In today's fiercely competitive iGaming sector, there may be better strategies than relying solely on traditional sports betting, especially for platforms seeking to establish themselves or grow their market share.
While sports like football and tennis continue to attract the most attention, they are also dynamic markets dominated by established players. New platforms must often get creative and innovate to differentiate themselves and stand out from the crowd.
This article delves into the potential of integrating fun and unusual betting markets as a strategy to help sports betting operators boost performance and revenues in 2024.
Importance of Innovation in Betting Markets
ntroducing unusual betting niches, such as drone racing or pumpkin regattas, as promotional tools has the potential to be a game-changer. These unique markets appeal to a broader, more diverse audience eager to place bets on something out of the ordinary. By integrating these niche markets, operators can appeal to new audiences of bettors who desire variety and excitement.
Moreover, unconventional bets serve as excellent cross-selling tools. By bundling niche bets with traditional sports or offering special bonuses and promotions, platforms can encourage users to explore a wider range of options. Such strategies not only improve customer acquisition but also boost the retention of active users by continuously providing players with fresh and intriguing content.
Top 12 Unconventional Betting Markets in 2024
Offering a range of unconventional betting options can help sports betting operators attract new players and keep them coming back for more.
Here are 12 fun and exciting betting markets that can raise interest in a platform and broaden its appeal.
1. Reality TV Competitions
Projected growth potential - High
Demographic appeal - Young 18-34 age group
Betting on reality TV competitions such as Survivor, The Bachelor, and Big Brother captures the imagination of viewers who thrive on drama, strategy, and unpredictability. Fans wager on eliminations, winners, and specific in-show events, drawn by the emotional engagement and community buzz they create. This market appeals predominantly to the 18-34 age group, who are deeply engaged in pop culture and digital interaction.
Such bettors are also likely to be intrigued by eSports and other novelty bets, such as the Oscars or celebrity gossip. Operators can cross-sell by bundling reality TV bets with eSports wagers or running media promotions. Influencer partnerships and exclusive offers can further entice this demographic, blending unconventional and traditional bets to drive engagement and revenue.
2. Political Events
Projected growth potential - High
Demographic appeal - Educated individuals aged 25-45
Betting on political events, such as elections or policy outcomes, taps into the intrigue and high stakes of global and national politics. Punters wager on everything from election winners to legislative decisions, driven by a mix of strategic analysis and the sheer unpredictability of political drama. This market primarily attracts well-informed, analytical individuals, often aged 25-45, who follow current affairs closely and enjoy the blend of speculation and intellect.
They are also likely to be drawn to mainstream betting opportunities like financial markets and sports betting, where outcomes hinge on deep analysis and strategy. To maximise engagement, operators could cross-promote political bets with sports wagers or market movements, using tailored promotions and strategic partnerships to appeal to this intellectual demographic.
3. Weather Predictions
Projected growth potential - High
Demographic appeal - Analytical individuals, all age groups
Betting on weather predictions taps into the unpredictability and changeability of daily life, offering punters the buzz of forecasting temperature ranges, rainfall amounts, or even the likelihood of snow. This market captivates a diverse demographic, especially individuals who appreciate data analysis, like tracking trends, and enjoy forecasting. These bettors are often drawn to the analytical challenges of sports like horse racing, where understanding form and conditions is crucial, or golf, where weather impacts play.
Operators can cross-sell by offering bundled promotions, such as free weather prediction bets with stakes on weather-influenced sports events. In addition, running themed campaigns tied to significant weather events or integrating meteorological insights into sports betting content can further engage this analytical audience, combining the precision of data-driven bets with the excitement of traditional sports wagering.
4. Competitive Eating
Projected growth potential - Medium
Demographic appeal - Diverse audience, typically 18-45 age group
Competitive eating betting is a quirky market in which bettors wager on who can devour the most hot dogs, pies, or even jalapeños in the fastest time. This unusual betting niche attracts a broad demographic, often leaning towards younger audiences and those who enjoy offbeat, high-energy events. Such bettors typically relish excitement and novelty, and frequently participate in markets with similar levels of unpredictability and entertainment.
Mainstream sports that appeal to this demographic include fast-paced events like basketball and boxing, where the action is intense and outcomes are frequently uncertain.
