“We know the technology is there,” he said. Kevin Fulmer, vice president of digital sports for Caesars Entertainment, agreed the new technology presents new opportunities for gambling companies. “How do you make that something that happens in-game and predicts the next run?”
“Say the (Golden State) Warriors are down 15, and then Steph (Curry) gets hot and the score is then tied - how do you build something around that?” he said. Those bets are made before the game starts, but Kaufman-Ross said the league is interested in crafting similar betting markets during the game to let customers bet on the next sustained run of points. Many sportsbooks currently offer so-called “race-to” bets, in which a customer bets which team will be the first to score 8, 10, 15 or more points. One betting market the NBA has become interested in is in predicting team streaks. “Our game is so fast you could have three possessions in the span of eight seconds,” he said. Scott Kaufman-Ross, vice president and head of fantasy and gaming for the NBA, said microbetting is well suited for basketball's rapid style of play “because there are so many changes in scoring.” We approach microbetting the same way: You allocate $20 or $50 or $100 to make $2 bets on a pitch.” “I may be one of this industry's only executives that says the house always wins and that customers should expect to lose over the long-run,” he said.
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Levy, the Betr founder, said companies that offer microbetting need to do it honestly, with full disclosure of risks. People can get in this trance-like state where they just try to stay in action, and bet over and over again just to feel that same kind of high.” “You can get a hit of dopamine every few seconds it's more akin to playing a slot machine than betting on sports. “That heavy frequency is associated with gambling problems,” he said. He offered the hypothetical Aaron Judge bet as an example of what could be coming soon to the smart phones of gamblers around the country.Īnd that worries Keith Whyte, executive director of the National Council on Problem Gambling, who says the rapid-fire nature of microbetting flies in the face of responsible gambling behavior. He said he believes microbetting could become the preferred way for people to bet on sports before long.
“It introduces instant gratification to the sports betting experience,” said Joey Levy, the company's founder and CEO.
It's going to be a really popular bet going into the future.”īetr, a new microbetting company that is currently live in Ohio and Massachusetts, is building its business around the concept. You're going to get more play, longer sessions. “You don't have to wait very long for your bet to settle. “Customers are immediately engaged in the bet,” said Mark Hughes, chief product officer for PointsBet. Similar bets are already offered in football, most commonly on whether a team's possession will end in a touchdown, a field goal, a punt or a turnover. Still to come are bets on the speed of the next pitch. In baseball, for example, companies currently offer bets on whether each bater will get a hit, walk, be hit by a pitch, strike out or get an extra base hit, up to a home run.īut it goes deeper than that: Many now let gamblers bet on whether the first pitch of the game, or of a particular inning, will be a ball or a strike, whether it will be put into play as an out or whether it will fall for a hit. Microbetting is a subset of that a quick, intensely focused bet on the next play or even the next pitch. In-play betting, or bets made after a sporting event begins, is an established segment of a fast-growing industry.
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