Mims looks back on the SBC North America Summit at the Meadowlands – offers 4 key takeaways
The SBC North America Summit was held earlier this month at the Meadowlands Exposition Center. It included a Hall pf Fame Ceremony for some of the legendary bookmakers that shaped sportsbooks & operations in Las Vegas. The group included Johnny Avello and Joe Asher.
The festivities also included a mixer in Met Life Stadium. The attendees were allowed to go on the field and participate in field goal kicking and passing a football. While other conferences come close to their presentation of information, no one compares to how SBC entertains a group. Business always transcends into a party!
My SBC event was exceptional. I was able to see old acquaintances, make new professional contacts and participate in a panel discussion about sports betting.
There were 4 Key Takeaways that I want to share about SBC.
1) Increase the roles of women and diversify teams.
Jan Jones Blackhurst, Board Member of Caesars Entertainment Corporation. set the tone by letting the participants know that there is much work to be done with diversity and inclusion. AGA President Bill Miller cited that while the Gaming Industry is a major employer of women and minorities, the executive and C level positions do not reflect a minimal glimpse of diversity. Studies and Reports confirm that a team of diverse individuals are more successful than one that is limited to any one ethnic group or persuasion.
2) Responsible Gaming should be part of your gaming promotional strategy.
I noticed during a local drive-time newscast six commercials that were promoting sports betting. I would like to see & hear a mention of responsible gaming in a promo. The promo could emulate the way Beer and Alcohol companies ask their patrons to refrain from drinking and driving. The AGA has a program called Have a Game Plan that would fit perfectly.
3) Media is the mover of the needle for customer acquisition.
Most of the sports betting operators are engaged in a bidding war for players. The use of media to relate to customer is important to developing brand loyalty. Most players have multiple accounts. This gives them the ability to shop lines and compare odds. If you are partnering with a media company that provides content, you can increase the visibility of your brand. This can reduce your customer acquisition cost. Development of a social strategy that works on multiple platforms is critical.
4) iGaming and sports betting have a synergy that appeal to a younger demographic.
The sports betting component is the Trojan Horse of gaming. While the core casino games do not resonate with millennials, sports wagering does. If you can personalize your offerings to your customer, you can create crossover opportunities. The margins on sports betting are small in comparison to iGaming. The more innovative the product, the more appealing to the player.
My next conference will be at the beginning of 2022 in Las Vegas. I will be attending the Consumer Electronic Show. CES will run from Jan. 3 thru Jan 7. The first two days are media only and I will be part of that experience. I will have a preview of the CES here at Bettors Insiders.