The Paris Summer Olympics begin today, bringing lucrative opportunities for sports betting operators during the typically quiet post-UEFA Euro period.
SOFTSWISS, a global technology expert with over 15 years of experience providing innovative iGaming solutions, shares valuable tips and strategies to help operators maximize their benefits during this major sporting event.
SOFTSWISS targets specific audiences
This year, the opening ceremony will be held outside traditional stadiums. The grand start of the 2024 Olympic Games takes place on the River Seine, with 10,500 athletes from 206 countries heading down the river in boats. A notable feature of this year’s event that could attract a new audience is the debut of breakdancing as a new competitive sport.
Operators have numerous opportunities for the Olympics, as well as popular sports like football, basketball and tennis. Athletes will compete in 45 sports, offering a strategy to attract fans of niche sports.
So, by offering various welcome bonuses, operators can expand their player base and introduce their brand to newcomers.
In other words, geographic segmentation is another approach. By allowing players to bet on their compatriots, operators can engage bettors old and new without causing backlash.
Alexander Kamenetskyi, Director of SOFTSWISS Sportsbook, shares: “The Olympic Games bring another unique opportunity to the table. This year, the Olympics follow the European Championship, allowing operators to re-attract “inactive” players who normally “wake up” for major football events such as the FIFA World Cup and the European Championship.”
Risk diversification
The stability of the project grows with the increase in the number of bettors familiar with different sports. Therefore, operators are encouraged to try to familiarize players with as many sports as possible.
Traditionally, bettors tend to bet on team sports like football, which is expected to attract around half of all bets. Other popular sports include basketball and tennis, which are expected to receive up to 40% of bets, with swimming, archery, gymnastics and athletics also attracting attention.
Alexander Kamenetskyi adds: “The Olympic Games offer a wide range of attractive sports for betting this year. Fans will no doubt follow the newly crowned European champions, Spain’s national football team.
Tennis, with familiar faces such as current French Open champions Carlos Alcaraz and Iga Swiatek, and its iconic venue, Roland Garros, is another highlight. We recommend finding interesting stories and promoting them to the public, using free bets or other bonuses to diversify betting interests.”
Reactivation of inactive players
National team events are an excellent opportunity to reactivate inactive players through various marketing tools. But the simplest method is to launch an email newsletter. The SOFTSWISS Sportsbook team advises its partners to create country-specific offers with bonuses for betting on their national team.
Kamenetskyi stated: “It is important to consider casino and sports betting as a single iGaming project. Therefore, this strategy can be easily applied to reactivate former casino players.”
Earlier this year, SOFTSWISS introduced the Sports Betting Budget Calculator. So, this tool includes winning practices for launching a sportsbook, and the ready-to-use P&L calculator helps with budgeting.
