How can a new sportsbook gain trust? - page 8.

Peanutswar

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Quote from: mindrust on May 28, 2022, 06:44:49 AM

Quote from: Apocollapse on May 27, 2022, 10:46:19 PM

Quote from: d3nz on May 27, 2022, 06:45:08 AM

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

Some of them casinos provide an option for the investors to participate in the casino's bankroll. But of course the casino/owner still takes the biggest share and gives the shareholders less then what they deserve theoretically. That's because the owner spent time and money to make the casino going and it has various expenses. Let's say the casino has a $100k bankroll. If an investor invested $10k into the bankroll, he should get 10% of the profits. But he gets less than 10%. Some casinos used to do this but I don't there are many left.

If you are a gambling platform running for a long time I guess its not ideal because you just exchange a small amount in short term than in long term, yeah what if they will run the funds still its a short term imagine those earnings they can get into daily active users or players into their community. Also its unexpected both it depends on the owner if they will give it back to their users but of course for the KYC users only might probably.

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Money capital in the bankroll of the casino is a must and $100k dollars is a good start in the new casino because if a player wins they can provide and they can also sustain the withdrawal of winners and through this scenario and a gambler successfully withdrawn for sure they leave a positive feedback and that's the start of a good reputation but the most important Thing is they must handle their customer well.

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Quote from: Apocollapse on May 27, 2022, 10:46:19 PM

Quote from: d3nz on May 27, 2022, 06:45:08 AM

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

I wonder if the online casino industry has its own rating agencies? Or is this industry not yet ripe for such innovations?

Rating agencies are an important element of any industry in which the reputation of market participants is of great importance. Ratings allow users to get an expert opinion about a particular online casino.

This will protect users' funds and make gambling more comfortable.

Perhaps there are such ratings, I just don't know about them?

mindrust

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Quote from: Apocollapse on May 27, 2022, 10:46:19 PM

Quote from: d3nz on May 27, 2022, 06:45:08 AM

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

Some of them casinos provide an option for the investors to participate in the casino's bankroll. But of course the casino/owner still takes the biggest share and gives the shareholders less then what they deserve theoretically. That's because the owner spent time and money to make the casino going and it has various expenses. Let's say the casino has a $100k bankroll. If an investor invested $10k into the bankroll, he should get 10% of the profits. But he gets less than 10%. Some casinos used to do this but I don't there are many left.

dezoel

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When it comes to trust, there is nothing but longevity that can give a sportsbook the trust they are desperately looking for. I mean you may have the best design and lucrative offers but that doesn't earn you trust. There used to be a casino named something like goosebet and it looked very promising but then turned scam.

In terms of functionality, there are a few things sportsbook can improve to bring in more players

1- Bet placement times
2- Low min and max amount
3- Instant or at least quick cashouts
4- Bet cashouts for sports betting

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Quote from: Apocollapse on May 27, 2022, 10:46:19 PM

Quote from: d3nz on May 27, 2022, 06:45:08 AM

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

and this is why we must look into this matter also because we should learn what are the capacity of each casino/sportsbook when we enter because aside from legit site there yet there are scams around the globe that only waiting for when to strike , what to victimized and where to seek victims.
and sadly this forum is the best target from them so better be aware of that as there is nothing we can do once we lose from scam site.

SirLancelot

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Quote from: d3nz on May 27, 2022, 06:45:08 AM

First of all, they should have service support that can reply to the queries of the new player and investor, having a good reputation will take time but it can be earned by providing satisfaction to the player when navigating the website and handling issues and also the security of the assets.

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Oh yeah having live support makes the bettors feel comfortable but the support must be able to help as well. I won't name casinos here because I don't want to defame anyone but some of the casinos have pathetic support which just tries to evade the question and eventually find a reason to close the chat or refer to email support.

Another thing that I personally look for when visiting a new sportsbook is some kind of a welcome offer or something like boosted odds. Because if a new sportsbook is not offering something unique as compared to the site I play currently, then no reason for me to switch over.

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Quote from: Apocollapse on May 27, 2022, 10:46:19 PM

Quote from: d3nz on May 27, 2022, 06:45:08 AM

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

That's we should trust a casino that has a good reputation already because they are less likely to run since they are operating a profitable business. In terms of insurance, I don't know any casino that has that kind of features, so as a gambler, we just have to minimize the risk, don't store money on a gambling site, just actively move in and out your money.

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Quote from: Smartprofit on May 27, 2022, 01:05:30 PM

In my opinion, the most important thing is honesty and openness.

