Understanding the sprawling waters of the online and offline betting industry can often seem like a daunting task, however, with Altenar a sportsbook solutions provider you can discover the pros and cons of both online and offline betting businesses and how to optimise one or the other, or both!
With Altenar’s plethora of features, technologies and device types you’ll be able to find success in retail heavy markets or online heavy betting landscapes, ensuring that you offer must-have sports content to your growing pool of bettors and players.
This article will outline the pros and cons of online and offline betting and detail how to ensure your sportsbook offering starts with its best foot forward.
Let’s begin!
The Pros of Online Betting | Altenar & You
Convenience & Accessibility
Online betting offers your players the opportunity for convenience and in a world of food-ordered-to-the-door and being chauffeured fr om point ‘A’ to point ‘B’ at the magic of a tap, your players are looking for convenience when it comes to accessing one of their favourite pastimes.
With Altenar’s sportsbook solutions and services, your players will be able to access your online content on-the-go with the Altenar’s mobile app (available on IOS and Android), all the while being able to access state-of-the-art technologies, sports content and must-have features.
Not only this but Altenar’s sportsbook solution is accessible through desktop, terminal and tablets.
Bonuses & Promotions
Altenar’s bonus tool will draw more players to your sportsbook offering and in turn your iGaming business. These bonuses, promotions and tools can be a significant ‘pro’ for online betting as it allows you to offer as much as possible to your players and bettors as tastes and trends change over time.
With Altenar’s bonus tool, you can benefit from increased player satisfaction and as a result, increased player retention rates.
Here is a list of what you can expect from the bonus tool:
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Cashback on user demand (accessed through the betslip)
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Bet on pre-live events and get a risk-free bet once the event is live.
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Ability to void bets (e.g:0-0)
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Early payout
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Accumulator insurance
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Custom campaigns for VIPs
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Extensive rollover settings
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Bonus on specific client groups
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24x7 coverage
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Enhance profitability
On top of this Altenar’s operators will benefit from 0% margin, bore draw, bet builder and cashout amongst a host of state-of-the-art technologies and betting services.
Live Betting & Streaming
Live sports betting and streaming brings with it an excitement like few other verticals to this day, and with a greater adoption of online betting, many players enjoy having access to live betting and streaming so that they can envelop themselves in the betting experience and recoup what may be lost from offline betting.
Altenar, a sportsbook software provider, understands the inherent entertainment value of live betting and streaming, and how the addition of live betting can bolster your current igaming operations. Below is a list of benefits from offering live betting and streaming.
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Your players have better access to data (review Altenar’s articles on the benefits of well-informed bettors increasing player retention rates).
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Increased entertainment value, which is drawing new and next-gen players to the betting landscape.
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Live betting can promote social experiences for bettors, increasing the ‘fun factor’, both in male and female players.
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Your players might not be able to watch the game but can participate in their favourite sports via your sportsbook.
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Live betting is more accessible as it doesn’t require as much bettor knowledge as other verticals.
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Advanced technologies with minimal latency, reduced and unnoticeable ‘down times’.
The Pros of Offline Betting | Offering Retail Can Boost Your iGaming Success
Immediate payouts & Cash Transactions
Offline betting can offer inordinate potential for many bettors across the globe, and one of perks for many players is immediate payout and the ability to play through cash transactions.
This is a viable way of betting for many especially in betting regions with low internet penetration. You can discover how Altenar can help your offline operations by contacting the award-winning team today.
Social interaction & Tangible Experience
Many bettors and players enjoy the social interaction of sporting events and find that betting is an extension of this social experience, with this in mind, offline betting offers this interaction in abundance and can often be the driving force to your players wanting offline options for betting.
Contact Altenar today and discover how you can offer online and retail to your customers and desired betting markets.
The Cons of Online Betting | Mitigating Risks
Security Risks
Though there are risks associated with online betting, security being at the forefront of these risks, Altenar has taken steps to ensure the safety of its clients, their data and their businesses not only mitigating risk but embedding security cultures and frameworks within its technologies and internal operations.
