Snapchat highlights opportunities for sportsbook and prediction market ads

Snapchat says that it’s a top destination for gambling promotions, which, given its focus on teen users, seems more like a potential concern than a selling point.

Nevertheless, according to the platform’s latest research report, Snapchat can connect sportsbook and prediction market brands with a captive audience, which can help to boost promotions and drive more engagement with their ads.

Snapchat partnered with Alter Agents to conduct a survey of more than 1,000 users above the legal betting age. The data showed that Snapchat can drive value for sportsbook marketers with a range of opportunities to reach engaged bettors.

As per Snapchat: “Monthly U.S. bettors are 1.4x more likely to be daily Snapchatters compared to the general population aged 21-44. And when it comes to prediction markets and sports betting in particular, Snapchat bettors are more likely to be regularly placing bets compared to non-Snapchatters.”

The data also showed that Snapchat users are actively planning their bets in the app. They’re also more likely than non-users to be monitoring live updates and discussing betting strategies.

Indeed, according to the data, 59% of Snapchat bettors reported feeling more confident about the wagers they’d placed after discussing them with their inner circle on Snapchat.

What’s more, the company said, “Snapchatters on average invest 1.6x more every month in the bets and wagers compared to non-Snapchatters.”

The data also showed that Snapchatters are active users of multiple prediction markets and research options, highlighting the opportunity to reach them with relevant promotions.

In terms of Snapchat-specific notes, the data also showed that creators are a key source of betting insight in the app, with 73% of Snapchat bettors indicating that creators actively influence their betting app selections.

Snapchat promotions also drive action, with 50% of Snapchat users downloading a betting app after hearing about it on social media.

Based on these insights, Snapchat said that betting marketers can win on the app by targeting major events and tournaments. The data showed that 75% of Snapchat bettors make larger bets during major events than they do during the regular sports season. Meanwhile, 71% of Snapchat bettors are more likely to try a new betting app, and are 1.4x more likely to take action after seeing a sportsbook ad compared to non-Snapchatters.

Finally, Snapchat highlighted the word-of-mouth value of its app, with 1 in 3 Snapchat users likely to message their inner circle about key opportunities.

These are some valuable insights that could drive more interest among gambling-related brands, assuming these promotions don’t accidentally reach the wrong age demographic.