Many players get their first exposure to online betting drawn in by major sporting events, such as the 2024 UEFA European Football Championship, Super Bowl, and Summer Olympics.  

While revenue and profits derived from new players are always welcome, newbies are known for being one-and-done, and quick to churn. For operators, it’s worth trying to retain and turn them into active players, utilizing CRM Marketing to determine which of these new players can deliver long-term value. 

Most New Players are “One and Done” 

Many new players place their first wager around major sporting events to add to the excitement, a large number of them will do the same during Euro 2024. Optimove data shows most of these casual players will be immediately after the tournament. Hence, the term “one and done.” 

Data from Euro 2021 shows that one in four (25%) of new players who joined the action during the Euro remained active two months after the tournament, compared to 33% of all first-time depositors. In addition, six months after Euro 2021 just 18% of newly acquired players remained active compared to 23% of all players. That’s a difference of 5% in activity rate. 

Existing players’ betting amount is 3X higher than new players 

Existing players showed a threefold increase in their average sports betting amount in the year following Euro 2021 compared to newbies. Additionally, the average number of sports bets placed by existing players was three times (3X) higher than that of the newbies.   

We reached these findings by comparing the behaviors of two player groups: those who initiated their first deposit one month or more before the Euros and placed at least one bet during the tournament (existing players) and those who made their inaugural deposit and placed at least one bet during the Euros (newbies). 

The research focused solely on individuals who sustained activity throughout the subsequent year. In this context, “active” denotes players who engaged in one or more sports bets throughout the entire year. 

Four Recommendations for iGaming operators 

1. Improve retention by linking to other sporting events 

Get newly acquired players excited for additional upcoming sporting events. For example, Tour de France and Wimbledon will overlap much of Euro 2024. The 2024 Summer Olympics in Paris will start less than two weeks after Euro 2024. Those events spark interest, even more so if a player wagers on outcomes.  

Some new or casual players will churn right after the tournament, but by promoting future peak events, especially events starting right after Euro 2024 ends operators can enhance the likelihood of encouraging them to participate in other events, thereby increasing their lifetime value (LTV). 

2. Incentivize deposits & withdrawals    

Offer promotions exactly when newly acquired players need them most. For example, when their balance hits zero, immediately offer them a bonus to continue playing – like a reward on their next deposit or bet. However, do so prudently so as not to encourage someone showing signs of problematic gambling behavior.. 

Also, incentivize new players to continue depositing and playing as they make a withdrawal. Campaigns that include such offers have proven to yield better results and keep players loyal in the long run.    

3. Offer preferential bets  

Creating long-lasting, healthy relationships with newly acquired players after long-awaited events is complex but still doable. Give players plenty of choices – they want to control what they will wager on – so enable them to pick and choose the bets they’ll place on upcoming sporting events. Even after the big events mentioned earlier end, players will remember a platform for its flexibility, making it a preferred choice the next time they play.  

4. Personalize campaigns – it’s the key to retention! 

With Optimove, marketers gain access to unified player data, campaign creation, and advanced content personalization models – ensuring that each player receives the most personalized message on their preferred channel – every time. 

Euro 2024 is a huge opportunity to make the most of new players by providing them with unique and personalized treatment – the kind that’ll make them return throughout the year – and beyond.  

Opti-X, a native tool in the Optimove platform, streamlines digital experiences across various touchpoints, enhancing customer satisfaction. By leveraging Opti-X, operators can ensure a seamless end-to-end customer journey, leading to improved conversion rates and lifetime value.  

For instance, integrating Opti-X’s dynamic recommendations into emails optimizes key metrics like CTR, conversion rates, and average transaction values by learning player intent from initial interactions and utilizing signals such as previous bets and traffic sources. 

In summary 

CRM Marketing can guide iGaming operators in identifying players who can help optimize the bottom line. Remember, the key is to start with the player’s preferences and orchestrate a journey to optimizing lifetime value. 

For more insights, contact us to Request a Demo.   

Published on April 25th, 2024

Posted in

• Gaming
• Personalization

Guy Leshno

Guy Leshno, a seasoned PR and Communications professional, with a successful track record in leading PR strategies and projects in emerging startups. With over a decade of experience, his expertise lies in blending creative ideation, analytics, and expert writing capabilities, driving brand awareness, and improving sales.