Evolution and innovation continue in the US legal sports betting industry. Heavyweight provider PointsBet is on the board with the newest wrinkle thanks to a deal announced Friday with international sports services provider Genius Sports Group. The new partnership makes PointsBet the first major sports betting provider in the US to add a streaming service to its platform along with all of its accompanying data.
Friday’s deal just may be an indication of just where the US legal sports betting scene is headed. Customers of PointsBet will not only be able to live stream thousands of games in different sports around the world but will be able to bet on those games in real-time on the PointsBet platform. As it stands, PointsBet users in New Jersey, Iowa, Indiana, Illinois, Michigan, and Colorado will be the first in America to get the opportunity to watch live-streamed matches on the PointsBet app or website and bet on those games simultaneously.
At first, the live streamed games will not include major North American sports. Instead, the games and sports included will offer bettors a chance at in-game betting opportunities at off-peak times. The strategy will “allow PointsBet to drive handle and retention around-the-clock, including while the major leagues are out of action,” according to a PointsBet-Genius Sports news release.
The live streaming/betting model being built will be geared toward the recent trend of in-play betting that sportsbooks have become increasingly aware of during the evolution of the platform in North America.
“The average U.S. sports bettor currently shows almost a perfect 50/50 split of placing bets prior to the start of competition versus placing bets in-play,” said Ron Shell, vice president for Customer & Insights at PointsBet USA. “Industry experts and the PointsBet team agree that wagering will trend more and more toward in-play as the U.S. market matures — a natural shift given the consistent overlap of U.S. sporting events, as well as the structure of U.S. sports allowing for micro-markets like the next ‘at-bat’ in baseball or the ‘next drive’ in football.”
More About the in-Play Focus
The US legal sports betting industry is still in relative infancy but can look to Europe for what has been working during their decades of legal wagering. Stats show that about 70% of their handles are due to in-play betting – something that the US is not close to, but is working on to close that gap.
The addition of streaming to a bettors’ overall experience not only seems to be a logical step, but a necessary one as the public continues to move to a more streaming-type viewership model in their everyday lives.
Pointsbet Looking to Separate Themselves
PointsBet seems to be making all the right moves in the US legal sports betting scene. Not only does the provider have a major presence in all of the Heavyweight US wagering states, but they have also worked hard to secure sponsorship deals with every major North American sports league and some of its marquee teams.
A five-year agreement to become the official sports betting partner of NBC Sports has also helped them become one of the biggest players in the US legal sports wagering scene.
Adding a streaming service to their platform only strengthens PointsBet’s status as one of the true groundbreakers in the US scene. Bill Anderson, senior vice president on the U.S. at Genius Sports Group may have said it best when he commented that: “Offering a unique and differentiated betting experience has allowed PointsBet to grow impressively in the U.S. over the last two years. With competition fierce, standing out in the market is more important now than ever, and our Streaming service provides an exciting and powerful way to do that.”