Flicking through the back pages of Saturday’s newspaper made us realise that things are heating up in the online betting world. No pun intended, the stakes are high and the return even higher. Online bookmakers are adopting aggressive, marketing strategies, flooding our media channels with endless content in attempt to gain a competitor advantage. If you’ve ever tuned into Friday night football on channel nine, you’ll know exactly what we mean, ad after ad from- Sportsbet to Bet 365 to the newly formed Ubet and everything in between.
Affording healthy budgets to their marketing and advertising teams has allowed these betting agencies to adopt a ‘take no prisoners’ approach. They know they’re competing in Australia’s most crowded market and battling for the consumer’s attention is harder than ever. Hence, why many have turned to a broader consumer experience (CX) approach to appeal, attract and win customers.
The rise in mobile devices saw the onus put on the online bookmakers to create the most intuitive, engaging and interactive mobile platform, and they did. In 2012 Ladbrokes entered the Australian market and introduced their ‘lad card’, which acted as an eftpos card linked to their Ladbrokes account. In 2014, Sportsbet released their cash card, offering a similar service. Likewise, this year Sportsbet introduced a revolutionary feature, called ‘cash out’ whereby consumers were able to pull out of bets at any stage and were paid the market value at the time. A few months later, TAB, Ubet and Ladbrokes all introduced the same feature to their platform.
It’s a, ‘if you can’t beat them, join them’ mentality and while this mentality creates conflict, it sets the tone for an interesting competitive environment. Conflict also enables creative thinking that inspires innovation and it’s innovation, which creates the point of difference (competitor advantage).
So we say keep it up betting brands. A healthy rivalry can be good for bringing out the best in people and ultimately – in this case – the consumer benefits. Game on!