Insight
SPORTS BETTING Streaming Part III
Charles Cohen, Vice President Sports Betting, IGT PlayDigital
As IGT's Vice President, Sports Betting, Charles Cohen has overall responsibility for IGT's sports betting solutions development and strategy. Mr. Cohen has been involved in the gaming industry since 2004, and sold his company Probability plc to GTECH in 2014. He currently lives in Providence, Rhode Island.
In the third part of our series on streaming and sports betting we talk to Charles Cohen, IGT PlayDigital Vice President Sports Betting. IGT PlayDigital offers a complete portfolio of award-winning digital gaming, lottery and betting products, platforms, and services. Its solutions are flexible, scalable, and backed by a market-leading technology investment programme
The more connected bettors can be with any given match-up, the more likely they are to engage in sports betting particularly in-play where they can see the run of action and make their own judgements about what might happen next. If consumers are no longer required to funnel to a designated location to place wagers, but instead can do it on the train while watching an exciting match, or intermittently while they go about their daily lives, the patron engagement will be stronger.
For more than 10 years, IGT has been providing sports betting solutions in Europe, Latin America, and Asia. Te Company is now making significant headway in the U.S. as a leading platform and equipment provider, with live customers in eleven states – Oregon, Arkansas, Indiana, Iowa, New York, Pennsylvania, Mississippi, West Virginia, Rhode Island, New Jersey, and Nevada – operating both retail and online/mobile sports betting.
IGT recently presented its PlaySports Bank and PlaySports Pod, featuring three self-service betting kiosks topped with multi-media displays that showcase a range of content including live sporting events, betting odds, lines, game day news and more. Self-service kiosks expand sports betting access on the casino floor, providing operators the opportunity to increase wagers taken and reduce wait times associated with traditional ticket windows. Te PlaySports Bank is designed to go against a wall, while the PlaySports Pod can be deployed in a standalone setting. So far IGT has 150+ IGT PlaySports Kiosks installed in the U.S. Tis is
P54 NEWSWIRE / INTERACTIVE / MARKET DATA well-positioned to increase significantly.
The way we are watching sports and how we consume sports content is changing. What impact is streaming having on sports betting?
In Europe, streaming a game within sports betting applications is a big deal, and operators report that it can dramatically enhance in-play wagering. Sports that lend themselves to play- by-play - tennis and golf for example - have the biggest uplifts. Tere is every reason to expect that once this fully enters the US market, streaming can have a similarly dramatic effect.
In retail, IGT has developed a new category of betting kiosks, Te CrystalBetting Terminal, based on featuring video streams from public sources on the same screen as the betting interface. Tis recently entered the market and we're seeing very encouraging early performance. Pictures equal profit.
How does it enhance the sports betting experience for customers?
Te more connected bettors can be with any given match-up, the more likely they are to engage in sports betting particularly in-play where they can see the run of action and make their own judgements about what might happen next. If consumers are no longer required to funnel to a designated location to place wagers, but instead can do it on the train while watching an exciting match, or intermittently while they go about their daily lives, the patron engagement will be stronger.
What are some of the most recent developments in the streaming sports betting space from IGT?
Te star for us right now is our CrystalBetting Terminal that I mentioned earlier. It recently made its market introduction at Pearl River Resort in Mississippi in October 2019. Players can switch channels to watch whatever game happens to be on, right there in the unit, and the betting offer automatically changes to match that game.
Sports streaming adds to the excitement of in- play sports wagering. Having the opportunity to place wagers throughout a game amplifies the game’s entertainment value, even when the actual match-up is sub-par. Streaming can take the weekend’s most lopsided match and transform it to an exciting sports betting opportunity with every point.
How does it help drive revenues for sports betting companies?
Pictures equal profit: streaming within Apps is driving revenue
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