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Lecture with Will Armitage - Updates and Insights on Bestodds and iGaming Industry

Jul 15, 2024

Lecture with Will Armitage - Updates and Insights on Bestodds and iGaming Industry

Introduction

  • Speaker: Tim Pool, Editor of Gambling Insider
  • Guest: Will Armitage
  • Discussing updates and insights related to Bestodds, iGaming, and affiliate marketing.

Updates on Bestodds

  • Timeframe: Website live for 16 months
  • Achieved profitability: Milestone passed
  • Growth ambition: Plan to scale and become dominant in the market

M&A Activity

  • Recent acquisition: Acquired BetPrep, a US-based platform
    • Founded ~2.5 years ago by a financial analyst/trader
    • Features: Research hub, products, tools, backtesting
    • Plan: Integrate and rebrand under Bestodds, build a subscription model
    • Target Audience: US bettors of varying knowledge levels

Industry Insights and Trends

  • M&A in the affiliate world: Increased activity among major players
    • Example: Potential merger discussions between Better Collective and Katina Media
    • Perspective: Importance of forging an independent path while acknowledging industry giants

Micro-betting

  • Will Armitage's Views: Skeptical about the long-term viability
    • Past experience: Online trading and binary betting
    • Concern: User fatigue due to constant engagement
    • Analogy: Comparison with other industries
    • Counterpoint: Proponents excited, potential initial profit surge

US Market Focus

  • Macro vs Micro-betting: Debate on user retention and acquisition costs
  • Current challenges: Heavy upfront acquisition costs, understanding LTV (Lifetime Value)
    • Historical context: Similar models in online trading
    • Affiliate perspective: Reliable and auditable customer acquisition

Future Projections

  • 2023 outlook: Continuation of current trends
  • Key topics: Legalization in new states (California, Florida, Texas)
  • Bestodds Goals:
    • Integrate BetPrep
    • Enhance user destination experience
    • Expansion plans
    • Lobbying for lower tax rates in New York

Conclusion

  • Summary: Discussion on Bestodds progress, industry mergers, micro-betting skepticism, US market challenges, and future goals
  • Closing: Dealing with regulatory challenges and ongoing industry changes

Note: This summary encapsulates the key points from the lecture including updates on Bestodds, industry mergers and acquisitions, views on micro-betting, US market focus, and future projections.

Full transcript