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Time to get into the gamification game
Tomer Baumel, Founder at CEO of Solitics, talks about why personalised gamification is the best way for operators to differentiate and bring tremendous added value to their players
Differentiation. This is something that operators strive for but, in reality, is very hard to achieve. If you take a look at the online betting and casino experiences available to players in any given market, it’s hard to come across many brands that truly stand out.
Most offer the same welcome bonuses, similar games/odds, the same payment options and deploy the same tactics for fostering loyalty once the player has signed up and deposited for the first time. But loyalty must be earned, and right now, casinos and sportsbooks are not doing enough.
For many, retention is a tick-box exercise based around level-up loyalty schemes, offers sent out via email and SMS, and the occasional generic pop-up message that aims to keep players engaged with the sportsbook or casino – usually with free bets or free spins.
The majority of players will be familiar with these tactics and are sufficiently smart and savvy to know the sportsbook or the casino brands do this to encourage them to play for longer.
There is nothing wrong with operators taking this approach, but it is boring at best. Retention should be fun and exciting, and there is a lot that casinos and sportsbooks can do to be different to their rivals and add tremendous value to the player experience – value that will ensure they stick around.
How? Personalised gamification.
Gamification has been an industry buzzword for some time now, but few operators have yet to truly incorporate it, and personalise it using data, into the overall player experience. Personalisation is how how operators will unlock the huge potential gamification offers for both acquisition and retention, and ultimately differentiation.
Not only can gamification be used to transform the user experience across multiple touch points, but it can also be used by operators to drive certain player behaviour such as making a deposit or continuing to play even after a run of losses.
Gamification comes in many forms, but at Solitics, we have just launched a new Gamification Module that includes Gamification Widgets with highly customisable mini-games that operators can use to elevate the player experience to boost both acquisition and retention. Mini-games are the perfect gamification tool. They can be combined with promos and bonuses to help the brand connect with the players and build trust.
Because the experience is gamified and highly customised to players’ preferences and playing patterns, operators can guide users’ behaviour in a way that is authentic, allowing them to generate a much higher life-time value from the players than when they are incentivised by traditional or generic offerings.
So long as mini-games can be customised and configured, operators can be smarter in how they bonus and run promos that are far more effective while avoiding overbonusing and overspending.
For example, if you would like a player to log-in each day to claim a daily surprise, instead of offering £5 bonus upon log-in, the operator can engage the player with daily challenges such as ‘login and get a daily surprise’. During this mission, player will get to spin the wheel to determine his daily prize, and also see an interactive map of his progress. From managing the bonus economy point of view – since the widget is entirely customized by the brand. This actually adds excitement for the player while reducing the bonusing cost for the operator.
Positive, fun experiences also generate advocacy, with players recommending the brand to others.
Personal gamification widgets are also a powerful driver of acquisition, especially when deployed as part of the onboarding journey through game introducing carousels, or spinning a prize wheel to determine the welcome bonus they receive.
Of course, operators need to be able to differentiate through the mini-games they offer to their players otherwise players will once again find themselves swimming in the sea of sameness. This is why we have ensured our mini-games offer unrivalled opportunities for customisation and personalisation including brand colours, content, bonuses configuration, all of which are easy to change.
With Solitics, marketers can choose from a pre-set library of games and customise them, or they can create their own games from scratch, all from a single UI, with no need for heavy development resources.
That said, it’s still important for the right games to be delivered to the right players at the right time and this requires the use of data and segmentation.
Our solution is built on top of the operator’s data house which allows marketers to be incredibly granular in terms of who gets the game, the accompanying bonus, the communication that goes with it and the channel via which it is deployed. This is all done through a single platform and UI.
Despite the potential personalised gamification offers to take the entire player experience to the next level, and for brands to be heard above the noise being made by the competition, the majority of operators have yet to really get behind it.
We believe that our solution is a game-changer here and those that get in the game will be surprised by just how effective gamification can be when it comes to acquiring and retaining players at scale while offering a strong USP for their brand or brands.
The post Time to get into the gamification game appeared first on European Gaming Industry News.
