Insight
SPORTS BETTING SG Digital
Keith O’Loughlin, SVP Sportsbook and Platforms SG Digital
“Advances in technology, including faster internet speeds and the rollout of 5G mobile data, will allow operators to introduce better quality and low latency streams to bettors, whether they’re on the go or betting in their own living room. Entertainment giants Netflix and Spotify have driven a culture of on- demand streaming services, and the sports betting industry has to respond to such trends. “
Overall the sports industry is evolving in order to encompass interactive experiences that fully engage fans. Nowhere is this more apparent in the sports betting and live sports betting space where operators are focusing on personalisation and interactivity.
By delivering engaging content live streaming enhances all aspects of a sporting experience for both fans and bettors alike. But this is part of a much wider shift in the way fans are consuming sports and watching TV. In recent years, live streaming has created an increasingly compelling and more affordable online customer experience. As a result, millions are moving to online live streaming services and ending their cable subscriptions for good.
But what does sports streaming mean for the sports betting industry? In the first of a series of interviews we look at some of the most recent developments in the streaming sports betting space and discuss future innovations.
What does streaming add to the overall sports betting experience? How does streaming help keep customers engaged?
Live streaming enhances the sports betting experience by increasing engagement among bettors, who are more inclined to wager on an event when they can see the action unfold right before their eyes. It’s been a significant factor in driving in-play to become the most popular form of sports betting, as it allows players to assess the latest on-field developments and predict for themselves the outcome of the next events.
Sports such as football, horse racing, greyhounds, golf and tennis have all
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experienced an increase in wagering volumes thanks to live streaming, particularly when operator sites provide an access point for live pictures when traditional channels such as subscription TV do not show the coverage live.
When live pictures aren’t available, other forms of streaming such as in-play animations supported by comprehensive data are equally effective. Tese in-game visualisations work just as well to create a vivid image in the player’s mind, providing them with all the information required to take that next step and place a wager.
What will the impact of streaming be on the sports betting industry going forward?
Streaming will continue to form an important part of the sports betting experience, that’s for sure. Advances in technology, including faster internet speeds and the rollout of 5G mobile data, will allow operators to introduce better quality and low latency streams to bettors, whether they’re on the go or betting in their own living room. Entertainment giants Netflix and Spotify have driven a culture of on-demand streaming services, and the sports betting industry has to respond to such trends.
As a result, operators are actively expanding their streaming services across a wide range of sports. From 2020, Scientific Games’ OpenSports will provide bettors with an improved live golf betting experience with fast and comprehensive shot-by-shot data, live streaming and interactive course visualisations from both the PGA TOUR and European Tour, through a new partnership with IMG ARENA.
How does streaming help drive revenues for sports betting companies?
As an industry, we have to ensure we offer our audience betting experiences that are fun and entertaining, and most importantly providing them with value for money. Let’s not forget that sports betting competes with other forms of entertainment, which are constantly evolving to improve the way in which their customer base consumes content.
When bettors are enjoying the experience presented to them, it leads to greater engagement and dwell time, which in turn delivers greater revenues for operators. Streaming is just one aspect of the overall UX. At SG Digital, we offer a service that covers all areas to make sure that bettors receive that match-winning experience they crave for.
What are some of the most recent developments in the streaming sports betting space from SG?
As we evolve our sports betting solutions to meet the changing betting landscape, we’ve introduced a new scoreboards function to OpenSports that gives bettors real-time data to help inform betting decisions. Match HQ, enhances the live betting experience, with a scoreboard widget that includes current scores, play-by-play animations, commentary, and in- play team and player statistics.
Match HQ is especially fitting for the burgeoning U.S. market, presenting live data on some of the market’s biggest sports, including football, basketball, baseball and tennis. Since launching Match HQ, our partners have benefited from immediate uptake in betting transactions.
Is sports streaming a game changer or major disruptor?
Due to innovations in live sports streaming the way players are betting on sports is changing with people increasingly comfortable watching sports online. By delivering engaging content live streaming enhances all aspects of a sporting experience for both fans and players. SG Digital’s Keith O’Loughlin tackles some of the issues raised
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