Sports betting is witnessing explosive growth and has even crossed geographical boundaries and found new market opportunities in the United States and other countries. The demand has moved operators and even state government to change their stance on sports betting and capitalize on the opportunities it holds.
In the post-PASPA (Professional and Amateur Sports Protection Act) world, many states in the US have allowed sports betting. With more states giving sports betting a green light many opportunists have been exploring the world of sports betting and getting all the information they need. The buzzing world within the industry is nothing but DATA! Many sports betting operators have now realized their success is dependent on which official data source providers they use for their platform. The outcomes of the wager can largely depend on the quality of the data feed one uses. For legal sports betting in America the value of live, quality data is quite high.
When we talk about sports data, it is not just the data of the match live but the player databases would also play a big role. Historically, betting operators missed out on this one and they did not even give due importance to the quality of sports betting database but, the players in the market now are aware of what role data providers can play even if there isn't a robust tracking mechanism that was essentially present in casinos.
Smartphones and cheap internet connections have facilitated the growth of the sports betting industry. But data would still be a critical part of the success.
What should your data feed include?
The objective of sports data is to ensure that odds and statistics are available on time for betting operators. Data feeds make that possible, it is paramount in providing an optimal sports betting experience. Data needs to be quickly available and needs to be reliable as well, to engage with sports fans and bettors, operators would need to even make this data available to users to be competitive in the market.
What do Data feed providers do?
They collect information that would be on the lines of what sports betting operators would need, from sports book operators around the world. This raw data is then sent to oddsmakers who will receive all the relevant information like current odds and estimated odds in their own and other jurisdictions. All the statistical information would be made available to the oddsmaker like injuries and other adjustments. Why is this important? bookmakers could take advantage of the time difference, if they are based in the US they would keep a close eye on what is happening in the Caribbean which is one hour ahead of most of the US then the final odds are made available to the platform operators. The betting market is susceptible to a lot of illegal activities but the integrity of games and the best that are placed would be hugely dependent on the quality of data feeds
Quality feeds would even assure consumers that the bets they see are connected to the sports. With in-game wagering it becomes even more important so does real-time live data.
What lies in the future?
The road ahead for sports betting operators is hugely dependent on the state’s sports betting market and the data feeds they use. The second factor has become more important and can be seen in action in the states that have legalized sports betting. What you can mainly draw from the article is that databases could play a big role in this competitive market. It can play a big role in attracting and retaining bettors today.
The betting industry is also witnessing some growth in the sector of Micro-betting and Esports betting. The bets placed on short-duration, easy-to-follow events form the part of Micro-betting betting, for example, whether Lebron James would hit the next three-point attempt. Similarly betting in the world of Esports is growing significantly as well, online gaming is a particularly new term and for the first time has been given professional recognition for games like League of Legends, CS:GO, etc. E-sports betting has come into existence as well. Technology is set to play a significant role in the whole picture, but one needs to tread carefully in the market.
Sports betting data providers came into existence with an aim to make sports data available all around the globe, the sports fans’ consistent demands related to real-time sports data has created the demand for live sports scores free APIs. Sports data providers like Data Sports Group also offer live sports content along with accessible tools for data & statistics along with an extensive sports database that contains historic data dating back to 50 years which can be used to create rich insights and aid in faster decision-making.