Sports-betting data has become a Golden Goose.
Its proliferation matches explosive mobile-betting growth, particularly in the United States. American gamblers have already exceeded $60 billion in sports wagers, giving operators profit of more than $4 billion since 2018, with only a fraction of the market tapped.
In-game betting, which has grown by about 400 percent in the U.S. according to industry analysts, spearheads the revenue charge. Who can resist the imminent result of an at-bat, golf hole, NBA over-under totals and NFL betting odds?
Data has elevated the stakes of interested parties.
Bettors—especially beginners—utilize it to gain relevant statistical information, much like they would use the Daily Racing Form in the horse-racing world. Operators drive business by feeding the appetite of players who want action on every play—a game-within-a-game, multiplied countless times in one gambling session.
Vendors supply the operators, especially those who don’t have the resources to change odds or run their own books.
Big money unites them all.
Playing up PlaySports
Sports data has become a significant vehicle for IGT, which built an entire team around its dissemination.
IGT PlaySports is a sports betting platform technology division with in-house manufacturing capabilities, and a provider of sports betting support services to help operators build and manage their own sportsbooks.
PlaySports is anchored in the company’s osmnichannel platform technology that supports online, mobile and retail channels like over-the-counter betting, or self-service technology, such as kiosks and tablets. The solution is highly scalable to suit the needs of operators of any size, and is bolstered by a range of services such as Trading Advisory Services, Content Services and more.
Operators leverage PlaySports technology in different ways. Boyd Gaming used the PlaySports tech stack to power its entire sports betting enterprise in Nevada. The Mill Casino in Oregon used the PlaySports platform for retail only. In Mississippi, Pearl River Resort leverages it for retail and on-premise mobile. Maverick Gaming’s casinos in Colorado use it for retail and statewide mobile. Circa Sports in Colorado utilizes it for mobile only.
IGT is a one-stop shop in providing a turnkey sports betting solution. The company also provides trading advisory services and can be a casino’s sole technology provider, an attractive asset for small to mid-sized operators.
The role of IGT in this space becomes more significant considering the looming growth potential. In-game betting has just begun to infiltrate the American market, but it’s happening rapidly, as customers discover the ease of mobile-app betting, promos and shifting in-game odds. This is a budding revenue source operators can’t afford to miss.
“IGT PlaySports has been building upon our leading B2B sports betting technology by also creating our own in-house trading service,” says Vik Shrestha, senior director of business development for IGT PlaySports. “Our trading team based in Las Vegas is focused on utilizing the PlaySports platform to its full technological capabilities to help our customers reach long-term profitability.”
Shrestha adds that one of the key areas of product differentiation IGT technology allows for is the ability to utilize multiple data feeds for multiple markets at the same time. This flexibility allows for utilizing the top data feed providers for certain markets they may specialize in.
“For example, our partnership with SportsIQ will allow our customers to have access to a wide range of in-game betting options using their advanced proprietary mathematical models,” he says. “With the continued growth in popularity for in-game betting, we will continue to evaluate various data feed partners such as those that offer micro betting markets or
esports to ensure we can provide our customers with a highly competitive product.”
In March, IGT and SportsIQ announced their multi-year partnership in which SportsIQ makes its odds and automated trading products available on IGT’s PlaySports platform. The deal will see SportsIQ supply a comprehensive coverage of pre-game and live products across the NFL, NBA, MLB and NHL. Its proprietary models and automated technology enable users to wager on odds such as how many passing yards Tom Brady will throw in a game, or what the next-at-bat result will be.
Last November, IGT announced that its PlaySports platform will power world-class retail sports betting at Maverick Gaming’s three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports.
FSB Tech strides boldly into this space with self-service betting terminals (SSBTs) loaded for operators.
The company maintained an aggressive posture last year, introducing products in the midst of the pandemic. This contrarian approach, investing while many competitors cut back during lean times, rewards those who gamble and win.
“The past 12 months have been undoubtedly tough for retail sportsbook operators in the U.S. and beyond, but during this time we have continued to enhance our product offering with the launch and rollout of our box-fresh, next-generation SSBTs,” says Russell Colvin, head of retail for FSB Tech. “We’re confident these terminals can shake up and challenge the existing retail market.
“These cutting-edge SSBTs allow operators to take full control of their retail environment, providing them with a 360-degree, real-time view of profit and loss and the ability to customize and personalize their front ends. All this is powered via our single-view omnichannel platform.”
Operators can fully customize and brand terminals to drive customer engagement and loyalty. This is supported by an easy-to-use and intuitive CMS within its platform that offers complete control over the front end.
