Sportsbook management: using data to scale up and manage risk

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How TXODDS’ comprehensive betting data helps sportsbooks scale up

Scale is a key factor in enabling online sports betting operators to succeed and one of the best ways to achieve this is by offering consumers fast, accurate and reliable sports betting data.

Another important point about scale is that while every sportsbook operator wants to have significant reach in the markets where they operate, to a certain extent scale can only be achieved by having strong liquidity – in other words large numbers of players betting on their websites.

Player liquidity is important for a number of reasons. It animates online wagering activity during events, can move prices and for trading teams can provide insights into what bettors are thinking in terms of cash out, final results or outcomes.

So while having strong liquidity is one feature that will enable online sportsbooks to effectively manage and achieve scale, another is comprehensive coverage of betting markets thanks to fast, accurate and reliable sports betting data.

Full coverage

Marketing and advertising is one way for operators to build up their brand, but this must also be backed up with a quality offering when it comes to betting odds, pre-game and live, and easy integration projects made possible via single-integration application program interfaces (APIs).

From NFL play-offs to the English Premier League right across to Finnish ice hockey fixtures, TXODDS’ experience as a betting data provider over the last 20 years has seen it build a portfolio of data products that enables online bookmakers to offer their players a comprehensive  range of markets.

Scalable data

On pre-game formats, our offering aggregates fixtures, odds and results from more than half a million matches and events into one XML or JSON odds feed.

The data is broken down into market segments that enables our partners to easily digest the data and provides them with full control over the information.

With our system, clients can also customise their offerings at the same time as they monitor changes in prices across all markets.

  • The scope of our data makes it truly scalable and enables clients to track everything from entry-level data through to cross-referencing the whole TXODDS pre-game database across multiple jurisdictions.
  • Country and region-specific bookmakers are covered, as are specific jurisdictions.
  • Pre-game data forms the basis of integrity and market analysis work – it can also be used for odds comparison and other database-led betting applications.

In-play markets

In some European markets such as the UK in-play betting is believed to represent around 70% of all the wagering activity recorded by online bookmakers. In the US the figure stands at around 35% currently and is expected to keep on rising and reach similar levels as those seen in Europe in the near future.

The rise of in-play betting has very much been driven by consumers. From its earliest days, players quickly took to the product and drove the demand for it, with data providers responding to it by providing bookmakers the required live feeds to populate their offerings.

In this environment, the TXODDS live odds are always-on and delivered with optimal speed thanks to our low-latency push feeds. Our partners are given extra flexibility and can create custom streams of odds changes, thresholds, volatility fluctuations and bespoke alerts that can be set for updates from multiple data streams and aggregated odds.

These features present several advantages:

  • Optimised trading: TXODDS’ unrivalled coverage enables operators to run algorithmic trading and offer players more betting opportunities with no extra resources.
  • Flexibility: Unlimited subscriptions provide extra flexibility. Partners can adapt the information to their business needs and receive specific datasets.
  • Real time and uptime: All data processing is done within the feed in real time to avoid latency issues and multiple redundant hosting solutions in Asia and Europe guarantee uptime and no outages.
  • Analysis: This comprehensive data is supplemented by our Big Data TX Labs service, which maintains the world’s most comprehensive historical betting odds data archive and enables full end-to-end analytics and business intelligence reporting.

Scale through quality UX

Scale is often mentioned by sportsbooks as being a key business target and ensuring they have the depth of quality when it comes to betting odds and data is one the best ways to achieve this.

Providing players with a comprehensive betting data portfolio ensures a top quality user experience that keeps players returning and provides online betting operators with a key foundation to scale up as they grow their business.