SBC News Voice of the Sports Betting Industry
Simon Noy, SVP Trading at Kambi, explores how harnessing deep network data is the key to unlocking greater returns for operators.
The fundamentals of the relationship between bettor and bookmaker have been broadly settled since the advent of online and mobile sports betting. The introduction of in-game betting and cash out in the 2010s heralded the advent of ongoing interaction over the lifetime of a bet, replete with more frequent touchpoints, though the core of the experience has remained fairly similar.
The growth exhibited by bet builder has been the most significant expansion of the core product to have taken place in recent times, with the most advanced giving end users the ability to combine bets not only within the same event, but also across different leagues and sports.
However, what Kambi is now observing across our partner network is a shift in user behaviour towards the kind of products only complex algorithms have the capability to properly deliver – informing the launch of Kambi’s AI-driven trading division, Tzeract. But before expanding on the revolutionary potential of AI in sports betting, it is worth emphasising the value of having a deep wealth of data to observe and inform sportsbook product strategy, and how to effectively marshal that data in delivering the fundamentals of a satisfying sports betting experience.
Harnessing the full potential of data
All the advancements that have been made and those that sportsbooks across the globe are currently striving to deliver place importance on nailing the fundamentals of trading and risk management.
No sportsbook wants to find their ability to offer products such as bet builder curtailed by an inability to successfully price and manage the risk of bets placed on large, inter-related combinations – a factor which is especially pertinent as player appetite for complex products of this nature grows. The challenge of offering advanced functionality such as multi-sport capability within the bet builder, by way of example, also represents a huge challenge at a structural and technical level. This is why so many sportsbooks fall short of the required standards. It needs a high level of quality in technology, as well as confluence of processes in data and product development.
To zoom in on that particular point, it is undeniable that depth of high-quality data, and the systems and expertise required to interpret that data correctly are foundational to the successful delivery of ever more advanced sports betting products.
This is equally true when launching into new markets. Doing so from a standing start, without a deep array of data to inform on everything from player preferences and favourite sports to the most effective bonus offers, is unlikely to be the first step on the road to long-term success.
Operators can benefit vastly from having a sportsbook with a global overview of player behaviour. A sportsbook receiving betting data from Colombia can offer that league to a higher standard to mature bettors in the US or Europe, to offer an example.
Kambi supports a partner network of more than 40 operators on six continents, offering us a more complete understanding of the user journey than any other sportsbook. When partners launch products with Kambi, they do not do so from a standing start. They do so with the full benefit of our years of operational experience and vast depth of network data to draw from.
Taking Brazil as an example, Kambi’s support of market leaders in neighbouring markets such as Argentina and Colombia means we can harness deep network data in developing a product catering to customer preferences across the region.
Every bet placed on the Kambi network is utilised to support and refine our delivery for every partner – regardless of whether that partner took the informative bet themselves or not. Each interaction an end user has with a Kambi partner enables us to construct a clearer picture from which to refine everything from the development of new products to our performance of fundamentals such as trading and risk management.
Many of these products are available as individual modules, such as the Kambi Bet Builder and our odds feeds via Tzeract. Where other feeds and standalone bet builders have been developed separate to the core sportsbook, presenting operational challenges such as incongruities in pricing, Kambi’s benefit from having the full sportsbook view.
The tight integration with the core product significantly strengthens the data and support afforded to modules such as the Kambi Bet Builder, while at the same time offering partners the independence required to fully leverage those benefits to deliver products their players desire.
No matter how the core sportsbook and associated products evolve, the core fundamentals to successful delivery will remain good pricing, which requires deep data and effective means of marshalling that data. Only with a vast well of data to draw from can sportsbooks effectively deliver the products end users want.
Kambi’s Festival of Sportsbook is back for 2024 – you can view the full agenda and register for sessions here.
