While sports betting is growing in the US and the different state markets are becoming more competitive, the importance of data as an interaction tool is amplifying.
Ryan Knuppel, the Founder & CEO of Knup Solutions LLC, brought the issue of how data and technology can be maximised to the fore in a panel moderator at SBC Digital Summit North America.
Knuppel tried to gain the panel’s insight into what correct data acquisition within the sports betting supply chain entails for operators and providers.
NEWGIOCO Group CEO, Michele Ciavarella noted: “When you speak about procurement, what you have to keep in mind is a couple of things. In order to keep the data and the providers honest, data comes from two sources; it’s a grouping of actuarial computations and it’s ingested by a software but then it’s put in with human inputs.
“So, if somebody is changing a series of odds because an event has happened – somebody broke a leg, or there has been a trade, so there has to be some sort of oversight that the information is getting to everybody at the right time.
“But at the end of the day, you can actually get a situation where the data input people, the big providers, we want to make sure that they’re providing the same information so that it can really be ingested properly and provide the product fairly to customers.”
“There has to also be some sort of segregation between the data providers and the operators. We have to keep everybody honest on our supply chain, so customers get a fair shake.”
The Strategy Organisation’s founding partner Josh Swissman was willing to agree as he described the points of Ciavarella as ‘hitting the nail on the head.’
He demonstrated to delegates: “If everything that he [Ciavarella] just described works, that results from a customer facing standpoint in trust, transparency and ultimately the operators and platform providers will win and gain market shares.”
Anika Howard, VP of Foxwoods’ Brand Advertising & Digital Communications, shared the opinion that integrity is really important. She declared: “Sports betting is a data rich and data driven experience, sports bettors depend on that information and depend on it being accurate.
“It’s not just about having the data – it’s about making sure that it’s integrated correctly and there aren’t any delays, because all those things are critical and players will leave.”