Local TV and radio have been cashing in on gambling, sports betting and casino ads for years. Now, there’s a way to help those advertisers extend their reach with digital tactics. Gambling digital ads enable you to offer an integrated campaign that reaches their target audiences. If you’re not able to provide this, you’re missing out on revenue.
According to the experts at BIA Advisory Services, online gambling, including sports betting, will spend $1.8 billion in 2022. In addition, physical casinos are big spenders on advertising to reach local audiences and those planning to visit.
If your state permits sports betting or any gambling (including casinos located on Native American reservations), you have a huge opportunity to provide them with digital ads.
Approaching Gambling Advertisers: Who’s Holding the Chips?
In looking at the gambling ecosystem, there are several different players. Let’s look at each.
Sports Betting Apps
First are the online sports betting apps, which have poured significant revenue into local TV and radio. With four major competitors — FanDuel, DraftKings, BetMGM and Caesars — vying for market share in states where they can operate, they’ve all gone big with commercials. A recent Washington Post article noted that only FanDuel had a profit. The analysis of the surge in spending and subsequent cutbacks seems to be that the ads were “too” effective. The promotions for new bettors were so good that they left little room for revenue.
As the country is now in the season of all sports — football, baseball, basketball and hockey are all in season — those commercials are back on the air looking to court the average sports bettor.
For digital advertising in this category, sports betting apps will be looking to target based on demographics (must be 21), geography, preferences and previous online behavior. With digital tactics, they can focus on specific segments. For example, they could want to welcome more female players, as users currently skew male. A targeted campaign for women could be successful on digital.
The biggest news in sports betting to be aware of is that California will vote to legalize it in the midterms. Should this occur, budget dollars will shift to the state fast.
That’s one side of sports betting; the other is physical sportsbooks.
Online sports betting grew during the pandemic and is currently the only option for most states. Sportsbooks operate in a variety of environments, including commercial casinos and those on reservations. A sportsbook is an experience, and no other place sells this like Circa in Las Vegas, which claims to be the largest in the world and includes three stories!
Physical sportsbooks want to entice locals and visitors to their spaces to bet, drink and celebrate. The ability to drive digital for these locations will be useful for both. A great tactic would be geofencing the area around the sportsbook to reach anyone traveling through the city.
In the U.S., there are commercial, tribal and riverboat casinos. They are destinations for travelers and locals, and they want to reach as many of their targeted demographic (basically anyone 21 or older) as possible. Digital advertising that aligns with where someone is delivers an opportunity to do this. Geofencing can also work here, serving ads on mobile devices within a few miles of the casino. If travelers stop at the restaurant down the street, maybe they’ll want to play a few hands of blackjack.
In areas where gambling is widespread, digital tactics offer casinos a way to gain market share and differentiate what they offer. Those things could include their rewards programs and the perks available for new enrollees. It could also be game specific, such as showcasing blackjack payouts that are more attractive than others.
Some of these casinos could be long-time advertisers that have promoted their restaurants or events through digital ads. They could increase their spend with you when given the option to promote their games.
Gambling Digital Advertising Is Available with NXT
Providing digital gambling ads expands your inventory portfolio and allows you to offer linear and digital advertising with expansive reach and targeting. These solutions are now available through Marketron NXT. The advertising bundles include display (static or video) with geofencing and retargeting.
Learn more about NXT by requesting a demo today.