- Different sports betting types appeal to different states, a study done by Betgenius has found.
- The results of the study were submitted to the land-based casinos that use Betgenius sports betting platforms to help the businesses better understand the needs of the sports bettor entering their facility.
NEW YORK – Sports betting product provider Betgenius, has offered up a study to casinos showing how their sportsbooks could capitalize on the industry as the comeback of sporting events grows closer.
Betgenius is a part of the Genius Sports Group, providing their services in twelve states where land-based sports betting occurs in seven of them. The study combed through the activities of the locations in the seven states and their history of sports wagers placed since 2019.
What’s In A Study?
“Unmissable: The return of U.S. sport / How to maximize your on-property sportsbook margins” was given to all casino owners affiliated with Betgenius. The sportsbook provider studied $50 million worth of bets taken across the seven states at retail sports betting venues. It clearly explains on paper the trends on wager types and patterns that were seen while studying the books at their properties.
The purpose of this study not done simply to show casinos what works best for their gambling on sporting events operations.
It also reiterates that Betgenius has the particular skill set to provide the proper services specific to their demographic to amplify the amount of activity and potential profits from their sportsbooks when major league sports come into full swing soon.
“Following an unprecedented dormant period, land-based casinos have a significant opportunity to maximize the revenue potential of the action-packed sporting calendar that lies ahead,” said Bill Anderson, SVP US of Genius Sports Group with the report.
“A large driver of this success will be about timely, data-driven outreach and tailoring the sportsbook experience. Knowing how local patrons bet and the sports and selections they like will allow operators to curate the right messages, optimize their offering, and ultimately drive loyalty.”
Sports betting is the most prevalent in terms of large wagers across the board in New York and Pennsylvania. States on the coast showed the most interest in gambling on sports via report findings.
But in states like Mississippi and Arkansas, the amount of money wagered is far less per bet with the parlay being the biggest pleaser among sports bettors in those states.
The single commonality that was found in all seven states was the popularity of live in-game betting. More bets were placed through live in-game wagers than before the start of a match.
Not surprisingly, betting on the NFL was also shown to be number one, followed by golf, and then the NBA. The biggest gambles played were centered on NFL live in-game bets.
Gambling live showed that there was a huge increase for the second half at 42% while the first half saw only 2% for live wagers. This is a tactic done by sports bettors all the time to hedge their bets during a game. And from that tactic, the study offers an innovative way to increase the handle of an event to its casinos.
“Pricing half-time specials based on the live game narrative is a proven way to drive NFL handle via kiosk on property,” the report informs its businesses.
Sports Betting Is Making A Comeback
Betting on the NFL has always been known to be the most gambled on sport with any sports betting platform. The study only verifies that fact further.
Football will be coming back in the weeks ahead which is another reason why Betgenius released its findings to their casino partners. Understanding what their sports bettors are most interested in will allow them to offer more of those types of bets in an effort to profit even more on the industry’s comeback.
With sports finally scheduling events after months of being on hiatus due to the Coronavirus Pandemic, the action that sportsbooks will see is expected to be heavy.
Should casinos take the advice of the study into account, their profit margins could be that much larger. States across the nation are currently in different stages of reopening their casinos and corresponding sportsbooks.
Betgenius locations in Pennsylvania, Arkansas, and Mississippi have reopened their retail gambling establishments and can begin implementing the findings of this study toward their sportsbook strategies.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.