To engage with this group of bettors, operators can bundle competitive eating bets with promotions on high-adrenaline sports or offer themed bonuses around major eating contests. Furthermore, integrating live streaming and interactive platform features can create a more engrossing experience to encourage cross-selling opportunities between niche and conventional sports.
5. Niche Music Competitions
Projected growth potential - Medium
Demographic Appeal - Cultural and artistic, all age groups
Betting on niche music competitions, such as underground rap battles or folk music contests, offers a blend of cultural richness and competitive excitement. Again, this market typically attracts a diverse demographic, ranging from younger music lovers to older, more seasoned adults who appreciate the artistry and unpredictability of these events. It's worth noting that these bettors often have an affinity for other markets that are rich in cultural and strategic depth. They might be drawn, for example, to betting on sports like soccer or tennis, where skill and performance are key.
Operators can craft promotional campaigns to engage this audience that pair music competition bets with major sporting events. For example, they can integrate themed promotions around significant music contests and offer bonuses tied to live performances or streaming events to drive interaction. Engaging with this audience through social media channels and leveraging partnerships with music influencers can further enhance player acquisition and retention.
6. Novelty Bets
Projected growth potential - High
Demographic appeal - Diverse audience, typically 18-35 age group
Novelty bets encompass a wide range of quirky and unexpected wagers, from guessing the outcome of celebrity marriages to predicting the colour of the queen's hat at royal events. This market appeals to a broad demographic, focusing on those who enjoy a playful and speculative approach to betting. Typically, it attracts younger, entertainment-focused individuals who enjoy the chance to bet on the unusual and unpredictable. This type of bettor is also likely drawn to mainstream markets that offer the same excitement and unpredictability, such as live sports betting on football or basketball, where quick decisions and changing odds keep them absorbed.
Operators can capitalise on this interest by cross-promoting novelty bets with fast-action sports events. For example, offering themed promotions during significant tournaments or entertainment events can entice these bettors to explore both types of markets. Moreover, integrating engaging content and live updates about novelty bet subjects on betting platforms can heighten their experience.
7. Niche Sports Tournaments
Projected growth potential - Medium
Demographic appeal - Adventurous 18-45 age group
Niche sports tournaments, such as pickleball championships, ultimate frisbee leagues or curling, for instance, appeal to a specific yet passionate audience. These markets attract bettors who revel in the uniqueness and specialised knowledge of these less mainstream sports. Typically, they include younger yet adventurous individuals who enjoy discovering new experiences and engaging with less conventional activities. This demographic often gravitates towards other mainstream betting markets that require a keen interest in strategy and depth, such as rugby or cricket, where understanding the intricacies can offer a competitive advantage.
To maximise engagement and revenues, operators could offer cross-promotional strategies like bundling bets on niche sports tournaments with popular mainstream events. Highlighting unique aspects of niche sports during major sports broadcasts can further pique interest. Themed promotions or bonuses for niche sports during peak seasons can also entice these bettors to explore a broader range of betting options.
8. Drone Racing
Projected growth potential - High
Demographic appeal - Tech-savvy audience aged 18-35
Drone racing is a high-speed sport where pilots navigate small and agile drones through complex courses. This futuristic betting market commonly appeals to a tech-savvy and younger demographic, often aged 18-35, who are drawn to innovation and adrenaline-fuelled action. These enthusiasts are typically involved in or curious about the latest tech trends and enjoy the competitive edge. They also tend to favour conventional betting markets like Formula 1 or eSports, where speed, precision, and strategy play a significant role.
To increase engagement and revenues, operators can cross-promote drone racing with these mainstream sports by offering combined betting options or special bonuses. Creating engaging content, such as live streams of drone races or interactive betting features, can further capture the attention of this class of audience. Highlighting the parallels between drone racing and traditional high-speed sports during major events further helps to attract new bettors to this innovative market.
