The rebranding of SBC Summit North America from Betting on Sports America (BOSA) skews a few different ways. But one of the most important elements of the name change by the London-based gambling event organizer is due to the changing gaming landscape, especially the increased popularity of igaming.
“We have seen that (igaming) really grew in the US over the last couple of years,” says SBC CEO and founder Rasmus Sojmark. “We just feel that Betting on Sports America will really benefit from including the option of igaming into the mix as well, to have broader coverage on the content side and also bring in people to meet suppliers from the igaming side. “
SBC Summit North America is scheduled to take place Nov. 30 through Dec. 2 at the Meadowland Exposition Center in Seacaucus, New Jersey. Another event, SBC Digital North American, an online conference and expo, will occur June 9-10.
Rasmus says the opportunity to bring together sports betting and igaming suppliers at one site will be beneficial to operators and stakeholders as both gaming interests are on the upswing. The rebranding also ties into other company events, including SBC Summit Barcelona and SBC Summit Latino America.
“We already cover the European side and Latin America,” Sojmark says. “And now with the SBC Summit North America, we also cover very well into the North American market. It kind of made sense to grow North America into our key brand.”
Moving the SBC Summit to later in the year from its original June date is partially due to the effects of the COVID-10 pandemic, and the hope that conditions will be safe for travel and meetings. It’s also recognition that live events, and the opportunities they provide to forge relationships, are still preferable when possible.
“It certainly is important to be there in person,” Sojmark says. “It’s difficult to facilitate that same experience on camera.”
He adds that for branding, exposure, and awareness, virtual events can provide opportunities “at a fraction of the cost. I think it’s absolutely worthwhile for sponsors.”
Virtual conferences also provide templates for how to organize, create and consume content.
‘There are things you can learn from this and apply to how you cover your conference sessions at your physical event,” Sojmark says, “and make sure there are ways your audiences can much more easily consume the same amount of content in a more efficient way.”
SBC Digital North America in June will act as a bridge event to the December conference. Sojmark says SBC didn’t want to wait until year’s end to tackle igaming and sports betting issues.
“You need to lay the foundation early on, and you need events like SBC Digital North America to address this on an ongoing basis,” he says. “There’s just so much to learn about.”
Sojmark is especially bullish on the North American market. Even though it’s a smaller market in term of the number of operators, he thinks that possible partnerships with sports teams, casinos, and other entities make it extremely promising.
“It’s so exciting to see a market we’ve been waiting on and hoping for would be regulated for so many years,” Sojmark says. “It’s happening and growing at a great pace. We see great partnerships and many companies and sectors engaging with one another.”
With igaming revenues expected to increase, and with more states considering the legalization of sports betting in 2021, there are plenty of opportunities for operators. Sojmark acknowledges that established companies such as DraftKings and BetMGM have advantages in marketplaces.
“They will grow and they will have the power to get licenses and do the right partnerships,” Sojmark says. “It takes a lot of work, it takes a lot of investment, it takes a lot of understanding of regulations in every state.”
But operators with a sense of the North American market who can build sound partnerships will also have a chance to thrive.
“You just have to be smart around partnerships,” Sojmark says. “I think your understanding of how to build a business that can scale into different states, along with being good at predicting certain timelines and all that, I think you’ll have opportunities. You just need to be smart, do your research and be able to get the right partners. And who those partners are, I don’t think anyone knows.”
