What are the sports betting marketing strategies that big-time sportsbooks integrate today? Are they still spending a lot of resources on paid ads, or are they shifting to influencer marketing? We’ll answer all these big questions, starting with how important marketing is for sports betting companies.
Why is Marketing Important in the Sports Betting Industry?
There are a “million reasons” why you should be optimistic about investing in a sports betting business. According to Statista, the online sports betting market is set to reach $42.5 billion in 2023 and grow to $61.7 billion by 2027. Oh, and those numbers are only for online sports betting — this doesn’t count in-venue betting platforms.
Sports betting operators will be happy if more sportsbooks are available for bettors. Sports bettors can now place their bets and manage their picks right from their mobile devices. The numbers also back this up; the number of online sports bettors is projected to reach 174 million come 2027.
It’s a big market, which means it is also brimming with tons of competitors. For this reason, marketing takes on a new level of importance. If you’re entering the sports betting market, you need to maximize every channel you have, from your website to your social media platforms.
To help you get started, we listed down the best and most effective sports betting marketing strategies in 2023. Read more below to find out!
1. Prioritize Marketing Localization
It seems like centuries ago sports betting was viewed as some kind of a taboo topic. Sports betting is being legalized in more places, but there are still rules businesses must follow.
If you’re planning to enter a new sports betting market, you should always prioritize marketing localization. In a nutshell, this refers to making sure that your practices adhere to state-level policies. It’s important, especially in federal countries like the United States, where each state can have its own laws.
Localization helps you find out which sporting events, leagues, and players your target market likes. This way, you can customize your content visuals and messaging, making the most out of your marketing efforts.
2. Create Blogs and Podcasts
Do you want to make your target sports bettors believe in you? Well, you really have to show them that you know the ins and outs of sports events, whether that’s basketball, football, or baseball. To showcase your knowledge of sports, and sports betting in particular, you can dive into creating blogs and podcasts.
Websites with relevant written content could still garner a huge following today. But if you want to up the ante, you can invest your efforts and resources into podcasting. Sports fans often listen to their favorite podcasts and are likely to buy products advertised on those podcasts.
Creating blogs and podcasts is a natural way to engage with your target audience in content marketing. It’s like a gold mine for advertising campaigns.
3. Rank Up On Search Engines
Despite the boom of content marketing in other platforms like social media and SaaS providers, people still rely a lot on search engines. Google receives 89 billion visits each month. A highly ranked sports betting website can generate many sales from searches and attract users.
Creating an online sportsbook can be easier if you consistently improve your website’s SEO strategy. In addition to updating your keywords, check that your technical SEO is solid.
Of course, the most important aspect of betting SEO is to write content that’s highly informative and relevant. Keep up with the sports betting market, follow trends in different sports events, and engage your audience.
4. Take Up Programmatic Advertising
Sports betting is now legal in 37 states in the U.S., with mobile sports betting allowed in 28 of those states. That’s some massive growth from the lowly sports betting market that we knew a decade ago. If this is the landscape of sports betting and online betting today, how much more will it grow in the next 10 years?
But of course, the growth of this sector has its pros and cons. It is an ocean packed with big and small fish now, which means that you’ll have more competition to deal with.
To guarantee that your brand is seen and visible, you should also streamline your sports betting advertising strategy. One way to do this is to take up programmatic advertising, which is a dynamic technique of displaying ads on websites and apps.
Through a programmatic advertising campaign, you can optimize your ad’s visuals and messaging according to the interests of your potential customers. This is a surefire way of reaching new customers and letting them know about the unique selling proposition of your sports betting campaigns.
5. Enhance Your Social Media Marketing Strategy
Social media has reached a total of almost 5 billion users across multiple platforms, making it a viable channel for any kind of marketing strategy. The sports industry is no exception, as we always see sports teams and players engage with their fans on social media, maybe on Twitter or Instagram.
For this reason, the sports betting market is also “betting” big on the impact of social media marketing. It’s a great way to build brand loyalty, brand recognition, and brand credibility, especially if you can create engaging content on a consistent basis.
There are prerequisites to creating content for social media, though. To make sure that your content or social media ads don’t go to waste, verify that you have your target demographic right. To get the most out of your sports betting marketing campaigns, engage with people whose interests lie in your niche sports.
6. Moderate Your Paid Advertising Spending
There’s no harm in investing your money in paid ads. After all, this is a traditional marketing strategy that has proven to be effective in increasing brand visibility. But if you seriously want to be one of the market leaders in sports betting, you might want to moderate your paid advertising spending.
Paid ads are still effective, especially with the advent of programmatic advertising. However, it could prove to be too costly, and people might look at your marketing efforts as spammy.
The best way to attack this is to be balanced on both fronts. Go for paid advertising to reach a new customer base, then follow up with organic growth to build a loyal following. When you have a customer base that fully trusts your sportsbook business, you can bet on the fact that word-of-mouth marketing will further boost your reach.
