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The wagering industry is one of the most cutthroat businesses in the world, with competition for the gaming dollar (or euro or peso or pound or a hundred other currencies) as fierce as it gets. More often than not, SBs are competing for the same finite amount of a customer’s wallet. This is due to customers holding multiple accounts across different operators and the only real differentiator being the prices on offer. Several sports books in countries like Hong Kong, Macau and Singapore have government controlled monopolies that attempt to censor outside sports betting websites, but with the proliferation of virtual servers and remote desktop access, punters have grown sophisticated enough to circumvent these restrictions.

Furthermore, the margins that a sports book is able to operate under are becoming tighter and tighter. In light of this, sports books need to be smarter with how they deal with their customers and, more particularly, with the markets they offer. The smallest mistake in price setting or non-attentiveness to markets can result in large, unexpected losses. With margins as tight as they are, any mistake that can be avoided should be. Developing an approach that ensures the right risk is being accepted should also be fostered.

Currently, sports books aren’t be focused on the kind of automated approach that BetWatch can deliver. Traditionally, bookmaking is a very ego driven business, abounding with all kinds of opinions as to what is going to happen. It is also an industry with bad customer service, i.e. winning customers are often unwelcome, and, more often than not, are told they can take their business elsewhere. The advent of BetWatch came about to empower a SB with the ability to take an approach that all business is welcome as long as it is on the terms of the SB. This approach has the added advantage of being a public relations winner for the operation, as they become known as a place where any customer is welcome rather than being a place where someone’s business is unwanted.

As gamblers are creatures of habit, the betting patterns of a customer will be consistent and robust and this pattern of behavior is what is being harnessed to identify the segments of customers that should be allowed to take a smaller proportion of accepted risk (on a particular event). The flip side being that there will be customers who should be allowed to take up a larger proportion of the accepted risk.

If this information is harnessed correctly then it can become a very important competitive advantage and this is what BetWatch delivers. Business events are processed in real time, enabling the sports book to make faster and more informed decisions across the entire spectrum of the business. This enables the most effective and strategic outcomes with regards to compliance management, risk management, customer engagement, problematic customers, and marketing.

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