The sportsbook business has been lucrative since its inception. People can’t get enough of the thrill that comes from being able to predict the outcome of a sporting event. Determining the future outcome of an event is like playing God. The betting industry offers people an opportunity to play God by predicting the outcome of matches. In turn, the sportsbook industry has been immensely rewarded with massive patronage, making it one of the fastest-growing and most competitive industries in the world.
According to Statista, the global sports betting market was valued at $194.6 billion, an upgrade from the $173 billion valuation the industry achieved in 2020.
As expected from a thriving industry, new sports betting companies or platforms will emerge almost daily. Some may hit the ground running, while others may not be able to handle the competition. There are reasons for that, and one of them is the gaming content they provide for their players. It’s a difference maker because the more exciting the content is, the more intrigued your players will be. Sometimes, all it takes to encourage customers to place more bets are a wide variety of sporting events and irresistible odds. How can that be achieved? Through sportsbook data feeds.
Odds Feed for Online Betting Platforms
This software is a tool that enhances the players’ betting experience. The odds feed is an in-demand odds system that enables online betting platforms to produce real-time stakes. It improves and grows the sportsbook business by providing valuable data such as real-time fixtures, betting odds, and, more importantly, live betting content. Bookies have noticed that many players have a preference for staking money on live games, and by offering that, they not only get more customers but they also get more wagers on sporting events which will result in more profits for the house.
With a high-quality odds feed system, the betting company doesn’t just get real-time feed on live games and odds, but fan engagement triggers, aesthetic graphics, and stories about match statistics such as the team’s recent form, lineups, head-to-head, league standings, the competition, etc.
To fully appreciate the benefits of this product to an online betting platform, one has to know the advantages it offers:
Advantages of the Odds Feed Product
- All Types of Bets: One thing about customers (irrespective of the business or industry) that encourages them to spend money is giving them multiple options. People like having options, so the more options, the better. This odds feed product doesn’t just provide real-time fixtures and odds; it also provides numerous betting options for every single game it provides. Let’s take soccer, for instance. A single fixture can have bets such as win, win or draw, player to score, number of goals to be scored in the match, number of corner kicks, team to win the first half, team to win both halves, both teams to score, player to score the winning goal, etc. In the gaming industry, it’s believed that when there are numerous options, players stand a higher chance of winning.
- Round-The-Clock Customer Support: This software provides the betting company with responsive customer service that will always be accessible to enable seamless communication with the operators concerning any technical issue.
- Exclusive Live Betting Odds: This product offers juicy odds on live games to betting platforms. This is an extra perk because not all online betting platforms provide odds on live games to their customers. Many customers prefer betting on live games because it gives them a better direction of the game than before it started.
- Great Risk Management: This feature is crucial because it can save the business from folding up and maintain its profitability. This software provides the company with a loss limit. The software blocks betting odds when that threshold is reached, minimizing the company’s risk and ensuring they remain profitable.
- User-Friendly Interface: The UI/UX of the software’s interface is simply out of this world, but the visual appeal isn’t the only thing it has going for it. It’s very user-friendly, and first-time operators find it easy to navigate their way around.
- Event Match Tracking: Online betting companies can track the progress of various sporting events through the software.