The European Cup, which is held every four years, is in full swing and has a significant beneficial impact on the industry. Due to the widespread attention of the game, the European Cup has attracted a large number of spectators and bettors. Both professional gamblers and casual fans tend to place bets during such major events, resulting in a significant increase in betting volumes. As a practitioner, you can easily achieve exponential growth in profits by making good use of online promotions and bonuses to attract new users and motivate existing users during this period. Next, let me take a look at what promotions are usually available.
Welcome Bonuses
First Deposit Bonus: Gaming companies offer new users a first deposit bonus, usually a certain percentage of the deposit amount, such as 100% or more< br> Free betting: New users may receive a certain amount of free betting after registering and making their first deposit. Users can use this free fund for betting without having to use their own savings< br> Setting a welcome bonus to ensure profitability is a process that requires a balance between attracting users and controlling costs.
Here are some key strategies and considerations:
Set deposit bonus amount: A common one is a 100% deposit bonus, which means the bookmaker matches the same amount as the user's first deposit. In order to control costs, a cap is usually set, such as $100 or $200; setting a bonus cap can both attract new users and control excessive spending.
Make good use of free bets: Free bets are usually cheaper than cash rewards because the company only needs to pay out bonuses when users win bets. The amount and number of free bets can attract new users while limiting the company's potential losses; free bets usually come with specific minimum odds requirements and usage periods to ensure users actively participate and increase their chances of losing free bets.
Installment release bonus:
& nbsp; Bonus installment: The welcome bonus will be released in multiple installments, such as users gradually receiving all the bonuses in the first few deposits. This approach encourages users to continue betting and depositing, increasing their loyalty and long-term value.
Deposit requirements: Set a minimum amount and number of deposits to ensure that users invest more money before they can claim their full bonus. For example, users may need to deposit at least $50 in each of their first three deposits to unlock each bonus.
Risk-Free Bets
Users can place risk-free bets on specific matches, and if the bet loses, the bookmaker will return the user's bet amount. This kind of promotion can attract users to make high-risk, high-reward bets.
Setting the minimum odds for risk free bets to ensure a profit for the bookmaker is a carefully weighed process. The following are the key considerations and strategies for setting the minimum odds to ensure a profit:
Key considerations
Attract new users: The minimum odds cannot be set too high, otherwise it may scare away new users. Reasonable minimum odds can attract users to participate while providing challenges to ensure that users make meaningful bets.
Protecting profits: Setting the minimum odds too low may make it easy for users to win, thereby increasing the company's return costs. Appropriate minimum odds can reduce the probability of users winning and reduce the company's potential losses.
Industry Standards: Understand your competitors’ minimum odds settings and ensure your own promotions are competitive, but not too aggressive.
Target market: Set minimum odds based on the betting behavior and preferences of the target user group. For example, experienced bettors may accept higher minimum odds, while novice bettors require lower thresholds.
Strategy and calculation
Example of minimum odds setting: Many bookmakers set minimum odds between 1.50 and 2.00. For example, 1.50 is a common standard because it strikes a good balance between attracting users and protecting the company's profits.
Profit Analysis
Case with odds of 1.50:
If the user bets $100, the odds are 1.50. If the user wins, the company needs to pay $150 ($100 principal and $50 profit).
If the user loses, the company only needs to refund $100 (risk free bet), and the refund is usually free bet, not cash, which further protects the company's cash flow< br> Case with odds of 2.00:
If a user bets $100 and the odds are 2.00, if the user wins, the company needs to pay $200 ($100 stake + $100 profit).
If the user loses, the company returns a $100 free bet. Higher odds increase the user's chances of winning more, but also increase the company's payment risk.
Balanced Strategy
Graded Promotion: Provides multiple levels of risk free betting, with each level corresponding to a different minimum odds. For example, small risk free bets (such as $20) can have lower minimum odds, while large risk free bets (such as $100) can have higher minimum odds< br> User behavior analysis: Use data analysis to understand users' betting behavior and preferences, and dynamically adjust the minimum odds requirements. High risk users can set higher minimum odds to reduce losses.
Enhanced Odds
During the European Cup, users were attracted to place bets by offering enhanced odds on specific matches. Usually, these enhanced odds were much higher than the market average, increasing the attractiveness of the bet.
Setting enhanced odds requires great care and if not managed carefully it can have a negative impact on your company’s profitability. Here are the key steps and considerations on how to calculate and set enhanced odds to ensure profitability:
Determine the original odds
Firstly, determine the standard odds for the event or outcome under normal circumstances. The original odds are usually set by professional odds calculators based on historical data, statistical analysis, and market conditions< br> Analyze the market and competition
Study competitor odds and market reaction to ensure enhanced odds are appealing to users but not too aggressive.
Setting Enhanced Odds
Enhanced odds need to find a balance between attracting users and controlling risks. For example, if the original odds are 2.00, it can be enhanced to 3.00, but the potential losses and break-even point need to be calculated.
Set betting limits
Limit the maximum amount each user can bet on enhanced odds to control potential losses. For example, the maximum bet amount can be set to $20 or $50, so that even if the user wins the bet, the company's risk is manageable.
Calculating the break-even point
The break-even point is the point at which the company can still make a profit after offering enhanced odds. By calculating the break-even point, the company can ensure that in the worst case scenario, it can still maintain profitability.
Set up preventive measures
By limiting the amount a single user can bet, potential losses on a single match can be reduced. For example, each user can only bet a maximum of $50 on enhanced odds.
The following is an example implementation based on the above rules:
Original odds: 2.00
Enhanced odds: 3.00
Maximum bet amount: $50
Number of users: 100
Break-even calculation
Total bet: 100 x 50 = $5,000
Company payout (enhanced odds): 100 x 50 x 3 = $15,000
Company revenue: $5,000
Net loss: 15,000 - 5,000 = $10,000
Control risk with betting limits
Maximum bet amount: $20
Number of users: 100
Total bet amount: 100 x 20 = $2000
Company payout (enhanced odds): 100 x 20 x 3 = $6,000
Net loss: 6000 - 2000 = 4000 USD
In addition to the above three common and effective promotions, there are also Accumulator Bonuses, Cashback Offers, Event-Specific Bonuses, Social Media Promotions, etc. By various means, make reasonable use of these promotions and bonuses to make your business hot with the European Cup!
