The Evolution of Retail Sports Betting: Enhancing the Betting Experience and Driving Growth

Thursday, 4 January 2024

Many people still associate retail sports betting with traditional high-street bookmakers, where bettors line up in smoke-filled rooms to place small bets on major races. However, times have changed, and the retail betting experience has evolved significantly in most places.

As Kennedy highlights, operators can now utilize the latest technology to offer retail customers popular options such as in-play betting. This dynamic and interactive form of betting enhances the overall experience, providing more excitement and engagement. In-play betting enables customers to swiftly react to ongoing action and place instant wagers, all without needing to leave their seat. In addition to this convenience, they can remain engaged in their conversations or ensure their food stays warm. This not only benefits the sports fan, but also proves to be advantageous for the operator.

 

Tim Kennedy, Vice President of Sales Europe at SUZOHAPP: ”With the SBT-500+, every seat in the sportsbook becomes a revenue-generating spot”

Tim Kennedy

How is the world of sports betting evolving and how will retail betting shape its future? What is its ability to attract new customers in the face of increasing online gaming?

The sports betting landscape is undergoing dynamic changes propelled by technological advancements and shifting consumer preferences. While retail betting still has a role to play, its importance has evolved. The physical presence of a sportsbook offers a unique and social betting experience that attracts sports enthusiasts, acting as a hub for community engagement and event hosting —especially appealing to those valuing face-to-face interactions. The retail sports betting setting offers a social aspect that online platforms lack. Retail venues enable customers to connect with fellow bettors, enjoy live sports events, and share their excitement— a dynamic impossible to fully replicate online. These initiatives not only attract a broader audience to sports betting but also convert sports fans into enthusiastic bettors by delivering an enriched in-play experience.  By capitalizing on the social nature of sports fans, the industry can enhance its growth and profitability.

 

Moreover, retail plays a crucial role in driving growth in the sports betting industry by offering unique advantages that online platforms can’t replicate. Online betting comes with high customer acquisition and retention costs, making it less effective at acquiring new bettors. Additionally, it requires extensive user information upfront, which can deter potential bettors. On the other hand, retail locations provide an opportunity to easily convert casual sports fans into bettors. Individuals with little betting knowledge can anonymously place bets at physical locations without the necessity of online registration. This cash-based, anonymous approach ensures immediate responses to placed bets.

 

Moreover, retail sports betting generates revenue through enhanced customer engagement at the physical location. By creating an environment that enriches the sports betting experience and encourages in-play betting, retail operators can increase revenue from in-play bets and drive higher spending on food and beverages. This, in turn, translates into larger bills and increased tips for staff.

Our cutting-edge table-top terminal, the SBT-500+, effectively facilitates in-play betting in retail settings. Unparalleled in the market, this innovative station immerses customers in a sports betting experience of unmatched quality. With the SBT-500+, every seat in the sportsbook becomes a revenue-generating spot.

SB Ecosystem

Stella Burgi, Director of Communications at SUZOHAPP: ”We are excited to return to this year’s ICE and can’t wait to show you the exciting plans we have prepared for the show”

Stella Burgi

SUZOHAPP is set to participate in the upcoming edition of ICE London. What can you tell us about the company’s product lineup for the show and the main offerings?

We are excited to return to this year’s ICE and can’t wait to show you the exciting plans we have prepared for the show. Our spotlight will be on our comprehensive sports betting ecosystem, presenting a diverse array of offerings, including kiosks, tabletop options, over-the-counter models, and cash redemption terminals. Notable among our innovations are the SBT-2000 seated and the SBT-500+ bartop models, both available for live demos. These cutting-edge terminals promise a truly immersive sports betting experience, ensuring customer engagement and increased betting opportunities.

On the payout side of our ecosystem, we invite visitors to explore the functionality of the CountR CashIO Cash Redemption Terminals—self-service solutions ensuring easy and efficient bet slip redemption.

 

As the gaming industry’s trusted hardware partner, we’ll showcase our best-selling products from our component portfolio. From monitors and toppers to push buttons, coin validators, bill recyclers, scanners, and printing solutions, our display will feature a comprehensive array of top-tier hardware solutions. For those interested in customization, we will present examples of custom designs tailored for OEMs. Feel free to meet with our engineers to discuss our design capabilities and explore how we can cater to your unique requirements. Be sure to stop by and see all that we have to offer!

PRODUCT HIGHLIGHTS

 

SBT500+

SBT-500+ Sports Betting Terminal for tabletop applications

Whether at the bar, behind the counter, or on the sportsbook floor, SUZOHAPP believes that customers should be able to place their bets where they want and how they want.

SUZOHAPP has shifted the paradigm of where and how sports betting can happen with its terminals for bar top or tabletop applications.  Last year, SUZOHAPP launched the SBT-500, a cashless tabletop sports betting terminal designed to fit in video poker bar slots allowing customers to place bets seamlessly while actively watching a game. This year, SUZOHAPP takes it a step further with the SBT-500+, an updated model featuring cash acceptance through a bill validator and cash box. With dimensions matching those of existing video poker machines, this upgraded version allows for easy swap, facilitating anonymous cash betting at the bar and encouraging lucrative in-play betting.

The SBT-500+ is, by the nature of its design and location, perfectly positioned to help transition sports fans into sports bettors without the high cost of customer acquisition needed with a full platform download. While watching the game at the bar, a customer has the option to anonymously use cash to place an easy bet without the discomfort of standing in a queue or at a kiosk and with no pressure of other patrons waiting for access to the terminal. By enabling customers to be in the seat of the game rather than queuing at a kiosk or at a teller, operators have the opportunity to allow customers to maximize on in-play betting during live events while also contributing to Food & Beverage revenue streams.

The SBT-500+ is strategically engineered for various viewing angles and has a unique sealed spill-proof design with a 9° slant to prevent drink placement on top of the unit that tends to cause so many issues on many other bar tops. The underlit LEDS are software controllable, full-spectrum RGB and the base can be fully customized with baked-on powder coatings for colors or logos. Customers can simply scan their voucher or a QR code from their e-wallet to load the machine, place their bets and get a printed bet slip and a voucher with any remaining funds. Built with welded seams, quality harnessing, and fingerprint-resistant chrome and paint, the SBT-500+ maintains a pristine appearance after every use.  Designed to meet GLI-33 standards with platform software and specialized configurations, the SBT-500+ stands as a unique and pioneering innovation, offering customers an unparalleled betting experience. This marks the first of many innovations from SUZOHAPP in this space, dedicated to optimizing the end customer’s betting journey.





Author: Editor

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