Greyhounds investment helping to drive betting appeal internationally
Paul Witten, Product Director at SIS, explains how increased investment in greyhound racing has secured and enhanced its position as an important part of the sportsbook offer.
As is true for the betting and gaming industry in general in recent years, the changing demands of bettors has meant that a continuous evolution in the betting product offer has been imperative. Lifestyle changes and rapid developments in technology have meant that bettors now consume an ever-increasing array of content across multiple channels. These changes in consumer behaviour have presented various challenges to the greyhound industry in particular. The typical demographic who may visit tracks may not be those who bet online, and vice versa, but they are both key audiences for a sustainable greyhound industry. Therefore, improvements in the product offer have been key in order to meet the needs of new and existing customers alike.
It has been clear for a number of years that an evolution of the greyhound racing offer was needed to ensure that betting on greyhounds remained a key part of an operator’s offering, as it has been for decades. Recent investment in the greyhound racing offer has provided an enhanced product, not only for spectators at the tracks, but also for operators and their customers. Recent improvements in the greyhound offer include the rejuvenation of track facilities, with track surfaces renewed, ensuring that dogs can run to their full potential, as well as promoting fairness across the traps. In a sport where speed is key, and competitiveness is paramount to gate receipts and betting turnover, this has been crucial. Other improvements include the development of more on-site kennels to support the increased supply of greyhounds.
These investments in the infrastructure and competitiveness of racing are key within an increasingly globalised betting landscape, that sees greyhounds compete against other major sports for popularity and revenues. Key to building an improved betting product is consistently delivering competitive races. To attract customers from other verticals such as casino, new markets can be offered such as odds vs evens which provide a familiar 50/50 spin and win opportunity that the casino audience is used to. A further innovation in the greyhound racing product offer is the introduction of multi-angle camera placements at tracks – an industry first. We’ve looked at the likes of motorsport, and seen how they translate the speed and tension of a high-octane sport to the viewer, and we’re replicating it across the stadia.
The culmination of these various improvements has been a rejuvenated product which offers operators numerous benefits, including the enhanced potential for cross-selling, increased engagement and greater revenues. The past year has seen SIS agree key deals with international operators to incorporate the fully-serviced greyhound product into their online and retail estates. So far the response has been very positive from operators when we have shared our strategy to deliver short form betting as a fundamental part of the betting mix. New types of bettors have been attracted to the straightforward, fast-paced nature of the sport. Greyhounds has an intrinsic value, unlike many other major sports, in that it can offer an engaging experience over a nominal amount of time, while also appealing to those who want to study form cards or those looking for a quick spin-and-win bet. This accessibility can prolong dwell time and therefore drive incremental operator revenues.
Greyhounds has, and will continue to be, an important product for retail and online bookmakers. The industry has demonstrated its ability to adapt to changing betting demands, and we are now building on recent deals with operators globally to expand greyhound racing beyond the traditional greyhound heartlands of the UK, US and Australia, as the betting product gains traction and popularity internationally.
For more information on the new SIS Greyhound Channel click here