All sportsbooks are powered by data but check under the bonnet and you’ll find that not everything looks the same. Just like with a car, using the right parts is key to your brand’s success and finding a provider you can trust is essential to avoid problems further down the road.
The quality of the data is one of the biggest advantages when it comes to partnering with a top-tier sportsbook provider and ensures your business is future-proved. While an industry leader such as Altenar integrates data from more than 20 official suppliers to ensure extensive coverage of worldwide events, other sportsbook providers do not take the same approach to data.
There are ways for suppliers to cut costs and some of their methods may not be apparent at first, but here are some of the processes to look out for and the issues they will cause.
DATA SCRAPING
One alternative to integrating a data feed is to scrape odds from other sportsbooks. This basically involves letting others pay the costs of a premium feed and then utilizing technology to take all the content for free and use it elsewhere. As well as being morally and potentially legally wrong, there are other issues resulting from this approach:
-Time delay: Scraping data from other websites inevitably results in latency, sometimes up to two seconds. While that might not sound much, it makes a significant difference to live bet rejections. If that delay occurs 15-20 times per match, multiply those delays with the thousands of events which are covered and suddenly that’s a lot of money left on the table. That in turn means less revenue for the operator, poor user experience, and increased player churn.
-Delayed settlements: Failing to use official data means a delay in paying out winning bets and a significant increase in bet resettlements, which again can cause frustration for users.
ILLEGAL USE OF OFFICIAL STREAMS
The illegal download and use of streams has grown in many walks of life in recent years, and it is undoubtedly an issue in iGaming. Some scrupulous providers use illegal methods to access official data feeds and risk legal action against both them and their clients.
When it comes to a court case, companies using illegal streams have little defense available, while regulators also take a dim view of such methods. Financial penalties and even the revocation of a license are possible punishments for those found guilty.
DELAYED INFORMATION STREAMS
Speed is king when it comes to sportsbook data and while delayed information streams may be seen as a low-cost alternative to official data feeds, this can prove to be a false economy.
Delays of up to five seconds ruin the live betting experience and limit the in-play betting markets available. More importantly, such a lengthy delay also leaves the window open for savvy bettors to take advantage and exploit the situation.
With live betting becoming an increasingly popular form of gambling, the use of official data has never been more important for iGaming brands looking to provide a user experience which the modern player expects.
Features such as micro betting are the future of gambling experience, with the modern player expecting to watch the action on one device while enjoying a fast-betting thrill on another. It provides the instant gratification that users have come to expect when scrolling through social media, but it is only possible when using the fastest, most accurate data.
Having previously worked in the industry at a micro betting provider and now a Sales Manager with Altenar, Matthew Ferrara knows the importance of official data feeds and is keen to stress the benefits of partnering with a premium sportsbook provider.
He said: “Micro betting is the perfect option for the younger generation who are searching for the instant gratification they receive across all mainstream media platforms. Combining the elements of sports betting and social media will be pivotal for the growth of sportsbooks in the years to come.”