Statistics, Odds, and Data Feeds for the Sports Betting Sphere
Sports wagering is a constantly growing field, which accumulates huge amounts of information, concerning:
- player behaviour;
- sports statistics;
- deposit and stake tendencies, etc.
Modern operators should analyse the data as quickly and efficiently as possible. They also need to meet the player's needs and provide diverse odds while maintaining great profits.
A high level of mathematics understanding and the skill to interpret sports bidding records are must-haves. Such knowledge helps bookmakers and punters build a gambling strategy. Each sport has a variety of features and information to consider. For instance, in horse racing, players rely on the animal's breed, injuries, age and diet when placing bids.
In football, the most popular statistics are:
- shots per match;
- successful passes;
- possession percentage;
- player discipline (yellow and red cards), etc.
In sportsbooks, coefficients indicate the occurrence of a certain situation. They also describe the ratio of payout size to the successful bet.
Operators traditionally use 3 basic formats of odds:
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These odds are the most popular worldwide. They are displayed as numerical values such as 2.0, 3.5, 1.25, etc.
Such coefficients represent the total potential return on a bet, including both the income and the original stake
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The coefficients with pluses indicate the potential profit relative to a $100 wager, while figures with minuses represent the amount the player needs to bid for winning $100
The bookmaker industry offers a wide range of real-money stakes. Here are the most popular variations:
- Win bet (money line). This is the easiest wager, where the player selects the team expected to succeed. Such bids help operators maintain balance in their sportsbooks.
- Point spreads (handicaps). These bets mean that the team not only needs to win but also to achieve a specific advantage, indicated by a +/– in American odds (for example, a specific number of points per match).
- Total bids. Here, the gambler predicts whether the final score or result of an event will be higher or lower than a predefined number set by the bookmaker.
- Prop bets (specials). These wagers focus on individual situations during the season, rather than the match result. Gamblers place bids on various aspects such as athletes' performance, behaviour, injuries, goals scored, etc.
- Futures. Here, bettors must select the winner before the match starts. The odds may change over time.
- Parlays (accumulators). In this type of wager, the gambler places a series of bids. The user wins only if all their forecasts are correct. However, the potential payouts make the effort worthwhile.
- Progressive parlays. This bet format adheres to the same rules as accumulators. There is one exception: a win can be obtained even if there are errors in certain predictions.
Prominent bidding platforms often collaborate with information providers to offer bettors precise and pertinent statistics. These data suppliers deliver real-time records of sports events, markets, etc.
Here are some notable companies, presenting their data feeds:
- BetRadar. A leading vendor of live scores, fixtures, and game details encompasses a variety of activities such as basketball, tennis, cricket, etc.
- Sportradar. The supplier offers a range of wagering options, leagues and competitions, and has specialised channels for in-game betting and eSports.
- Opta. A well-known brand analyses statistics for numerous events, offering live match data, historical analysis, and forecasts.
The services from these organisations grant access to extended catalogues of sports and events, attracting a wide array of gamblers.
To expand their audience, online bookmakers should continuously analyse data and provide a wide range of odds. In the highly competitive wagering market, offering real-time and relevant statistics is crucial.
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