Capitalists And Money

How are bookmakers standing out in a crowded market?

Online betting has meant the days of a trip to the local bookmakers are long gone for many. This has led to changes in the industry.

Punters have an almost endless supply of online bookmakers to choose from due to an increase in competition. Some will be the traditional names but smaller outfits have started to develop. Let’s explore how betting companies are standing out in such a crowded marketplace and the impact of technological advancements.

The changing ways that we bet

Historians believe that the first recorded bet on a sporting event occurred over 2,000 years ago. There is evidence that wagers were placed at the ancient Greek Olympics. Gambling as a pastime started to develop differently once internet usage became more commonplace.

If you fast forward to 2022, millions of people now use an online sportsbook and can place a bet on almost any sporting event. Fans will spend time looking for the best betting platform. This is where companies such as Pronet and their retail betting solutions come into play. They provide the software for several sportsbooks and aim for fans to get the best experience, which will be different for each person’s aims.

What are people betting on?

From a punter’s perspective, there has never been more choice. For all the key sporting events, there are several markets open. Some bookmakers will see a large amount of money placed at the start of the season. Looking at the world of the Premier League, many would have opted for Chelsea to clinch a title last won in 2017. However, their inconsistent form has led to many regretting that decision.

In-play betting has also become hugely popular. This is where the best platforms have the advantage. Punters will want a responsive phone app or website as any sports match can change direction within a few minutes.

For non-sports fans, there are other markets to mull over. You can decide on anything from whether it will snow at Christmas to which country will win the next Eurovision Song Contest. If you fancy the first UK win since 1997, you want the best odds possible. Like the sporting markets, these people will also look for the best looking and most reliable website or app.

Will we see more changes?

The ease of betting has had a profound impact on the whole industry. It’s worth asking whether we have reached a limit in how technology can impact the betting experience. They might look for areas of the industry to improve.

The bookmakers and website developers will constantly look for the best way to bring new customers in. Is it the website or app that needs to be made more attractive? Do they need to use more marketing and promotional campaigns? It will be fascinating to see how they attempt to stand out over the next few years.