Dotan Lazar, CEO and Co-Founder at LSports, writes for SBC Americas about how in-play markets can be a “natural evolution” for sports betting before explaining how LSports’ data feeds and coverage can help sports betting operators ‘get in on the action’.
The NBA playoffs began this week and will continue until a champion is crowned in June. During this time, millions of viewers will tune in to witness the world’s most transcendent athletes compete for personal legacy and eternal glory. For some viewers, the experience is heightened by the thrill of placing bets on the outcome of the games.
Some will attempt to predict the winning team, the margin of victory, and total score. They will wait for the final buzzer to learn if they hit the jackpot. Others will keep a more watchful eye on their phones during games, as their fates will be decided by the outcome of much shorter in-game instances like which team will win the 3rd quarter or hit a certain point target, which player will achieve a triple-double or even score the next point.
Many words have been written in recent years about the increasing popularity of in-play betting in the US, framing it as one of the most significant trends in the gradually legalizing sports betting country. Recent market estimations stated that the pre-match/in-play split for handle was nearly 60%/40% in 2022. Sara Slane, former senior V.P. at the American Gaming Association, estimated that the latter number would increase even more in coming years, setting the future bar at 70%.
This trend should come as no surprise. In-play betting is a natural evolution of sports betting in the US and a genuine reflection of this generation’s preferences and consumption habits. In a data-abundant era, young people think fast, react fast, and seek instant gratification. They don’t want to wait until the final whistle/buzzer. In-play provides them with an exciting and engaging betting experience that also rides well with the transition to mobile and second-screen viewing.
US – The ideal fit for in-play
While dominant in Europe for many years now, the US market appears to be the ideal fit for In-play betting. American sports fans are analytically driven, mastering the art of numbers-crunching in real time. They can react faster than anyone to in-game developing situations. In addition, the most popular sports in the US have inherent advantages and offer an excellent setting for live betting.
American Football, Baseball, and Basketball all have short breaks in action that allow data providers and bookies to create and offer more betting markets to users. With the legalization of on-site (and especially online betting) moving forward, it is safe to predict that in-play betting will soon become more and more dominant.
This reality offers sportsbooks opportunities to grow as long as they react fast. Delivering clients a wide variety of in-play betting markets is no longer a nice-to-have component but a clear must-have for obtaining a competitive edge over competitors. If a reliable pre-match product is the building’s foundation of a top-level bookie, a rich in-play betting offering makes it a business running 24/7 effectively. This, of course, comes with financial benefits, as in-game wagering increases user retention and dollars spent per user while keeping them engaged.
The late bloom of in-play betting in the US has its advantages. The gradual legislation allows bookies who wish to expand in the country to gain much necessary preparation time considering the demand for this type of betting that is sure to reach new peaks. In addition, technology keeps advancing, presenting more and more business prospects for companies operating in the industry. Growth opportunities, though, come with challenges.
Data providers have a key role in this booming in-play betting scene
As always, data is key. To offer users more in-play markets and extend their time on-site, sportsbooks in the US would have to get access to a comprehensive data set delivered in real-time, covering all types of sports and offering various In-play markets. This includes player props (a massive favorite of American sports fans), common in-play markets such as “how many touchdowns a player will score,” and the rising star – Instant betting markets with brief lifetimes, such as “which team will score the next point” in basketball.
And it doesn’t end with coverage. The data sportsbooks would use to create an ideal and profitable in-play product must be accurate, arrive with close to zero latency, and include accurate and perfectly timed bet settlements. Innovation is another element. In-play, by its nature, pushes technology to the limits, and data providers that use advanced data collection methods and offer supporting engagement tools could elevate bookies.
This is where LSports comes in. The experience we gained through working for many years with numerous sportsbooks operating in the US helped us learn how to tackle the various challenges they were facing in several ways. LSports offers bookies lightning-fast in-play data with the lowest latency in the market (0-1 seconds) and a 99.8% accuracy rate, thanks to our leverage of advanced A.I., ML, and CV methods.
We take pride in our coverage, which is the most comprehensive in the industry.
LSports supports over 100,000 in-play fixtures and more than 2,000 in-play markets per month across over 70 sports. This includes more than 100 player prop markets and encompasses all types of in-play bets, whether instant or long-term. Our offering of the most popular sports leagues in the US is unmatched, with over 1,200 markets available for the NBA, NFL, MLB, NHL, and MLS. This scope of coverage allows us to provide our partners with an unparalleled in-play betting experience.
Data feeds are the basis for creating a rich in-play sports betting experience, but engagement tools can complement them and increase users’ loyalty. This is why LSports arms its customers with BetBooster, a fully automated AI-based betting tips tool. Based on historical data, BetBooster provides insights and suggestions about in-play (and pre-match) events. It covers the top five most popular sports in the US and produces over 20 million tips per year for over 100 markets. Our 24/7 customer private and live support, a service no competitor offers, promises speedy response, which is crucial, especially with in-play markets.
As technology advances and regulation evolves, the challenges and opportunities in the US sports betting scene will grow. LSports is well-positioned to navigate these changes and is sure to continue to be a major player in the industry for years to come.
LSports representatives will attend SBC Summit North America, which takes place at the Meadowlands Exposition Center in New Jersey from May 9-11 – we are ready to showcase the company’s flagship products and services. Meet us at STAND A460 and hear all about what we can do for you.