Player prop markets have become a go-to for many bettors in Europe. And as more states in the US begin to open the doors to legalized sports betting, we’re seeing the growing popularity of player prop markets become much more evident in North America. Data has suggested that the vast majority of bets placed in the US relate to pre-match and outright markets, however that is changing to more in-play, player prop markets – slowly but surely.
But what is driving this growth in popularity? In a word, data. Writing for SBC, Yaniv Keren, VP of Product at LSports takes us behind the scenes to look at the roll-out of player prop markets and the role that LSports can play in supporting its partners to get ahead of the competition for these betting options.
Just a few weeks ago, Lebron James’s 14-foot fadeaway jumper with 10.9 seconds left in the third quarter against OKC made him the all-time scoring leader of the NBA. Sports fans worldwide anticipated that moment for months, paying much less attention to the result of the game, in which the Lakers lost 130:133 to the Thunder, suffering a blow in their already challenging battle for a playoff spot.
It was no surprise, though. King James’s achievement occupied the media and led to many discussions on social media before it actually materialized. In an era that glorifies personal accomplishments and is obsessed with GOAT debates, when fans are much more stats driven than ever, individual records often overshadow the team conception.
It’s no different with sports betting. In recent years, with the legalization of sports betting in many US states and the rise of daily fantasy sports, player prop markets have become increasingly popular among sports bettors.
They offer a wide variety of gambling opportunities on specific player performances, adding extra excitement to the betting experience. This excitement arguably lacks in more traditional team-oriented markets such as money line, under/over, and handicaps.
In 2019, the American Gaming Association has estimated that approximately $1.5bn has been wagered on player prop bets. And in 2020, DraftKings stated that player prop markets accounted for a quarter of its total sports betting handle – showing that these types of betting products are not to be ignored.
Jay Croucher, Head of Trading at PointsBet, also told ESPN in August 2022 that player prop markets will soon account for 50% of the bets placed through the company’s platform. This is a significant jump from the 20% in 2019. From a bettor’s point of view, this trend is easy to understand, as player props provide an engaging betting experience.
Deciding whether to place a wager on Damian Lillard making more than five three-pointers in the All-Star game, the number of rushing attempts made by Kenneth Gainwell, or who will score the last touchdown for Philly in the Super Bowl requires research – much more than when simply betting on the outcome of a game/one of its periods.
With player props, it’s about sitting down and finding advantageous matchups for a particular player and crunching the numbers of their past performances against the same opponent. Current form, injuries, and expected playing minutes are also factors to consider before assessing the likelihood of a player meeting the target set. Data, always the backbone of informed decisions, is even more valuable in these markets, especially when the focus is on in-play betting rather than pre-match.
Delivering a product offering that enables you to stand out from the competition is arguably much easier said than done. When it comes to player props, sportsbook operators must tackle the challenge of ensuring that they are delivering the most accurate and comprehensive information to players ahead of and during a sporting event.
From a betting perspective, this wealth of data makes for a more enjoyable, interactive, and personalized player experience. This is where LSports comes in.
We are a world-leading sports data provider that tackles this challenge of data provision in several ways. Besides offering an exceptionally wide player prop markets coverage (with 434 supported in total and over 120 for the top 3 most popular US sports), we also arm our customers with BetBooster, a real-time AI-based sports betting tips feed designed to increase engagement and boost bookies’ turnover rates.
Specializing in player prop markets across over ten sports and E-games, BetBooster monitors all open bets and uses historical data analysis to deliver tailored suggestions for both upcoming and live events.
Questions such as will Lionel Messi score the first goal in the World Cup final, Aaron Judge hit a home run against the Red Sox, or Steff Curry scores more than 32.5 points in the NBA finals game six against the Celtics are answered by drilling down into a database which produces over 20 million insights per year, and supports over 100 markets in 25 languages.
The rise of player prop markets in sports betting reflects the changing landscape of the industry and the evolving preferences of sports fans and bettors. As this trend continues to grow, we are sure to witness more. More markets offered, more bets, more engaging tools, more personalized betting tips, and a lot more data to support the process.
With new technology and advancements, we can expect even more exciting developments in this area very soon.