social media-led community of loyal customers that not only enjoy their content but also continue to bet via their brand.

Allan Petrilli: Standing out from the crowd isn’t going to be an easy task. You really need to establish your brand identity. The real question is: who is going to be the Paddy Power of the US market, right?

In the US, I think that so far, we have seen quite a buttoned-up approach to social media. I do expect that to change, but I think that change will be quite slow at first. This is where micro-influencers could play a major role, they could really offer a big win potential for sportsbooks and casinos.

Just from what I have seen, I think that many brands can take a much more localised approach on social media. The power for targeting is there, the time is not to have creative, offers, etc that match the local bettor to better engaged, convert and retain them.

 

With that in mind, what role can multimedia assets, such as video and audio, play in driving brand recognition?

Allan Petrilli: Creative content, along with more engaging offers, are the lifeline of any campaign or branding exercise. Brands need a strong mix of branded video, user-generated content, live and pre-game content, and cross-platform retargeting strategies to get the most out of what they do. It’s all about striking that balance and delivering content that the end-customer finds interesting.

Troy Paul: Video-led content is super important if you want to drive brand recognition. The savvier operators will use platforms such as Instagram, YouTube, Twitch, TikTok and other video platforms to create those communities and establish a solid following. Millennials and Gen-Z have been shown to enjoy this quicker, more engaging form of content so it’s worth tapping into the world of video content.

 

When it comes to promoting odds and betting statistics on social media, how can the industry as a whole ensure that player protection remains at the forefront of any social media activity?

Allan Petrilli: The first thing that sportsbooks and casinos need to do is look at how they are targeting their customers and how they are informing their bettors about exclusion lists. The power is there, it just needs to be used properly.

More educational content is also a very important factor when looking to ensure that responsible gambling remains at the forefront of your social strategy. Throwing around $5000 sign up bonuses without ensuring players understand what they are getting into is a potential issue. That doesn’t always need to be in the ad, but brand should at least be introducing better landing pages and terms for players to be aware.

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Interviews

Mexico in 2024: Committed to the cause

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Mexico in 2024: Committed to the cause

 

Mexican bettors demand localization on a different scale. An American approach to sports betting means they differ from other LatAm markets that have moved to decimal or fractional odds. As the population increasingly embraces a mobile-first approach, Altenar’s Sales Manager, Diego Salas, explores why the provider is best placed to meet the unique needs of Mexican operators in the flourishing market.

 

What is your view of the market at the moment and what makes it so promising?

Over the past three years, Mexican operators have experienced a significant migration from predominantly land-based, brick and mortar operations to an online-focused business model. As a result, more than 70% of sports betting revenue now comes from online customers, with internet and smartphone adoption becoming more widespread across LatAm’s second largest population. The increase in mobile penetration follows the emergence of a younger, more tech-savvy demographic with a median age of 30. They are engaging in sports betting in a more social way.

In keeping with this shift online, we entered 2024 with the release of our white-label mobile app which can be customized and places the sportsbook at its core. Approved across Apple Store and Google Play, it offers accelerated time to market, robust security and options for features such as Early Payout, Bet Builder and Player Specials. The mobile and online channels appeal to a new generation of bettors that require accessible, easy to follow sportsbook products at their fingertips. The app promises an ever-increasing number of sports and competitions with a network of official data partners delivering both quality and speed of data.

 

How does Mexico differ from its neighbouring markets?

Mexico is a distinct market compared to other Latin American countries and stands out due to its diverse sports culture. It is well known that soccer is the most popular sport in LatAm and at least 90% of bets still come from matches. However, in Mexico, bettors’ tastes are more diverse. Football sits among basketball, baseball, and the NFL as highly popular sports.

Unlike some of its neighbours, Mexico uses an American approach to odds, instead of the European decimal and fractional odds format. Altenar anticipated this difference by offering a flexible, localized platform to cater to specific preferences of Mexican players. Its user interface for Mexican players offers an American odds format to demonstrate provide intuitive navigation.

 

What will 2024 look like for Altenar in Mexico?

There can be no doubt that LatAm is a major topic of discussion in the industry. The gates are set to swing open to Brazil later in the year and Mexico itself is awaiting some regulatory updates following the legalization of online betting in 2014. As a result, Altenar acknowledges the need for boots on the ground in the continent.

We have just opened a Uruguay office to ensure we can best serve our operator partners across LatAm. We know it is important to them to access people working in the same time zone, who are integrated in their communities. The office will oversee operational aspects and instil confidence in our partners that they will have a team that is more easily accessible than other competitors.

