The sports betting industry has seen tremendous growth over the past years, with more and more people worldwide interested in placing wagers online and in brick-and-mortar shops. As consumers’ engagement grew to unprecedented levels, there has been a surge in new technologies and platforms that are making betting more convenient and accessible.
Sports betting kiosks are an excellent example of such tech. These physical machines allow users to place bets efficiently on sports events without needing to wait in line to talk to a teller.
As an investor or business owner who is considering launching a sports betting operation, you might wonder which business model to adopt: betting kiosks, online betting, or both.
OddsMatrix equips sports betting businesses with the data they need to operate the business model that best suits their needs and preferences. We offers a cutting-edge sports betting retail solution for the 21st-century landscape. Thanks to our omnichannel approach, we elevate our online-first platform to a true omnichannel betting solution, providing full and equal access to all services of the OddsMatrix platform, including bonusing and reporting.
In this article, we will explore the key differences between sports betting kiosks and online betting and examine what each brings to the table.
Sports betting kiosks are automated terminals that allow users to place bets on various sporting events. They are typically found in casinos, racetracks, and other locations where sports betting is legal.
To use a sports betting kiosk, the bettor typically needs to first create an account with a sports betting operator or platform. This can often be done online or at the kiosk itself. Once the account is set up, the user can then visit the kiosk to place bets.
To place a bet, the user typically selects the desired sporting event, selects the type of bet they want to make (e.g., moneyline, point spread, over/under), and inputs the amount of the bet. The kiosk will then calculate the potential payout for the bet and provide the user with a ticket or receipt that includes the details of the bet.
Some sports betting kiosks also allow users to check their account balances, view the status of their bets, and cash out their winnings.
Their positioning is the main difference between sports betting kiosks and online betting. While the first option enables bettors to place wagers in fixed locations, the second offers users more freedom, as they only need access to a website or an app. With online sports betting, bettors can place bets on the go, from their homes or offices, before or during the games.
Sports betting kiosks also have some limitations, such as a limited range of options and features compared to online betting. They may not offer the same level of flexibility or customization as online platforms, and they may not be able to support more complex or advanced betting strategies. They may also be subject to additional fees or restrictions, such as maximum bet limits or payout restrictions.
Online sports betting is placing wagers on sporting events using a digital platform and an Internet-connected device, such as a computer or a smartphone and it covers various options and features, like live-streaming, in-play betting, and virtual sports.
Platforms like OddsMatrix cover odds and fixtures for over 120,000 pre-live matches and more than 100,000 live matches per month.
Sports betting kiosks offer convenience, accessibility, and security. They allow users to place bets quickly and easily, without the need for a computer or internet connection. They also provide a secure and reliable way to handle transactions, and can be accessed by anyone who is 18 or older, regardless of their level of experience or familiarity with online betting.
Like any business direction, sports betting kiosks have their share of advantages and challenges, which sportsbooks operators need to understand and address for optimized results.
Sports betting kiosks offer several benefits for sportsbooks, with the biggest being that they may rely on technology and reduce the costs associated with human resources. Depending on your operational model, you may have a small team of trained professionals that helps customers place bets and answers their questions. This way, you can add a layer of control to your audience’s experience and ensure it respects your standards of personalization and quality.
Sports betting kiosks are also highly convenient and accessible to audiences that are less digitized or are not accustomed to making online transactions, thus enabling sportsbooks to reach a different pool of consumers.
Depending on your technical solution, kiosks can provide live betting options, enabling people to sit, watch games, and place in-game wagers.
When not in use, these fixed points may stream ads, and advertise existing competitions, or promotions, making sports betting kiosks excellent marketing and communications tools.
Moreover, sports betting kiosks offer a high degree of security in what betting and payments are concerned. Since compliance standards are automatized and streamlined, they may only be accessed by bettors of legal age in their respective countries.
Many new users consider sports betting kiosks easier to use than placing bets with a teller in a brick-and-mortar shop because it’s faster, and they don’t have to write down or remember the “rotation numbers.” Bettors also appreciate that they can use various payment methods, from cash to banking cards, prepaid sportsbook cards, winning tickets, or vouchers.
While they have several benefits, sports betting kiosks still pose challenges to bookies.
Compared to online betting, sports betting kiosks are considerably more limited, as they have fewer sports, competitions, markets, and features than their counterparts. This is particularly an issue for experienced bettors and those familiar with the practice who might have more complex and advanced betting strategies.
