New thinking for betting and igaming brands at ICE London

There's a golden rule in marketing - it's always more cost-effective to promote your products to existing customers than it is to find and convert new leads. Unfortunately, many brands and industries fall short when following this rule, and that's if they even pay attention to it in the first place. When it comes to sports betting in the US, it certainly seemed like that mantra never existed.

The saga of operators like DraftKings has been one of ups and downs, but the most recent development has become a net positive for the sports betting industry. Now that sports betting is legal, these sites have been incredibly aggressive with new customer acquisition. For example, new player bonuses and benefits are the norm, both with sports betting and traditional online casino gaming. In fact, DraftKings spent over $ 320 million in the first quarter of 2022 alone, highlighting this massive marketing boom.

Overall, the gaming industry has developed effective marketing strategies to bring new players to their sites. However, as marketing budgets have ballooned, these companies are faced with a more pressing question - how can they reduce costs and focus on retaining existing customers? This dynamic is not only more cost-effective, but it can lead to better customer satisfaction and more consistent long-term returns.

Simply put, it's not sustainable to keep searching for new players, even as new markets open up. So, how are sports betting operators going to adapt? Since the legalisation of sports betting is so new in the US, it's hard to say how the industry will shift in the long term. However, the best way to workshop ideas and develop solutions is to discuss them with industry insiders at events like ICE 2023.

Sports betting and igaming - Waves of the future?

It's clear that there's an immense demand for sports betting in the US and beyond. Plus, with igaming innovations and modern technology making it easier for players to place bets and collect winnings, this demand won't be dissipating anytime soon.

That said, as people get used to the idea of sports betting, the market will level out, and operators have to adapt accordingly. Thankfully, US-based operators can gather insight into a long-term customer retention strategy by talking with professionals at ICE 2023. Since sports betting has been legal in other markets (such as Great Britain) for years, new operators can learn at the feet of established brands to learn what works and what to avoid.

ICE is the world's leading exhibition and education program, meaning it's the perfect opportunity for insiders to learn and discuss the future of sports betting and igaming as a whole. Plus, these events often utilise an open space format to breed more in-depth discussions among attendees instead of lectures and presentations from a panel.

In addition, events like startup showcase Pitch ICE offer a platform for new entrepreneurs to discuss their ideas for making sports betting and igaming more viable in the coming years and decades.

If you're interested in seeing how ICE 2023 can help your sports betting and iGaming prospects, you can register here.

Merging technology and gaming demand - the iGaming Masterclass

While there's always something special about gambling at a land-based casino, online casinos are convenient and allow players to engage in their favorite pastimes from the comfort of their homes. So, operators need to know how to capture and retain these customers so they can succeed in the long term.

Fortunately, the iGaming Masterclass at ICE 2023 is the perfect place to learn how to build a comprehensive platform to turn new players into loyal and long-term revenue streams. Plus, as the gaming industry shifts and adapts to consumer trends, having a solid foundation will only become more vital in the future.

You can sign up for this innovative Masterclass here and discover how to shape your earning potential in the vertical.