Social Betting Marketplace BettorEdge Achieves 75% User Retention, Surpassing Industry Average Retention Rates Minneapolis-based start-up attributes high retention to social experience, no-fee betting, and fair prices
BettorEdge, a no-fee social betting marketplace connecting sports fans, announced today it has achieved a 75% user retention rate in its first 18 months of operation. Three-fourths of users stay on the BettorEdge platform after completing their first order, far above research that shows an average of only 40% after a customer first downloads a mobile app. [Apptentive]
As of June 2022, 36 jurisdictions have passed legislation legalizing sportsbooks. BettorEdge retains 75% of its users in states where sportsbooks are not yet legal, and 72% in states where they are available. BettorEdge’s social betting marketplace is qualified to be live and legal in 45 states because there is no fee involved.
“Our data shows that sports bettors are craving a different experience that the sportsbooks aren’t currently providing,” said Greg Kajewski, Co-Founder of BettorEdge. “Bettors want social interaction, transparent pricing and the option to give back to people in need. BettorEdge combines all of those aspects in an easy-to-use app.”
The sports betting boom in the past few years has betting operators placing greater significance on retaining valuable users, but it is proving more difficult as bettors are “promotion hopping” and the well-known fact that bettors only choose one or two operators to use in the long-term. BettorEdge has cracked the code by offering a more equitable betting experience.
“BettorEdge’s community is strong and growing. We experienced a 750% increase in order volume from 2021 to 2022 during the NCAA tournament,” said James Seils, Co-Founder of BettorEdge. “We have plans to expand our features and make the experience even more engaging ahead of football season, including a discover feature that will show users personalized orders, events and posts based on past activity.”
Since launching in January 2021, BettorEdge has grown to a community of almost 11,000 users who have bet $36 million in orders collectively. On the platform, users are shown what they saved in fees on each order and are offered the opportunity to donate that saved fee to one of BettorEdge’s charitable partners. To date, one-fourth of users have donated and earlier this year, BettorEdge donated $10,000 to Chad Greenway’s Lead the Way Foundation.
BettorEdge was founded in 2019 following a University of Minnesota Sportradar Innovation Challenge. Iowa native founders, now Minnesota residents, had a vision of creating a more efficient sports betting marketplace that offered a better fan experience at no fee to the consumer within the US. BettorEdge has a strong emphasis on giving the edge to the bettor through offering a fair market, providing data and analytics and creating a seamless social community. Access to their webapp can be found at app.bettoredge.com and additional information at BettorEdge.com.
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