888Sport Believes In-Game Betting is About to Surge in U.S.
888 Sport Believes In-Game Betting is About to Surge in U.S.
888 Holdings is a bookmaker that operates all over the world and now, with the Supreme Court’s ruling to legalize sports gambling, the company has made their way in the United States.
During a recent presentation, 888 Holdings’ Senior Vice President and Head of Commercial Development, Yaniv Sherman believes that the United States is ripe for a betting surge with in-game betting.
As it stands, the United States only makes 50% of their wagers on in-game betting as opposed to the 63% that the company books around the world.
These numbers are in drastic comparison to the fact that over 80% of all bets in the United States are now done via mobile devices.
In-game betting is ideal for mobile users who place a number of bets throughout the day but also enjoy watching the game to follow their wager.
Sherman feels that the in-game market is about to change dramatically once bettors experience the thrill of wagering as they experience the contest.
“Most (U.S. bettors) have played on illegal sites which cannot offer in-game activities and there’s a different preference that we want to cater to,” Sherman said.
“There’s more runway there because we know that in-play and mobile in general is a great equivocator in terms of volatility over time.”
Sherman pointed out to investors that over $150 billion is bet each year on sports but only 4% of that total is done through legal channels, leaving the rest for illegal bookies and offshore sites.
888 Holdings expects the U.S. market to adopt more in-game betting as a method to procure more legal betting and the company believes that should grow the overall revenue figures for sportsbooks.
What Are the Differences in a Bettor From the US and One From Europe?
Sherman demonstrated during the presentation that the bettor from the United States has a rapidly changing profile, unlike the more stable European gambler.
“I can pretty much vouch that the American player or consumer will look completely different in two, three, or four years’ time and different from the European one,” Sherman said.
“And we want to adjust our product for that.”
The adjustment that Sherman is referring to comes from the fact that US bettors are not playing casino games online as much as their European counterparts.
How Will Legal Sportsbooks Steer Bettors Away From Illegal Gambling?
One of the biggest issues that legal sportsbooks have when advertising is convincing gamblers that their services are legal and within the state’s laws.
888 Holdings has come to an agreement with Google to allow advertising on their platform for their gambling sites.
Until recently, the company did not allow any type of advertising in support of sportsbooks and online casinos.
888 Holdings is beta testing a program on Google’s AdWords platform, only in the state of New Jersey, to see if targeted advertising can draw new gamblers to their sites.
“It’s another development, and for us, it means this is good news,” Sherman said to investors watching the presentation.
“We are online animals; we are online DNA. This creates a competitive edge and it broadens the marketing pie for us to choose from.”
The company believes that by 2025, the entire map of the United States will have some type of legalized sports betting and they want to be ready when that time comes with new and exciting offerings.