As the Canadian betting market begins to expand with the acceptance of single bets, the strategy of operators in the region is becoming increasingly important.
Shortly before the adoption of the law on Canadian Gaming Summit Senior Director of Business Development at IGT PlaySports Vic Shrestha spoke to the CEO of SportsIQ Omer Dor when they highlighted how single betting markets are creating many new opportunities for sports betting.
Shrestha stated: “Ultimately this creates a fantastic betting product, the key is that you need to understand the terminology and so it all starts from the perspective of the operator – who will actually have the touch points with the patrons? Make sure everyone involved in the betting business knows what they are getting themselves into.”
He continued by emphasizing that the aforementioned knowledge of sports betting needs to be strengthened through thorough training, as well as taking the time to gain an understanding of the correct terminology that will become available.
In addition, he pointed out the importance of keeping the information accessible and easily accessible to visitors in order to give them the best strategy for new betting markets.
Betting on individual sports will not only open up new opportunities for bettors, but will also become a new challenge for operators in terms of pricing.
Dor then stressed that even though the final product may seem relatively flawless, the process of establishing odds and lineage is far from a "trivial task", especially when it comes to real odds and player props.
“Not having a lot of room to quickly respond to player injuries or lineups will really impact the operator’s profitability,” he said, highlighting how fast consumer habits are changing as betting opportunities open up.
He added: "Because it's not a trivial task, you really have one or two options and that's the internals to do it yourself, but you have to remember that every sport is different in terms of the modeling that goes into it.
"However, if you don't, you can rely on third-party vendors to substantially increase and provide you with those chances."
Shrestha continued this by stating that it would be wise to use the best possible supplier, demonstrating his conviction that the market is moving towards more outsourcing.
The Gaming Summit: Outsourcing is where the North American market is heading first appeared on GamblingTV.com.