Live streaming is often considered a must-have for sportsbooks, particularly for larger operators competing on the global stage. It makes sense for them—they generate the revenue to justify the investment.
But for smaller operators, the situation is very different. Live streaming can be a costly endeavor, with expenses surpassing £30,000 a month.
The real question for smaller sportsbooks is: Does the investment justify the return?
If you’re a smaller operator, it’s worth stepping back to analyze the numbers carefully. Those selling live streaming services will likely tell you that you need it because your competitors have it. But is that necessarily true?
What if you took a different approach and used that money to enhance other areas of your business? The investment in live streaming might not be the best use of your resources.
At Bet Data Consultants, we recently worked with a client facing a streaming dilemma. Many within the business insisted that streaming had to remain in place, fearing it would reflect poorly on the company and cause financial harm if removed.
After conducting an independent review of all their contracts and expenses, we provided unbiased data analysis. While there were concerns that removing the streaming service would weaken the product, the numbers simply didn’t support keeping it.
We advised that the funds could be better allocated to improving the product in other areas. The business took our advice and removed the streaming service, with no negative impact on their sportsbook performance.
The key takeaway here is that just because everyone else is doing something doesn’t mean you should. Let your data guide your decisions, not predetermined biases.
This is the only way to thrive and survive in an increasingly crowded and expensive marketplace.
This experience isn’t unique. We’ve seen similar patterns with many other businesses. Before committing to an expensive commercial contract, it’s essential to evaluate your individual business goals and not just blindly follow the crowd
Sometimes, going against industry norms can provide a strategic advantage by reallocating funds to other areas of the business that can have a greater impact.
At Bet Data Consultants, we offer free independent analysis of every aspect of your sportsbook business. Our expertise helps clients identify areas that may be underperforming, and we provide data-based, actionable insights to enhance your operations.
If you want to see why so many businesses in the iGaming industry are partnering with us, reach out for a free consultation today.
Contact us on LinkedIn or email us at info@betdataconsultants.com for a free consultation today.
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