Data To Drive Sports Betting’s FutureJake Cooper | 10 Sep 2020
Gaining the edge – not to mention even holding on to it – can be the make-or-break of any operator hoping to succeed in a market as competitive as the global sports betting industry. And according to the first sports panel at the SBC Summit Barcelona Digital, granular offerings driven by granular data are the holy grail road to achieving that edge.
What it all ultimately comes down to, says Joe Lee, Head of Paddy Power Great Britain and Ireland, is data, and moreover, the people able to correctly interpret that data.
Data is what’s been working, say the panellists, and data is what will continue to work going forward.
More Markets Are Justified
Aside from data being the key aspect, markets would do well to spread to all forms of sport, said Napoleon Sports & Casino Head of Product & Innovation Phillipe Joost. And his is an opinion fully supported by Bettorlogic CEO Andrew Dagnall, who noted that a great deal of ground remained in need of covering – and especially so regarding an expanded venturing; in the case of Belgium in particular; into the world of cycling.
Golf too, say both Dagnall and Joost, could do with a great deal more exposure and venturing into. Great live betting opportunities are practically being offered on a silver platter by both these sports, has been the general consensus.
Data Crucial Also To Expansion
But with expansion having been highlighted as a key factor deserving a great deal more attention and effort, the panellists also agreed that an overkill expansion into elaborate markets has traditionally only led to bettors becoming overwhelmed and confused.
The danger of expanding the number of markets offered by any given operator is that players may ultimately end up feeling as if they’re not able to find that bet they want to make most of all. And this, said panellist Altenar Chief Operations Officer Dimos Stranomitis, is exactly where the effective application of data comes highly into play.
As for the biggest events worth focusing on and looking forward to in terms of 2021, the panellists all agreed on the European Championship being the leading tournament, followed by the Tokyo Olympic Games.
And since the upcoming schedule is about to get busier than ever before in the history of sports betting, Stranomitis said he’s of the opinion that everyone involved should probably be getting in their vacation time at Christmas.