Optimove World Cup Pulse: FTD weekly conversion rate at 37%
Optimove presents the latest KPI data from its newly launched World Cup Pulse tool
This World Cup offers a bunch of firsts of its own – the first World Cup hosted by a Middle Eastern nation, the first held in December, the first to hold indoor games, and more.
Today we offer another important first – although one that’s probably not as spectacular in slow motion. We call it the World Cup Pulse and it’s the first-of-its-kind World Cup Benchmark Tool explicitly built for the igaming sector.
Using this free tool, operators and marketers, and anyone with an interest in the industry can get unprecedented daily visibility into key metrics and KPIs. The data represents 100+ brands and hundreds of millions of player touchpoints in a five-week perspective and compared to a baseline of June 2022. We chose that month as no major sporting events occurred. That allows everyone to truly appreciate the effect of a mega-event like the World Cup on player behaviour.
Let’s look at where we stand, as a baseline for future reports.
Average bet amount per bettor
Using June 2022 as a baseline (0%), the graph shows a sharp decline in average bet amount around 7 November. Strange? Not necessarily. Optimove data shows a huge spike in new players ahead and during mega events like the World Cup. While as a result the total bet amount spikes, the average tends to drop as these causal players bet smaller sums. It’ll be interesting to see if the average sum rises above the benchmark in the coming days.
Average bet amount per bettor – UK
Let’s have a closer look at some of the main protagonists this tournament. In the UK we detect a similar drop around 13 November, at the moment UK players are pretty much aligned with the rest of the world. We expect that to change as England joins the action.
How do Brits compare to, let’s say, Brazil?
Average bet amount per bettor – Brazil
The same behaviour persists. A drop was recorded starting 12 November, which once again may indicate new players begin to get involved. Average bet amount is higher than in the UK and very close to the baseline. Brazilians are ready.
Let’s make a stop in Germany before moving on to the next metric.
Average bet amount per bettor – Germany
Same behaviour, as new players appear to bring down the overall average. Data from previous big tournaments show the average will remain relatively low throughout the tournament. It’s currently 20% lower than the baseline. Will that apply to this unique World Cup? Time will tell.
Bet amount distribution by bet type
Split right down the middle at the moment, which is to be expected as the tournament hasn’t started yet. We expect live bets to increase as the World Cup kicks off and more so as it enters its final stages.
Bet amount distribution by channel
We can already call this match up. Mobile dominated the 2018 World Cup and Euro 2021. We don’t have a reason to believe it won’t become even more prominent this time around. However, with a traditional 80-20 split in favour of mobile, there’s not much room left for massive growth.
Conversion – weekly number of first-time depositors change
Conversion refers to new players placing their first bet.
This chart confirms a rise in first-time depositors, or new players, with the weekly conversion rate standing at 37%.
Retention – weekly number of active customers change
Retention refers to players who were active last week and are active this week as well.
The overall retention rate this week was 75%, pretty much steady throughout the past five weeks. We fully expect retention rate to rise during the tournament. The graph below shows the weekly change in retention rate. Note the –50% compared to the June 2022 baseline.
Reactivation – weekly number of reactivated players change – global
Reactivation refers to a player who was non-active for at least a week and then placed a bet.
Our data shows a sharp increase in reactivation in the last week of October and that trend continues into November. Reactivated players are bettors who didn’t place a bet in the previous week and then turned active. A mega event like the World Cup is a major factor in that sharp incline. It’ll be interesting to see if operators are able to retain or reactivate a large chunk of first-time depositors.
