Why gaming operators are a great opportunity for tech firms right now

Successfully serving operators in the igaming market is about addressing business needs common to all operators and, for that matter, all consumer-facing companies the world over.

Once those business needs are identified, the key is ensuring that your products and services help them deliver on those needs. For me there are five key areas to consider:

The first is customer acquisition: consider whether your product or service helps your customers win new business more quickly than was possible before they started using your product or service. Secondly, does it help operators retain customers for longer than they were able to before they started working with you? Then there is customer value building: does your product help increase customer lifetime value, grow revenues and profit per customer?

Fourthly, can your product or service help operators grow revenue, deliver efficiencies and/or cut costs – offering a route to increase profitability? And finally, can your product or service help operators serve customers faster, more reliably, and/or more personally?

Being able to show that you are contributing to meeting one or more of these sector-wide business needs, and can prove it with case studies, ensures that your pitch will be warmly received.

Market knowledge drives sales and partnership opportunities

Whether you are addressing sportsbook or casino markets or both, it’s important to know the characteristics of the markets you serve. You should be aware of other B2B businesses already working with or targeting the same operators as you. There could be scope to partner with some of them where your offering complements theirs.

Building market knowledge and contacts makes it easier to talk to operators about specific topics that you know will interest them.

Global expansion?

This is a global market. Keep an eye on geographical trends and the changing regulatory landscape in those territories. Since 2019 there has been a gradual rolling back of state-level bans on online betting and the same is happening in Canada where multiple entrants are making great, early progress after the Ontario market opened in early April 2022.

Remain flexible

It’s tempting as you grow to become rigid about the types of customers and engagements you want but this could limit your success. Operators differ hugely, their markets and regulatory environments differ too and so do their customers. Being flexible makes your business a better partner for them and grows the relationship between you.

Be prepared to start small. Picking one key business need and delivering on that is usually better than insisting that your customer takes everything you offer right at the start.

Innovate to increase customer value

The business needs we discussed earlier apply to you too. Create new product options that meet a need you know they have because of the knowledge you’ve gained from working together. You’ll grow your revenue and deepen your engagement with them.

There’s real power in being a small tech supplier, you can move and change faster than your big competitors. Agility and willingness to innovate creates great businesses.

Stewart Vassie, CEO and co-founder of NowBetNow, has managed technology businesses in the igaming industry for more than 20 years. Highlights of his career include creating the leading odds comparison site Oddschecker and trading automation provider Botsphere before co-founding NowBetNow in 2018.