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The Innovative Strategies Propelling America’s iGaming Startups
It’s been six years since the Professional and Amateur Sports Protection Act (PASPA) was repealed, allowing each state to legislate sports gambling independently. In this evolving landscape, American startups have been at the forefront of innovation in the online gambling industry. Their fresh approaches and adaptive strategies have set new benchmarks in customer acquisition and retention, reshaping the market dynamics significantly.
According to a study conducted in March 2024 by Waterhouse VC, a comprehensive analysis of customer acquisition strategies reveals key trends and tactics employed by these startups. The study outlines seven primary strategies that have been pivotal in securing the first customers for these emerging companies.
Surprisingly, most startups attributed their initial user acquisition success to a singular strategy, with only a minority leveraging more than three methods. This focused approach underscores the startups’ strategic clarity in navigating the competitive landscape.
High-touch customer engagement emerged as the most popular strategy, emphasizing the importance of personalized interaction with customers in the early stages. This approach, often considered unscalable, proves crucial in building initial momentum and establishing a loyal customer base.
Interestingly, the report noted a significant omission – the reliance on paid advertisements was not a prominent strategy for acquiring the first cohort of customers among these startups. This deviation from traditional online marketing tactics signifies a strategic shift in the industry, highlighting the innovative thinking of these companies.
An overview of the innovative strategies employed by iGaming startups. Image: Waterhouse VC
QUOTES
âWe had to very quickly focus on being more ‘hands-on’ with customers engaged with unfamiliar sports and less traditional formats – both from a marketing and trading perspective. Be prepared to dive extremely deeply into how your vision translates into customer (revenue) upside.â â Joseph Dunnigan, Founder & CEO, ALT Sports Data
âEarly on, we realized that helping customers navigate the many common pitfalls of registering, funding, and betting with online operators was more challenging than expected. Due to the complexity of passing KYC checks, linking reliable payment options, and even navigating difficult to understand app interfaces, our hand-to-hand concierge services were uniquely positioned to support customers and operator clients alike. We overcame these challenges by dedicating ourselves to becoming the resident experts on our operator products in order to properly represent them with customers, and also seamlessly guide those customers through their respective journeys, regardless of their previous betting experiences.â â Jai Maw, Co-Founder & President, Betting Hero
âWe saw that in our product journeys where many potential users would see our prices/odds on another web property or chat group, and come to our site with the intention of placing a bet, but had difficulty procuring a crypto wallet (or understanding what this was). The CEO or another member of our leadership team reaches out to every single one of these users to try to ease the learning curve and onboard them to the site. This isn’t a scalable solution, but is highly important to do and valuable in an early stage company to learn about your customer base.â â Varun Sudhakar, Co-Founder & CEO, BetDex
“Prior to Low6, I had been running a sports events marketing agency and my co-founder was in retail bookmaking so we initially leaned on our connections in both fields to introduce them to our free-to-play pool betting app. We were quite fortunate that the app was built on social competition so had some early success with the power of network effects in building out our customer base.â â Jamie Mitchell, Co-Founder & Group CEO, Low6
âWe leveraged the anticipation and excitement of our waitlist by offering early access to those who signed up. This created a sense of exclusivity and urgency, encouraging people to join and engage with our platform. We implemented a strong referral program that rewarded existing users for bringing in new customers. This not only helped in customer acquisition but also fostered a sense of community around our platform.â â Jacob Fortinsky, Founder & CEO, Novig
“Choosing the right strategies and being willing to pivot when necessary is critical. While some methods may yield immediate results, others may require patience and adaptation. It’s about finding that balance.” â Tom Waterhouse, CIO, Waterhouse VC
Located in the heart of downtown Las Vegas, the Plaza Hotel & Casino will again celebrate New Year’s Eve with a full evening of celebrations in classic Las Vegas style, complete with a delicious dinner at Oscar’s Steakhouse, a special performance of the new and ever-changing variety show Mavericks, complimentary champagne toasts, and downtown’s only live fireworks show at midnight on Tuesday, Dec. 31.
The Plaza’s annual New Year’s Eve fireworks display is a spectacular show for people downtown and visible for miles.
The Plaza’s Carousel Bar located under the property’s iconic dome will be at the heart of the evening’s festivities. Carousel Bar will offer an unmatched location to celebrate the new year with handcrafted cocktails, and just steps away from the best vantage point downtown to watch the fireworks, the portion of Main Street in front of the Plaza that will be closed to vehicles during the show.
