Basketball betting is experiencing unprecedented growth, with data suggesting that Americans will wager more than ever on the upcoming NBA season. In 2023, NBA fans wagered 3.7 times more than the average American bettor, showcasing the sport’s significant draw (1). Moreover, basketball is the favorite sport among Gen Z bettors in the United States (2). As the official NBA partner since 2016 and the exclusive worldwide distributor of NBA data, Sportradar is uniquely positioned to support sportsbooks in navigating the following betting trends.
Live or in-play betting is rapidly becoming the bedrock of sports wagering, projected to account for 75% of all US sports bets by 2025 (3). A notable driver of this phenomenon is micro betting, expected to generate up to $3.3 billion in gross wins for sportsbooks by next year (3). The NBA’s stop-start nature makes it perfect for this type of betting, allowing fans to wager on specific actions like whether the next shot after a timeout will be a two- or three-pointer.
Sportradar’s Solution: Our Micro Markets ensure that fans remain engaged with continuous betting opportunities, offering new bet cycles every minute and settling wagers within five minutes. This caters to the common betting behavior in the US, where approximately 85% of bets are under $5, aligning perfectly with the trend towards smaller, more frequent wagers. This trend also supports the growth of same-game parlays, typically ranging from $5 to $20.
The rise of in-play betting has accelerated the demand for real-time, ultra-accurate data, with nearly two-thirds of bettors seeking immediate team or player statistics to inform their betting choices (4). Rapid access to data is therefore essential.
Sportradar’s Solution: Our Live Data Service operates within a second of on-court action, automatically delivering data from the arena to a customizable widget-based interface. This instantaneous data underpins our Alpha Odds service, which combines sportsbook liabilities with game probabilities and customer betting behaviors to optimize revenue. Moreover, our Pre-Game Odds service is noted for its accuracy, forming part of our comprehensive Odds Management service.
To enhance the bettor’s experience, our Statistics provide the necessary information to make informed bets, whether in-play or pre-game. Our Bet Insights widget also offers intriguing game narratives across different markets. Additionally, our emBET service, integrated with NBA League Pass earlier this year, feeds real-time betting content like point spreads, over-unders, and money lines directly into live streams, creating an immersive betting environment.
Today’s sports fans crave personalization, extending this desire to their betting experiences. Bettors now expect tailored content and suggestions that align with their interests and behaviors (5).
Sportradar’s Solution: Our VAIX Sports Personalization service employs AI technology to offer a fully tailored betting experience for each individual user, from personalized content to related bet suggestions. Our Personalized Betting service can recommend wagers based on individual preferences and behaviors, such as advising a New York Knicks fan who regularly bets on top scorers to place a wager on Jalen Brunson scoring more than 30 points.
Furthermore, our Custom Bet service allows customers to combine up to 10 bets into a single ticket from over 100 markets, covering aspects from top scorer to final game result, available for both pre-game and in-play betting. This taps into the growing appetite for same-game parlays and multiple bets.
Gen Z’s strong connection with individual NBA stars is shaping betting markets. Forty percent of Gen Z adults have a favorite NBA player – the highest percentage among major sports leagues (6). Despite this, only 2% of basketball wagers are currently player props, indicating a significant growth potential (6).
Sportradar’s Solution: Our Player Markets offer extensive pre-game betting options on points, rebounds, and other performance-related metrics, fueled by exclusive access to NBA optical-tracking data. This not only includes burgeoning stars like Victor Wembanyama but also established titans such as Nikola Jokic, thereby catering to fans’ and bettors’ preferences.
With nearly two-thirds of US-based online sports bettors holding multiple accounts, sportsbooks must focus on engagement and loyalty to stand out (7). Engaging content and personalized experiences are pivotal in retaining customers.
Sportradar’s Solution: Our emBET streaming product enriches user engagement through interactive content, including advanced team and player insights, polls, voting, and trivia widgets, plus real-time betting information.
Moreover, our Streaming and Live Match Tracker services provide data-driven coverage and innovative visualizations to complement the betting experience. Alongside this, our ad:s Marketing Services utilize powerful Engagement Tools to ensure premium, contextually relevant adverts lower acquisition costs. Our AI-driven CRM services offer more than 95% accurate customer insights, identifying preferences and behaviors to enhance engagement strategies and bolster loyalty.
Conclusion
Keeping pace with evolving trends is crucial for betting operators. Leveraging advanced data and technology is key to meeting bettors’ dynamic demands. Sportradar offers unparalleled tools to help sportsbooks capitalize on these trends, ensuring customers remain highly engaged from the first tip-off to the final buzzer of the new NBA season.
Contact us today to learn more about how Sportradar can help you optimize opportunities for the 2024-25 NBA season.
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