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Sportradar Reports Fourth Quarter and Full Year 2024 Results and Announces Agreement to Acquire IMG Arena and Its Strategic Portfolio of Global Sports Betting Rights
Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its fourth quarter ended December 31, 2024.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “We are pleased with our strong execution in 2024, achieving record revenue, operating margins and free cash flow generation. Importantly, we continued to build on our key competitive advantages including enhancing the depth and breadth of our content portfolio and further innovating on our product offerings. On the content front, with the extension and expansion of our Major League Baseball partnership, we now have all our existing major rights locked in for an average of six years, providing us with great cost visibility. And with the announced agreement to acquire IMG ARENA’s sports rights portfolio, we will further enhance our sports coverage in some of the most bet on sports globally. This past year we also grew our product offering, launching a number of award-winning products that expand our best-in class product suite and bring fans closer to their favorite sports. Importantly, as we grow our topline, we are at an inflection point for multi-year margin expansion and increasing cash flow, positioning us to deliver meaningful shareholder value for years to come.”
FOURTH QUARTER AND FULL YEAR REVENUE BY PRODUCT GROUP
Revenue
| Three-Month Period Ended December 31, |
Year Ended December 31, |
||||||||||||||||||
| in € thousands (unaudited) | 2024 | 2023 | Change | % | 2024 | 2023 | Change | % | |||||||||||
| Revenue by product | |||||||||||||||||||
| Betting & Gaming Content | 191,783 | 147,747 | 44,036 | 30 | % | 707,119 | 530,099 | 177,020 | 33 | % | |||||||||
| Managed Betting Services | 55,145 | 55,870 | (725 | ) | (1 | )% | 199,871 | 173,391 | 26,480 | 15 | % | ||||||||
| Betting Technology & Solutions | 246,928 | 203,617 | 43,311 | 21 | % | 906,990 | 703,490 | 203,500 | 29 | % | |||||||||
| Marketing & Media Services | 44,282 | 36,445 | 7,837 | 22 | % | 146,919 | 126,629 | 20,290 | 16 | % | |||||||||
| Sports Performance | 11,051 | 10,608 | 443 | 4 | % | 40,366 | 39,758 | 608 | 2 | % | |||||||||
| Integrity Services | 4,809 | 1,916 | 2,893 | 151 | % | 12,281 | 7,744 | 4,537 | 59 | % | |||||||||
| Sports Content, Technology & Services | 60,142 | 48,969 | 11,173 | 23 | % | 199,566 | 174,131 | 25,435 | 15 | % | |||||||||
| Total Revenue | 307,070 | 252,586 | 54,484 | 22 | % | 1,106,556 | 877,621 | 228,935 | 26 | % | |||||||||
| Revenue by geography | |||||||||||||||||||
| Rest of World | 232,298 | 199,738 | 32,560 | 16 | % | 843,791 | 711,613 | 132,178 | 19 | % | |||||||||
| United States | 74,772 | 52,848 | 21,924 | 41 | % | 262,765 | 166,008 | 96,757 | 58 | % | |||||||||
| Total Revenue | 307,070 | 252,586 | 1,106,556 | 877,621 | |||||||||||||||
FULL YEAR FINANCIAL RESULTS
Revenue
Total revenue for the full year was €1,107 million, up €229 million, or 26% year-over-year driven by 29% growth in Betting Technology & Solutions and 15% growth in Sports Content, Technology & Services.
Betting Technology & Solutions revenues of €907 million were up 29% year-over-year primarily driven by a 33% increase in Betting & Gaming Content benefiting from existing and new customer uptake of products and premium pricing from NBA and new ATP product offerings, as well as from overall strong U.S. market growth. Managed Betting Services of €200 million were up 15% driven by strong growth in Managed Trading Services from higher trading margins and increased betting activity from existing and new clients.
Sports Content, Technology & Services revenues of €200 million increased 15% year-over-year primarily driven by 16% growth in Marketing & Media Services with strength in both European and North American ad:s revenue, with a variety of sportsbooks investing in marketing campaigns during the year.
The Company generated strong revenue growth globally with Rest of World up 19% and the United States up 58%. As a percentage of total Company revenues, United States revenue represented 24% of total Company revenue for the full year as compared to 19% in the prior year due to continued market growth, additional customer uptake of our products and premium pricing.