In March and April, we will be at the IV International Gaming Convention in Mexico (12 – 14 March), SAGSE Latam in Argentina (20 – 21 March) and GAT Expo in Colombia (9 – 11 April). Our priorities at these events will be fostering our partnerships in the market and ensuring we are attuned to the regulatory developments across each country. Brazil and Chile are in the process of developing regulations and we are watching those closely, adapting accordingly. We will also be showcasing our flexible platform and features at these events, including our turnkey solution, SSBT and new tools such as Betting Insights, Bet Mentor and Bet Boost. Events are an invaluable way for us to refine our strategies moving forward and we look forward to meeting people over the next month.

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Compliance Updates

The Art of Staying Compliant w/ Greg Ponesse, Chief Revenue Officer at Compliable

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The Art of Staying Compliant w/ Greg Ponesse, Chief Revenue Officer at Compliable

 

How can operators and suppliers best ensure that they stay on track of ever-changing rules and regulation once they are live in a market?

Fundamentally, it’s about keeping a finger on the pulse of the market and curating a broad network of industry sources to ensure that you are up to date on any new developments. Industry press releases, newsletters and magazines are all excellent places to begin, and getting into the habit of checking regulator websites on a monthly basis is a good next step. In general, regulators maintain open communication with the public concerning new regulations; as it’s rare to have a dedicated contact person from any given agency checking in to ensure that you’ve kept up with any updates, however, it will still fall to you to make sure that you’re keeping current with any changes. Ultimately, it is always the responsibility of the licensee to ensure that it is compliant and, if mistakes are made, there are rarely, if ever, any get-out-of-jail-free cards.

Additionally, building a network of compliance professionals that you can reach out to on short notice can be a huge help, as urgent situations can arise without warning and require you to react quickly. It’s not always possible for every company to field an in-house compliance team that can deal with every request and change, even if that would be very preferable, so having experts just a call away is always a smart choice.

 

Compared with entering a market, how time consuming is maintaining compliance for teams?

While entering a new market is complex, maintaining compliance is equally important, and introduces its own challenges of minutiae and attention to detail. Renewal windows need to be carefully monitored, new regulations need to be constantly observed, and required updates need to be passed on to regulators in a timely manner.

These challenges are true no matter the size of the company in question. A small company could be licensed in 16 regions, with one person managing the process for all those markets. In such a case, that one person would probably need to spend a decent portion of their work days just to ensure that compliance was being maintained across all those markets, even if the individual number of licenses was low. A large company operating in fewer locations, on the other hand, might have thousands of employees and licenses to maintain for that location, and not one of those employees or licenses could be allowed to fall through the cracks. Each license would need to be tracked, and each renewal dealt with in a timely fashion. In either case, maintenance of compliance should be expected to take up a sizable amount of time.

 

Are there common mistakes that occur and what impact can this have on operations?

At the risk of sounding reductive, the most common mistakes are not filling out the application correctly or failing to include the correct documentation. Attention to detail matters so much in the process and taking the time to parse what can often be very complex sets of instructions is critical.

No matter the type of licensure, there is always going to be a large amount of information and documentation required, and making sure that you have all of that information and documentation at the ready before you begin is also critical to your success in the process.

Most simply, you could equate the process to that of buying a house. Everything needs to be in order before you place your bid, or it will fall through and someone else will likely swoop in and take the house right out from under you. It’s more or less the same when a company is going through the licensing process. If everything isn’t in order, you might have to wait a long time after submitting your initial application just to be told that something is wrong or missing. Once those issues are corrected, you would have to resubmit the application, starting from the back of the queue again. This would obviously delay the issuing of a license in an industry where first-mover advantage is crucial.

 

How can tech solutions help teams stay compliant once they are live in a market?

There are many ways in which such solutions can assist with compliance. Our platform, for example, allows you to input all of your information and upload all your documents exactly once, and to then output that information to multiple forms at the same time. It also tracks the application status, which can be very challenging to handle on your own if you are active in numerous regions or have a lot of employees. Furthermore, it reminds you of expiration dates, so you can be well prepared and organized when the time comes for renewals. Finally, because we store your information, you are also not required to re-enter all of your information year after year, making the renewal process much more efficient; you will only have to update information if the regulator has changed their forms, otherwise, everything will slot right in where it belongs.

We put an immense amount of effort into ensuring that our forms and other documents are kept up to date with all regulatory requirements and guidelines. Thus, when you use our service to generate forms for any application or renewal, you can be assured that you are filing the correct forms, and that all the questions on that form have been filled out correctly. In short, using our platform ensures that compliance teams can focus on other important tasks while resting safe in the knowledge that their licensure forms have been completed correctly, and that their licenses and renewals are being effectively tracked.

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