How to Build a Comprehensive Bookie Referral Program

How to Build a Comprehensive Bookie Referral Program

In this article, we will teach bookies How to Build a Comprehensive Bookie Referral Program to increase their player count. Like any other business owners, bookies want a successful sports betting company that will allow them to make a living. While there are several aspects of having a financially successful sportsbook, it all comes down to having lots of customers.

There are several marketing strategies a bookmaker can use to acquire new customers. These include social media marketing, Pay-Per-Clicks, videos, email campaigns and more. While these methods are proven to be effective, the most efficient method is using of a bookie referral program.

What is a Sportsbook Customer Referral Program?

A sportsbook Customer Referral Program is a type of advertising campaign that relies on word-of-mouth advertising. It is done by giving current customers an incentive to refer their friends and family to your sportsbook.

The incentive will vary from bookie-to-bookie but in most cases, it is in the form of a free-play or cash reward for referrer.

Challenges of Acquiring Players for a Bookie

Challenges of Acquiring Players for a BookieIt would not be an exaggeration to say that players are the lifeline of any bookie business. This is because they make money by charging a commission for every wager they make. Therefore, the more players they have, the more money they can make.

However, the challenges lie in how to acquire more players when the competition is so fierce. In the U.S. alone, they are over 50 sportsbooks that are currently in operation. Furthermore, these sportsbooks are multimillion dollar operations making it difficult for smaller sportsbooks to compete. In addition, there are hundreds of offshore sportsbooks that attract new customers by giving them crazy bonuses and promotions.

Needless to say, it is very difficult for a bookie to compete against multi-million-dollar sportsbooks. Let’s face it, a bookie business is like a mom-and-pop grocery store trying to compete against Wal-Mart, Kroger and Albertsons. They just do not have the financial power to compete against sportsbook giants.

For bookies, acquiring players is even more challenging because most of them value their privacy and that of their players. They are not looking to become famous. Instead, they just want to make a quiet living while doing something they love. Therefore, they must find ways to advertise their sports betting services without bringing too much attention to themselves.

Reasons to Start a Sportsbook Referral Program

Reasons to Start a Sportsbook Referral ProgramBookies are not able to compete and advertise on a level playing field against large gambling corporation. Instead, they must focus on acquiring players on a local level and compete by giving better and more personalized services. The only thing they have going for them is that they can become a credit bookie instead of a post-up bookie.

This is where the starting a sportsbook referral program comes in. This is because people trust the opinions of their friend and family members more than reading an online review. In fact, leads from friends and family are 2 times more likely to convert than leads from other marketing efforts.

Therefore, it is only natural to want to incentivize your existing players by setting up a referral program for them. Thus, the best way for bookies to overcome these challenges is by using and creating a referral program.

In addition, a bookie referral program meets the all of the basic strategies for a successful business:

  • Keeping the cost of advertising to a minimum
  • Having a higher conversion rate
  • Giving their players a more personal experience.

Steps to Build a Comprehensive Bookie Referral Program

Steps to Build a Comprehensive Bookie Referral ProgramStep 1. Defining your Goals and Expectations from the Referral Program – This is where you decide what you want to get out of the referral program. Are you trying to reach a certain number of new player or are you looking to simply increase your betting handle? Different goals will require different approach to how you create the rules of your referral program,

Step 2. Determine the Incentives and Rewards for Your Referral Program – First, you must determine what you can afford to reward your players for referring someone. Too much and you might go bankrupt. Too little and no one will want to participate.

A good idea is to look at the competition and see what they offer as a referral bonus. From there, determine if you can afford to do it.

Step 3. Create Rules for you Sportsbook Referral Program – Rules are important as it defines to your players exactly how the program works. In addition, having set rules will keep players from finding loopholes that could seriously hurt your business.

This includes rules like limits and qualification for someone to count as a referral.

Step 4. Make It Easy for Players to Refer You – First, you need to have a page on your site that clearly outlines your referral program. Second, you need a way to keep track of the referrals so players know that their referrals went thru.

If you are a small bookie operation, its pretty easy to keep track of the referrals since it involves a lot of word-of-mouth. However, for larger bookie sites, having an actual software for your referral program is ideal.

Step 5. Promoting your Bookie Referral Program – If you use a top sportsbook pay per head to run your bookie business, then you have access to a client messaging system. Therefore, simply send all of your player a message letting them know about it!