In-game wagering, also known as live betting, significantly drives sports bettors to spend more money, according to a new report.
Optimove Insights analyzed 2024 live betting trends in Greece, Italy, Spain, the UK, and the US, finding that on average, in-game wagering accounted for 54% of sports bets placed. Greece led the market with 70% of bets placed on live wagering, while the US ranked fourth at 52%. In the US, where live betting is a newer phenomenon compared to more mature sports betting markets, bettors are clearly allocating more cash to in-game wagers.
“The U.S. led the way with bettors averaging the highest monthly live betting amount of $1,583.90 versus $846.20 for pre-game (match), an 87% increase,” notes Optimove.
The research firm also found that bettors who actively place in-game wagers bet more on average per month than those who focus solely on pre-game bets.
In-Game Betting a Big Opportunity for US Operators
The US market for in-game betting has significant long-term potential for sportsbook operators because some American sports are particularly well-suited for this form of betting.
For example, the frequent pauses in action in football – the most wagered-on sport in the US – and the slow-moving nature of baseball make these sports ideal for live betting. Live betting has long been popular in Europe, where slower-paced sports are a favorite among bettors.
In Italy, the average monthly spend on live betting last year was more than quadruple that of pre-game wagering, and it was more than double in Greece. Spanish bettors spent nearly twice as much on in-game wagers as they did on pre-match bets.
“This analysis illuminates the growing importance of live betting in driving player engagement and revenue for sportsbook operators,” adds Optimove. “With live betting accounting for over half of the total bet amounts in most markets, it is clear that real-time, dynamic betting experiences resonate strongly with players. Moreover, the higher average spend by live bettors highlights the potential for operators to enhance player lifetime value through targeted, timely personalized messages to players.”
In-Game Betting Expansion Could Spark M&A Activity
Live wagering offers gaming companies significant profit potential, but technology is essential for maximizing that potential. This could lead to increased consolidation activity as gaming companies look to bolster their in-game betting tech capabilities. One primary challenge facing sportsbook operators is solving for latency.
Low latency is crucial technology for sportsbook operators aiming to capitalize on in-game wagering. This technology moves faster than traditional broadcast feeds, allowing gaming companies to accurately price live bets.
Various surveys suggest that Bet365, DraftKings, and FanDuel score well in terms of live betting technology, but the field is open for other gaming companies to make inroads.