This is why sports betting kiosks are perceived as an entry point into sports betting, mainly a solution for entry-level casual bettors.
However, by choosing OddsMatrix, bookmakers who own sports betting kiosks are able to provide the same betting offer, including disciplines, tournaments, events, markets, outcomes, and even odds, across all channels, including retail.
Nowadays, bettors cherish personalized experiences that make placing wagers easier and fun. Targeted promotions, relevant suggestions, customized discount codes, and notifications – all add value to the relationship between bettor and bookie.
Sports betting kiosks are limited in these regards. Usually, these terminals cater to many users, offering mainly standard answers and marketing messages, making the bettor’s experience significantly more sterile, less engaging, and less appealing. Thankfully, with the OddsMatrix omnichannel solution, bookies have access to the same level of customization as online betting, thus removing the limits mentioned above.
Similar to ATMs, sports betting kiosks are often subject to conditions, as most have limits for maximum betting amounts and payouts. This means that bettors don’t have complete freedom, which might often generate frustrations.
Most bookies perceive online sports betting as a better business option than sports betting kiosks. This is mainly because online sports betting is a business vertical, while kiosks are seen as a means to enhance and add exposure to an existing operational model. Still, there are a few more reasons why the world’s top sports betting companies focus more on online sports betting than on kiosks.
The possibility to bet on a team in the local bar or train station is great, but real betting fans want access to wagers at all times, no matter where they are. This is why websites and apps are significantly more popular with bettors than kiosks.
In this context, bookies that want to expand their audience pools and not be limited by brick-and-mortar spaces see significantly more potential in investing in an online sports betting business. Operating 24/7 and targeting people regardless of location or lifestyle enables bookies to expand their horizons and generate more turnover.
Many sportsbooks consider online sports betting easier to manage. This is because their websites and apps benefit from administration panels and third-party dashboards that enable them to see all bets, account activity, and odds in real time.
By enjoying complete visibility over metrics and access to KPIs, bookies know precisely how their business is performing and what transactions are being made, thus making it easier for them to protect their brands from fraud and operational issues.
OddsMatrix’s back-office application helps sportsbooks to customize payouts, from sports to market level, follow the payout of relevant competitors for selected markets, manually tweak and improve odds according to the market’s moves.
While kiosks offer a limited number of sports, competitions, and markets, the sky’s the limit for online sports betting brands. Digital bookies make their portfolios as impressive as possible to attract bettors, drive traffic, and generate additional revenue.
OddsMatrix offers sports betting brands access to over 70+ traditional sports disciplines and 23 esports titles. Our services cover almost 15,000 sports competitions, over 1,000,000 sports live events/year, and 913,000 sports pre-live events/year.
Online sports betting has a degree of customization that can’t be equaled by sports betting kiosks. Websites and platforms use marketing pixels to understand user behavior and put out personalized messages and ads that respond to each bettor’s needs.
Online sportsbooks create promotions, discounts, and special referral codes that align with their users’ betting habits. This approach enables sports betting companies to retain customers, generate word-of-mouth and increase the time spent on their websites or platforms.
Sports betting kiosks and online betting are two different approaches in the sports betting business. Each comes with its benefits and drawbacks, so it’s important to understand them before making a choice.
While sports betting kiosks are convenient, accessible, and secure, they may not offer the same range of options and features as online betting platforms, thus limiting the bookies’ audience to passers-by and people located in the proximity of each terminal.
Online betting, on the other hand, provides a broader range of options and features. Still, it is only dedicated to those who are familiar with using technology. A sportsbook operating online will not address the needs of less digitized users who don’t have access to a constant, reliable Internet connection.
As a sportsbook, you might need help choosing between sports betting kiosks and online betting, as they are often complementary sides of a business that enable companies to provide services to heterogeneous audience segments. Before you decide which way to go or how much to invest in each vertical, we advise you to assess your resources, understand your audience, and set clear, reasonable objectives and KPIs. Only by doing so will you increase your chances of making the right choice.
No matter if you’re a retail betting business or an online one, OddsMatrix is your trusted partner across all channels. Our company has experience working with Europe’s biggest iGaming brands and operating brand launches and migrations across the USA, Europe, CIS, and South America.
Contact us, and we’ll show you how we can take your sports betting business to the next level.