The move to online betting in the 21st century means it has never been easier for bettors to add that extra layer of excitement to gameday. This does mean however that competition within the sports betting industry is tougher than ever as the legalization of mobile betting spreads across much of the country. With 17 states now finally pushing through legislation to make online sportsbooks legally available to customers and more expected in 2023, the market is full of high-quality apps. In order to have any chance of succeeding, they will have to make sure they keep up to that level and more as they battle their rivals for sportsbook supremacy.
Let’s take a look at the steps these providers make to bring the best experience possible to their customers.
Offer Great Odds
The backbone of any top sportsbook is the odds they offer to their customers. A flashy design and speedy servers will all mean nothing if bettors don’t feel like they are getting bang for their buck. Whether it’s outright winners, player props or parlays, oddsmakers must make sure they find the balance between making a fair return and offering enticing odds to customers. Offering the best odds for the most popular events on the calendar is vital, gamblers wager millions on March Madness each year, the nature of the event means many of the players are unknown entities or are lacking in experience on the big stage, so to get the March Madness betting odds right there must be a team full of experts and researchers in place. They must also be cautious with the offerings, if the odds are too high and generous, it can result in the sportsbook losing a huge amount in winning bets.
Expansive Markets
Most all sports fans know the ins and outs of the most popular markets. The easiest and most common bets to make are the moneyline, spread and over/under. If you are not familiar with these, the moneyline is simply a bet on who will win a game outright. This includes overtime. The over/under is a bet on whether the total number of points in a game will go over or under a specific number chosen by the sportsbook. Finally, the spread is similar to the moneyline, but the team you choose will play with a ‘handicap’ set by the oddsmaker. For example, if you bet on a team to win on a spread of -2.5, they must win by 3 points or more for the bet to win. Although these are the most popular bets, plenty of customers want a wider range of markets to bet on and more leagues. You can usually bet on 10+ different sports and hundreds of different leagues along with exciting markets such as player props, game props and team futures and even in-play bets whilst games are being played.
Usability
No one wants a clunky, slow app that is hard to navigate, especially if you are betting in play or are trying to wager just before tip-off. For this reason, sportsbooks must make sure they have a tech team working round the clock to deliver a smooth experience for customers. This can mean anything from updating odds and in-play statistics to the user display and servers. First impressions are very important. Studies show that the general user experience is critical for players in the sports betting market and if it is hard to navigate upon first look, they are unlikely to ever return to it. It is imperative that these apps are user friendly not just for returning customers but also for newbies who they hope to retain.
Deposit Methods
In the digital revolution, it is important that customers can deposit smoothly when betting. This is why many sportsbooks offer multiple methods of depositing cash. The most used are online banking and credit/debit cards but we are seeing more and more allow deposits using e-wallets containing cryptocurrency. You can also use PayPal, wire transfer and EGift cards with most good sportsbooks. You also have the opportunity to create multiple deposit methods on one account.
Bonuses
With such a competitive market on odds, plenty of sportsbooks will add further incentives for their customers to use their app. This is where they will offer bonuses and promos. There are plenty of examples of these and DraftKings have an extensive list of offers for both new and existing customers. Let’s take a look at some of their best.
- Referral bonus: For existing customers, if you have a friend sign up to DraftKings and deposit a minimum of $25 using your unique link, you will receive a free bet worth up to $100. The best part of this promo is you can use it up to five times.
- Free to Play pools: Existing customers can win cash prizes every day by climbing up the leaderboard in the DraftKings FTP Pools.
- Sign Up Bonus: New customers can get a sign-up bonus up to an incredible $1000 by using the promo code ‘WIN’ when they create their account.
