Interviews
Altenar: Boosting revenues with engagement tools
Turnkey and white-label sportsbook provider Altenar has doubled down on its efforts to improve player engagement and retention for customers this year. With the launch of an intriguing line-up of new tools, including their Bet Boost, Rewards System and Proprietary Bet Acceptance product, Alejandro Cazorla, Sales Manager at Altenar, provides insights into why operators should focus on increasing customers’ lifetime value as the price of acquisition continues to rise.
Why did Altenar decide to focus so heavily on their engagement tool offering this year?
In today’s highly competitive iGaming markets, sportsbook operators must constantly differentiate themselves to attract players. With a number of sportsbooks demonstrating how high costs associated with building their player base can eat into profits, one crucial strategy to combat this is integrating innovative engagement tools that have the power to cross-sell, retain and onboard new players. With the average acquisition costs increasing year over year, these tools are essential to not only enhance the overall player experience but also drive customer loyalty, increase revenue, and foster an engaged audience.
Engagement tools play a pivotal role in creating a more personalised experience for sportsbook users, with widgets such as Altenar’s Bet Boost enticing them to try new markets. By offering a variety of these features, operators can captivate players and even encourage online casino customers to give sports betting a try. Engagement tools have the power to transform a sportsbook into a dynamic platform.
Keeping players engaged during quieter periods and securing their custom during highly competitive sporting events is essential for profitability. How does the Bet Boost widget achieve this?
Tools that enable operators to highlight certain odds and boost winning potential can help drive higher revenues. Our Bet Boost widget enables operators to enhance odds to a selected level for promotional purposes during major events, or to combat losses during quieter periods, to increase bettor engagement. Boosts can be applied automatically or manually within events and provide flexibility and customisation options.
We developed Bet Boost to enhance competitiveness in the industry, particularly for popular events. By offering boosted odds that significantly increase prizes on specific selections, this tool creates excitement and provides players with the opportunity to win larger payouts. This, in turn, can lead to increased betting activity and higher revenues for our sportsbook partners. Additionally, the tool’s flexibility allows operators to target specific events or markets, tailoring promotions to suit the local audience.
Friction in the user experience can cause even the most loyal customer to become frustrated. How is Altenar combating this?
Most people are familiar with the feeling of having something in their online shopping basket, only for it to refresh and become unavailable. This is a bugbear many bettors have faced with their bet slips, only to get to their final bet and see the odds refresh, forcing them to start over again. With the new Proprietary Bet Acceptance tool, Altenar has created their own algorithm to allow operators to determine the odds and tackle this frustrating hurdle for customers. This limits friction in the wagering process and gives operators an automated technology with which to determine whether to honour the previous odds available or continue to refresh the bet slip if the risk is too high.
Anticipation is a feeling commonly associated with online casino players. How can operators recreate this emotion for the sports-betting vertical?
The feeling of anticipation and reaching rewards is a familiar and welcome experience for online casino players, with progress bars and promotional tools encouraging longer or more frequent gaming sessions. With the introduction of our new Rewards System, Altenar takes bonuses to the next level by offering players a chance to win a progressive prize from a pool.
Operators can decide when the jackpot is hit, for example if a certain footballer scores during a game, or if the prize pool reaches a predetermined amount. The winnings can go to a single bettor, or smaller prizes may be shared between multiple players. The promotional tool is configured by the operator and is a powerful cross-selling tool, offering familiarity to casino-only players.
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