For too long the sports gaming market has been hamstrung by regulatory conditions, allowing old school legacy operators to sit back and watch the money roll in with no pressure to improve the customer experience. But with the overturning of PASPA, the industry is ripe for disruption and a tidal wave of innovation is set to change the way we engage with sports betting forever. At Betcha, we have taken a look at the key consumer trends in adjacent industries to see where innovation in sport gaming is headed.
Existing Product Offerings are Out of Touch With the Modern Consumer
A cursory view of the market quickly reveals that existing sports prediction products are indistinguishable, confusing and completely out of touch with their user base. The betting experience feels isolated, transactional and needlessly complex — kind of like trading stocks before the emergence of UX focused apps like Robinhood or at-home exercise before Peloton made it social and competitive. Every fantasy and betting operator says they are about “fan experience”, yet the evidence indicates they are only about the money. Sport is supposed to be about community. Sport is supposed to be competitive. Sport is supposed to be fun. Why should the betting experience be any different?
Let’s examine why people engage in sports betting and fantasy.
On the surface, the answer might seem simple: money. But that answer is lazy and doesn’t tell the full story. The overwhelming majority of people are not profitable bettors or daily/season long fantasy players and they know that, yet they still choose to participate anyway. So there has to be something deeper.
Consider a season long fantasy sports league — people of all ages and economic backgrounds spend hours obsessively managing their fantasy teams for almost no (or little) financial reward. Fantasy players are motivated by something more powerful — the camaraderie, competition, trash-talking friends and bragging rights that together make watching the game more exciting. There really is nothing more satisfying than proving to your buddy that you know more than him/her.
And you see this behavior everywhere — on Twitter, in group chats between friends, on ESPN/FOX — not just in fantasy football. Fans and analysts alike are constantly trying to predict what’s going to happen and argue about whose right. And no matter how many predictions they get wrong, they’ll be the first to shout it from the mountain tops or screenshot it and post it on social media when they get one right.
Imagine if we could bring that level of engagement and competitive spirit to the world of DFS & sports betting?
Betcha — Our Vision for the Future & Alignment With the “New Normal”
Think of Betcha as the secret lovechild between Twitter, eSports, fantasy sports and betting (the world’s first 4-way baby — yes — it’s a thing). We’ve handpicked the best aspects of betting, competitive community gaming and social media to create a simple, integrated sports prediction experience for real money that everyone from the casual fan to the hardcore bettor can enjoy. Our pillars:
The team at Betcha has been inspired by apps like Robinhood and Acorns that transformed the complicated and cumbersome world of stock trading into something approachable to the mainstream user. By providing a user-centric experience and simplifying betting mechanics we think there is lots of room for a more seamless, simple and transparent DFS/betting experience.
We love the immediacy, interaction, and scolding hot takes of Twitter. We love the feeling you get when your friends are all rooting for the same bet, or sweating it out on opposite sides. We want to transport these attributes to our sport-only social feed on Betcha. Users will be able to follow each other, publish, like and share bets, earn payout boosts by betting together or growing their follower base and publishing winning entries, trash talk and more.
Competition and the feeling of working towards a larger goal can make even the most mundane and arduous tasks more exciting. Just look at Peloton — they took riding a bike alone in your house and built an entire experience around it through leaderboards, badges, weekly and monthly objectives, and incorporating that with a sense of community.
At Betcha, fans will earn points for every correct pick, badges and complete missions & challenges. They will identify with a fan base (i.e. Lakers, Patriots, etc.) and compete against their fellow fans to unlock discounts on tickets, merch, skins, avatars and the right to claim they’re “Owner”, “President” or “GM” of their team. Rival fan bases (i.e. Red Sox vs. Yankees) will compete to prove once and for all which group knows the most about their sport.
These communities of friends, fan bases, and cities already exist. Sports fans are competitive by nature. Everyone is trying to show off their knowledge of the game. And Betcha is tapping into all of those elements to bring new levels of excitement and engagement to the world of sports predictions, while still allowing you to win real money.
It’s been a turbulent few months in the sports world due to the pandemic, and a new normal has descended upon us. It may be a little while before fans flood into stadiums and pack like sardines into bars. But the demand for sports has never been greater, and our desire to connect with friends & like-minded individuals through digital products has never been stronger. And it’s time a real money platform met those needs.
It’s time predicting the game became a game of its own.
If you enjoyed this article and are interested in the industry at large, I’m always down to connect and chat. Feel free to get in touch on LinkedIn or at email@example.com
And if you really want to prove that decision making is one of your strengths, download the Betcha app today and be a part of the new wave.