Watching sporting events is often brought to a new level of excitement when the viewer has put some money down on the outcome. The NBA playoffs began recently. Millions of eyes glued to the screen in what is bound to be an already intense set of affairs. The thrill of watching is heightened by placing a bet.
This is all something that takes place before the game begins and often ends there. However it is said that we will see a shift in the near future.
SOFTSWISS Sportsbook statistics demonstrate that 66% of bets are placed during live events, with only 34% being placed in advance. This adds weight to the technical sustainability of platforms and drives the need for high quality live broadcasts.
Sports, especially across the US, Canada, and LATAM, offers an excellent setting for in-play betting, given the fact that they all have short breaks during play, offering sports bettors small windows to place a wager.
Players need to stay on top of the latest updates from the events they are interested in, in order to place in-play bets. But, most of them don’t have the luxury of attending or watching the event themselves. Enter real-time sports feeds, a “bet as you go” solution allowing players to have the same betting experience as if they were watching the game live.
But in order for players to be able to enjoy real-time updates, operators need to ensure their technology really is real-time.
What is Real-Time?
Real-time data ingestion is the process of collecting, processing, and analyzing data in milliseconds as it is produced by various sources.
This involves the use of specialized software tools and technologies, specifically designed to process large volumes of data quickly and efficiently.
To say that you deal with data in real-time means you must be receiving and processing data as it is generated, with little to no delay. As a result, this should provide your clients with insights that are used to make decisions and deploy campaigns in real-time.
Some providers claim to have real-time capabilities, but actually don’t have the ability to use real-time data to help their players communicate with their users effectively.
This is down to their use of batch-based systems to process their data.
Real-time vs Batch Data Processing
There is a significant difference between these two systems for data processing. Only one of them should be used to support true real-time capabilities.
These are systems that process and analyze data as it is generated in real-time. Essentially, real-time systems means that data is ingested and ready to use in milliseconds, not hours.
There are also a few steps involved in the process. However, the ability to handle high volumes of data and carry out that process in real-time is what makes it so useful for informing campaigns.
The data you use, and your understanding of your customer’s behaviors, is constantly being updated with this system.
Batch systems are capable of handling large quantities of data. It’s what they are designed for. However data is collected, stored and processed in groups, or batches, rather than on a continuous basis.
The approach does allow for the quick processing of large amounts of data, however it involves several steps. Meaning that you can be waiting a while before the process takes place.
This means that the data you end up using to inform your customer communications is old and irrelevant by the time you get it.
What are Real-time Sports Feeds?
Real-time sports feeds are fast becoming a crucial aspect of the sports media landscape, not just when it comes to betting. They allow fans to follow a game in real-time without having to be physically present at the venue or rely on news outlets.
The stream of live updates, statistics, and scores from ongoing sporting events being delivered in real-time is becoming increasingly popular with sports fans. Especially with those placing bets.
When it comes to betting, real-time sports feeds keep players engaged throughout the whole event. It can encourage in-play betting rather than have them end their session with you as the event starts.
In-play betting is growing into the go-to betting format for the modern player. People are beginning to think and react faster, seeking instant gratification rather than wait for their results at the end of a game or match. Real-time sports feeds support players looking for short term outcomes when they put down a wager.
If you think in terms of the NBA, NFL, NHL, MLB, or soccer, there are so many different outcomes you can get in a short space of play. Things like which team will score next, which player will commit the next foul, or who will score the most points in the next quarter or half are just a few examples of popular in-play bets.
For players, receiving sports updates in real-time makes their experience a more immersive and personalized one. It helps them assess the current state of the game and make more accurate predictions about the outcome. What’s more, real-time sports feeds come with very simple opt-in or out options.
Operators have to start matching the increasing level of player reaction times. Providing real-time sports feeds and in-play betting options is no longer a “nice-to-have” and hasn’t been for a while now. Operators need to have this available to payers or else they will go elsewhere to get live updates.
Data is absolutely essential to providing this experience to your players. Sportsbooks need to have access to comprehensive data sets that are delivered in real-time. Without real-time capabilities that cover all types of sports and outcomes, in-play betting becomes impossible to provide.
Driving betting stimulation and frequency should be a key goal for sports betting operators looking to foster player engagement and increase profitability.
How do Real-Time Sports Feeds Drive Player Engagement and Retention?
Operators need to start shifting their focus beyond acquisition to retention. Of course, acquisition plays a vital role in growing any business, but long term success comes from building up a loyal customer base.
Real-time sports feeds are a powerful tool when it comes to driving player engagement and retention.
With players looking for instant gratification when it comes to betting, real-time sports feeds offer immediate updates on scores, statistics, and other relevant information related to a particular sports event. Allowing players to bet during games based on live results keeps fans engaged and interested in the game, while also motivating them to continue following the team on your app in the future. News sites and mobile apps that break the news first tend to win the eyes of the reader. It’s no different when it comes to sports updates.
Customers in any industry expect their experience to be tailored and personalized to their wants and needs. Real-time sports feeds can be personalized to meet the specific needs and interests of individual fans. For example, they can choose to receive updates on their favorite teams, or on specific types of events, such as home runs or touchdowns. This level of personalization can help to build a stronger connection between fans and their favorite players.
Overall, players want to feel like they are part of a community and not just a number to operators. Real-time sports feeds can help to build that sense of community among fans. Social media platforms, online forums, and chat rooms allow fans to connect with one another and share their opinions on the game. This can help to create a more engaged fan base, which can in turn drive player engagement and retention.
As a whole, retention has become increasingly difficult for operators. Real-time sporting feeds is the solution to help you stand out from the crowd to keep your players engaged and loyal.
If you want to know more about how real-time sporting feeds and data capabilities can boost player engagement and retention, get in touch with the team today to book a demo.
We will also be at the Canadian Gaming Summit! So book some time with the team, or come meet us at stand H131.