Paolo Personeni, Managing Director of Sportradar’s Managed Trading Services (MTS), describes the company’s recent acquisition of Optima – and why a “one-stop-shop for all sportsbook needs” is the perfect solution to the shifting demands of global markets.
There’s no doubt today’s sports betting business is lucrative, and it’s becoming even more so, especially as markets continue to realise the opportunities and advantages of regulated sports betting and make moves to legalise. Setting up a sportsbook or enhancing an existing one can be a cumbersome and expensive operation.
Especially given there are so many transitional elements within gaming markets across the world. Such elements can include changing or introducing legislation, staying ahead of the latest technology and trends and responding to market and business changes, to name just a few.
The best way to respond to so many shifts is to match like with like, with a solution that is comprehensive yet flexible.
This will ensure an offering stays up-to-date both in terms of its features and functions. Part of the motive behind Sportradar’s acquisition of the Optima platform was due to its technical abilities and customisability.
Ultimately, this is what allows operators to develop a unique sportsbook that is fully responsive across mobile, online and retail, provides the fastest most reliable odds in depth for sports across the globe, while also being able to accommodate a variety of Betting Stimulation and other bespoke features to add to a user’s experience.
Armed with such a platform, operators have peace of mind given it is easy and effective to respond to market conditions, legislation and trends, and enhance their offering where required.
This is particularly important for those bookmakers who are making a solid investment in emerging markets like the US, where change is occurring more frequently.
For example, if and when new licensing opportunities arise in newly regulating states, operators are more readily equipped to innovate and meet local requirements, which is crucial given the differences between the individual states.
The uniqueness and changeability of global markets makes having a one-stop-shop for all sportsbook needs convenient for operators. This also helps them to alleviate questions about where to allocate resources.
With Optima, Sportradar is now a complete betting, trading and platform business. And flexibility is maintained across this entire offering. This means operators can outsource whatever sportsbook function they want, at whatever level, whenever they like.
Again, this is handy in transitioning markets where operators are feeling more pressure because of increased competition.
In addition to a fully-functioning and flexible platform, there are other factors that must be incorporated if sportsbooks ultimately want to gain an edge. At the very basic level, reliable and fast data and trading and risk management are required to ensure a sportsbook can engender profits, whilst protecting it from any losses.
Generating your own odds is one of the most expensive components of bookmaking efforts. It is also essential to have highly experienced traders to analyse a market full of variables and price odds in a way that assists turnover.
Having a reliable team of mathematicians and scientists who are also experts in individual sports at your disposal, is much easier than sourcing these resources yourself.
It’s also a lot easier again for if and when you want to target certain sports, expand your offering with new sports or into new markets.
This is what makes Sportradar’s trading and risk management efforts, or Managed Trading Services (MTS), unique. Operators can rely on a set of traders who are proficient across a range of sports and markets worldwide so that they are able to price competitively whilst helping to protect bookmakers from risks or losses.
And, again, they can adopt this service at whatever level or aspect of their business they need, meaning they can maintain control of certain areas, whilst utilising Sportradar traders in others.
At the heart of any successful sportsbook platform or risk management and trading effort is data and cutting-edge innovation. The more data available the better a sportsbook offering can be.
The benefits of using a platform that comes complete with the most accurate and fastest data all through the one integrated feed are plentiful. With reliable and speedy data, bookmakers and their punters are not only guaranteed a smooth and straightforward process, it also means they can go a step further in having the best and most engaging experience.
Utilising machine learning algorithms and AI can help generate models both for advanced risk management and increased betting markets.
With added data-driven Betting Stimulation features, including Live Streaming, that can all be driven through the one fully-responsive platform, this is a guaranteed way of producing a successful, profit-driving sportsbook that is also amenable to various market changes.