As part of its NYE Room Package, the Plaza will hold an all-ages viewing party of the fireworks for hotel guests only on its rooftop pool deck. The room package also includes 25% off room rates (two-night minimum stay) and complimentary early check-in and late check-out (based on availability). The NYE Room Package is available to book online.
Before the fireworks, the award-winning Oscar’s Steakhouse will offer a holiday a la carte menu with exclusive New Year’s Eve specials. Restaurant diners will also enjoy a complimentary champagne toast. at midnight while watching the fireworks show from under the dining room’s glass dome. Reservations are recommended and can be made online or by calling 702-387-7227.
Entertaining audiences with its fabulous blend of comedy, circus, burlesque and variety, Mavericks will offer an affordable 9:30 p.m. performance on New Year’s Eve without any holiday price hikes, proving that thrilling entertainment in Las Vegas doesn’t have to break the bank.
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino will hold Las Vegas’ first-ever $160,000 New Year’s Eve Super Bingo event, Tuesday, Dec. 31 through Wednesday, Jan. 1. If booked by Dec. 16, participants can play and enjoy a 5-night stay from Sunday, Dec. 29 through Thursday, Jan. 2 for just $400, with no resort fees (after Dec. 16 the stay and play registration price rises to $600).
Super Bingo players also receive as a bonus $20 in free slot play.
Revelers can end the night with an after party at The Sand Dollar Downtown, which will welcome The Moonshiners playing live Great Gatsby/Prohibition Pop from 10:30 p.m. to 1:30 a.m. There is no cover for the live performance, which is open to guests 21 years or older.
Award-winning crash game Aviatrix is now live in North America for the very first time, after securing a licence and certification in the Canadian province of Ontario.
Aviatrix has been granted a Gaming-Related Supplier (B2B) Licence by the Alcohol and Gaming Commission of Ontario (AGCO), meaning Ontario-licensed operators can now offer the game.
It’s the first time players in North America will be able to enjoy Aviatrix, marking another major milestone in the remarkable two-year journey of the game.
Aviatrix was helped through the AGCO licensing and certification process by BetComply.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: âWe committed to expanding Aviatrixâs regulated footprint, and this is another huge step. Weâre already present in many markets across Europe, so it is fantastic to add a province in Canada to the list. We are sure that players in Ontario are going to find Aviatrix every bit as enjoyable as their counterparts elsewhere.â
Aviatrix has added multiple new regulated markets over the past few weeks, including Italy, Sweden and the Netherlands.
It was also recently named âGame of the Yearâ at the EGR Operator Awards 2024.
The Arizona Department of Gaming (“ADG”) has taken action against an overseas gaming company in Curaçao that is allegedly operating illegal online gaming sites, Bovada.com and Bovada.lv (Bovada), accessible to Arizona residents. Following an investigation into the matter, the ADG sent a cease-and-desist letter to Harp Media B.V., which operates Bovada, on November 8, 2024.
The operation of Bovada in Arizona is alleged to be a felony criminal enterprise and Bovada has been directed to desist from any future illegal gambling operations or activities of any type in Arizona. Due to the unregulated and illegal online gaming offerings on Bovada, Harp Media B.V. is claimed to be in violation of Arizona gaming laws, including:
- Promotion of Gambling (Felony) — Ariz. Rev. Stat. Ann. § 13-3303.
- Illegal Control of an Enterprise (Felony) — Ariz. Rev. Stat. Ann. § 13-2312.
- Money Laundering (Felony) — Ariz. Rev. Stat. Ann. § 13-2317.
Harp Media B.V. has been directed to immediately cease all online (or other) gambling operations and activities in Arizona, and take the necessary steps to immediately prevent and exclude Arizona residents from gambling on their websites.
“We are actively monitoring the evolving landscape of online gaming and taking proactive steps like this helps us protect Arizonaâs communities and economy from illegal activities,â said Jackie Johnson, Director of the ADG. âOur enforcement team is committed to preventing unauthorized operations from establishing a foothold here. Arizona will not be a safe haven for unlicensed or unlawful gaming, nor will we allow unlawful entities to compromise the integrity of gaming within our state.”
In light of these developments, the Arizona Department of Gaming urges residents to exercise caution with online gaming activities. Only legal, regulated operations provide important consumer protections not found in the illegal market, helping ensure a safer experience for participants. Certain online event wagering is legal in Arizona. A list of all licensed and regulated event wagering operators legally taking bets in Arizona can be found on the Departmentâs website at gaming.az.gov.
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