The Offline Betting Landscape is as Relevant as Ever
For betting enthusiasts and operators, the internet has become a powerful resource, enabling players to interact seamlessly with sporting events worldwide.
However, there’s a catch, as brick-and-mortar bookies seem to have become increasingly distinct from their online counterparts. How much of this is true though? Is the offline world still as integral to the overall wagering experience as it has always been? The answer is, of course, yes.
Casino Cage
The combined services of online and offline sportsbooks have allowed the iGaming industry to expand in some unexpected ways. For instance, while bookmakers on the internet are renowned for offering a range of payment processors, including standard plastic, PayPal and Skrill, and even certain cryptocurrencies, integration with high street outlets means that companies can take this one step further.
Source: Pexels.
In the UK, players are able to fund their online accounts by handing over cash at a bookmaker’s physical location. While this is (usually) a free service with no delays, it does come with some drawbacks.
As an example, people who make use of this facility, because they don’t have a bank account, are likely to have lower withdrawal limits applied to their betting accounts.
This kind of scheme is much more advanced in the United States, where major casinos let players make deposits at the casino cage. The need for some online operators to have an associated physical location in order to operate legally is arguably why US punters have greater access to this payment facility. The downside is that enrollment in a casino or sportsbook’s loyalty scheme may be required.
Book-a-Bet
Inevitably, iGaming platforms have attempted to streamline the relationship between online and offline bookmakers. Sportingtech, a company that offers combined casino, sportsbook, and retail betting software, provides ‘book-a-bet’ functionality to operators.
This feature allows players to create a bet slip online but place the wager in a store, once again, letting people take advantage of different payment options.
Source: Pexels.
This kind of turnkey retail betting service is an attempt to elevate the position of high-street bookmakers, which have been returning to a stronger position following a period of decline. Auditing company PwC discovered that, in 2021, almost all categories of retail (including betting) had experienced a slump in the number of physical locations in operation but that the closures were at their slowest rate since 2017.
PwC added that the disappearance of betting shops from the high street was likely a consequence of technological change. While its ‘Store Openings and Closures 2022’ report didn’t elaborate on why, we’ve already mentioned the likely culprit, namely, growth in the online industry. Oddly enough, this particular part of UK commerce has been buoyed recently by the appearance of websites serving US states like Maine, Kansas, and Massachusetts, as many of the operators are the same.
It’s probably fair to say that brick-and-mortar betting locations will live or die with the rest of the high street, potentially reducing opportunities for offline bettors. In better news, with the internet producing new bookmakers all the time, it’s easy to see where fresh growth could come from.