In June, Simplebet, a provider specializing in micromarket pricing, announced it experienced significant growth in its third consecutive NBA season, with a year-on-year increase of 75% and nearly 13 million in-play bets placed during the 2023-24 season. Approximately $325 million was wagered by operators utilizing Simplebet’s microbetting products, which featured 86 unique in-play markets during the NBA post-season. Following this growth, DraftKings revealed it had reached an agreement to acquire the microbetting specialist.
Since the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018, the sports betting landscape in the U.S. has been continuously evolving, with in-play betting now a central strategy for many operators. This season presents another chance for companies to meet the growing demand for in-play betting, catering to bettors' desire for instant gratification.
Leo Gaspar, chief business development officer and co-founder of Huddle and former Simplebet EVP for sportsbook product, points out that the spike in daily fantasy sports (DFS) popularity before PASPA's repeal contributed to the ongoing demand for player props. "When PASPA got repealed, all this stuff became very, very popular because you had to create additional content to engage the audience," Gaspar said.
The increasing popularity of in-play betting has prompted some industry experts to speculate that it might eventually surpass pre-event betting. Matt Howard, partner at Propus Partners, highlights how the linkage between DFS and player statistics has heightened interest in in-play markets. “It’s just following the same trend that the rest of the world has, that live betting grows and grows and probably takes over pre-event at some point because that is what every other region on the planet has done eventually,” Howard explained.
Basketball's fast-paced nature makes it particularly suited for in-play betting, offering numerous betting opportunities during games. Despite this increase, Sportradar suggests that the U.S. still lags behind other global markets in in-play betting, estimating that 70%-80% of all bets in more mature betting markets are in-play, compared to roughly 35%-40% in the U.S. "As the U.S. market evolves and betting habits continue to shift towards those of the rest of the world, in-play betting will continue to grow," said Patrick Mostboeck, SVP of fan engagement at Sportradar. He also noted that the NBA provides an attractive option for in-play betting due to its quick pace and frequent lead changes.
FanDuel, a major player in the U.S. sports betting market alongside DraftKings, is focusing heavily on in-play betting. The company reported that 25% of bets from the ongoing 2023-24 NBA and NFL seasons are on live action. In 2023, FanDuel launched The Pulse, a new product designed to enhance in-play markets related to current NBA storylines, aiming to create a more engaging betting experience for fans.
“As the action unfolds, new bets are added to the feed in a narrative-driven format, offering fans a simple and streamlined path to discover what is happening in a game in real-time,” explained FanDuel sportsbook general manager Karol Corcoran. He added that typical in-play markets like moneyline, spread, point totals, and player point totals are seeing significant engagement among bettors, with customer demand continuing to shape their offerings.
As the in-play market develops, Sportradar anticipates a shift in betting behavior, with companies innovating their strategies to better cater to player preferences. Mostboeck mentioned, “As we continue to innovate the in-play betting category, we expect to see live player markets and micromarkets grow in popularity.”
Personalization is becoming increasingly vital in maximizing the growth of NBA in-play betting. Gaspar emphasized its significance, and Howard concurred, stressing that true personalization remains largely untapped in sports betting. “It’s [personalization] we truly do believe in… for true personalization, customer groups of one, that should be the target,” Howard stated. He believes operators will need to enhance user interfaces and content representation to attract bettors effectively.
Sportradar's proposals regarding personalization include its Virtualized Live Match Tracker, which converts real-time data into personalized streams for fans. Additionally, their 4Sight streaming service will expand to basketball after initially launching for tennis, and their emBET platform integrated into the NBA’s League Pass will continue delivering betting content like point spreads to improve the in-play experience.
“Hyper-personalization is key for attracting and engaging the modern sports fan in a digital-first world,” Mostboeck said. He pointed out that fan expectations are shifting towards personalized, bite-sized content across different platforms, and Sportradar is harnessing its capabilities in AI and machine learning to meet these expectations.
Gaspar and Howard noted that although technology is pivotal in shaping the future of in-play betting and improving personalization, challenges remain. Gaspar pointed to persistent “pain points” arising from separate technologies in trading and content management systems. “I haven’t seen someone who has solved this problem from the ground up,” he remarked, referencing the need for a cohesive data platform and content management system powered by AI to enhance user engagement based on individual betting behavior.
FanDuel is among the companies making strides in aligning its offerings with bettor preferences. Corcoran noted, “This NBA season we will have an improved live offering across markets like live rebounds and assists, which continue to grow in popularity.” He emphasized that product and market enhancements will drive in-play betting growth as fans seek ways to engage with games throughout the match.
Data plays a crucial role in FanDuel’s strategy for securing a top position in NBA betting. Corcoran explained that the company processes data in approximately 2.5 seconds during a game to update odds. “Our algorithms are simulating thousands of outcomes, all in an effort to provide the best live betting experience possible for our customers,” he stated.
As in-play betting gains traction in the NBA, operators eye the opportunity to enhance engagement through personalization and data refinement. The outcome of the NBA title race in June remains uncertain, but the competition to dominate the in-play betting space is set to intensify, with FanDuel emerging as a central contender.
