The biggest component of the sports betting industry in the United States of America that operators are still trying to figure out how to fully capitalize on is the demand for an engaging social element to the experience. The BettorView video conferencing platform may provide a solution.
It’s more than just another video calling software product, however. The product could enable sportsbooks and other partners to monetize new digital real estate. Will it be effective where other attempts have failed?
Details on the BettorView video conferencing platform
If you’ve been on a Google Hangout or Zoom call with friends, you’ll get the general idea of the product. It’s a deeper, and strategic, experience, however.
The platform delivers statistics from live sporting events, data from its sportsbook partners (DraftKings and William Hill) so far on odds movement, and other information directly into the display. For better or for worse, it also features advertisements.
To date, the platform doesn’t have any streaming rights for major sporting events. So, BettorView is not something you can overlay while you stream Thursday Night Football on Amazon Prime, for example.
What might attract consumers, however, is the ability to have a private, virtual watch party with family and friends, centered around a certain live sporting event. A recent investment by Edison Interactive, which provides software for companies like Avis and Verizon, could broaden the product’s reach.
Most importantly for DraftKings and William Hil customers in NJ, Edison plans to help those two sportsbooks integrate BettorView right into their mobile apps. That creates a few possibilities for new revenue.
How BettorView could capture more revenue for several partners
In essence, it’s new packaging for existing ideas. Sponsored content, with advertisements, is as commonplace in society as coffeeshops.
The vast majority of the content you consume on the Internet and television on a daily basis is made because some company paid for its production to entice you to buy something or use a service. For example, BettorView has an existing partnership with Hooters restaurants.
Enabling food ordering while engaged in gaming has been tried before, most notably Burger King’s 2017 partnership with Sony. Hooters ads will try to tempt you to try the cheese sticks and wings.
Convenience is paramount to maximizing the chances of that happening. That’s an example of one way in which BettorView can monetize that content. By partnering with a delivery service like DoorDash, BettorView could integrate ordering right into the platform.
That’s what DraftKings and William Hill hope for as well. By sharing their data with BettorView, the two sportsbooks hope that will result in more New Jerseyians making deposits and placing bets.
Professional sports leagues could also benefit financially from the product. Not only could this act as another outlet to put eyes on the games, but run ads for merchandise as well.
Naturally, all this depends on consumers flocking to the platform. In order to become a household name among sports bettors and fans, the product must succeed where others have failed.
The struggle to provide a competitive social experience
An American Gaming Association study shows that sports bettors are active on social media. Sportsbooks have attempted to drive some of that traffic and maximize the time users spend on their apps that way in the past, with components like user message boards.
BettorView may prove more successful at this because of the video conferencing component. What drove the popularity of season-long online fantasy football, for example, was a strong social component. Family and friends participating in private leagues was a recipe for success.
If BettorView can replicate that recipe on a smaller scale, for individual events, it could lead to enhanced revenue for not only itself but its partners as well. What’s clear is that DraftKings and William Hill are willing to give it a try.