Asian Sportsbooks Identify Top Traders as Key to Success
Building a successful sports betting enterprise takes incredible business acumen, along with expertise in product design, marketing, and a knack for trading odds lines. As consumers across Asia and the middle east get more experienced in the hunt for better sports betting odds, they also have a wider range of options where to investigate. Therefore, for a betting enterprise to enjoy early success in its expansion aims, there needs to be a close attention paid to hiring the right trading specialists. These individuals maintain the odds levels for the sportsbook, and directly impact the sustainability of the platform’s growth.
The increased competition of the betting business has led to a much tighter pressure of commission margins for sportsbooks in Asia. They turn to the expertise of top odds traders to make their business more sustainable. ©papazacharisa/Pixabay
In any digital customer facing business, there is a tendency to pump more and more resources into marketing to fuel further growth. But as any successful entrepreneur can attest to, it is innovation and strong product that will ultimately increase the chances of success. In the age where sports betting brands are abundantly available and new platforms pop up on a weekly basis, it’s no surprise that the significance of a strong brand in the gambling industry is beginning to wane.
It mostly comes down to betting odds, pricing remains at the very forefront of the decision-making process for any avid gambler. In the European gambling markets this is especially true. There is a feeling that all brands can be trusted and mostly provide a similar range of surface – the only tangible difference between them boils down to the commission levels they choose to take on lines, and where they’re willing to allow concessions in order to operate more tightly to the margin.
As the markets become more mature, the feeling is that this sense will just begin to increase. More customers will understand which sportsbook takes the least commission, and they will adjust their betting behaviors accordingly. An experienced trading desk at a top sportsbook will operate strategically and considers several criteria when deciding on setting their odds levels.
Primary Focus for Trading Desks in Asia Sport Betting Business
The first area to pay attention to is the special offerings and concessions that can be made in the key markets. If there are higher tax rates in certain European countries, then this must be accounted for. Taxation and certain market regulations will need to be priced into an operating model for matches specific to that region – without the adequate adjustments being made, then these markets would quickly be seen as non-starters, where nothing can truly get done.
It’s a 24-hour business, and the best trading desks in Asia will begin to understand that in order to drive further growth across their key markets, they need to mix man and machine in the most efficient way possible. Creating as much value as possible means staying on top of the news and using automated pricing & risk models to determine where the best place to set the odds is. The business of sport is known to regularly throw up unexpected surprises – all of which needs to be priced into the betting odds.
In terms of acquiring new users, it’s now known directly that nothing has a bigger impact than the pricing levels of a sportsbook. With this knowledge traders must understand that their responsibilities extend far beyond maintaining stability of the product. The best traders spot opportunities to offer exceptional value, undercutting the competition, and driving new users through the transfer of value.
Constant communication with the customers is the final aspect that needs to be considered. In Asia there is an inherent need for trust, and long-term perspective when it comes to building a strong business relationship. Whether it be for the purpose of building a partnership, or for dealing with issues that customers are facing – 24/7 communication is a key driver of success.
