Paddys cross-sell revamp boosts gaming in Q3, says online boss
Head of online Peter O'Donovan also points to record revenues from Italian sportsbook and egaming business in October
Paddy Power’s head of online Peter O’Donovan told eGaming Review this morning the Irish operator’s revamped cross-sell model helped drive 20% egaming growth in the third quarter.
O’Donovan said improvements to marketing and product, particularly its continued investment in proprietary content and slots games, boosted cross-sell between its sportsbook and gaming platforms.
“Our ongoing investment in proprietary content and slots content from our game studio is helping to drive cross-sell given the superior nature of the products we are developing and designing,” he told eGR.
“Another area has been our sports side games, as we call them. We have integrated into our sportsbook mobile app a number of side games, which has been helping with the cross-sell rates,” he added.
Paddy Power saw total net online revenue grow 42% in the period 1 July to 16 November, with sportsbook up 49% year-on-year.
The Irish operator’s PaddyPower.it site also grew net revenue, up 72% during the period and driven by a record month for sportsbook turnover and egaming net revenue in October.
“Our market share from H2 to date is around 12%,” O’Donovan said. “We were happy with our World Cup performance, but the good level of performance has been sustained into recent months as well.
“October was a record month from a sportsbook turnover perspective, and also from an egaming net revenue perspective,” he added.
O’Donovan also revealed that Paddy Power was “levelling off” spend on customer bonuses and free bets, which increased 77% in Q2 to 15.5m, and instead was focusing on strong pricing and targeted marketing.
“The strategy is two pronged. From a retention perspective, we have a very strong price and offer propositions. We have the market leading accumulator bonus on offer at the moment, and we have seen good uptake from customers on that.
“We continue to invest in our marketing capabilities, through the targeting of promotions to the right customers. We are also driving loyalty, and using promotions to drive incremental spend as well,” he added.