The sports betting market in the US is developing at a rapid pace and everyone is trying to get their slice of the pie.
Whether it’s sportsbooks starting operations in new states, big-time companies like William Hill taking over competitors, or athletes such as Giannis Antetokounmpo trying to capitalize on the development of the market by registering a trademark for gambling use – sports betting news is everywhere right now.
Sports teams and leagues are also striking partnerships with bookmakers, and bookmakers are trying to make their products as appealing as possible with data from the leagues. And this is what today’s news is all about.
Read on to find out what Penn National’s partnership with Sportradar means in practice.
Penn National gets access to NFL data on their betting platforms
Sportradar is a global content and data provider that will provide Penn National with access to live play-by-play NFL data for their sports betting platforms. Basically, this means that customers of Penn National will have a variety of live in-game betting options available for NFL games, perhaps already by the start of the football season.
Having access to this sort of data for the most popular sport in the country could be a big competitive advantage for Penn National and could go a long way in capturing a good chunk of the action in these early stages of development in the US sports betting market.
Penn National is currently operating retail sportsbooks in Nevada, Pennsylvania, Indiana, Iowa, Michigan, Mississippi and West Virginia and reportedly have 20 million casino customers.
The company is aiming to get access to mobile betting markets by the time the NFL season kicks off via the upcoming mobile app of Barstool Sports – a site with 60 million fans that Penn National owns.
Sportsbooks partnering up with data providers
Bookmakers are forming partnerships like this left and right and we have covered similar news before.
Back in March, FanDuel announced that they will begin streaming NHL games live in their app. They already had an existing agreement with Sportradar for live content and data.
FanDuel’s GM and SVP, Niall Connell, said in the company’s press release that enhancing the live game and live betting experience is important for their customers. He added that “our goal is to become a one-stop-shop for all sports betting content, and live streaming professional sports like hockey is one of the many ways we are reaching that goal.”
We’ve also covered PointsBet agreeing to a deal with the NBA for access to the league’s official betting data in an effort to provide real-time data and a more immersive betting experience for users.
Besides these agreements, theScore has recently partnered up with the MLB for access to official data on their betting platforms, while DraftKings and BetMGM have similar data and content agreements in place.
The public opinion on sports betting has become positive, the leagues are embracing it, and the competition is ramping up with all of the major sportsbooks making moves like this.
What does it mean for bettors and traders?
In short, this means more opportunities. Early on in the year we predicted the trend of having more in-game options available:
”Live in-game betting has been extremely popular in Europe for years. With sports books receiving real-time data of the games and bettors now being able to wager from their mobile devices, it’s never been easier to make in-game bets. All of the big players in the US are releasing mobile applications, and the number of in-game bets available is set to rise. Besides the ever-updating live odds for the moneyline, the spread, and point total, bettors can put their money on things such as who scores the next points or which team will win the ongoing quarter, for example. ”
In-game markets could prove to be interesting for sports traders, with loads of fans making decisions fast during games based on emotion and intuition. This is exactly the sort of behavior that creates inefficiencies in the market that we can capitalize on.
Competition is also generally good for keeping the market and the odds competitive. More operators in states mean better options for smart investors.
Will we soon have an in-game sports trading system in place? We are certainly always looking at these types of opportunities.
To prepare for the return of sports and to learn everything you need to know about smart investing in the sports betting market, check out our head trader John Todora’s new book – “Zero Correlation Investing – The Score Metrics Secret”. It’s currently on sale for a limited time, so go get yours now!
The ScoreMetrics Lab is the engine that runs the Sports Trading System operation, consisting of a team of researchers and writers who are constantly testing and retesting algorithms. They work hand in hand with our Head Trader and Creator of ScoreMetrics, John Todora to help find new breakthroughs and develop new systems.