Betting Franchise Opportunities in the UK
The gambling industry in the UK is huge. Statistics show that between 2017 and 2018 the total gross gambling yield of the UKís gambling industry was £14.4 billion, a 4.5 percent increase from the previous year (Gambling Commission). Also, in that year there were 107,940 people employed in the industry. The gambling industry incorporates bingo, casinos, the lottery, scratch cards and amusement arcades, but one of the sectors with a long history in the UK is sports betting, which is the focus of this article.
There is a huge market in the UK for sports betting at bookmakers, also known as betting shops, and licensed websites or apps, the most popular being for football, greyhound racing and horse racing.
Betting shops have been legal in the UK since 1961 and there are now 8,500 in England alone. As well as there being many bookies where Brits can bet in person, a huge advantage of betting in the UK is our unrestricted online betting market. The British public can make the most of the majority of major betting shop franchisesí websites, as well as using the online services of bookies across the globe.
Things to Consider When Starting an Online Betting Business
Before committing to starting your own, itís important to understand that the gambling market is extremely competitive. In order to be a success, there are some helpful steps you can bear in mind.
- Do your research. The global betting and gambling industry is massive, but it can vary depending on the time of year. Your research can keep you up to date with when it is best to capitalise on it.
- Form a partnership with a gambling software provider. This is an important decision. Research providers that advertise quality back-end technology, a customisable front end, access to top-quality content, a single back office management tool and a variety of support services.
- Make sure you have all the licences you need. Before you launch your online betting app or website, it is paramount to have all the necessary licences. Every gambling jurisdiction is unique, so ensure to get to know the specific requirements. You must send an application to the commission of the country you wish to operate, receive assistance from the gaming software provider you are teaming up with and then you can operate under a white label solution licence.
- Market your brand. Advertise on any platform you can, whether that be online, on TV, in the newspaper, on social media or on the radio; it is vital to get the word out about your exciting new business. If you want to establish a large customer base and have a far reach, you need to dedicate time, effort and money into the marketing. But donít let this take all the focus away from producing great content and managing customer queries.
- Regularly update content. If you want your marketing strategy to be worthwhile, you need to ensure that your content is updated regularly and products are diversified to keep things interesting for a wide audience. For instance, if your main offering is a poker product, you may wish to mix things up a bit and offer a sportsbook. Therefore, try to gage an understanding of what that particular country wants, for example, which sporting events are most popular.
Betting Shop Franchise UK
A benefit of opening a shop-front style betting shop as well as, or in comparison to, online is the likelihood of an improved customer retention. When visiting a betting shop, loyal customers can share experiences and talk to others from their community, making them want to come back for more. However, the number of betting shops in the UK did reach over 17,000 at one point and this number has halved due to a surge in the internet and apps. For this reason, the majority of UK bookmakers operate online. Also, this could indicate that opening an online betting franchise could be a less risky business venture.
The Five Largest UK Betting Shop Franchises
Ladbrokes, Coral, William Hill, BetFred and Totesport combine to form 80 percent of the betting shop market in the UK. These operate some of the biggest and most successful online betting shops too. The largest betting franchise is William Hill which has 2,325 betting shops, then itís Ladbrokes with 2,119, then Coral with 1,629, then Betfred with 849, and finally ToteSport with 450. William Hill was founded in 1934 and has now grown to also be the USís largest bookmaker after its acquisition of three sportsbook chains: Leroyís, Luckyís and Club Cal Neva. Ladbrokes was established in 1886 and now employs over 14,000 people. Coral was founded in 1929 by Joe Coral. Established in 1967, Betfred purchased Totesport for £265 million in 2011, which means they own the fourth and fifth largest betting shop franchises. According to their websites, none of the five largest UK betting shop franchises are advertising any franchise opportunities; potentially to focus on their online offering.
Sports Betting Franchise
Tipbet is a sports betting franchise which offers industry-specific expertise, advanced technology and years of experience. Founded in 1995, the company is Malta-based, with the headquarters in Gzira. The business has primarily focused on the online market. However, there are branded shop-front betting shops run by franchisees. When becoming a Tipbet franchisee, you will be provided with ongoing support, from planning to day-to-day running. There are a range of bets on offer, with up to 10,000 live games a month and up to 30 different sports to satisfy the customer. For this reason, the company has a very loyal customer base. There is a great earning potential when opening a Tipbet shop, with scope to earn up to 85 percent commission.
Interested applicants need to be passionate about sports and sports betting, and have a start-up capital of Ä25,000. Head to the Tipbet website now to find out more.
Becky Martin, Point Franchise ©
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