In the competitive world of sports betting, sportsbooks are constantly searching for innovative promotions to attract and retain customers.
One such promotion that the team here at Altenar can provide is the Bore Draw feature, which offers bettors a refund on their wagers if a soccer match ends in a 0-0 draw.
Here’s an in-depth look at why sportsbooks should consider offering a Bore Draw promotion.
How Bore Draw Works
The Bore Draw feature in sportsbooks acts as a safety net for bettors. When you place a pre-match bet on eligible markets such as 1x2, correct score, and first goalscorer, if the match ends in a 0-0 draw, your stake is refunded in full. This feature ensures that bettors don’t lose their money on a scoreless game.
However, if a 0-0 draw results in a winning bet for the selected market, bettors still receive their winnings as per their bet. This gives bettors more confidence and security when placing their bets, knowing that a goalless match won’t result in a total loss.
Problems Bore Draw Solves
A 0-0 draw can be one of the most frustrating outcomes for sports bettors. With most 0-0 draws lacking excitement, such a result wipes out the chance of any winnings from a wide range of markets including popular selections such as first and anytime goalscorer.
A lack of goals ruins the spectacle of a big game for fans and bettors alike, but knowing they will receive a refund on their wager eases the disappointment and frustration.
Benefits Of Bore Draw
Offering the Bore Draw promotion is an attractive promotion for football, which is the most popular vertical in most markets around the world. Here are some of the main benefits:
Building Trust: Offering such a refund promotes trust and goodwill between the sportsbook and its customers. It shows that the sportsbook is willing to take some financial risk to ensure customer satisfaction and enjoyment, which can build long-term loyalty.
Attracting New Customers: In a market where numerous sportsbooks offer similar betting options, unique promotions like Bore Draw can set a sportsbook apart. As soccer is one of the most gambled-on sports in the world, this promotion has the potential to attract a sizable number of bettors and guide them to choose your sportsbook over one that does not.
Retention of Existing Customers: Promotions like Bore Draw can play a crucial role in customer retention. Although this is a great tool to attract new customers, it can have the same effect on retaining your regular bettors. Promotions such as this can reduce the likelihood of customers switching to a competitor, especially if the competitor does not offer the same promotion.
Encouraging Higher Stakes: Knowing that a 0-0 outcome will result in a refund can encourage bettors to place higher stakes. This increased confidence, stemming from an added degree of assurance if the score ends 0-0, can lead to higher betting volumes and, consequently, more revenue for your sportsbook.
Creating Buzz: Unique promotions like Bore Draw can be excellent marketing tools. They can create buzz and draw attention, especially during major tournaments or high-profile matches. This increased visibility can drive more traffic to the sportsbook.
Diversifying Bets: Bettors might be more willing to place bets on traditionally less exciting matches, knowing they have a safety net with the Bore Draw promotion. This can diversify the betting activity across different matches, increasing the number of games bet on and balancing the sportsbook’s risk.
Risk Management: While offering refunds may not seem like the smartest financial decision, the promotion is usually structured in a way that manages risk effectively. The increase in betting activity and higher stakes can offset the cost of refunds. Additionally, 0-0 draws are relatively rare, so the financial impact is often limited.
Customer Acquisition Cost (CAC): Many sportsbooks utilise tools such as an increase in a customer's deposit or doubling the odds for a customer's first bet. Although these promotions are fantastic tools, they significantly increase the CAC per new customer. Offering promotions like Bore Draw can lower the CAC by attracting more customers through organic means such as word-of-mouth and social media buzz without the need to offer a monetary incentive.
Customer-Centric Approach: Promotions like Bore Draw reflect a customer-centric approach, where the sportsbook prioritises the bettor’s experience. This can significantly enhance the brand’s image, portraying it as fair, generous, and customer-focused.
Conclusion
Offering a Bore Draw promotion can provide numerous benefits for sportsbooks. It enhances the customer experience, offers a competitive edge, promotes betting activity, aids marketing efforts, and can be managed financially.
Adopting such customer-friendly promotions, sportsbooks attract and retain customers whilst helping to build a positive brand image. Offering your bettors a Bore Draw promotion is a strategic move that can yield substantial rewards for any sportsbook.
Get in touch to learn more about our how our range of football-focused promotions can help your brand hit its goals.
