Why are casinos adding sportsbook on their platform? - page 3.

piebeyb

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We all know that sports betting is much more popular than casino games, maybe it could be an alternative for other users to be able to make a profit in gambling when users experience a lot of losses in casino games. I am also happier with sports betting now because previously I almost used 50% of my budget for casino games and 50% for sports betting. but now almost 90% of my budget goes to sports betting and 10% to playing casino games to just fill my free time.

It seems that sports betting is more popular than casino games and that's just my opinion but apart from that there are slot games which also have many active users playing games which are not much different from sports betting, besides if casinos add that there is no problem as long as it can benefit them and opens up other alternatives for users to gain benefits without any problems. but it's a bit strange if there is a domain site name with "dice" but there is sports betting, it's a bit strange, my suggestion is that the site should be separated like Primedice and Stake.com Wink

rhomelmabini

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Quote from: Botnake on January 02, 2024, 08:52:29 AM

I just noticed recently, after exploring some of the gambling sites that advertise their company in the forum, that they have already added a sportsbook to their platform. There are even gambling sites with names like "dice," which, if we presume right away, we might think they only cater to dice games and other casino games.

However, when you actually visit the site, you'll be surprised to find they have a sportsbook too.

Is it more profitable to run a casino with sports betting on their platform?

Well, having more preferences for a gambler makes these casinos tend to cater the needs even if it means they have brand for a specific game. I think these days it's way too profitable again for casinos to have sports betting considering we've had most industry stopped because of the pandemic. In terms of profitability I think that still depends on the casino's user base and how they will attract more players.

Marvelman

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Well, seems pretty obvious that casinos should get in on sports betting too, right? That whole sportsbook thing is blowing up as a huge industry. Everyone wants a piece of those bets. Makes sense when you think about it. Casinos are entertainment spots looking for traffic, and sports fans love placing wagers and two great tastes that taste great together. Plus sports gambling can pull in serious cash. We're talking billions changing hands. So casinos adding sportsbooks, that's just them getting in on the action. More customers, more money. Win-win. What casino wouldn't want that?

Jawhead999

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The most important thing it's not forbidden or harm other sites, so there's nothing wrong for a casino to accept sportsbook, a bookie to accept slots, a live casino accept lottery etc. Actually they're taking more risk because they need to cooperate with the gambling provider or a professional bettor gamble in their casino. They either become bigger or they might bankrupt, just like "gambling" terms itself, high risk high return.

Botnake

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Quote from: acroman08 on January 02, 2024, 09:18:17 AM

Quote from: Botnake on January 02, 2024, 08:52:29 AM

Is it more profitable to run a casino with sports betting on their platform?

seeing that a lot of casinos have included sports betting on their gambling sites, I'd say yes. I mean, putting sports betting on their gambling site would expand their target audience which could result in more traffic on their gambling site, more gamblers, and then more profit( i just simplified what could happen if an online casino added sports betting on their platform).

Probably the cost of running a sportsbook isn't that expensive compared to the past, and that's the reason why an old dice site/s or casinos are already adding sports betting on their website. We all know that sports betting industry is the largest in the gambling industry, but only few were popular in the past therefore starting one might be too risky for the operator.

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You guys gave a very informative answer. Now, I think I could explore more gambling sites since I can be sure they have sportsbook as well. I can shop among the many on which gambling site offers the most competitive betting odds.

CryptSafe

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I presume you know that casinos are business ventures owned by individuals who are out there to make profit. Every casino would always be out to look for means of getting more clients their casino website so therefore, adding sports book would not be a big deal because as it is now, lots of gamblers are a kind of opting for sports book games and I noticed too that seems to be a trend now in the gambling industry and as such, many casino would not want to be left behind as they would make sure to upgrade or update to that level.
Just as other members here have said, there is always benefit and this also generate hugh traffic to the casino website because of the new features .

dothebeats

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It maximizes their platform to offer almost all of the gambling categories. It helps them to get all the customers they can get, and in turn, players don't have to go to other places if they want to play casino or bet on sports. For us gamblers, it reduces the need to transfer funds between different platforms. We simply have to switch within the games in that casino and everything is done for us.

Sometime along the way, I'm sure that a lot of other casinos will soon convert into a full-on gambling house with sports betting being offered. It's the way forward and for them to maximize their profits as well.

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Quote from: danherbias07 on January 02, 2024, 09:21:51 AM

I noticed this too when I visited gambling sites that are known as casino-only platforms. I guess they realized they could use more of their system through sports books or they think it's a waste of hardware if they are only running casino games.

If casinos begin to be providing sport bet, they may have to employ more workers and also increase hardware and other things required. Do not forget that casinos and sport betting are not the same and need different approaches. The reason some start as a casino is because they do not have enough money to become both casino and a bookmaker, but as they start with one, they will be able to fund the other which they will later also established as they make money. So it is not about waste of hardware or waste of anything, they need more hardware and some other things before they will begin sport betting.