9. Stock Market Performance
Projected growth potential - High
Demographic appeal - Analytical and tech-savvy, aged 25-50
Betting on stock market performance introduces a unique combination of finance and gaming, where bettors predict market movements, such as the rise or fall of indices or individual stock prices. This unconventional market attracts a demographic primarily composed of financially-savvy individuals, often aged 25-50, who are keen on economics, investment trends, and market analysis. These bettors are analytical, they enjoy strategic decision-making, and usually have a high tolerance of risk. They are likely to also engage in conventional betting markets that demand similar analytical skills and strategic depth, such as football betting, where form and statistics are pivotal, or poker, which involves keen observation and tactical gameplay.
Operators can capitalise on this crossover by offering promotions that combine stock market bets with major sports events or poker tournaments. Highlighting the strategic similarities and providing educational content on both financial markets and sports betting can appeal to this audience’s intellectual curiosity. Moreover, integrating financial news updates and market analysis tools within the betting platform may also enhance their overall engagement.
10. Non-Traditional Animal Racing
Projected growth potential - Medium
Demographic appeal - Young adults aged 25-45
Non-traditional animal racing, such as camel, ostrich, or even pig races, offers an unusual twist on conventional betting. This market attracts a demographic that enjoys novelty and light-hearted entertainment, often including younger adults and families seeking fun entertainment. These bettors are drawn to the quirky and unexpected, appreciating the unique charm and unpredictability of such races and events. This audience also finds appeal in mainstream betting markets that provide a mix of excitement and strategy, such as horse racing or motorsports, where the outcome is influenced by both skill and chance.
To enhance engagement and drive revenues, operators can bundle non-traditional animal racing bets with popular sports events. Creating themed promotions or special events around major racing days also has the potential to encourage these bettors to explore a variety of other betting options. The use of social media and visual content to highlight the entertaining aspects of these races can capture interest and boost cross-selling opportunities. Furthermore, integrating interactive features, such as live streams or virtual race simulations, can capture the attention of this audience.
11. Cheese Rolling
Projected growth potential - Medium
Demographic appeal - Eccentric young adults aged 18-35
Cheese rolling is an eccentric event in which participants chase a wheel of cheese down a steep hill. This quirky tradition, particularly famous at Cooper's Hill in England, attracts a demographic that enjoys offbeat, fast and exciting events. Typically, this includes younger adults and those seeking novelty and excitement in their betting experiences. These individuals are often drawn to mainstream betting markets that offer high energy and unpredictability, such as rugby or basketball, where rapid action mirrors the chaotic nature of cheese rolling.
Operators can capitalise on this unique interest by cross-promoting cheese-rolling bets with fast-paced sports events. Offering combined betting options or themed promotions during popular sports seasons can entice these bettors to explore more traditional markets. Drawing upon the fun and visually intriguing aspects of cheese rolling through social media campaigns or live event streaming can further boost engagement. By highlighting the parallels between the excitement of cheese rolling and the intensity of mainstream sports, operators can create compelling cross-sell opportunities that enhance both engagement and revenue.
12. Pumpkin Regattas
Projected growth potential - Medium
Demographic appeal – Diverse 18-35 age group
Pumpkin regattas involve competitors racing in giant, hollowed-out pumpkins on water. Such betting markets appeal to a whimsical and colourful demographic that enjoys playful, community-based activities and quirky traditions. Typically, younger adults and those seeking light-hearted entertainment are drawn to this type of market. These bettors often have a fondness for mainstream markets that combine entertainment and community spirit, such as football or cricket, where local teams and events foster a sense of camaraderie and excitement.
Operators can harness the charm of pumpkin regattas by cross-promoting bets with major sporting events. For instance, offering special promotions tied to both pumpkin regatta races and popular football matches can encourage fans to engage across both markets. Moreover, highlighting the festive and community-driven nature of these events through social media campaigns or themed betting bonuses has the potential to attract a broader audience.
Market Trends and Consumer Preferences
In 2024, the sports betting industry is witnessing a shift towards unconventional betting markets. An increasing appetite for novel betting experiences drives this trend. Data from various industry reports highlight that niche markets, such as eSports and reality TV betting, for instance, have seen year-over-year growth of over 40% in recent times, far outpacing traditional sports.
Sources: Racing Post, Sports Betting Dime, Deloitte Insights, H2 Gambling Capital, iGaming Business, Gambling Insider, Statista.
