With a US white paper evaluating $50 m worth of sports bets made on property with its US casino partners since the beginning of 2019, sportsbook management technology provider Betgenius whets the appetites of industry analysts ahead of the return of major US sports this month.
Titled “Unmissable: The return of U.S. sport / How to maximise your on-property sportsbook margins” the study provides an entertaining and informative insight into habits formed in sports betting.
Bill Anderson, SVP US at Genius Sports Group, noted in his foreword to the study: “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 maximise 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, optimise 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 analysed $50m worth of wagers bet on property with our US partners since the start of 2019.”
Turning to the study’s material, Betgenius’ review of seven state markets found players betting on New York assets the largest, with Pennsylvania in close pursuit. This supports the notion, the firm said, that the size of the stakes in coastal states tends to be greater.
In Arkansas meanwhile, parlays account for more statewide handling than any other territory, which explains the low average stake size in some way. Mississippi has the second smallest amount of stake and ranks second for parlays.
The study added that in-play wagers are typically twice the size of those put in pre-game across the company’s US retail partner base as a whole. Not surprisingly, the paper found that football is number one when it comes to stake size by sport, followed by golf and then basketball.
It also noted that half-time wagers are key to game day action, reporting that last season 42 per cent of in-game NFL handle was betting on second-half markets, usually half-time, compared to just 2 percent 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.”
Click here to access the full report, which includes more information on live betting, pre-game wagering and the interest in sports like NASCAR.