Poll results: Operators should explore financial betting opportunities
eGR readers say more egaming operators could benefit from expanding into the financials vertical
More operators should follow Playtech’s lead by making a move into financial betting, according to the majority of respondents to this week’s eGaming Review poll.
Last week Playtech moved to acquire retail CFD trading company Plus500 for £459.6m, and 62% of readers said similar diversification could benefit other operators searching for new growth markets.
Firms including William Hill and Betfair already offer customers some financial markets, but with competition in sports betting and casino tough, and with poker in decline, new verticals may be worth exploring.
Opportunities to cross-sell and open up new demographics are surely appealing to major operators, especially during a summer without a major international sporting event.
However, 38% of readers cautioned against making a move into a vertical which requires significantly more investment than well-established products, such as bingo to casino.
With Playtech CEO Mor Weizer describing the acquisition of Plus500 as “transformational”, adding that he expected Plus500 to be immediately earnings enhancing for the business, those considering the leap will be keeping a close eye on its performance.