Online Gambling Needs Innovation, but Is Social Betting Really the Answer?
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BetBull was one of the most popular social betting apps in the UK market. It was unsuccessful and there are lessons to be learnt from its demise. Ben Smith is a team leader at Leadstar Media, which operates over 50 products. He is primarily focused on betting comparison websites in UK and US. Ben believes social gambling is not the next big thing in sports betting.
Online Gambling needs innovation. Social betting is not the answer. Sports social networks have failed to divert attention away from Twitter or WhatsApp.
Bookee launched in 2016 and marketed itself as Tinder for betting. The following year they introduced Splitbet, which was their take on Uber’s successful fare split function.
TikTok’s short-form video format is the latest formula to take the tech world by storm. Jake Paul and Betr are trying to revolutionise sports betting. However, I am not convinced that it will revolutionize sports gambling. I prefer to use the navigation menu or search bar.
Borr is looking to blend micro-betting and social betting. It's not the first brand to do this. It will be interesting to see if it's the right solution for online gambling.
Online Gambling needs innovation. Paddy Power changed the perception of betting at the turn of the millennium. Betr wants to try and play Gen Z at its own game with a TikTok-esque product. However, combining social platform elements with sports betting does not have the best track record in trying to welcome a new generation of punters.
Online Gambling needs innovation. Social betting is not the answer. We don't want to bet against friends. SkyBet gave it a go with Group Bets but even they couldn't crack the code. They should focus on making the business more fun and responsible.
