As the NBA and NHL seasons tip off, sportsbooks have a golden opportunity to capitalize on the growing trend of live betting. By leveraging real-time data and sophisticated tools, operators can enhance live betting experiences and may boost profits. In this blog, we’ll show you how to maximize your live betting opportunities for the upcoming NBA and NHL seasons using real data and practical insights.
The Value of Live Betting: Real Data Insights
Live betting has seen remarkable growth in both the NBA and NHL, proving to be an essential component for sportsbooks looking to increase engagement and profitability.
In the NBA, live betting turnover soared by 29.4% from 2023 to 2024. This significant rise highlights the growing preference for real-time wagering opportunities. In 2023, live bets accounted for 66.2% of total bets, compared to 33.8% pre-match bets. Although 2024 saw a slight shift—with live bets making up 61.9% versus 38.1% pre-match—the inclination towards live betting remains robust.
The most profitable NBA markets include:
Similarly, the NHL has experienced substantial growth in live betting, with turnover increasing by 24.9% from 2023 to 2024. In 2023, live bets constituted 55.6% of total wagers, while pre-match bets made up 44.4%. By 2024, live bets climbed to 58.5%, further distancing themselves from the 41.5% pre-match.
Top NHL markets by turnover include:
These data points reveal the key markets that can optimize profitability and engagement for any sportsbook.
When Are Live Bets Placed?
Understanding when bets are placed during games is crucial for optimizing live betting strategies. In the NBA, in-game betting peaks during the 1st quarter (19.23%), 3rd quarter (18.78%), and 4th quarter (18.79%). For the NHL, the 3rd period sees the highest activity at 28.10%, followed by the 1st period at 21.93% and the 2nd period at 19.72%.
Top Teams and Players to Bet On
In the NBA, popular teams include the Dallas Mavericks, Boston Celtics, Denver Nuggets, Minnesota Timberwolves, and Los Angeles Lakers. Key player bets focus on Luka Dončić, Jayson Tatum, Nikola Jokić, Giannis Antetokounmpo, and Stephen Curry. In the NHL, the top teams are the Edmonton Oilers, Florida Panthers, Vancouver Canucks, Dallas Stars, and Vegas Golden Knights. Popular player bets include Connor McDavid, David Pastrňák, Leon Draisaitl, Sebastian Aho, and Auston Matthews.
How to Optimize Your Live Betting Strategy
Leverage Advanced Tools
Utilize Sportradar’s Alpha Odds to customize your odds based on real-time data and specific liabilities. For example, during a live NBA game, if a team is down by 10 points at halftime but has a history of strong comebacks, Alpha Odds can adjust the in-play odds to reflect this, attracting more bets and optimizing profit margins.
Vaix helps create personalized betting experiences through AI-powered insights. Imagine offering a bettor personalized notifications for live betting opportunities featuring their favorite player, such as Luka Dončić, when he’s close to achieving a triple-double. These insights engage the bettor more deeply and encourage more frequent betting.
Insight Tech Services and MTS enhance risk management with automated player profiling. For instance, if a bettor consistently wagers large amounts during the 3rd quarter, MTS can flag this pattern and adjust limits or offer tailored promotions to manage risk while boosting betting activity.
Capitalize on Popular Bets
Focus on high-turnover bets like Winner (incl. overtime), Handicap, and Total for the NBA. For example, an NBA game featuring the Los Angeles Lakers can see a significant uptick in live bets for Winner (incl. overtime) if the game goes into overtime and LeBron James is in top form.
For the NHL, prioritize bets on Winner (incl. overtime and penalties), Period – total, and Next goal. A game between the Edmonton Oilers and the Vancouver Canucks might see high engagement in Next goal betting, especially when Connor McDavid is on the ice, given his high propensity to score.
Focus on Timing
Align your marketing and betting options with peak betting moments during each game to maximize engagement and profitability. In the NBA, promotional pushes and special odds can be offered during the 3rd and 4th quarters, when live betting activity is at its highest. For the NHL, targeted promotions during the 3rd period can capture the highest volume of bets given that 28.10% of live bets occur during this period.
Offer the Latest Gaming Options
Provide a diverse iGaming catalog to keep customers engaged beyond traditional sports betting. For example, introducing virtual sports and casino games during breaks in live sporting events can maintain bettor engagement. Offering live streaming of games with integrated live betting options can also create a seamless, immersive betting experience, encouraging continuous participation.
Real-Life Example
Consider a live NBA game where the Denver Nuggets are playing the Boston Celtics. Jokic is having an exceptional game, approaching a triple-double by the end of the 3rd quarter. Using Sportradar’s tools, you can adjust the odds for Jokic hitting a triple-double, triggering more in-play bets. Meanwhile, sending targeted notifications to bettors interested in player-specific bets via Vaix can further maximize engagement.
In an NHL example, suppose the Edmonton Oilers are playing the Florida Panthers, and the game is tied going into the 3rd period. Offering enhanced odds on “Next goal” for high-profile players like Connor McDavid can capture the high volume of live bets typical in the 3rd period, optimizing both engagement and profitability.
By leveraging Sportradar’s suite of products and understanding key betting trends, sportsbooks can maximize their live betting success for the NBA and NHL seasons. Contact us today to discover how our solutions can drive your live betting profits higher this season.
