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Sam Hill Head of Business Development at Betgenius, introduces 3×3 basketball, the latest addition to the Tokyo 2020 Olympic Games sport roster. An action-packed sport, Hill details what makes 3×3 a great game for betting stakeholders.
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3×3 is Played on a half-court, with just one hoop and games that last for 10 minutes, or until one team scores 21 points, 3×3 games are fast, closely contested and momentum can swing in matter of seconds. Games during tournaments come thick and fast – one game every 20 minutes – and half of all games finish with just one or two points difference.
For bookmakers, this new sporting format – much like T20 cricket has done over the past decade – creates an exciting to drive in-play turnover and, crucially, appeal to a younger demographic.
Targeting millennials
All sportsbook operators are faced with the pressing question on what content will attract and entertain a new generation of customers. More than anyone else, millennials expect to bet on fast-paced, exciting action on their mobile with rapid results.
In the past couple of years, eSports has been identified as a solution to this question and now 3×3 is perfectly placed to further bridge this crucial gap between bookmaker and customer. After all, the International Olympic Committee chose to give 3×3 Olympic status largely on the basis that it would make the Games more appealing to a younger demographic.
The sport has a young, mobile and rapidly expanding global fan base, creating hugely exciting opportunities for bookmakers around the world.
“3×3 is widely considered the number one urban team sport, perfect for digital and social media engagement with youngsters and is simple enough to be played anywhere by anybody,” Alex Sanchez, FIBA 3×3 Managing Director said. “With 3×3 basketball’s recent addition to the Olympic track, we are at a hugely exciting stage in the sport’s growth”.
Building on basketball’s strength
Deciphering the level of risk is a key priority for all operators when offering new sports. However, in the case of 3×3, the sport is simply building on basketball’s global popularity.
With its huge number of games, global fan-base, high-profile players and frequent scoring, traditional basketball is already a must-have for bookmakers wanting to engage their customers. And with the high-quality and rich level of data available through official courtside collection, bookmakers are already cashing in on a successful in-play product.
The emergence of 3×3 as a mainstream sport will offer all of this and more. As an abridged form of the game, with less players on the court, closer score lines and a greater emphasis on attacking play, 3×3 offers a myriad of new and exciting markets, such as Race to Five, 10 or 15 Points and Next Team to Score Two Points.
Fast and furious
The rise in popularity of 3×3 basketball is symptomatic of a wider trend in sport, with cricket, golf and tennis also seeing the launch of new, innovative formats of the traditional games. With T20 now a worldwide phenomenon and a significant product for bookies, the likes of FAST4 and Tie Break Tens – both new quick-fire tennis formats – are also worth keeping an eye on alongside GolfSixes.
This shift, while unlikely to replace traditional formats any time soon, is primarily designed to appease spectators and broadcasters, but they are also changing viewing habits and geographies.
Sports betting will ultimately see a knock-on effect and it’s up to suppliers and operators to stay ahead of the curve.
On paper, these events provide the perfect opportunity to combine the in-play product and second-screen experience for a younger demographic. And after becoming the latest Olympic sport, the time is now for operators to engage with the basketball’s latest betting success story with 3×3.
FIBA -3×3 Video
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New Sports development and betting partnerships will be discussed at the upcoming ‘Betting on Sports – #BOSCON2017’ conference (13-15 September – Olympia London). Click on the below banner for more information…