Profit for the period
Profit for the full year was €34 million, in line with the prior year. The strong operating results were primarily offset by a foreign currency loss of €38 million for the full year compared to a €23 million gain last year, due to unrealized currency fluctuations associated with the U.S. dollar-denominated sport rights. The current year also included higher financing costs due primarily to our new ATP, NBA and Bundesliga partnership deals, as well as an income tax benefit of €11 million driven primarily by the recognition of deferred tax assets.
Adjusted EBITDA
Full year Adjusted EBITDA was €222 million, up €56 million, or 33% compared to €167 million in the prior year. The increase was largely driven by the 26% revenue growth, partially offset by increased sport rights costs primarily related to the NBA and ATP partnership deals, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses primarily due to headcount growth and a higher bonus accrual in the current year.
FOURTH QUARTER FINANCIAL RESULTS
Revenue
Total revenue for the fourth quarter was €307 million, up €54 million, or 22% year-over-year driven by 21% growth in Betting Technology & Solutions and 23% growth in Sports Content, Technology & Services.
Betting Technology & Solutions revenues of €247 million were up 21% year-over-year primarily driven by a 30% increase in Betting & Gaming Content benefiting from existing and new customer uptake of our products and premium pricing, led by the addition of new ATP content, as well as from overall strong U.S. market growth. Managed Betting Services revenues of €55 million were down 1% as strong growth in Managed Trading Services from higher trading margins and increased betting activity from existing and new clients was more than offset by the impact a year ago from the one-time initial setup revenues related to hardware deliveries for the new Taiwan Lottery deal.
Sports Content, Technology & Services revenues of €60 million increased 23% year-over-year primarily driven by 22% growth in Marketing & Media Services with strength in both European and North American ad:s revenue as several sportsbooks invested in marketing campaigns during the quarter.
The Company generated strong revenue growth globally with Rest of World up 16% and the United States up 41%. As a percentage of total Company revenues, United States revenue represented 24% of total Company revenue in the fourth quarter as compared to 21% in the prior year quarter due to continued market growth, additional customer uptake of our products and premium pricing.
Customer Net Retention Rate of 127% increased sequentially and from prior year demonstrating our ability to cross sell and up sell to our clients, as well as the market growth in the United States.
Loss for the period
Loss for the period was €1 million, down €24 million, compared to profit of €23 million in the same quarter a year ago, as the strong operating results were more than offset primarily by a foreign currency loss of €38 million in the quarter as compared to a €27 million gain last year, due to unrealized currency fluctuations mainly associated with the U.S. dollar-denominated sport rights. The current quarter also included higher financing costs due primarily to our new ATP and Bundesliga partnership deals, as well as an income tax benefit of €20 million driven primarily by the recognition of deferred tax assets.
Adjusted EBITDA
Fourth quarter Adjusted EBITDA was €61 million, up €21 million, or 53% compared to €40 million in the same quarter a year ago. The increase was largely driven by the 22% revenue growth, partially offset by increased sport rights costs primarily related to the ATP partnership deal, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses primarily due to headcount growth and a higher bonus accrual in the current year.
Additional Business Highlights
- Announced the extension and expansion of our partnership with Major League Baseball (“MLB”) for 8 years, beginning with the 2025 season. Sportradar will exclusively distribute ultra-low latency official MLB data, media content, including MLB Statcast Data, and audiovisual content across our global client network. Additionally, Sportradar and MLB will collaborate on the creation of AI-driven products powered by player tracking data to create immersive, hyper-personalized fan experiences.
- Announced the extension and expansion of our partnership with UEFA covering all UEFA Club and National team competitions, which includes over 900 high-profile matches, a 33% increase from the previous agreement.
- Announced a new long-term partnership with UTR Sports for the UTR Pro Tennis tour, the top tennis tour for rising professionals. Tennis is the second most bet on sport and UTR provides Sportradar with a consistently high volume of tennis matches throughout the year.
- In partnership with the NBA, launched a suite of next generation products and solutions for the 2024 – 2025 season including 4Sight Streaming, emBET, Live Match Tracker and advanced visualizations.
