Is there too much to bet on?
Chris Naudi, iGaming specialist and Head of Sportsbook at Global Gaming Group discusses the advantages of Sportsbook Innovation
Talk to any sports betting provider and they won’t hesitate in rolling off how many pre-match and live events they offer on a monthly or yearly basis with an air of confidence that they have impressed you with their product coverage. But are we now at the stage where the range of product has become so vast it can also be off-putting? Do Sportsbooks really need to offer 100+ live betting matches simultaneously? And are punters betting on all of them?
There is no doubt that the Sports Betting industry has advanced in leaps and bounds over the years in terms of events and product offering. In 2010 the average ‘top end’ Sportsbook offered approximately 2,500 live betting events a month with an average of 25 in-play markets for live football matches. Fast forward to 2018 and your larger household Sportsbook names can easily offer 20,000+ live betting events per month, with live streaming for 10,000+ of them. Automation and algorithmic odds generation have been the main contributors to the staggering increases here, however in most cases it has led to a situation where quantity reigns over quality.
So what is the way forward? The simple answer is Sportsbook Innovation. It is quite easy for the average-to-experienced punter to be able to distinguish between product that has been manually compiled as opposed to automatically generated and I think punters are much more likely to have a bet against another human than a machine. More importantly, the sportsbook that has taken the time to be creative clearly sets itself apart when, in all honestly, finding something unique to offer in a sportsbook without a large bonus cost is becoming more and more difficult.
Funnily enough, in my book, less is more. Less, but good quality, well thought-out, innovative product will always win over auto generated, machine-fed product. People who think that there can’t be a human element in a Sportsbook are, in my opinion, misled.
So, next time someone mentions how many thousands of matches they offer at Sportsbook ‘X’, ask yourself: is this really necessary? Or even desirable? Am I betting against a machine or a human? And is there really the need for all the retail space taking up this excessive content? But I bet you probably do that already anyway!
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