Embrace a Sportsbook to Drive Fan Experience and Engagement
Unlocking revenue and fan opportunities through sports betting.
- You're having a hard time deciding which type of business model you should use for your sportsbook approach.
- The variety of software and hardware components available for sportsbooks makes it hard to decipher what your organization needs the most.
- The COVID-19 pandemic has caused revenue and fan disruption in your organization, and you're considering a sportsbook initiative to help resolve this disruption.
Our Advice
Critical Insight
- There is no one-size-fits-all business model that will work for every organization's sportsbook.
- It's crucial to offer an experience your fans will keep coming back for. Your chosen sportsbook should drive fan engagement and revenues by providing a unique and personalized experience to your fans in person and/or through technology.
Impact and Result
- Understand the environment your organization lives in and your fans’ journeys to decide whether you should pursue a sportsbook.
- Decide on the business model that best aligns with your organization's goals for a sportsbook initiative.
- Consider the different vendors, platforms, and technology available for each sportsbook business model.
- Become familiar with the different sportsbook vendors and consider whom you may wish to partner with.
- Carefully review and negotiate the vendor contracts needed to move forward with your sportsbook initiative.
About Info-Tech
Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.
We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
What Is a Blueprint?
A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.
Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.
Need Extra Help?
Speak With An Analyst
Get the help you need in this 2-phase advisory process. You'll receive 12 touchpoints with our researchers, all included in your membership.
Guided Implementation 1: Identify the sportsbook business model that reinforces the drivers of your organization
- Call 1: Conduct a scoping call and identify key stakeholders.
- Call 2: Discuss and determine your jurisdiction’s regulations.
- Call 3: Create fan profiles and fan journey maps to understand your demographics.
- Call 4: Preform a PESTLE analysis to understand the macro environment your sportsbook would live in.
- Call 5: Determine your weightings for the characteristics of the business models.
- Call 6: Conduct a strategic analysis to identify core competencies.
- Call 7: Determine your tolerance for each characteristic and pick a business model.
Guided Implementation 2: Analyze the sportsbook platform solutions and prepare for your contract
- Call 1: Discuss which approach is best for your sportsbook.
- Call 2: Analyze which sportsbook vendor(s) are best to move forward with.
- Call 3: Conduct requirements gathering for your sportsbook to identify needs.
- Call 4: Discuss your contracts to ensure all key provisions are set by using the Contract Review Tool.
- Call 5: Develop an effective training and information program.
Contributors
- Steve Reese, CIO, Suns Legacy Partners, LLC
- Sasha Purico, CTO, Philadelphia 76ers
- 3 anonymous contributors