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The basis of any sportsbook referral program is to encourage your customers to spread through word-of-mouth the services you're offering as a bookmaker or sportsbook owner.
Word-of-mouth referrals typically make up anywhere from 20-50% of most purchasing decisions.
Most buddy referrals offered by sportsbooks are not a result of good will but rather gaining something in return.
Learn How to Create a Bookie Referral Program
The best program will be one that incentivizes your happy players to share how great your bookies service is for a small gift. It's interesting to note that affiliates are key to most sportsbook businesses and it is not in their best interest to push a buddy referral being that the person initially credited with the conversion is the party that typically benefits from a buddy referral, not the original affiliate. As such, operators will want to find other means of getting the word out about friend referrals.
According to a Harvard study, researchers found that customers obtained thru referrals were more loyal and more valuable than other customers.
The Types of Awards That Should Be Offered
Reward Tiers are typically the most cost effective for your business.
Here is one example: Assume a player brings you 10 customers or less in a month, they get $25 in free bet for each player. If they bring over 10 players, then they get $50 per referrals. However, just keep in mind that you need to have a good set of rules in order for your Bookie Referral Program to be a success.
This is necessary in order to protect your bookie business as well to make sure no one takes advantage of the generous giveaways. You must provide a rules section on the site that clearly states how and when one is eligible for the referral as well as the way it is to be paid out. An active wagering time frame and maximum bet rollover should be considered.
Advertising your Referral Program
As noted above, your affiliates will not be benefiting from buddy referrals in most cases.
Once your sportsbook referral program is in place, you have to let your players know about it by other means. The best way to do that is by advertising it on your website or by sending out emails. However, keep in mind that you want to have eye-catching material that clearly states the advantages of referring their friends.
Tracking Referral Awards
By using the PricePerPlayer.com Bookie Pay Per Head Service, you will be able to ensure your players get their referral rewards on time. Adding bonuses and giving cash to players is very easy to track using specialized software features that are available no extra charge courtesy of the PricePerPlayer normal Pay Per Head package!
- Aaron Goldstein, Gambling911.com