Representatives of the bookmaker's office must constantly conduct a dialogue with users and customers. It is necessary to promptly inform about your plans, talk about current activities, respond to criticism, and admit mistakes.

The client will forgive the bookmaker for any mistake if it is promptly recognized and corrected.

Feedback from users will allow the bookmaker to improve its activities and become better.

I don't think forgiveness will be given in those cases, just that they at the very least know that the casinos openly admit to their mistakes, and are willing to compensate for it. That in itself brings about a reputation that the casino was made for the players and their services are for the players.

Quote from: AmoreJaz on May 27, 2022, 05:54:28 PM

if they can't afford spending large money in marketing, they can still earn credibility thru time. it may be long and hard, but these players once you get their trust, they will be your loyal players. the reputation of the casino or bookie is not earned overnight. so that's fine if they won't run high-reward events. but at the beginning, at least hold some small events or bonus program. it doesn't need to be expensive reward. this is just to attract potential players. and for me, it is better to run bug bounty program rather than promotional activity. this bug bounty will further help improve the site itself and it will show that the site is sincere in giving good services to the players.

Players earned through marketing are mostly people who are in it for the bonus, they'd probably leave at first notice after said bonuses die down so really, players who join a casino through their credibility should be the market that a casino should target. If they can do marketing though, then all the better imo.

Apocollapse

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Quote from: d3nz on May 27, 2022, 06:45:08 AM

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

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Quote from: AmoreJaz on May 27, 2022, 05:54:28 PM

Quote from: Renampun on May 27, 2022, 02:05:43 PM

Quote from: p67 on May 19, 2022, 05:50:32 AM

...

So I’m looking for thoughts on how to gain trust and reputation, because I know I would have doubts depositing money into a brand new sportsbook that’s just appeared out of thin air.

no matter how perfect the product you make, as long as you can't market it then it will be useless...

if you want to make a sportsbook famous (just appeared) then the most important thing you do is marketing, never be stingy with marketing costs at the beginning because it is important. you can try by holding a campaign or contest on this forum or try something else.

if they can't afford spending large money in marketing, they can still earn credibility thru time. it may be long and hard, but these players once you get their trust, they will be your loyal players. the reputation of the casino or bookie is not earned overnight. so that's fine if they won't run high-reward events. but at the beginning, at least hold some small events or bonus program. it doesn't need to be expensive reward. this is just to attract potential players. and for me, it is better to run bug bounty program rather than promotional activity. this bug bounty will further help improve the site itself and it will show that the site is sincere in giving good services to the players.

Whenever you do build a business then always consider on allocating budget for marketing because it would really be that crucial in your business success and relevance in the market and as considered out that competition is really high then you should really make yourself at least aggressive when it comes to this.

It worth the try on something which should really be default on any business.Exposure is a must thing to be considered.

AmoreJaz

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Quote from: Renampun on May 27, 2022, 02:05:43 PM

Quote from: p67 on May 19, 2022, 05:50:32 AM

...

So I’m looking for thoughts on how to gain trust and reputation, because I know I would have doubts depositing money into a brand new sportsbook that’s just appeared out of thin air.

no matter how perfect the product you make, as long as you can't market it then it will be useless...

if you want to make a sportsbook famous (just appeared) then the most important thing you do is marketing, never be stingy with marketing costs at the beginning because it is important. you can try by holding a campaign or contest on this forum or try something else.

if they can't afford spending large money in marketing, they can still earn credibility thru time. it may be long and hard, but these players once you get their trust, they will be your loyal players. the reputation of the casino or bookie is not earned overnight. so that's fine if they won't run high-reward events. but at the beginning, at least hold some small events or bonus program. it doesn't need to be expensive reward. this is just to attract potential players. and for me, it is better to run bug bounty program rather than promotional activity. this bug bounty will further help improve the site itself and it will show that the site is sincere in giving good services to the players.

Renampun

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Quote from: p67 on May 19, 2022, 05:50:32 AM

...

So I’m looking for thoughts on how to gain trust and reputation, because I know I would have doubts depositing money into a brand new sportsbook that’s just appeared out of thin air.

no matter how perfect the product you make, as long as you can't market it then it will be useless...

if you want to make a sportsbook famous (just appeared) then the most important thing you do is marketing, never be stingy with marketing costs at the beginning because it is important. you can try by holding a campaign or contest on this forum or try something else.

