SECAUCUS, N.J. — Although sports betting is fast-growing and profitable, online casinos remain more profitable. According to Bally’s Chairman Soo Kim, who delivered the keynote at the SBC Summit North America in New Jersey on Wednesday, igaming revenues are seven times larger than sports betting revenues. So, online casinos are a massive growth opportunity for sportsbooks that can integrate the two.
Some operators, like BetRivers, offer online casinos alongside their online sportsbooks. Bettors can switch between both services through an easily accessible tab. However, sportsbooks and online casinos remain disjointed. Operators could do a better job of converting sports bettors to casino gamblers and vice versa.
One way that operators could do this in the coming years is by allowing bettors to place sports bets and casino games on the same bet slip.
Combining Sports Betting And Casino Gaming
Putting casino games alongside sports wagers isn’t as far-fetched as it may seem. Sports betting is a type of wagering like a roulette bet is. The odds and activities are different. Sports betting has a skill component that roulette lacks. However, they’re fundamentally similar enough that they could one day be listed side by side on the same ticket.
This would accomplish two things for operators. First, operators would be more likely to convert casino customers into sportsbook customers and vice versa. Operators could have a pop-up prompt for bettors to place a roulette bet after placing a sports bet. These could go on the same ticket and be settled around the same time. It would boost revenues for operators because they’d boost customer spending.
However, it would also make mobile betting more interactive. Deciphering sportsbook odds distracts bettors from their games and draws bettors’ focus to the sportsbook. Although that’s an issue for engaging bettors in sports, it’s an opportunity for igaming operators. This focus can be used to draw sports bettors into casino gaming.
These features aren’t out at sportsbooks or online casinos yet. However, they could be part of the next era of sports betting and igaming. As the dust settles in the race for market share among sportsbooks, this will be a trend to watch for in states with legal sports betting and online casinos.