“Very soon, we’ll also be able to offer tutorial videos to help punters make the transition from over-the-counter to SSBT,” Colvin says. “These groundbreaking videos have been created to bridge the gap between traditional over-the-counter betting and these more modern forms of retail engagement. We’re certain these will prove very effective in nursing established retail bettors into the exciting, new world of SSBTs and at the same time keep them engaged with the operator.”
The company’s SSBTs provide real-time liability views and remote terminal balance management where operators can control the balance of their machines from the FSB-customized back end.
SSBTs also benefit from a full SIS integration within each terminal while its comprehensive ante-post and horse racing derivative markets allow players to place future bets on big races like the Kentucky Derby and Belmont Stakes.
Colm Finlay, director of Irish bookmaker BetXS, touts the praises of the new product. “The new FSB SSBTs have been huge for my business,” he says. “Thanks to their unique back-end management tool I have full visibility on real-time betting activity and in-running liabilities.
“As well as this, I can offer customized branding in my shops so I can truly target my customers with what they want to bet on. If you’re a bookmaker looking to renew your SSBT arrangements with a platform provider, FSB is the only show in town for me.”
FSB was founded in 2007 by sports betting veterans who understood that consumer demand, live betting, smartphone penetration and evolving European gaming regulations would fundamentally change the operations behind a modern betting and gaming service. “The founders of both Sportingbet and Betfair backed the business, and we’ve since become the industry’s tech leader,” Colvin says. “Over the past decade, we’ve refined our technology and now offer the most customizable, efficient and reliable omnichannel sports betting platform, complete with tools that help you drive revenue, reduce operating costs and maximize marketing ROI.”
Yes They Can
GAN Sports enables customers to expand their brand to on-property players at any time or place, on any device. When a player leaves the property, GAN activates its proprietary digital platform. This extends the brand by immersing gamblers in Play-For-Fun Simulated Gaming, Real Money iCasino and sportsbook experiences, providing a 360-degree view of the player.
The company’s proprietary back-end technology creates a seamless plug-and-play experience for its partners to launch their desired sportsbook, officials say.
According to the company, the platform allows customers to select if they’d like to manage risk or enable GAN’s team of more than 60 traders to do so on their behalf. Its platform also allows for localized pricing, giving its partners’ or GAN’s trading team the ability to manage risk at the property level. What this means is that each property can control its pricing parameters down to the event level.
Fully scalable to meet each property’s unique needs, the company’s kiosk-first approach allows its partners to launch and operate a sportsbook on-site.
“As an early entrant into the U.S. gaming market, GAN has seen firsthand the industry’s growth in regulated U.S. states,” says Arthur Barker, managing director of acquisitions for GAN. “A landmark moment was the parallel launch of three different brands in Michigan on the GAN Platform.
“The regulatory framework that enabled pre-registration of and depositing into customer accounts generated a particularly steep growth curve, and associated sports handle. In addition to U.S.-based growth, the GAN Sports platform’s unique product and trading features also enable GAN’s B2C Division via the Coolbet brand a meaningful opportunity to participate in the large international TAM (total addressable market) of sports wagering.”
Barker says the utilization of data to improve KPIs has been a key component of a competitive gaming offering for some time. GAN has the advantage of almost 20 years of data collection across multiple gaming verticals and territories.
“By applying machine learning algorithms to anonymized, aggregated data sets, the GAN platform can use predictive analysis to make continually improved decisions regarding customer touchpoints to drive customer conversion, retention, and reactivation,” he asserts. “In addition to this, as early adopter states progress towards market maturity, the crossover of customers from sports to casino takes on an increased level of importance. Using historical data sets to make dynamic decisions on a user-by-user basis to facilitate sports-to-casino crossover significantly impacts customer LTVs.”
Barker says that the GAN Sports Retail offering, which will be showcased at G2E, will reset the market for sports betting kiosk solutions. As a greenfield project, the GAN Sports team of industry experts has created a compelling retail product, uninhibited by many of the legacy system issues faced by other offerings, he assets.
The GAN Sports retail product will offer a depth of functionality currently unavailable in the market.
FeedConstruct is a real-time sports data and digital content provider, offering data and video content for the most popular events worldwide. The company started with four critical data feed solutions. But with time and effort, FeedConstruct has grown to be one of the leaders in the sports data-providing world.
FeedConstruct’s mission is to cooperate with content providers and content consumers to create the best sports data. The purchased content undergoes development and analysis, and becomes fit to be delivered to content users. FeedConstruct’s client base ranges from leagues to broadcasters and betting websites.
