In the first blog of this two-part series, Sports Bettors Want More Funding Options, we discussed why—according to Leger’s 2019 Sports Betting Report—89% of your customers have at least one serious concern with how their online accounts are funded today. Here’s a quick recap of what we learned:
- Bettors are concerned about security, especially when it comes to using and storing credit card information online.
- Many bettors would prefer to keep their online betting activities out of the spotlight – which means no clues on bank or credit card statements.
- The majority of online sports bettors would prefer to fund all their betting with cash.
If you read Blog #1, you’d know Blackhawk Network has a solution that lets bettors fund their accounts more easily, securely and comfortably—our new betting payment gift card, Game On.
The best part? As many reasons as there are for bettors to like Game On, there are even more reasons for sportsbook operators to participate in the new program.
Every business wants more customers; the sportsbook is no different.
Game On removes major barriers for new bettors to sign up and fund their first bets.
This is how Game On works: Bettors pick up a Game On card from the gift card rack at one of thousands of retailers worldwide, fund it at checkout with cash (or almost any other form of payment), then use it in your sportsbook—just like any other card.
That security, anonymity and simplicity could mean thousands of new customers almost as soon as you put your logo on a Game On card—customers that may have otherwise gone to another sportsbook, one that offers more funding options.
In addition, Game On cards make great gifts (they are gift cards, after all), and that means more opportunities to increase trial. Sportsbooks currently capture hardly any of the $670 billion gifting industry. The Leger research revealed 72% of the purchase intent of the Game On card would be as a gift. With 88% of Americans identifying themselves as sports fans, the gifting opportunity for sportsbooks is incredible.
Whether we’re talking about new customers or existing customers, the Leger research shows that sports bettors would bet more—and more often—with Game On cards.
57% said they were likely to spend 25% more on sports betting with a sports betting gift card. Of those that were interested in Game On cards, 90% said they would purchase monthly, and 46% said they would purchase weekly.
Instead of paying hundreds of dollars to a third-party affiliate to bring you each new customer, let Game On do it for you.
Yes, the fees might be slightly higher than your credit card acceptance fee, but the savings in customer acquisition will easily make up the difference.
By our calculations, if as few as four out of 1,000 Game On cards used at your sportsbook are redeemed by new customers, our fees will be more or less equal to your credit card acceptance fees.
Be Part of a Sportsbook Team
Each Game On card will feature several sportsbook logos. While not obvious at first, this multi-branded approach is extremely beneficial. Like a group of antique stores lined up on the highway, a group of multiple sportsbooks simply attracts more customers. The research bears this out:
- 84% prefer a sports betting gift card that can be used at multiple sites.
- Multi-branded cards are more giftable; the gift giver doesn’t have to worry about which sportsbook the recipient prefers.
For sportsbooks interested in building their brand, the Game On opportunity cannot be matched.
Simply by participating in this new Blackhawk Network program, your brand name and logo will instantly reach millions of consumers in more than 30,000 grocery stores, big box stores, home improvement centers and office supply stores worldwide, as well as online at GetGameOn.com and other Blackhawk Network online portals. And in the grocery channel, Blackhawk Network covers more than 90% of the market.
Here are a couple more stats from the research:
- 72% said they were likely to place more bets at sportsbooks if this card was available in a place they already shop.
- 84% of sports bettors shop in grocery stores at least once a week.
The research behind the Game On card is convincing. But in sports betting, sometimes you have to go with your gut. So if your gut is telling you that more bettors, more bets and growing your brand overnight are good things, talk to Blackhawk Network about Game On.