The biggest component of the sports betting industry in the United States 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 Live 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 BettorView Live 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 BettorView platform delivers statistics from live sporting events, data from its sportsbook partners (DraftKings and William Hill) on odds movement so far, and other information directly to 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 Live 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. BettorView Live’s partnership with Edison Interactive, which provides software for companies like Avis and Verizon, could broaden the product’s reach.
Most importantly, Edison plans to help NJ sportsbooks integrate BettorView Live into their mobile apps. That creates a few possibilities for new revenue.
How BettorView Live could capture more revenue for partners
In essence, it’s new packaging for existing ideas. Sponsored content, with advertisements, is as commonplace in society as coffee shops.
The vast majority of the content you consume on the internet and television on a daily basis is created because some company paid for its production to entice you to buy something or use a service. For example, BettorView Live 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 their cheese sticks and wings.
Convenience is paramount to maximizing the chances of that happening. That’s an example of one way in which BettorView Live can monetize that content. By partnering with a delivery service like DoorDash, BettorView Live could integrate ordering right into the platform.
That’s what DraftKings and William Hill hope for as well: that sharing their data with BettorView will result in more New Jerseyans making deposits and placing bets.
Professional sports leagues could also benefit financially from the product. It could act as another outlet to put eyes on games and run ads for merchandise.
Naturally, all this depends on consumers flocking to the platform. 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. In the past, sportsbooks have attempted to drive some of that traffic and maximize the time users spend on their apps with components like user message boards.
BettorView Live 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 its strong social component. Family and friends participating in private leagues was a recipe for success.
If BettorView Live can replicate that recipe on a smaller scale, for individual events, it could lead to enhanced revenue for itself and its partners.