As the Summer Olympic Games kick off today, a buzz of excitement fills the air, bringing profitable opportunities for sports betting operators. The timing of the Olympics, just after the UEFA Euro period, is typically a quieter time for sports betting, making this global event a golden opportunity for operators to maximize their benefits. SOFTSWISS, a leader in iGaming software solutions, shares valuable tips and strategies designed to help operators make the most of this major sporting event.
This year's opening ceremony breaks away from tradition, taking place not in a grand stadium, but on the serene waters of the Seine River. In a spectacular display, 10,500 athletes from 206 countries will float down the river on boats, creating a mesmerizing procession that sets the stage for the 2024 Summer Olympic Games. This unique start, combined with the debut of breaking (breakdancing) as a competitive sport, promises to draw in new audiences and add a fresh dynamic to the event.
While football, basketball, and tennis remain crowd favorites, the Olympics offer much more, with athletes competing in 45 different disciplines. This diverse range of sports presents an excellent opportunity for operators to attract niche sports fans. By offering diverse welcome bonuses and promotions, operators can expand their player base, drawing in newcomers intrigued by lesser-known sports.
Geo-targeting emerges as a powerful tool in this strategy. By allowing players to place bets on their compatriots, operators can tap into national pride and engage both seasoned bettors and newcomers alike. This approach ensures that betting experiences are personalized and culturally relevant, enhancing player engagement without causing adverse reactions.
To enhance the stability of their projects, operators are encouraged to familiarize players with a wide array of sports. Traditionally, team sports like football attract around half of all bets, making them a staple of any sportsbook. However, other sports such as basketball and tennis are also expected to garner significant attention, accounting for up to 40% of wagers.
Beyond these, sports like swimming, archery, gymnastics, and track and field also offer promising betting opportunities. By encouraging bettors to explore these varied sports, operators can diversify their risk and create a more balanced betting ecosystem. This strategy not only stabilizes the project but also keeps the betting experience fresh and exciting for players.
The Olympics, with its strong focus on national teams, provides a prime opportunity to reactivate inactive players. Events featuring national teams naturally stir up patriotic fervor, making them ideal for targeted marketing campaigns. One effective method is launching an email newsletter with country-specific offers and bonuses for bets on national teams. This personalized approach can reignite interest among inactive players, bringing them back into the fold.
Earlier this year, SOFTSWISS introduced the Sportsbook Budget Calculator, a tool designed to assist operators in budgeting and planning their sportsbook operations. This tool incorporates winning practices for launching a sportsbook, including a ready-to-use P&L calculator. By leveraging this tool, operators can streamline their budgeting process and ensure a more profitable operation.
Source:
''SOFTSWISS Shares Winning Sportsbook Strategies for the 2024 Olympic Games'', softswiss.com, July 26, 204.