Previously marketed towards a certain demographic of hobbyists, sports betting has since become more diverse than ever. However, the audience being more varied is one thing – reaching and targeting it properly is another.
Beyond using machine learning to automate the repetitive side of their business, sportsbooks can use this technology to overhaul their marketing, sales, and content functions. Sportsbooks can, for example, employ machine learning models to analyze customer journeys on betting websites, accounting for their betting patterns, preference for a sport or team, and appetite (or lack thereof) for risk and betting types.
Sportsbooks can then take that data and personalize a bettor's experience to reflect their preferences and personality better. The business can do things like placing banner advertisements and promotional content reflecting the bettor's background and values. Most crucially, they can also create personalized incentives to encourage customers to bet more. Or, in the case of churned or inactive customers, they can create incentives to bring them back to their business – and thus prevent them from switching to the competition.
With machine learning, the possibilities of what a sportsbook can do in terms of customer retention and marketing are nearly endless.