Ahead of the return of major US sports this month, sportsbook management solutions provider Betgenius whets the appetites of industry observers with a US white paper analyzing $50m worth of sports bets placed on property with its US casino partners since the start of 2019.
Titled “Unmissable: The return of U.S. sport / How to maximize your on-property sportsbook margins”, the study offers an informative and entertaining insight into sports betting habits.
In his foreword to the study Bill Anderson, SVP US of Genius Sports Group, noted: “US sport is on its way back into our lives and after a challenging few months for everyone in the sports and betting sectors, there is plenty to be excited about.
“Following an unprecedented dormant period, land-based casinos have a significant opportunity to maximize the revenue potential of the action-packed sporting calendar that lies ahead.
A large driver of this success will be about timely, data-driven outreach and tailoring the sportsbook experience. Knowing how local patrons bet and the sports and selections they like will allow operators to curate the right messages, optimize their offering and ultimately drive loyalty.”
He added: “Our sportsbook management solutions are built to allow our partners the flexibility they need to offer a unique experience to their players. Our trading, risk and digital marketing services are live with 25 licensees across 12 states, including land-based properties in seven.
“To help US casinos prepare for the prodigious return of sport, we’ve analyzed $50m worth of wagers bet on property with our US partners since the start of 2019.”
Turning to the content of the study, Betgenius analysis of seven state markets showed that players bet biggest on New York properties, with Pennsylvania in close pursuit. This supports the notion, said the firm, that stake size tends to be larger in coastal states.
Meanwhile, in Arkansas, parlays account for more statewide handle than any other state, which goes some way to explaining the low average stake size. Mississippi has the second lowest stake size and ranks second for parlays.
The report added that across the company’s US retail partner base as a whole, in-play wagers are generally twice the size of those placed pre-game. Not surprisingly, when it comes to stake size by sport, the paper found that football is number one, followed by golf then basketball.
It also noted that half-time wagers are key to game day action, reporting that last season 42% of in-game NFL handle was bet on second-half markets, usually at half-time, compared to just 2% on first-half markets. “The remaining 56% was bet on core in-game lines, totals and spreads,” it said, adding: “Pricing half-time specials based on the live game narrative is a proven way to drive NFL handle via kiosk on property.”
To access the full report, with more statistics on live betting, pre-game wagering and the growing interest in sports such as NASCAR, click here.