Online gambling is big business right now. Betting has always been popular but ever since the US Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, there has been huge growth in the sector, largely thanks to rapid change in the American market.
Most of the space in the online sports betting and casino world is taken up by some very familiar names. Many of the big casinos have now launched sportsbooks, where it is legal, and they dominate the market. It was very noticeable that the Super Bowl halftime ads were nearly all for betting brands a few years ago.
But just because there are some very big names making most of the noise and other sportsbooks like BetOnline building major customer bases, it doesn’t mean that there isn’t room for startups. But there is a need to find a place where you can fit in the industry. Here are some ideas about where to concentrate your efforts if you are looking to get involved with online sports betting and casinos.
If you are thinking about sports betting, you should realize that there is an entire ecosystem that supports all of the sportsbooks and their customers. Anyone who has ever taken any kind of interest in sports will know that conversation is built on seemingly limitless statistics.
Any serious sports betting enthusiast will actively seek out the information they need to make the most informed bets possible. So creating some kind of app or tool to supply sports statistics and other information might be a good idea. There are obviously already countless sites devoted to this subject but there is always room for innovation.
Getting involved in fantasy sports is an excellent way of muscling in on sports betting without worrying about the big players. Sure, companies like FanDuel and DraftKings have easily moved operations from solely recreational fantasy sports gaming to include betting. But there are plenty of smaller operations out there too.
Try to choose a definite strategy and subject and there is a chance that a low-level fantasy sports site could compete with even the big names in the sector. Fantasy sports has been able to grow beyond the traditional sports world, so the potential customer base is huge.
This is one area that all online betting companies have been concentrating on in recent years. But if you are just looking to build your startup, forming a community should be the most important aspect of your operation. In fact, you could look to concentrate solely on a community-led startup to work alongside sportsbooks.
Ever since companies realized the attraction and success of social media, they have been looking to use it and incorporate it into their everyday plans. Customers now expect a certain level of interaction and social media content with any business – and sports betting is no different.
We have been looking primarily at sports betting in this guide but we have mentioned casino gaming as well – and for good reason. Many online sportsbooks also have casino sections for their customers but there is nothing to stop new startups from moving in on the casino experience.
There is such a wide range of casino games to choose from that startups can concentrate on particular genres or types. There is also the opportunity to look at some of the other ideas we have profiled here and use them in a casino gaming way, so the options are endless.
All betting companies are looking for the latest tech for their customers to use and to make their operations even slicker and more efficient. So, if you have any expertise in this area, you might find that your services are really in demand, as further technological advances present themselves.
Even just a standard sportsbook can use the latest tech as a USP. This might mean that you concentrate on esports or the use of AI and machine learning to help offer a better service to your customers. Even if you are not thinking in those terms, it is vitally important that you keep up to date with technology in the industry.
Find a Niche
We briefly mentioned esports when talking about technology and it is those kinds of niches that can really pay off in the sports betting and casino gaming industry. Until around the time of the pandemic lockdowns, esports was almost an afterthought for most sportsbooks. But now they are a major part of the betting world.
Whatever your specificity is, you should be trying to find a corner of the market that you have the opportunity to dominate. As long as the niche is small enough – and your knowledge and expertise is extensive enough – you can do well in what is a very competitive industry.
That last point really cannot be stressed enough. Throughout this guide to sports betting and casino gaming startup ideas, we have said how it is possible to go up against even some of the biggest brands in the world and still succeed. But we never said it was going to be easy.
With unprecedented growth in the sector, the potential for success is definitely there. But you will need to be committed to staying the course and put everything into making your startup the best it can be. Maybe then you will have the chance to grow as big as some of the established players in the game.