The panellists at a major gambling conference, SBC Summit North America, mentioned that in the near future, more rapid-fire betting, which is a quick, intensely focused bet on the next play or even the next pitch, will be on the way as technology continues to evolve and legal sports betting expands to new markets.
Gambling companies’ officials and professional sports leagues’ officials agreed that micro-betting is the fastest-growing segment of in-play betting. Andrew Bimson, president and chief operating officer of Sportradar North America, said that while micro-betting overall value is comparatively small now, he estimated that it could constitute $20 billion worth of bets by 2027.
In-play betting, or bets made after a sporting event begins, is an established segment of a fast-growing industry. Microbetting is a subset of that, and it introduces instant gratification to the sports betting experience. Joey Levy, the founder and CEO of Betr, a new micro-betting company that currently operates in Ohio and Massachusetts, said that he believes micro-betting could become the preferred way for people to bet on sports before long. The Betr founder said that companies that offer micro-betting need to do it honestly, with full disclosure of risks.
Micro-betting popularity also worries Keith Whyte, executive director of the National Council on Problem Gambling, who says the rapid-fire nature of micro-betting flies in the face of responsible gambling behaviour. He raises a valid concern about the potential risks associated with micro-betting. The fast-paced nature of micro-betting can create an intense and addictive experience for some individuals, leading to potential problem gambling behaviour. It is important for both gambling companies and regulators to prioritize responsible gambling measures to prevent and address potential issues related to problem gambling. It can include measures such as setting deposit limits, providing self-exclusion options, and offering resources for problem gambling support.