YOSHIE

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Quote from: Botnake on January 02, 2024, 08:52:29 AM

However, when you actually visit the site, you'll be surprised to find they have a sportsbook too.

Is it more profitable to run a casino with sports betting on their platform?

I remember one of the sources I read a few weeks ago, with the title: The Reasons Why Online Casinos Should Offer a Sportsbook.

I think the quote below, could be a good answer to your question about the reasons why many online casinos add sportsbook betting features to their casino platforms.

Quote

Over the last couple decades, sports betting has exploded in popularity across the globe. In 2020, the global sports betting market was valued at over $66 Billion USD and is expected to continue growing at a compound annual growth rate (CAGR) of 10.1% from 2021 – 2028. A number of factors led to the growth of sports betting worldwide including the rise of streaming platforms, more betting operators and apps popping up online, increased fan engagement through social media, rising median incomes, and a shift from black market betting to legal betting due to regulation in the industry.

So do statistics/graphs Sports Betting Market Size, Share & Trends Analysis Report By Platform, By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, eSports Betting), By Sports Type, By Region, And Segment Forecasts, 2023 - 2030.

My understanding of some of the data above can show why many casinos are currently creating sports betting features, which is clearly very profitable for the casino.

danherbias07

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I noticed this too when I visited gambling sites that are known as casino-only platforms. I guess they realized they could use more of their system through sports books or they think it's a waste of hardware if they are only running casino games.
It's not like they are going to lose a lot in sports betting, predictions are not easy and there are more sports bettors who are more inclined with their emotions when they pick teams so I guess they will also make profits by creating a business in that industry.
I also noticed that most casino sites that are focused on those types of games didn't do pretty well in creating a system with sports gambling. I tried one site before (won't mention the name) and all I can say is they cannot create a good UI that would fit it for the ease of their customers or perhaps I was too early when I visited their site and they are still maintaining it.
Still, I would not just trust any sports bookie, I would stick with what I have been using for years.

acroman08

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Quote from: Botnake on January 02, 2024, 08:52:29 AM

Is it more profitable to run a casino with sports betting on their platform?

seeing that a lot of casinos have included sports betting on their gambling sites, I'd say yes. I mean, putting sports betting on their gambling site would expand their target audience which could result in more traffic on their gambling site, more gamblers, and then more profit( i just simplified what could happen if an online casino added sports betting on their platform).

Eternad

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Quote from: Botnake on January 02, 2024, 08:52:29 AM

I just noticed recently, after exploring some of the gambling sites that advertise their company in the forum, that they have already added a sportsbook to their platform. There are even gambling sites with names like "dice," which, if we presume right away, we might think they only cater to dice games and other casino games.

However, when you actually visit the site, you'll be surprised to find they have a sportsbook too.

It’s called evolving. Many casino upgrade their casino without ditching their original brand since they are known for that name. Same with blackjack.fun that was supposed to blackjack casino that later on add sportsbook and other games. I believe Primedice is the only casino that I knew that launch separate casino for their full casino with sportsbook.

Quote from: Botnake on January 02, 2024, 08:52:29 AM

Is it more profitable to run a casino with sports betting on their platform?

Yes, Sports betting is already popular and probably dominates the gambling industry besides slot games,

Yogee

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Quote from: Botnake on January 02, 2024, 08:52:29 AM

[....] Is it more profitable to run a casino with sports betting on their platform?

I guess it is. Owners understand that a good portion of their players probably bet on sports so it would be a waste to let them play in another platform. I think the cost of incorporating a bookie and getting a sportsbook license are manageable for them. Maybe the process isn't that complicated as well so it make sense to add to a casino.

Sanitough

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I think what they are trying to offer is the "one stop shop" kind of gambling site. Having a variety of casino games and sportsbook will most likely attract gamblers, and since that has been the trend already, we can assume that the kind of strategy is working.

Personally, I also played some casino games, but not a lot, it's really sportsbook that is my main focus when trying to have fun.

Before, I knew some popular sportsbook nitrogensports and cloudbet, they are mostly focus on sports betting but I think they start adding casino games eventually. So IMO, this is a way to remain competitive in the market.

Oshosondy

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Quote from: Botnake on January 02, 2024, 08:52:29 AM

Is it more profitable to run a casino with sports betting on their platform?

There are some gambling sites that are only bookies and what you will notice about them is that if they have more traffic they will be earning more money from customers. That means that bookmarker is also profitable.

The reason casinos later become bookies also and have both casinos and sport betting is because they believe that their customers will have more varieties and also more people may join their gambling site because some people will like one and not the other.

Some gambling sites may want to have the two, but first begin with one before adding the other.

Botnake

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I just noticed recently, after exploring some of the gambling sites that advertise their company in the forum, that they have already added a sportsbook to their platform. There are even gambling sites with names like "dice," which, if we presume right away, we might think they only cater to dice games and other casino games.

However, when you actually visit the site, you'll be surprised to find they have a sportsbook too.

Is it more profitable to run a casino with sports betting on their platform?

Topic: Why are casinos adding sportsbook on their platform? - page 3. (Read 359 times)