World Cup Serves as Launching Pad For New In-Play BettingPublished June 29, 2014 by OCR Editor
Companies take advantage of the popularity of in-play betting to launch the newest variation: high-frequency, micro-markets that allow players to bet on events in individual minutes within any game.
In-play betting during this year’s World Cup has reached an all time high, but it stands to rise even higher as some bookmakers use the event as a launching point for a new variation on in-play betting, namely, high frequency, micro-bets.
Coral Interactive is one of the companies embarking on this new endeavor. They debuted their new product, Rapid Fire, last week, which allows customers to place bets on football markets that last no more than 60 seconds.
Concurrently, BetVictor has launched its new “Minute to Win It” product on all World Cup matches. The ultimate goal is to make it available on a wider scale during the upcoming football season. SBTech will also be offering similar software to its clients.
How It Works
Both Coral Interactive and BetVictor’s products work like this: They take a minute-long period of the game, and offer odds on things such as throw-ins, free kicks, goal kicks, red cards, yellow cards, goals, etc. This creates bite-sized bits of excitement throughout the game that contribute to players' involvement and interaction.
Rising Popularity of In-Play Betting
The rise in popularity of in-play betting cannot be ignored, as it increasingly makes up a large part of sportsbook revenues. In fact, in-play betting accounts for 70% of bet365’s sports betting revenue and 60% of Ladbrokes’ sports betting revenue.
It seems that operators have discovered that these high-frequency, micro-markets have the potential of a second screening on mobile, which in turn means the potential to generate higher turnover per player.
As of now, BetVictor’s “Minute to Win It” has exceeded the expectations of Eoin Ryan, head of the sportsbook. He commented, “We believe there is a big opportunity and the early feedback and uptake would suggest that is the case. These markets are unique, they are immediately settled as each minute elapses and they offer a customer a new and exciting way to follow the action.”