Products with sports data implications fall into areas like widgets, odds feeds, stats, live scouting and video streaming.
The statistics widget product development started in 2014, though it aired as a complete web resource only five years ago, according to George Arabatlian, head of FeedConstruct. He notes that the product is in a constant state of expansion.
“In any business, information is power, and the ones who can offer more information stay ahead of the game,” Arabatlian says. “Accordingly, the demand for this product was always high in the market and undoubtedly will stay that way. So, we created a product with full information to meet the needs of operators and sports lovers.
“The product started as a source of information for sportsbook platform solutions as a B2B product. The aim was to provide people with enough information to make the right decision. But with time, it developed to additionally offer an application for sports fans, expanding as a B2C product as well.”
Arabatlian praises company staff for perseverance in developing the product.
“No matter how huge the product is or becomes in the future, the ‘wow’ factor will always be the people that united around an idea to bring it into reality,” he says. “These people are the heart of this product. Consistency, loyalty, enthusiasm, devotion and trust are the fundamentals responsible for the creation of FeedConstruct’s statistical solution. By trusting each other and the process, we shaped an idea into one of the key products of FeedConstruct. We gave all our time into nourishing this product until it was big enough to give back to us.
“We started as a small team with a new idea in a big company. Our team back then consisted of five people—individuals who had a vision and believed that the idea could bring value to their company and become the newest and the largest source of information for sports lovers. So, the only question was: Why not do it?”
Highlights of the widgets including in-depth statistics and sports data have been specifically designed to engage consumers and increase revenue. This enables betting operators, sports media providers, sports federations and even fan-page suppliers to take their websites to the next level.
Daily matches: Receive up-to-the-minute data on match results, upcoming games and live matches. Customers get valuable statistics from matches from 2,400 competitions in over 130 regions.
Timeline: From goals and substitutions to a player’s position throughout a game, all the stats that matter in chronological order.
Stats: Comprehensive statistical data which includes valuable information like the number of shots on and off target, goalkeeper saves and corner kicks.
Lineups: Team lineups, managers’ names and substitutions.
H2H: Precise head-to-head statistics, from past results to the number of goals scored per team.
Standings: Up-to-date league tables, which include the number of played games, goals conceded and scored and the total number of points for each team.
Odds feed: Get odds on over 840,000 live matches and 1.68 million-plus pre-match yearly sporting events around the world.
Throughout the sports-betting industry, data is getting its due. It remains a significant catalyst to drive revenue and is part of a robust era that has just begun.
The Next Wave
The next wave of sports betting is around the corner.
Did you remember to take the New England Patriots plus 4 against the Miami Dolphins? Here’s a reminder: the line just hit the number you want.
This is one of many areas coming to fruition for Triggy, which offers an advanced personalization platform, inclusive of notifications, alerts and next bets (betting suggestions), along with live score technology for integration into franchise and facility apps.
Triggy is a sport tech company building a unique personalization platform. Its tools and solutions enable sportsbooks to acquire, engage and re-target players through advanced personalization notifications, alerts and next bets. Triggy is live with Pinnacle, Sportsbet and LeoVegas. Triggy’s products are available in the Google Play Store and Apple’s App Store.
The concept of personalized updates and potential wagers that meet preset conditions will soon become more mainstream in the sports-betting market. The enhancement will go beyond notification of score changes to alert players when betting lines they wanted have become available. There can be score updates and news of one’s particular team.
It can, in effect, resemble a buddy looking at the odds board for you.
Triggy’s tools include statistics, next bets, alerts and personalized notifications. Some of its solutions include plug-in widgets and a live-score app.
In June, Triggy announced a partnership with Venuetize, leaders in mobile-first technology, as an addition to the Venuetize sports betting module for franchises and facilities. This integration available through the Venuetize sports betting module will help drive fan engagement and increase app usage on a year-round basis, while adding value to sponsorship deals with sports betting operators as its seamless call to action helps convert fans into bettors.
Venuetize is a mobile technology and advanced e-commerce platform for the sports, hospitality and entertainment industries. The company’s proven platform (PaaS) connects technology ecosystems, facilitates e-commerce, and delivers cutting-edge mobile-first experiences. With 185-plus third-party integrations and counting, Venuetize provides flexibility to create an easier, safer and more enjoyable experience for guests, its officials say.
Founded in 2014, Venuetize works with professional sports teams, stadiums and arenas, casinos, entertainment districts, and shopping destinations across the globe.