- Introduced micro markets for ATP tennis and basketball, expanding this cutting-edge product to tennis from other popular sports such as soccer and table tennis.
- Enhanced ad:s marketing services providing the most comprehensive 360 degree solution for customers with the launches of new channels including paid search and audio, and the addition of affiliate marketing capabilities through XLMedia.
- Opened an office in São Paulo, Brazil, marking a major milestone in Sportradar’s strategic expansion into that country and across Latin America.
Balance Sheet and Liquidity
The Company’s cash and cash equivalents were €348 million as of December 31, 2024 as compared with €277 million as of December 31, 2023. The increase was primarily driven by net cash generated from operating activities of €353 million due to strong operating performance, partially offset by net cash used in investing activities of €255 million, primarily from the acquisition of additional sport rights, most notably its new NBA and ATP deals, and the acquisition of assets of XLMedia, and from net cash used in financing activities of €37 million, due primarily to share repurchases. Free cash flow for the year ended December 31, 2024 was €118 million, an increase of €67 million from €50 million in the same period a year ago.
Including its undrawn credit facility, the Company had total liquidity of €568 million at December 31, 2024 as compared to €497 million as of December 31, 2023, and no debt outstanding.
2025 Annual Financial Outlook
Sportradar is targeting fiscal 2025 outlook as follows:
- Revenue of at least €1,273 million, representing year-on-year growth of at least 15%
- Adjusted EBITDA of at least €281 million, representing year-on-year growth of at least 26%
- Adjusted EBITDA margin expansion of at least 200 basis points
- Free cash flow conversion1 rate above the 2024 level of 53%
The 2025 guidance does not include any impact from the pending acquisition of IMG ARENA given the uncertainty around the timing of close. Guidance will be updated to incorporate the uplift resulting from this acquisition upon closing.
Share Repurchase Plan
In March 2024, the Board of Directors approved a $200 million share repurchase plan and commenced purchases during the second quarter. During the quarter ended December 31, 2024, the Company repurchased approximately 467 thousand shares for a total of $5.7 million. For the full year 2024, the Company repurchased 1.8 million shares under the plan for a total of approximately $20.3 million.
Subsequent Event
This morning, Sportradar announced it has entered into a definitive agreement with Endeavor Group Holdings, Inc. to acquire IMG ARENA and its global sports betting rights portfolio. IMG ARENA’s portfolio will enhance Sportradar’s content and product offering and further strengthen its strategic position as a leading content provider in the most bet upon global sports, including tennis, soccer and basketball. Under terms of the agreement, IMG ARENA will provide financial consideration totaling $225 million (subject to customary purchase price adjustments), comprised of $125 million cash paid to Sportradar and up to $100 million cash prepayments made to certain of the sports rightsholders. Sportradar will not be required to pay any financial consideration to the Endeavor Group.
With its highly scalable technology platform and extensive client network, Sportradar will seamlessly integrate and monetize these rights, driving incremental value for clients, partners and shareholders. This addition will further accelerate Sportradar’s robust revenue, adjusted EBITDA and free cash flow growth and will be immediately accretive to adjusted EBITDA margins.
IMG’s portfolio of global betting rights comprises strategic relationships with over 70 rightsholders covering approximately 39,000 official data events and 30,000 streaming events across 14 global sports on six continents. Prominent properties include Wimbledon, U.S. Open, Roland-Garros, Major League Soccer, EuroLeague basketball, and PGA Tour, amongst others.
The transaction is subject to customary closing conditions, including regulatory approvals, and is currently expected to close in the fourth quarter of 2025.
Conference Call and Webcast Information
Sportradar will host a conference call to discuss the fourth quarter and full year 2024 results today, March 19, 2025, at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar’s Investor Relations website. An archived webcast with the accompanying slides will be available at the Company’s Investor Relations website for one year after the conclusion of the live event.
The post Sportradar Reports Fourth Quarter and Full Year 2024 Results and Announces Agreement to Acquire IMG Arena and Its Strategic Portfolio of Global Sports Betting Rights appeared first on European Gaming Industry News.
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