In-game betting describes the practice of betting on a game and events within a game while it is happening. This is similar to live betting, although sometimes the two are distinguished from each other, with live betting taking place throughout a game but with each play changing the odds of the bet. In both instances, in-game or live betting offers a chance to place in-play wagers for specific plays and player proposition.
In-game betting has traditionally been available in one form, such as placing a bet on a player to score the first point in a game; the bet had to be placed before the match took place. But with the growth of mobile technology and the increased speed of networks, this type of betting has increased. With the possibility for viewers to have more robust streaming technology in place, users can bet on every play in a game with greater reliability, as latency is reduced both for the live event and the betting odds.
A lot of the growing in-game betting technology has been with browser sites and mobile applications. Many livestreams of sporting events have experienced transmission delays anywhere from forty-five to fifty-five seconds, which cause friction with an in-game betting situation as the odds can change before a viewer is watching a play develop; the delay can ruin a betting opportunity or the whole game experience. As the technology develops, it can ideally provide synchronized, real-time, delay-free streams that will increase the in-game betting opportunities.
Sinclair Broadcast Group, which owns Bally Sports Regional Networks, has been in negotiations with their league partners to obtain streaming rights for a direct-to-consumer (DTC) launch. The broadcast group broadcasts fourteen teams in the MLB, sixteen teams in the NBA, and twelve teams in the NHL. Part of these rights would include the ability for Sinclair Broadcast Group to include in-game sports betting overlay through an in-game live streaming application. This would be an interactive application that would offer a gamification of watching live sports, offering users a chance to make in-game bets. This also offers Sinclair Broadcast Group a chance to get ahead of cord-cutting, as fewer viewers are watching traditional broadcasts. This is as other sports broadcasting companies and live betting sites such as FanDuel and DraftKings extend their offerings of in-game betting.
With new technology has come increased statistical information to inform the odds making for any in-game or traditional sports betting. This statistical information also offers a chance for some to build simulations and models through AI or machine learning algorithms in order to create better odds, or arguably, more accurate odds. And while traditional bookmakers would sit in a room and debate where a spread should be set, now this has been slowly replaced by ever-more accurate computers that work with data from past games and past performances to create a betting line.
These models have already been used and have seen stronger betting lines that move less during an event, giving greater stability in the bookmaker's perspective. With the continued development of this technology, the simulations can also offer simulations on how betting lines should move during a game based on play and statistical advantages. For example, if a team has a near-perfect record when scoring first, but is not a favorite to win a game, the betting line could change depending on whether that team scores first or not.
With the improvements in the technology and the advantages of in-game betting has also come the development of micro markets. These offer more quick options to place wagers against, instead of just winners and point totals. This can create twenty minute windows of action, which with better technology can be reduced down to in-play betting with the right network speed and a reduction of latency. Such that betters could wager on the outcome of an upcoming play, rather than only on who scores the next touchdown or which team reaches an arbitrary point total first.
With the increased popularity of Esports, a new opportunity also exists for in-game betting. As these sports are traditionally streamed live on sites like Twitch and YouTube Live, both of which offer robust and low-latency streaming, in-game betting offers a chance for Esports to generate new interest and new opportunities for interested users. And while most of the gambling is done through third-party websites or mobile applications, an integration into the streaming services would offer a similar in-game betting opportunity to streamers and to Esports tournaments.
