The last year or so has seen the rise and massive popularity in enhanced odds and price boosts. Bookmakers have sought to win over new customers, enticing them in by offering ridiculously good and inflated odds on specific events and markets, usually the more popular and prominent sporting fixtures. The big enhanced odds promotions are for the most part aimed at new customers only, however a big portion of bookmakers also offer regular and daily price boosts and enhanced odds to there existing customers which are nowhere near as aggressive in their mark up on price. With these normal offers, customers can expect to gain an extra point or 2 at best, compared to new customer offers where the boost can be multiplied by anywhere between 3-5 times the normal odds ( not uncommon to see normal odds of 4/1 boosted to 18/1 ).
This new wave of promotions has certainly left a mark on the sports betting industry and shows no signs of slowing down. However, yesterday marked an even more important date in relation to incentivized betting odds as Pokerstars newly branded sportsbook, Betstars which only launched at the back end of 2015, launched an exciting new betting product on their site called Spin & Bet.
Spin & Bet, which takes its name and inspiration from the extremely popular Spin & Go poker format that launched just over a year ago on PokerStars, gives sports bettors the chance to see their potential winnings multiplied by up to 10 times the original amount.
"We're really excited by the launch of Spin & Bet, which we believe is set to be the game-changing innovation in sports betting this year," said Guy Templer, Director of Group Business Development and Strategy. "We're convinced our customers will love the new product as it brings a new and exciting dimension to betting for sports fans around the world."
HOW DOES SPIN & BET WORK?
To use the new Spin & Bet feature, bettors simply choose their bet from the available markets, enter their stake, and click 'Spin & Bet'. The bet will be placed and an animation will display the potentially enhanced winnings, with the result being one of five multiples: 1x, 1.5x, 2x, 5x or 10x. When playing Spin & Bet, 10% of the bettor's stake goes towards enhanced winnings jackpot.
Giving how popular enhanced odds have become with both bookmakers and punters alike this move by Pokerstars to mirror their hugely successful Spin & Go format into betting seems a very obvious and sensible move. You would image that punters will jump at the chance to increase their winnings on any normal bet by up to 10* by simply only losing a fraction of their stake. Essentially this new format adds another thrill and buzz on top of your existing bet, something that is likely to draw customers in even more. What’s even better is that this new product will be available to use for ALL customers.
Full Tilt first introduced Rush Poker, a new poker variation back in 2010. It was designed to increase the number of hands a player can play and hour and was a huge success. It didn’t take long was other poker operators and networks alike to introduce similar concepts in ‘Speed Poker’, ‘Snap Poker’, and ‘Fast Poker’ to name a few. Rational Group, the company behind Pokerstars, Full Tilt and now Betstars is known for innovation in the gaming space. This new product Spin & Bet is another new and innovative feature which is likely to ‘change the game’ for betting and it will be no surprise to see the other big operators sit up, take note and introduce there own variation of Spin & Bet to their customers in the future. I would boldly predict that by 2017 every major online Sportsbook will have either launched or be looking to launch a similar product to other their customers and enhance the way punters look to bet!
From a bookmakers perspective it also introduces another form of gambling into the online sports betting sector, something that is likely to appeal to operators who are always looking and interested at cross selling their customers onto other gaming verticals such as online slots or casino.
Spin & Bet creates a new blend between betting and gambling, introducing a gentle and subtle slots element into betting, giving bettors the chance to increase their winnings by offering lucrative and boosted odds.
Expect to hear a lot more about Spin & Bet as it is likely to form the focus of an international marketing campaign, including a significant TV presence, to launch the BetStars brand over the coming months. Try it out here and see if you can boost your winnings with some big odds!