In almost any field that entails salespersonship, we see the idea of cross-selling as a strategy that can bring collective value. If a product or service has any fit with another one that a company is leveraging, pairing them in some way can be very profitable.
It’s almost the same as recommending and selling certain clothes that go with a shoe that you want to buy. You may not need it, nor is it necessarily the market you’re in as a customer. However, if it works, and if you’re already interested in fashion, why wouldn’t you consider going for it?
This sentiment appears in online gambling as well. Since the industry is already a sector of the wider entertainment environment, it’s only right that something was going to brew in this direction. After all, even an animated movie has a secondary (perhaps primary) reason to sell toys and other licensed merchandise.
In this iGaming set, the idea revolves around promoting all the major styles of gambling as viable alternatives to those who may prefer a specific type of entertainment. A sports bettor is all about odds, parlays, and so on, while a casino gamer wants to spin or play their cards.
What exactly can unite these two categories? In this article, we bring you the idea that slot tournaments can. They’re an evolution of an otherwise simplistic activity (playing slots), but the additives to this model can bring a more cohesive way of fusing these verticals.
Explaining slot tournaments
Now that we’ve lodged this slot tournament concept, it’s only right that we go ahead and explain it.
By definition, it is an alternative way to enjoy video slots. This model takes slot gaming and gives it a purpose, using competitiveness and the possibility of winning a prize as two of its most important levers.
If you participate, you benefit from both the act of playing such a game and also from the opportunity to climb a ladder. To keep it simple and consistent, these slot tourneys use the round robin format, meaning that they operate as a league in which the purpose is to gain points.
You’ll see various formats and organizational methods to bring these tournaments to life. Some are standard tourneys that require real money bets, while others invite you to enter social tournaments daily, giving you the chance to play for free.
As is natural, there is a prize waiting at the end of each tournament. Not for everybody, but for those who place high enough to share the spoils of having enough luck. The mechanism of rising through the ranks can differ, but we will address it as we go along.
Sportbooks and casino games are different verticals; how so?
Since the premise of this article is to discuss why consumers of sportsbooks and casino gaming can find a common ground in slot tournaments, we need to establish what’s different about them.
As you’ll see in this section, some of them are about the product that they entail, while others are more about a bit of the demographic data that we’ve sourced.
- Sports betting requires you to have both the interest and knowledge about the sports you’re wagering on. We could’ve said passion, but that’s a bridge a bit too far, even if many gamblers do have a penchant for loving the sport. This is an important detail because you need to distribute your attention and energy toward them.
- Casino games are a bit for those who are okay with repetitiveness and a pretty similar experience loop. Slots are quite standardized, so your time gaming is quite linear. Other game types may require a bit more involvement and strategy, but they’re still quite patience-driven.
- Both types can be passive and active at the same time. Betting on sports allows you to place a wager and see if it hits during the game, but the rise of in-play betting has made it so that you can place a stake at any given time. Casino slot gaming can be quite passive, especially if you activate autoplay. However, other titles, especially something like poker or blackjack, involve active engagement.
- Several industry sources place sports bettors at around 32 years old on average, while players of casino games have a median age of circa 43 years old. This proves that there’s quite a bit of generational difference, which can be a point of divergence.
Slot tournaments provide a purpose and added value
This is where we finally return to slot tournaments as a theoretical way to converge players across these major online gambling verticals. This is a tough ask for any operator willing to bring them together.
In general, cross-selling in this industry is a bit of an issue. The most high-profile example is the modifications that the UKGC brought to its bonus legislation. Namely, it introduced socially responsible incentives that outlawed cross-compatibility. If you’re a gambling Brit, a casino can give you a bonus for the casino or sportsbook only, not a reward that works on both.
For such a reason, gambling platforms have turned to these tournaments as a way to bring a point of interest that can attract users from both spaces.
- The purpose brought to the table is the idea of climbing the ranks. It’s only normal that you feel some sort of gratification from doing so, which is distinct from the dopamine rush you feel after a winning spin. For a sports betting enthusiast, it can feel like hitting a parlay with quite a few legs.
- When talking about added value, we’re clearly speaking of the reward. After all, any competitor wants to feel like there is something to strive towards. You may find this in hoping that you get 1st place, but also just finishing in a winning position.
Things are also quite interesting when you look at the format of the tournament. Some require a bit of effort in addition to luck, while others are all about finding the right spin at some point.
- The most equitable tourney style is the one that needs you to land the biggest possible multiplier. You’d simply have to spin over and over, hoping for a bigger multiplier at some point. There’s also the theoretical case in which you can win the competition in one single round.
- Those that require more effort are those that require total volume. If you have to score as many spins as possible, or if you need to receive as much profit or winnings as possible, you’d also have to calculate the stake you place.
Incentivization can work across different styles
Before we reach the conclusion of this article, we’d like to also dabble in the territory of what you can actually win if you have a good finish.
Namely, the fact that some sports betting fans may want to enter a tourney specifically because they can win something that helps them.
Perhaps free bets to use in the sportsbook. Maybe even a preferential set of incentives that, for example, helps them bet on more double chances than before. Boosted odds are also a very interesting possibility.
As we’ve said, regulations across different markets oppose this thing. Ultimately, this is what cross-selling is about, and providing a reward for tournament gambling is a decent strategy.
Conclusion
Now that we’ve touched on all the primary points that work in this premise, it’s time to put the finishing touch. We understand and support anyone looking to have fun with gambling, but only if they do so responsibly. This is why, for the sake of your well-being, we recommend that you play carefully!