Why Bookies with Live Betting Options are Thriving
The popularity of Sports betting has been on a steady upward trend for decades and showing no sign of stopping. As proof, the sports betting market will be worth over $155.49 billion by 2024 with a 10.30 CAGR. Thus, hundreds of sportsbooks are opening every year but despite these statistics, not all sportsbooks are doing well. However, amongst the ones doing well, it seems that Bookies with Live Betting Options are thriving in comparison.
According to professional bookies and sportsbook owners, revenue from sports betting is all about volume. This is because sportsbooks make a commission from every bet they take. Thus, the higher the volume the more money they make. With this in mind, the more sports betting options available to players, the higher the chance of making more revenue.
When in-game betting came on the scene, smart bookies were quick to cash in on this new phenomenon. Amongst them were Bookie PPH companies who began to offer bookies more options with their live betting software and platform.
In turn, this led to an increase in the popularity of live betting options as whole. Today, most sportsbooks offer live betting but not all of them are the same. This has to do with the number of live betting options available on any given game. In hindsight, for bookies to increase profits with a live betting software, they must offer more options than their competition.
Reasons Why Bookies with Live Betting Options are Thriving
Live betting or in-play betting is a popular alternative to sports wagering due to its wide range of gambling options. Unlike traditional wagers, it allows the players and the sportsbooks to take advantage of shifting situation. Therefore, bookies can offer more sports betting options to their players.
In a traditional bet, players must place their bets before the game begins. This means they have less information to go on when they place their bet. However, with live betting, gamblers have more information about the game itself which makes it more attractive to them.
Furthermore, live betting is more exciting for players because they are betting as the action unfolds. Thus, sportsbooks with live betting options tend to have a higher volume of wagers during a game. According to Bookie Pay Per Head data, bookmakers experience a 5%-15% increase in wagers after offering live betting.
Overall, the reason why bookies are thriving with live betting is because it offers players a more engaging experience. Especially since mobile betting is becoming the most popular way to bet on sports.