Taking the subscription business model into consideration in the world of sports betting, could answer the questions around why having consistent and happy players outweighs big spenders.
Altenar, a sportsbook software provider, takes a look at how advertising and offering content for consistent players could further an operator's longevity within their chosen market landscapes.
The subscription business model was pioneered by book publishers and periodicals in the 17th century, however, the model has been adopted in a vast selection of businesses and sectors that have found that branding a product as a service can increase revenue, consumer retention rates and can turn the product into a staple of entertainment as a result.
One standout demonstration of the success of the subscription business model would be Netflix’s system of purchasing content copyright and offering it to the public at a reduced but consistent price. The phenomenon has now seen the same model mirrored in different streaming services, and other industries and overall suggests that it’s a model that works extremely well.
So, can this model be applied to the sports betting industry from operators to players?
The short answer … Yes!
The Benefits Of The Subscription Business Model Applied To Players
This model allows your players to feel closer to the content they love as they’re likely more able to bet small amounts than larger ones, which makes your players feel included. This premise is promoted in other aspects of sports betting like features, offers and odds. All of which are offered by sportsbook software provider, Altenar.
In offering the ability to bet a low amount of money, operators are likely to increase player satisfaction.
According to a Forbes article written by Localmotion author Alex Barseghian, ‘today, both startups and established businesses are using the subscription model to grow their customer base.’ The author explains, about institutions like Costco, that the subscription model is not only popular but beneficial for those who employ it.
Alongside entertaining business models, Altenar a sportsbook software provider takes the time to look at bettor psychology, the industry and more on its website.
Want to discover more about Altenar? Visit the website or contact the team today.