Agnes Wasikowska, Director of Product at Bayes Esports, outlines the ways that sportsbooks can remove some of the complications associated with esports betting and how this can ultimately help build engagement with new players.
Esports betting is showing immense potential for sportsbooks looking to expand their portfolio. With hundreds of millions of fans watching and selling out arenas for esports fans worldwide, the interest in engaging esports betting options is expectedly high.
Translating that interest into a successful esports betting offering, however, has proven to be challenging for sportsbooks. For one, new esports titles appearing on a regular basis and the popularity of those titles changing from region to region makes it difficult for traders to calculate accurate betting odds that cover the entire market.
After all, traders would need to be experts in a variety of different game titles and stay on top of the frequent changes of the esports landscape within those titles as well. Without that expertise, evaluating different markets and calculating accurate odds becomes increasingly difficult.
Instead of looking for an odds provider that would grant them coverage of a large portion of the esports market, sportsbooks instead could turn towards specialized providers that provide highly accurate odds for a small esports subsection. This, however, would mean that they would have to integrate with multiple different providers in order to be able to offer a comprehensive esports coverage.
Integrating with multiple providers would cause high overhead costs, as every provider would use a different API and have different standards for their monitoring and reporting. Thus, many sportsbooks instead resort to just covering the highest-profile tournaments in esports, cutting overhead costs, but also missing out on smaller game titles and tournaments that might be relevant for their audience.
Furthermore, sportsbooks are struggling to retain esports bettors on their site. Esports matches are typically very fast-paced with little to no downtime. Punters that bet on esports in a lot of cases only place an initial bet and then return to the broadcast to get back into the action. As they don’t want to miss a crucial moment in the game, they rarely, if ever, return to the betting site during a match. For sportsbooks, that means a lot of potential revenue is lost because they cannot retain their bettors.
We at Bayes Esports have set out to solve these challenges. Reaching the potential of their esports betting offering should not be impossible for sportsbooks. They should instead be able to offer esports betting opportunities that are tailor made to their audience and that keeps bettors glued to their site.
With Bayes Live Odds and the Bayes Widget and Video for Bettors, we have developed innovative solutions powered by official live data.
Bayes Live Odds: Making sportsbooks more flexible
Our Bayes Live Odds gives sportsbooks access to odds feeds from multiple different providers through one API. This means they can choose the odds package of the provider that fits their needs best without having to go through a separate integration process with them. It also enables sportsbooks to integrate with multiple providers to combine their odds feeds into one package that is tailored specifically to them. To ensure the quality of the odds packages offered on Bayes Live Odds, key metrics of every provider can be accessed at any time, ensuring sportsbooks are able to choose the provider that provides them with the highest quality product.
The flexibility of being able to pick and choose the right odds provider for their specific needs gives sportsbooks the stability to build a lasting esports betting product. Previously, a new and relevant esports would potentially be left out of consideration by sportsbooks to avoid the overhead costs associated with integrating with a new provider. Bayes Live Odds now ensures sportsbooks can expand their esports coverage whenever they need or want to.
Bayes Widget and Video for Bettors: Making esports betting more engaging
Our Bayes Widget and Video for Bettors enable sportsbooks to offer the most complete esports betting experience to their punters. The widget can be seamlessly integrated into the existing interface and offers bettors detailed statistics of the matches they can bet on. This includes both historical and live data that cover everything from previous matches the teams and players have played against one another to an overview of everything they need to know about the live game.
This information can not only influence their betting decisions but also help the sportsbook in retaining bettors on their site. The provided statistics enable bettors to weigh and analyze their betting options, ensuring they remain on the site for longer and place bets more often.
Bayes Video is an embeddable video player that brings the official live broadcast to the sportsbooks. Placing the player right next to the available markets allows bettors to watch and bet at the same time. As a result, bettors no longer have to leave the sportsbooks site in order to catch the esports action.
The widget and video player can be bundled and integrated seamlessly. Combined, they give esports bettors everything they need to enjoy esports to the fullest – from comprehensive statistics to a live broadcast.
Bayes Esports makes esports betting easy. Unlock the full potential of esports by picking the providers that fit your needs and retain your bettors with the power of official live data.
Meet us at our booth SB162 at the SBC Summit Barcelona to see how we can drive your esports solutions.