Don’t rush your growth and don’t wait too long for those opportunities to come, either. If you can tread the line between these two effective marketing strategies, you’ll be able to attract users and get a higher ROI (Return on Investment).
7. Tap Into Influencer Marketing
Speaking of social media and its effect on marketing strategies, you could just look into influencer marketing and you’ll see how it is transforming the landscape.
Tapping into influencer marketing means leveraging the “influence” of niche experts and reaching their customer base. So, if you’re planning to collaborate with local influencers, it goes on to say that you should look for one who is popular in your niche.
For example, a sports betting platform could reach out to a sports content creator or a trusted sports podcast. This way, a reliable sports expert will advertise your brand, which would essentially help you reach your target audiences.
An effective influencer marketing strategy won’t just directly increase brand awareness but will also eventually drive organic traffic to your platforms.
8. Offer Referral Programs
Most of the popular sports betting platforms are now offering referral programs for their existing users. FanDuel, Caesars, DraftKings, BetMGM, you name it — they are all giving referral bonuses to existing customers who can refer a friend to their sportsbook.
Just like influencer marketing, you’re relying on word-of-mouth to spread the word about your sports betting business. However, there is one thing you need to do beforehand, and that is to build the reputation of your product first.
If your sports betting business is getting hit by negative feedback left and right, chances are your referral program will not take off. Your disgruntled customers won’t make the effort to advertise your product, even if you have an enticing reward to offer.
For your customers to make referrals, they must enjoy your product first. You could start by providing them with free bets and betting tips, along with offering promotional codes from time to time. Most importantly, your customer support capacity should be top-notch.
When you have succeeded in providing an excellent product to your bettors, the rest of the referral program will come easy. You could try a double reward system where both the referrer and the referred friend get a reward or come up with a tiered system that gives bigger bonuses as a referrer makes more referrals.
9. Try Your Hand on In-Venue Marketing
With the advent of digital marketing, people often wonder if traditional marketing is still effective today. It’s on a case-to-case basis that we can reflect on the relevance of traditional marketing strategy, especially in an industry like sports betting that is largely present in online platforms.
However, you could say that traditional marketing still holds a place in a sports betting marketing strategy. This is particularly true with in-venue marketing, where you can directly gauge your potential customers’ interests in placing a bet on a specific sports event.
Stadiums and sports bars are the two most popular in-venue marketing areas for sports betting, especially since they are populated with avid fans of both teams or players. Some of these arenas and bars have kiosks or booths where they can place their bets. Others won’t allow this, but you can purchase an ad space nearby or within the facility.
Either way, sports betting advertising in sports facilities is effective because you’re directly speaking to die-hard fans, increasing your chances for a higher return on investment.
10. Consider Email Marketing
Email marketing is always a tricky marketing strategy to figure out. If you force your way too much, people will get annoyed and look at your brand as a spammy one. There’s also the belief that you only get limited information about your target audience, which would be a handicap in terms of personalizing your messages.
While both of those statements hold some truth to it, you’ll be surprised to know that there are tools that can help you maximize email marketing. Tools like Mailchimp, HubSpot, Omnisend, Sender, and Dripify allow you to segment customers based on interests and customize your messaging for a more personalized approach.
Sports betting operators can utilize these email marketing apps to reach new bettors and aid them in user acquisition.
The Future of the Sports Betting Industry
As we mentioned earlier in the article, the future of sports betting is a very promising one. In fact, “promising” is an understatement; sports betting will see explosive growth in the following years, especially with more countries and states lobbying for its legality.
Along with the United States, sports betting is also very popular in these countries:
- South Korea
- United Kingdom
Take note that the aforementioned countries are just some of the areas where sports betting is most popular. Other countries also allow sports betting, although it is still not as widespread in those areas when compared to the countries on the list. For example, the Philippines has already legalized sports betting, although there are certain restrictions like bookmaker registrations and allowed types of bets.
Furthermore, the rise of sports betting companies has paved the way for their partnerships with other industries. You have FanDuel and DraftKings, two sports betting companies that have become the co-official partners of the NBA (National Basketball Association).
With an annual growth rate of 9.7%, there’s no doubt that the future is sunlight bright for the sports betting sector.
Key Takeaways For Sports Betting Marketing in 2023
Sports betting is humming to the tune of a smooth engine in 2023, thanks to society’s growing acceptance of its nature. As detailed throughout this article, here’s a quick wrap-up about today’s sports betting marketing landscape:
- Getting to know your local audience and state-level policies is a topmost priority in sports betting marketing
- The availability of programmatic or dynamic advertising makes it easier to customize your ad messaging to sports bettors
- Social media is a gold mine in promoting your sportsbook, so make sure to engage and re-engage with your target demographic
- The growth of sports betting will reach new heights in the following years, so we recommend regularly following updated policies and laws
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