Create the Perfect Promotion for Your Sportsbook
When it comes to making your sportsbook popular, it is all about sportsbook marketing. There are many ways to advertise your sportsbook from social media marketing to paid advertising. However, a good promotion is necessary in order to get new players. Today, we show you how to Create the Perfect Promotion for Your Sportsbook without putting your business at risk.
When it comes to making a sportsbook promotion, it’s all about catching the attention of players. For example, a traditional 25% signup Bonus is nice and generous. However, since every other sportsbook is doing it, your bookie business will not draw attention. Therefore, there are two ways to get around it, rewording the promotion or coming up with something new and different.
An effective way to reword a promotion is by relating it to a specific sports event. Another way to reword it is by doing a revers sportsbook promotion. Instead, give out a $100 with no deposit. However, players have to make a $400 within a time limit to keep the bonus.
Tips to Create the Perfect Promotion for Your Sportsbook
Basic Rules for any Sportsbook Promotion
The first rule for sportsbook owners and any business is to not give out what you cannot afford. Of course, this should be part of your business plan on how much money you need to be a bookie. However, that is a little difficult to figure out if we are talking about a percentage bonus from their deposit. Therefore, the best to see if you can afford it, is to limit the maximum amount a player can receive.
For example, if you offer a 25% bonus, then give it a $1,000 limit or whatever you can afford. In addition, adding other rules to protect your bankroll is also necessary. Such sportsbook promotion rules should include an end date to the promotion and of course a rollover. Obviously, there should be also be a limit of one per person. In some cases, like for a free play bonus, bookie can further protect themselves. This is done by adding a limit to how much a player can win from the bonus.
From there, you can usually see how much the bonus will cost with some simple math and assumptions. For example, if you send out 100,000 emails, about 30% will open the email. Out of those, about 10% will actually click on it. And from those, about 3% to 5% will open an account with you and out of those, arounds 8% will actually make a deposit.
Of course, these numbers will change depending on the promotion and the landing pages of the promotion. And last, if we assume 30% of these players will actually take a payout, then we can estimate more or less how much it will cost you. From there, it is just a matter of cost versus profit to see if it is a good promotion.
Use a Sportsbook Pay Per Head to Help Manage your Promotions
Making the sportsbook bonus is only the first part of a successful promotion. This is because managing the sportsbook promotion is also an essential part of it. We recommend using the PricePerPlayer.com Sportsbook Pay Per Head service to manage your promotions.
This is because PricePerPlayer.com has a complete sportsbook bonus and promotion platform to help you manage your player bonuses. In addition, they also have risk management tool to ensure you maximize your profits and lower your losses.