How effective is the 'watch and bet' model?

The human brain is made for processing visual data and is constantly looking for new visual information to help it learn, grow and understand the world. When it comes to sporting events, nothing quite matches the excitement levels a spectator enjoys while watching the action unfold right before their eyes. This is also true for those who experience live pictures via TV and mobile, enjoying a greater experience than audio or data visualisation.

It is a well-known formula that the betting experience improves immeasurably if the bettor can watch live pictures. Thanks to technological advancements, it is now possible to stream live action from across the globe, and operators have jumped on this to offer their customers the ‘bet and watch’ model, where a minimum qualifying bet gains access to live action. It has proven an effective method to retain experienced bettors, while it has also opened up avenues for fans of lesser-known sports to view events that may have been unavailable to them.

When it comes to innovating and taking our products forward, we can learn a great deal from looking at other industries and understanding how visual content can improve the customer experience and increase sales. According to tech firm Cisco, 80% of all internet traffic will be video-led by 2019, demonstrating the significance of the platform in how we consume visual content.

Retailer Argos is one of several companies which have experienced the benefits of including video content in order to drive revenue. Sales for products that feature videos on its website have increased by 20%, highlighting how effective vivid images can be in converting a visitor into a customer.

The casino industry has also benefitted from the use of live pictures. Live casino now accounts for 29% of all European casino GGR. One of the key reasons this vertical has thrived is the fact it gives players the opportunity to watch live tables on desktop or mobile, interact with dealers in real time, and place bets in real time too.

A sporting chance

Live video has the potential to attract an even greater number of customers in the sports betting space as well. The ‘watch and bet’ model, already embraced by some operators, allows bettors to watch a live sport event for free, in the hope that, in turn, they will bet on the event. Companies which have adopted that model have seen a significant rise in betting activity, and in some cases have experienced over 50% revenue increases for the same events covered using the ‘bet and watch’ method.

The benefits that arise from giving bettors the opportunity to enjoy a visual experience can greatly improve engagement, especially with recreational bettors, with the added encouragement to bet on live sports fixtures. As video becomes an increasingly important acquisition and retention tool for operators, suppliers such as ourselves have made a concerted effort to provide bettors with the ultimate live video experience, delivering live pictures with ultra-low-latency.

The SIS Greyhound Channel has live races interspersed with virtual greyhound racing, with a betting event every three minutes throughout the day, keeping bettors engaged for longer and driving more betting revenue. The old saying states that “a picture can paint a thousand words”, and for live video, it is considerably more. Accessing free-to-view live pictures with data feeds has the potential to generate greater revenues for operators, as it’s a marketing tool that has the power to turn a visitor into an active customer.

Rachel Coulson is head of product propositions at SIS, a leading live pictures and data supplier. She has more than 20 years’ experience in various senior commercial and operational roles in the betting and gaming industry, and previously worked for Betfair.