In-game betting, often referred to as live wagering, encourages sports bettors to invest more money, as stated in a recent report. 

Optimove Insights examined live betting trends for 2024 in Greece, Italy, Spain, the UK, and the US, observing that, on average, in-game betting represented 54% of the total sports wagers made. Greece led the market for that type of betting with 70% of wagers placed, while the US ranked fourth at 52%. In the US, where live betting is a recent development in comparison to established sports betting markets, it's clear that bettors are putting more money into in-game stakes.

"The U.S.A. led the way with bettors averaging the highest monthly live betting amount of $1,583.90 vs. $846.20 for pre-game (match), an 87% increase,” notes Optimove.

The research company also notes that gamblers who participate in in-game wagering tend to wager more on average each month compared to those who concentrate only on pre-game betting. 

In-Game Wagering Major Opportunity for US Providers 

The US market for in-game betting presents significant long-term potential for sportsbook operators, as various American sports are particularly compatible with this betting format. 

For instance, the regular breaks in the play of football – the sport most bet on in this nation – and the leisurely pace of baseball render these sports perfect for live wagering. In Europe, live betting has been favored for an extended period, especially among bettors who enjoy slower-paced sports. 

In Italy last year, the typical monthly expenditure on live betting was over four times that of pre-game wagering, while in Greece, it was more than twice as much. Spanish gamblers placed almost double the amount on in-game bets compared to pre-match wagers. 

“This analysis illuminates the growing importance of live betting in driving player engagement and revenue for sportsbook operators,” adds Optimove. “With live betting accounting for over half of total bet amounts in most markets, it is clear that real-time, dynamic betting experiences resonate strongly with players. Moreover, the higher average spend by live bettors highlights the potential for operators to enhance player lifetime value through targeted, timely personalized messages to players.”

Expansion of In-Game Betting May Trigger M&A 

Live betting provides gaming companies with considerable profit opportunities, but leveraging technology is crucial to optimize those. This might ignite heightened consolidation efforts as gaming firms aim to enhance their in-game betting technology. A key challenge for sportsbook operators is addressing latency. 

Low latency is an essential technology for sportsbook operators aiming to take advantage of in-game betting. That technology progresses more swiftly than conventional broadcast feeds, enabling gaming firms to set precise prices for live bets. 

Multiple surveys indicate that Bet365, DraftKings, and FanDuel are highly rated for their live betting technology, yet there’s potential for other gaming companies to gain a foothold.