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SPORTS BETTING
WHAT ’ S YOUR EDGE ?
US sports betting is entering a new phase as the quality of the competition ramps up . How then can operators carve out a niche in this market ? Cole Rush investigates
W elcome to 2024 , the year PASPA ’ s downfall turns six . While an important milestone , PASPA now seems more like a distant image in our collective rear-view mirrors .
The proverbial talk of the town is , instead , the next era of sports betting . We ’ ve got long-time leaders , new competitors and rebranded standbys making a play for pole position . Behind the scenes , suppliers and third-party services are moulding the next phase of US sportsbooks . One question emerges : what will US sports betting ’ s next evolution look like ?
Experts spanning various parts of the sports betting world – operators , suppliers and more – have contributed to this article by sharing their outlook for a new era in US sports betting .
SPOTLIGHT ON THE NEW AND NOVEL
Circa Sports CEO Derek Stevens emphasises the relative youth of US sports betting .
“ The one thing to me that stands out is that sports betting , as an industry , is still in its infancy stage ,” Stevens says , before stressing that it appeals to a broad church . “ There ’ s a home for every sports bettor , depending on their preferences . Say you go to a new city and want to grab a bite . There ’ s a steakhouse , a seafood place , Italian , Chinese , Mexican and so on . There ’ s always something to suit your particular niche .”
Circa ’ s niche is a low-hold model that can take larger wagers than some competitors , according to Stevens . His points lead us right to the launchpad for any discussion of the next era of sports betting . Stakeholders on every side of the industry must find their niche and offer something new to bettors .
US sports betting is now a crowded and rapidly expanding space . Carving out a niche with something novel is more important than ever .
ROUND THE CLOCK COVERAGE
Jake Nowry , sales and business development manager at SIS Content Services , manages the company ’ s North American esports and fixed odds horse race betting presence .
Nowry says : “ The primary way an operator can differentiate from the competition in the US market is by offering a diversified portfolio of 24 / 7 content .”
Naturally , this 24 / 7 coverage will include the usual suspects : [ American ] football , basketball , baseball , etc . According to Nowry , it is by adding more specific content that sportsbooks can make a mark .
“ Look at esports . We have an event-based sport simulation product similar to real-life soccer and basketball , utilising esoccer and basketball . It ’ s an additional betting vertical specifically created to meet the need for sportsbooks . The betting markets are the same as real soccer or basketball .”
Such offerings can fill gaps in markets , especially when popular sports are out of season .
NEW VERSIONS OF OLD PRODUCTS
One of the defining factors of the past few years has been the advent of same game parlay ( SGP ). Mark Nerenberg , COO of Simplebet , notes that SGPs and their kin have been a uniquely American success .
“ The demand for the SGP from US consumers is far greater than anything overseas due to scoring and cadence in US sports ,” he says .
Simplebet focuses on micro-betting – markets that zoom in on a particular event such as a single
48 • ISSUE 135 • ICE LONDON 2024