Let’s face facts from the get-go. Betting is a utility. There is not much separating all the betting platforms. Many new bookmakers have tried to copy the Tier one’s and failed.
Don’t Follow Tier Ones
The main reason why is that the tier ones played the smart game. They invested in building a brand identity and then put their money where their mouth was with large media buys.
For example, almost every punter has a Bet365 or Paddy Power account. Why? Because they positioned their brand and stuck with it.
In many sectors, some would argue that it is best practice to emulate the top companies in the space. I am saying that in the betting sector nothing could be further from the truth.
For new or tier 2/3 bookies simply forget about Bet365, Paddys, Hills, Laddys etc.
Why Your Customers Sign-up
You need to understand that the customer who signs up to your site most likely has 4-5 active betting accounts with other operators. Therefore, your lifetime value will be less because your share of wallet is split. Also, your customers will only sign-up to you because they have either run through bonuses on other sites, you have better prices or they were booted off other operators among other similar reasons.
Here is an overview of why customers really sign-up to new betting sites.