The sports betting industry in the US is heading into a new era as the competition ramps up. Industry leaders, new challengers, and rebranded standbys are all vying for dominance in this expanding market. Behind the scenes, suppliers and third-party services are shaping the next phase of US sports betting. With this evolving landscape, the question arises: how can operators carve out a niche and differentiate themselves in this crowded space?
Derek Stevens, CEO of Circa Sports, emphasizes that the sports betting industry is still in its infancy, allowing room for operators to find their niche and cater to specific types of bettors. Stevens points out that just like the variety of restaurants in a city, there is a home for every sports bettor based on their preferences, and operators need to offer something unique to attract them.
Jake Nowry, of SIS Content Services, believes that offering a diversified portfolio of 24/7 content is crucial for operators to differentiate themselves, especially by including niche sports like esports to fill gaps in the market when popular sports are out of season.
Mark Nerenberg, COO of Simplebet, has seen success with same game parlays (SGP) and micro-betting products in the US market, noting that American consumers have a greater demand for these offerings. He highlights the importance of offering context to bettors and providing a high-quality in-play experience to keep them engaged.
Travis Geiger, co-founder of WagerWire, aims to revolutionize sports betting by allowing users to buy or sell bets in whole or in part, creating a marketplace for betting. He emphasizes the need for operators to engage with bettors and become part of the community conversation.
Sam Depoortere, from OpenBet, underscores the importance of customizing offerings to gain a competitive edge in the crowded US sports betting market. He points out that specific regulations and regulatory environments play a significant role in defining new market launches.
As the US sports betting market matures, operators are looking for ways to stand out in a competitive environment. With varying legislation across different states, understanding the regulatory environment is crucial for success in new markets. Despite these challenges, industry experts are optimistic about the future of US sports betting and the opportunities for innovation and growth in this evolving industry.