MaxBet experienced +400% growth in pay ins with engaging live streaming content

Background

Originally founded in 1997, MaxBet is now widely recognised as one of the leading gaming companies in the Balkan region. With more than 2,500 employees, MaxBet is fully licensed to operate its more than 400 online and retail betting shops in Serbia, Montenegro and Republika Srpska.

What started as a primarily retail operation quickly grew into something much larger. Over the years, MaxBet garnered a reputation as an industry-leading operator in Europe. By 2016, MaxBet launched online gaming to its customers.

Challenge

MaxBet didn’t get where they are today by waiting patiently on the sidelines. By keeping a watchful eye over the industry, they’re able to spot betting trends and opportunities as they appear. That’s how they knew that live sports streaming would become more important than ever before with mobile devices improving their capability, WIFI being available almost everywhere and sports entertainment and betting “moving together” more and more.

To seize the opportunity, MaxBet needed a solution that helped them increase live betting engagement relative to betting overall. But they also wanted a way to consistently grow their customer base through a better end-user experience. Luckily, they already had a partner they could trust to deliver both in one solution.

Đorđe Milidžan,
Marketing Director, MaxBet

Solution

“We have a long-term cooperation with Betradar and the products they offer, and LCO is definitely one of them that simply could not go unnoticed.” says Nenad Aleksić, Head of Online Sports betting at MaxBet about the decision to work wit Betradar.

As a long-standing partner of MaxBet, we were able to quickly integrate our Live Channel Online (LCO) product and start delivering it to their customers in 2017. They gained instant access to the gaming industry’s largest streaming portfolio of over 280,000 unique events every year.

That portfolio includes premium content that MaxBet’s European customers are most interested in, such as Bundesliga soccer, the NBA and the NHL. But it also includes many other sports and lower-tier leagues. Handball, volleyball, table tennis, just to name a few, from many different countries and time zones.

When being asked about interesting developments in the user experience Nenad Aleksić mentioned “Table tennis has become one of the most interesting sports for our users … with a large number of events covered by LCO, we have provided our customers a complete experience.”

LCO provides MaxBet customers with hundreds of live streams every week that cover the entire spectrum of fan interests. That means the operator gains 24/7/365 coverage of the leagues, teams, events and tournaments that their bettors are most interested in at any given time. They’re able to serve customers round-the-clock content that stimulates live betting engagement.

Importantly, LCO isn’t only a core part of MaxBet’s live betting operation, but is also an effective marketing asset. LCO plays a significant role in acquiring and retaining bettors through their annual promotion plan. Likewise, the sportsbook is introducing customers to LCO’s many premium events by periodically promoting their live stream coverage throughout the year.

Results

MaxBet customers quickly realised that live streams brought them closer to their favorite events than ever before. It wasn’t long before MaxBet started seeing tangible results.

With the introduction of LCO, the number of bets on player performance has increased – especially for leagues like the NBA, where MaxBet regularly records double-digit streaming figures (17 GB of traffic per event on average). Even the Venezuelan Soccer League consistently performs well with 4 GB of traffic per event – an indication that MaxBet’s customers are engaging in content less popular in their region with non-bettors, who do not have access to live streams from those leagues.

Overall, MaxBet is witnessing a significant boost in live betting engagements across the board. Since implementing LCO, they’ve experienced a 406% increase in live betting pay-ins for the Bundesliga alone. For that same league, LCO has also helped raise the number of live betting tickets per season over 235%.

LCO’s diverse portfolio of content is enabling MaxBet to grow their reputation as a leader in online sports betting for their markets of operation. With their eyes still watching closely over the industry, they look forward to adding more LCO content, such as esports, to provide an even better customer experience.

Aleksić’s conclusion: “Stability and reliability: That is what we are used to from Betradar and what we get during all these years of cooperation. LCO is no exception.”