Younger audiences, particularly those aged 18-35, are leading this trend. This group, in particular, are attracted to diverse and interactive betting options, typically tied to their interests in pop culture and technology. Furthermore, this demographic is less anchored to traditional sports and more inclined towards quirky and fast-paced events like drone racing or competitive eating.
Marketing campaigns that emphasise the uniqueness and excitement of these markets, especially through influencer partnerships, can resonate strongly with this audience. Moreover, operators can increase their overall appeal by offering exclusive bonuses or creating themed events around unconventional bets, thus driving greater engagement and customer retention.
Strategies for Implementing Unusual Betting Markets
To successfully introduce, implement and promote unusual betting markets, operators should deploy a mix of creativity and strategic alignment backed by reliable technology that will bring campaigns to life. Begin by researching niche markets that resonate with your brand and audience. Consider leveraging media trends, user engagement insights, and regional interests to identify betting opportunities that stand out. For example, if your platform appeals to a tech-savvy demographic, drone racing could be an ideal fit.
Localising bets to regional tastes is equally important. Offering bets on local traditions, like camel racing in the Middle East or cheese rolling in the UK, for instance, makes your platform more relatable and interesting for its users.
Access to advanced tools provides iGaming operators with the means to integrate, deploy, and promote niche betting markets rapidly. As an industry leader in iGaming software, Altenar empowers operators with cutting-edge tools to maximise these opportunities and the use of premium data feeds ensures the fastest and most accurate data from top-tier sources, which is a must when operating in unconventional betting markets.
This feature is all the more powerful when combined with the Bet Boost tool, which allows sports betting operators to enhance odds on specific events and tailor-made offers. Meanwhile, Altenar’s sportsbook bonus system lets operators design targeted promotions, from welcome bonuses to VIP rewards.
Marketing and Promoting Unusual Betting Markets
Promotional strategies should be imaginative. Use media campaigns and influencer partnerships to highlight the excitement of these unique markets. This approach provides opportunities to combine niche bets with popular sports events, offering special bonuses or cross-promotions.
Creating themed promotions around major events or holidays can also draw attention and engagement. By focusing on these innovative strategies, you can attract a diverse audience and differentiate your platform in a crowded marketplace. Here are a few tips for iGaming operators to consider when promoting unusual betting markets:
1. Emphasise the novelty and excitement
Highlight the quirky and unpredictable nature of these markets to draw in bettors looking for a break from traditional sports. Use vibrant visuals and dynamic content to capture the appeal of the events, making them appear as intriguing as they are entertaining.
2. Use a storytelling approach
Build narratives around the events and participants. Share the history and quirky details of events like Cooper's Hill cheese rolling, for instance, turning them into compelling stories that engage bettors emotionally. Create profiles of top competitors or interesting facts about the events to add depth and context.
3. Utilise social proof
Share testimonials and stories from bettors who have enjoyed these markets. Highlight their experiences and wins to build credibility and inspire new users to try their luck. Use data and statistics to show the rising popularity of such niche markets.
4. Maximise media use
Generate a media buzz with interactive content. Use polls, quizzes, and live videos to engage users and spark conversations about these unique betting opportunities. Sharing behind-the-scenes footage, event highlights, and user-generated content to create a vibrant community around these markets.
5. Collaborate with influencers
Partner with influencers who resonate with your target audience and can authentically promote these unusual bets. Choose personalities who are genuinely interested in the events or have a quirky persona that aligns with the niche market. Encourage influencers to share their personal betting experiences and provide exclusive promo codes or bonuses to their followers.
Integrating Unusual Bets into Existing Platforms
Successfully integrating unusual bets into your platform requires a thoughtful approach and a degree of technical expertise, which Altenar excels at providing. Our advanced sportsbook software platform allows operators to incorporate unconventional markets without disrupting user experience.
By utilising cutting-edge tools like our Bet Boosts and Custom Content Management, operators can introduce novel options with existing offerings. Moreover, Altenar’s expertise in managing real-time data feeds and dynamic content helps operators stay agile, appealing to a broader audience and enhancing player engagement opportunities.
Speak with our experienced professionals today to learn more about the potential of integrating unusual bets into new and existing platforms in 2024.