Altenar is a sportsbook software provider that makes use of Google Cloud Services/Platform (GCP) to implement and support global and local operators with the best security practices and technology possible.
Below is a brief overview of how GCP is beneficial to Altenar’s sports betting operators…
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Encryption: GCP offers encryption for data at rest and in transit.
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Identity and Access Management (IAM).
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Network Security: GCP offers a range of network security features, including firewall rules, virtual private cloud (VPC), and network segmentation.
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Vulnerability Scanning and Threat Detection.
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Compliance and Certifications: Offering a range of security standards and regulations, such as HIPAA, ISO, and SOC.
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Data Loss Prevention.
Discover more about Altenar, its sportsbook solutions, its technology and security measures by contacting the team today!
Addiction and Impulsive Behaviour
The concern and discussion of addiction and compulsive behaviour around betting and igaming have circled the industry since its inception, with this in mind sportsbook solutions providers like Altenar have taken steps to ensure the reduction in the type of behaviour and the reduction in overall ill-behaviour through betting.
This can come through the addition of responsible gaming tools implemented into your sportsbook like setting time and spend limits.
Altenar became a member of the IBIA (The International Betting Integrity Association) which ‘is the leading global voice on integrity for the licensed betting industry.’ Whose ‘Monitoring & Alert Platform is a highly effective anti-corruption tool designed to detect and report suspicious betting activity using detailed consumer data.’
As a sports betting software provider, Altenar understands the value of protecting players, operators and overall, upholding the integrity of the industry wh ere the essence of betting-as-a-game-of-chance remains intact and respected.
Being well-versed thought leaders within the betting space, fr om global partners to upholding international regulatory standards, Altenar values the three core processes and premises of the IBIA and believes they can add, to the collective, invaluable assistance in aiding the reduction of corruption throughout worldwide betting landscapes.
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Research & Education
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The advocation of informed policies
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Safeguarding betting integrity
You can discover more about keeping your players safe and your operations above board by contacting Altenar today!
Regulatory and Legal Challenges
Adhering to multiple sets of regulations will ensure that customers are protected, providing a greater level of safety and security for players. By complying with numerous sets of regulations and law, sports betting operators can reduce their risk of facing fines or penalties for non-compliance.
Knowing you can rely on a sportsbook software provider, like Altenar, that has ample experience in LatAm, Europe, the UK, and Canada can ensure that you have compliant systems in place that are monitored and tested while expanding the customer base and increasing the revenue potential. Also, companies that operate across different countries in compliance with their respective regulations tend to gain increased positivity around brand reputation.
Summary of benefits:
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Reduction in crime or exploitative behaviours
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More cost efficient
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Promotes anti-corruption culture
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Increased demand for services (a strong compliance culture and framework is highly desirable)
Technical Issues & Connectivity
Ensuring that your sportsbook operations have tier-one content is a must in this ever-expanding and demanding betting industry. With Altenar, a sportsbook solution provider, you and your players will have access to a host of live and reduced-latency data that will bolster your player retention rates and acclaim amongst new and seasoned players.
Having direct agreements with companies like Betradar, Bet Genius, Stats Perform, and IMG Arena, Altenar offers official content and data from globally recognised leagues and events like the NBA, NFL, MLB, UEFA Leagues and more like Horse Racing and Tennis.
As Altenar offers quick-to-market data, multiple official feeds, and exclusivity ensures that operators and their players receive the best of the best, from technology, content and data, with a lack of reliance on single feeds and the ability to produce true and almost real-time data, the sportsbook solutions provider has become a go-to solutions designer for global sports betting operators.
The Cons of Offline Betting | Moving Online
Though many operators are able to offer a wide range of products and services for offline betting it doesn’t rival online betting in terms of content, promotions, accessibility and much more.
With such limited access and options many players and bettors have migrated to online betting wh ere possible for them. Below is an overview of the cons often associated with offline betting now that online betting has taken the industry by storm.
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Inconvenience
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Reduced Privacy
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Limited Access & Options
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Slower payouts and transactions
Want to learn more about entering the sports betting industry and beginning your business? Contact Altenar today to start with your best foot forward!