Hamphser

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Quote from: Peanutswar on May 27, 2022, 07:55:49 AM

Quote from: nakamura12 on May 19, 2022, 11:05:45 AM

Just build your way up and soon you will be trusted by many when you finally show it to people that the sportsbook can be trusted. Building up good reputation could also help the sportsbook gain the people's trust faster. Starting a promotion like a signature campaign for example and another promotion for the gamblers in the site. Responsive customer support would also bring a good impression to the gamblers if ever they experience an issue.

Mostly it's all depends on the quality of the product and services given by the gambling platform supporting a sportsbook that way the players or the members already make a good kind of review and suggestion with the platform if the management will listen to the communities suggestion. in my base option a trusted sportsbook platform has a good and fast support at the same time is they make a lot of bonus and fast transactions for the game ends and deposit and withdrawals.

Quality does matter and if the community won't able to see such quality in terms of giving good service then it would really be resulting into rejection or being getting ignored because people won't really be that interested into something which haven't able to meet their preferences or expectations.

Getting trust specially for a new service or platform isn't something simple because it would be depending or composed of different factor's which you do need to meet up so that you would get such recognition.

Smartprofit

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In my opinion, the most important thing is honesty and openness.

Representatives of the bookmaker's office must constantly conduct a dialogue with users and customers. It is necessary to promptly inform about your plans, talk about current activities, respond to criticism, and admit mistakes.

The client will forgive the bookmaker for any mistake if it is promptly recognized and corrected.

Feedback from users will allow the bookmaker to improve its activities and become better.

MMysterious

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In my country the most popular and used sportsbooks have agents. The agents are also doing many marketing strategies to gather many referrals. Somewhat similar to referrals in crypto sportsbook. Popular people in communities and even known personalities like actors and actresses, athletes, models and gamers are made master agents. Once the common people will see them promoting particular sportsbooks it will come into their minds as reliable and trusted.

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Quote from: nakamura12 on May 19, 2022, 11:05:45 AM

Just build your way up and soon you will be trusted by many when you finally show it to people that the sportsbook can be trusted. Building up good reputation could also help the sportsbook gain the people's trust faster. Starting a promotion like a signature campaign for example and another promotion for the gamblers in the site. Responsive customer support would also bring a good impression to the gamblers if ever they experience an issue.

Mostly it's all depends on the quality of the product and services given by the gambling platform supporting a sportsbook that way the players or the members already make a good kind of review and suggestion with the platform if the management will listen to the communities suggestion. in my base option a trusted sportsbook platform has a good and fast support at the same time is they make a lot of bonus and fast transactions for the game ends and deposit and withdrawals.

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Quote from: p67 on May 19, 2022, 05:50:32 AM

Hi, so I think I have seen an opportunity to operate a sportsbook in a way that is slightly different and probably more user friendly than how the current ones are operating. I’ve been working in the online gambling industry for 10 years now and I know how a lot about betting markets and how the odds work so I’m not worried about that side of things.

There seems to be a lot of scams out there and I’m looking for insight on how to be trustworthy. Not looking to scam anyone or steal, I just want to run a good, well respected sportsbook. I guess people will say to use kyc or licenses but I’d like to hold off on these. In my experience having licensing and kyc does not necessarily mean that you are a good honest sportsbook. Be interesting to hear thoughts on this as it may sound suspicious?

So I’m looking for thoughts on how to gain trust and reputation, because I know I would have doubts depositing money into a brand new sportsbook that’s just appeared out of thin air.

Trust isn't earned in one day. It is gain through daily transparent and diligent services. You do not need to rush things, it will build up as long as you are doing an honest business. Hiring reputable personalities may help but at the end of the day it is the sportsbook performance that will dictate if they are trusted or not.

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Quote from: Jawhead999 on May 24, 2022, 06:31:41 PM

It's better if you just focus and be honest about your sportsbook rather than ask someone how to gain a trust. If your sportsbook are good, have a good odds, contest, honest and very responsible to solve an issue, I don't think anyone will avoid your sites.

Being honest is a thing that will make more gamblers to bet on your sportbook and through that, you can gain honesty that will make your platform more interesting with better reputation. Gamblers are always careful about new gambling platform because of the risk that is attached to it. New platform can easily gain trust based on what they offer and lure users through bonuses and other benefits in order to run away with gamblers money. Gamblers are very careful these days to avoid unnecessary loses.

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First of all, they should have service support that can reply to the queries of the new player and investor, having a good reputation will take time but it can be earned by providing satisfaction to the player when navigating the website and handling issues and also the security of the assets.

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Topic: How can a new sportsbook gain trust? - page 8. (Read 1793 times)