As we start the new Premier League season, bookmakers are clamouring for insight into customer behaviour that will help them hone their product to suit the end-user’s desires and make them a more attractive proposition.
SpiffX, the listed betting exchange with a difference, has released player data from this summer’s Euro Championships for players of its innovative Take5Live product and it provides and interesting snapshot of their judgement.
Take5Live is a simple live betting concept designed to be simple in order to appeal to the sports fan who likes to gamble occasionally. The concept is straightforward, if a player believes there will be a goal scored in the next five minutes, they press a large red button to initiate the bet. Each bet costs 1 euro and pays out at 4/1 if successful.
Activated via web app, Take5Live is a casual gambling product that allows people to make a bet effortlessly while enjoying watching match.
Official data from the European Championships shows three spikes in goal times – between 31-45 minutes, between 46-60 minutes and between 76-90 minutes.
Interestingly the distribution of bets for Take5Live players is quite uniform during the course of a match, with a small dip in the first 15 minutes and between 61-75 minutes. However things change in the final 15 minutes, which sees at least 50% more bets struck as players get fully involved in the game and, in a tournament setting at least, teams get more desperate to score and take more risks to get a goal.
SpiffX’s Claudia Farrugia commented: “Given that the official stats show there was only 2.12 goals per match, the opportunity to make money on live goals in this way is clear. While the potential of a goal is always tangible, and actual score is far rarer.
“The unique nature of our Spiffindex exchange, combined with the liquidity of our Darkpool exchange, means we can offer innovative products such as Take5Live not just to our own customers, but to B2B partners wanting to offer a different type of football bet in a crowded market.”
Drilling down the Take5Live numbers a little further and there are definite identifiable flurries of bets within a couple of minutes of the start of the match and the start of the second half. It seems players are eager to get involved in having a bet early on in a game to keep it interesting. The second half punters have much better chance of winning though – more goals were scored in the 46-60 minute than any other period during the Euros.
All in all, the most popular moments for punters to bet that there will be a goal in the next five minutes are the 40th minute, the 55th minute, the 78th minute and the 84th minute.