With the unveiling of its new sportsbook, VSODDS.BET has underlined its ambition to place a greater focus on betting traders, offering only pre-match, fixed odds to players in core markets around the world.
The company’s founder, Dalius Dabashinskas detailed to SBC the strategy for putting these ambitious plans in place by appealing to a more considered sportsbook bettor.
SBC: Could you tell our readership more about the VSODDS.BET offering and how it aims to stand out in the sports betting market?
Dalius Dabashinskas: The aim of VSODDS.BET is to offer pre-match betting odds that don’t simply follow the market. Despite the huge range of operators offering sports betting these days, there is very little variation in the odds available to punters. In most cases, they differ less than five percent. We want to bring back the art of bookmaking and stand behind our own trading team and statistical models. We believe this will attract customers who are looking for something different in what is a large but homogenous market at the moment.
SBC: Are you able to explain what led to the thought process behind only offering pre-match fixed odds on a wide range of sports?
DD: Pre-match and in-play bets are two very different entities. Of course, over the last few years, live betting has grown exponentially and now accounts for around three quarters of all wagers for many major sportsbook operators. But there remains a large market for pre-match betting that is not being well serviced by current products.
It is no secret that operators are suspicious of pre-match bettors. These customers have more time to analyse the match, whereas in-play betting tends to be based primarily on emotion. As a result, live betting carries a resemblance to casino gaming, and the margin for operators is usually higher.
We are appealing to a different type of customer, the type who is more considered in their betting and likes to shop around bookmakers for the best price available. We have confidence in our trading and models, so we can offer our own prices and remain competitive, particularly because the focus will be on the odds instead of promotional offers and short-term bonuses.
SBC: Could you tell us a little more about how only offering pre-match, fixed odds will lead to customers getting better value on these markets?
DD: By providing pre-match, fixed odds and steering clear of the traditional marketing, bonuses and other promotions, we can ensure that VSODDS.BET offers the best value on the market. With our sophisticated trading team and models, we are not afraid to put our neck on the line and offer the odds we believe are correct for the event – regardless of what other bookmakers are doing. This means we will consistently beat other bookmakers when it comes to price on one side of a bet.
Here’s an example. If you want to bet on the winner of the 2018/19 NBA Championship, the market prices the Golden State Warriors at between 1.46 and 1.64 for the outright. However, our NBA market analysis gives the Warriors a considerably lower percentage chance of winning the Championship. In fact, we rate them at only slightly higher than 50 percent, and we’ve priced them up accordingly at 1.9. This is a significant chunk of additional value for those punters who believe the Warriors will triumph, and makes us the best priced on the Warriors winning the NBA Championship in the world.
This situation is replicated every day on individual match markets, as well.
SBC: Can you explain the importance and benefits of traders with regards to VSODDS.BET’s offering?
DD: First of all, the odds. We are using odds as a point of difference and to offer our players even more value than other bookmakers, so we need a world-class trading team to ensure we balance risk and reward for ourselves as well as our players.
An example of this is last weekend’s Formula One Grand Prix at Monza. On the Saturday morning, Sebastian Vettel was between 1.55-1.60 to win across the majority of bookmakers. Our skilled traders, on the other hand, crunched the numbers to offer odds of 1.90-2.03.
Without our trading team we would not be able to offer such incredible value to our players.
SBC: With that variation of your offering being prices, how can you ensure you guard against arbers and punters that aren’t genuine?
DD: There are a few ways we can defend our odds. We carefully select the tournaments, games, matches and races for which we offer odds, and only offer markets that are of interest to genuine punters.
Secondly, we use simulations and event predictions to manage our risk and exposure, and also limit the time when bets can be placed and the amount that can be staked.
SBC: As your offering specialises in pre-match markets, will this allow you more freedom when it comes to maximum bets and account limits?
DD: Absolutely. We know that limits on wagering and winnings frustrate punters around the world. We want customers to be able to back themselves when they spot an opportunity. There is nothing worse than spotting a great pre-match betting opportunity only to be told by an established operator that you are only allowed to wager two euros on the outcome.
Of course, from a business perspective we need to enforce some limits, but we plan to be very generous with these, allowing customers to win between €5,000 and €10,000 per bet, depending on the market and event.