Pulse
ESPORTS BAYES ESPORTS
Bayes Esports:
Standardising the esports betting market
The esports industry is currently facing a substantial challenge. Betting operators do not cover many new, smaller game titles or many national and regional competitions because adding these titles is a difficult endeavour.
For the integration of new services to be worthwhile, operators require high quality odds to be provided to them. Larger traditional sports focused trading teams often cannot provide these odds for many sports or game titles in esports, as their knowledge of those sports is too limited.
Agnes Wasikowska
Lead Product Manager, Bayes Esports
Agnes Wasikowska is a Lead Product Manager heading the development of betting products at Bayes Esports. She is an avid gamer and esports fan of many years, as well as a firm believer in the future of the industry and its potential impact.
In the industry, every player has their own proprietary
standards that they are using, and therefore every
bookmaker if they want to
have multiple odds providers must undertake a lot of
technical work. What we do is perform this work ourselves. Per provider, we build
internally components which unify the feed and proprietary standard into one single standard.
P76 WIRE / PULSE / INSIGHT / REPORTS
For these sports to be added to the offering, sports betting operators must turn to specialised providers. However, since these providers tend to have different proprietary standards for their reporting, monitoring, market definitions, and API used, this often results in betting operators having to deal with high preventive overhead costs. Tis means that data providers are often struggling to find customers for their offerings regardless of the quality of their product.
Bayes Esports believes it has developed a solution to this problem in the form of BODEX, a first-of-its-kind platform that integrates odds from both general and specialised traders on a single platform. G3 interviews Agnes Wasikowska, Lead Product Manager, to discuss the significance of odds standardisation and flips the question about what esports can learn from sports betting on its head.
Tell us about the creation of BODEX - how did the idea germinate and how did the concept come to fruition?
We wanted to reinvent the wheel and develop an esports product that brings together the best of all worlds. Te live data is un-delayed, unlike a Twitch or YouTube stream which is usually about 40 seconds behind, meaning the bookmaker always has an advantage on what the public sees in-game. Tere also aren't many trading resources out there that are familiar with trading esports. What most companies do is take a 'traditional' sports trader and ask them to start trading on League of Legends, but this tends not
to work very well as the very nature of the game is massively different.
One potential means of development was to build our own trading team and esports odds from scratch, but we decided with BODEX. Initially, the idea was to create an exchange platform utilising those existing providers on the market that have a good esports product and bring them together. It took us about three months from initial idea to the launch at SBC Summit Barcelona in September, which I think is incredibly fast for the development world. Essentially, the solution we have brought together is designed to address the integration problem.
In the industry, every player has their own proprietary standards that they are using, and therefore every bookmaker if they want to have multiple odds providers must undertake a lot of technical work. What we do is perform this work ourselves. Per provider, we build internally components which unify the feed and proprietary standard into one single standard, allowing us to offer the odds to our customers in a predetermined format but still accessing multiple different providers.
It was a difficult few months but we have a great product and engineering team in-house. Not having to outsource development means we can work on things at great speed, unlike other companies in our space.
As a first of its kind product, what challenges did you face?
Te diversity of the industry is a big one from both a provider and customer perspective. Tere are different standards and patterns that emerged which we had to make a critical assessment of which ones are good and bad, combining them and keeping with the industry
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