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Microbetting has seen a growing interest in the last 12 months, both from bettors as well as operators. Microbetting will likely be a trend for many years to come, as it allows more options to be offered more frequently in a timely manner and tailored to specific matches.
It’s vital that operators and suppliers have rich content for bettors to enjoy, both globally and in markets such as the United States. This is where microbetting comes in, but it also brings with it some challenges.
The Microbetting Challenge
Like any new innovation there will be a period where you experiment and learn what works. It’s important to strike a balance between providing a market that engages bettors, and solving it quickly while still delivering a good performance for operators.
The first step is to provide bettors an offer that is enticing and engaging, as well as an enhancement of their experience. This requires a solid understanding of the match, not only based on historic data and trends but also what is actually happening live. Sports betting is not new. However, the industry is still working on improving its ability to read a match in order to offer micro-betting. It is important to have a quick payout system, so you must be able settle markets quickly. You also need to optimize these markets in order for them to deliver strong returns for operators, so that they don’t end up as a side feature.
Operators and suppliers need to create a trading history and dataset based on real world, real time examples in order to refine, optimise and learn about a microbetting products.
Fast Sports offers a wide dataset
Fast sports products have the best opportunity to collect historical data for microbetting. Sports content is available 24/7 all year round, giving operators and suppliers greater opportunities to experiment with microbetting than traditional sporting events.
There are more microbetting opportunities due to the sheer number of events. BETER, a betting content and data provider has launched 16 fast markets for table tennis tournaments. These are managed by our team to speed up the process and allow users micro-bets. We want to make it possible for bettors place bets that have the fastest outcome. A “race to four points” market, for example, would be settled long before an event ended.
You can quickly scale up the accuracy, effectiveness and performance of your product by experimenting in the environments where it is used.
Setting a baseline in traditional sports
Two important effects follow from microbetting fast sports content. You can create a 24/7 stream of content by combining a refined microbetting offer with a robust sports content.
Second, you can use historical data, best practices and knowledge of microbetting in fast sports to create opportunities for traditional sports. You can use fast sports models and data to guide your decisions, or build the knowledge and skills of your traders.
It is especially important for markets such as the US where parlay betting in-play is a good indicator of interest and adoption of new products that can add a lot of flavor to a sporting event. The next step in the evolution of sports betting is microbetting.
Fast sports content is not just another vertical for operators to profit from. It also provides a steady stream of content that players can enjoy. This is a great opportunity to test microbetting, and create products that will broaden your offerings and meet the needs for newer bettors.
Written By: Sabov Evgeniy BETER Sports Head Trading
