PointsBet Sportsbook's In-Game Betting Test Run Successful, More to Come Next Football Season
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PointsBet Sportsbook announced Wednesday that the company became the first sports betting provider in the United States to offer live, in-game betting with zero suspensions for both moneyline and spread wagers during a test run this past Saturday during the NFL playoffs.
PointsBet Runs In-Game Wagering During NFL Game
The test run was performed exclusively on the NBC broadcast for the Las Vegas Raiders at Cincinnati Bengals game, where the Bengals went on to win 26-19.
PointsBet is the official sports betting partner of NBC Sports and has marketing materials integrated into Football Night in America studio show and the Peacock Sunday Night Football Final postgame show.
The use of the word suspension here refers to periods during other live wagering systems in which you are prohibited from wagering on a game as it is in progress throughout the game.
Banach Technology Makes Test Successful
This successful test run comes after PointsBet acquired Banach Technology in March 2021, a Dublin-based provider that has proprietary systems in place to support “complex pre-game and live, in-game betting products” through “quantitative driven trading models”.
This acquisition was part of PointsBets’ plans to offer these “market-leading models” with a focus on live sports wagering.
"When we acquired Banach Technology, it was with a precise focus to build toward an 'always on' in-game betting technology experience at PointsBet. That proprietary technology has been developed quicker than we expected since our acquisition, so we tested it out to its full extremity for an NFL playoff game," PointsBet USA CEO Johnny Aitken said in a news release.
"During NBC's Saturday playoff game, our customers experienced 100% uptime and no suspensions on in-game spread and moneyline bets, which we believe to be the first-ever result of this kind in the U.S. While this test focused on the spread and moneyline markets, it also showed a glimpse into the future of where we can take our technology over time and offer a completely differentiated experience when betting in-play with PointsBet."
'OddsFactory' Platform Works Well All Season
PointsBet has seen even more great results after implementing its “OddsFactory” platform for this NFL season citing the following:
- 40% reduction in live in-play market suspensions
- Cut the number of bets rejected by suspensions or price changes in half
- 60% increase in wagers cashed out
"We have watched the integration of our advanced technology with increased uptimes as the NFL season progressed, and wanted the chance for a full test of our capabilities on spread and moneyline markets," Mark Hughes, Group Chief Operating Officer at PointsBet, said in the release.
"We selected Saturday's NBC playoff game, knowing it would offer a bigger handle and higher number of bets placed, and we went for it. We brought the technology to market faster than we thought we could and created something for our clients that, until last Saturday, no one else in the sports betting world had accomplished."
With the success of this run, PointsBet plans to “refine its live betting technology, expand its offerings, and optimize the customer experience for the 2022 NFL season.”
PointsBet currently operates in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, Virginia, and West Virginia in the online sports betting realm.
PointsBet also offers an online casinos in Michigan, New Jersey, and West Virginia and has plans to continue to expand its footprint, per their press release.
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