Interestingly, the rise of app-based betting has also changed the types of bets bettors place. While many people associate sports betting with predicting the final score of a match, parlays, which combine multiple bets into a single bet, are also becoming increasingly popular. Bettors love it for its potential for lottery-like payouts, and operators value its high margins.
“The rapid rise of parlays is a hallmark of the rise of sports betting in the United States,” Andrews says. “We expect the prevalence of parlays to continue to rise as in-game betting products improve and the user experience, bets offered and promotions become more personalised.”
Naparst highlights that the rise in in-game wagering could also have important implications for media companies.
“The future of sports betting is a convergence of media, sports and betting,” Naparte predicts. “You’re watching a basketball game on a betting app, and a player is about to hit a free throw. The odds of him or her hitting it pop up on the screen, and the app asks, ‘Do you want to make this bet?’ I ask. That’s where the industry is heading. ”
Looking ahead to Sunday’s Super Bowl, Naparte said the annual event is “very important from a customer acquisition and visibility standpoint.” But he added that since it’s just one game, “it’s not that big from a revenue perspective.” That’s good. These companies are diversified into many sports and events, so even if they fail in one event, they can recover in the long run. ”
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