What Role Can Data Tracking Play in the US Sports Betting Market?
Sports betting in Europe, especially in England, is a strongly flourishing business – in the US however, it’s still evolving. As the wagering gets more detailed, sports data tracking is taking on a bigger role. Here’s why it’s significant.
Prior to May 2018, it was illegal to bet money on sports events outside of the state of Nevada. But after the US Supreme Court overturned the PASPA (Professional and Amateur Sports Provision Act) it has been up to each state to determine and pass its own regulations and laws regarding sports betting.
Sports Data and Betting Are Merging
Recently, all eyes in the US were focused on one event – March Madness, the most prestigious US-College Basketball tournament. After the laws for sports betting were loosened, the American Gaming Association estimated that 8.5 billion dollars were bet on this years’ tournament.
The previously illegal sports betting market is estimated to have had an annual volume of 150 billion dollars until the law was changed. Such sums indicate great market potential and these numbers make it even more desirable to gain access to the market.
The loosening of regulations will give KINEXON Sports more opportunities and ways to continue establishing itself in the US sports market.
The Benefits of Data Tracking in Sports Betting
The current use of KINEXON Sports includes performance and tactical analysis for clubs and leagues. Whether it be for basketball, football, ice hockey, soccer or handball. Position and performance data is recorded during sports events and practice sessions and is transmitted to an analysis tool which displays the data in real-time.
There are two key factors to understanding the sports betting market and the added value KINEXON Sports would give:
1. Latency in live betting: Recorded match and the appearance of the image on the spectators’ device. Usually the image is seen on the screen with a few second delay from live time. Low latency times have a positive effect on the perception of the game and for fans who place bets, a longer latency time is a major disadvantage.
That is because live betting is strongly dependent on time sensitivity, pushing fans to place their bets as quickly as possible – which is a problem solved by KINEXON Sport’s real time feature. Our system guarantees the data being available at the same time the game is played, therefore allowing bets to be placed down to the second.
2. New metrics for betting: Thanks to the various metrics recorded by KINEXON Sports, additional items can be made available for betting.
For example, KINEXON Sports could make it possible to bet on the fastest sprint, hardest shot or highest jump. This would result in a better viewing experience and greater fan commitment, as well as potential new revenue streams in the sports industry.
So data tracking goes well beyond the stat sheet, especially when it comes to sports betting.
How to Turn Player Tracking into Fan Engagement
It’s no secret. If your coaches are tracking players to improve their performance, the door is already open for you to create more fan engagement — especially through sports betting.
Fan engagement initiatives can leverage the popularity and potential of sports betting, which can increase fan interest, involvement, and loyalty. Data and AI can help teams and sponsors create more engaging and rewarding betting experiences, such as offering live odds, predictions, and tips.
If you’d like to learn more about how you can create better fan engagement through data tracking, visit our KINEXON ENGAGE web page via the link below.
More stories
Study Reveals: Olympic-Based Strength Training Enhances Handball Skills!
Imagine the power and agility of an Olympic athlete combined with the strength and endurance of a handball player. That’s exactly what a recent study set out to explore. The goal? To unlock new levels of performance for women handball players.
What's Still Missing on The Journey to Equality for Women Athletes?
Researchers from the Bundesliga club, TSG 1899 Hoffenheim, are conducting a study on the influence of the menstrual cycle on the performance of women athletes. Dr. Sascha Härtel and Dr. Ludwig Ruf shared insights into the research, and talked about what is still needed.
Study Reveals the Most Popular Shot EuroLeague Basketball Players Take
Sports analytics and data-driven forecasting play crucial roles in European basketball. Researchers are trying to identify essential performance metrics and effective coaching strategies. What they’re finding is that one type of shot is more popular than the rest.
Why Underloaded EuroLeague Basketball Players Still Need Data
As Head of Performance at Fenerbahce Beko Istanbul, Kostas Chatzichristos knows basketball analytics. He explains why coaches need to collect data on all players — even the ones who aren’t getting minutes.
What a UL Experiment Revealed About Merging Live GPS Data and Recovery Tech
In football, recovery is as important as training. Recently, the sports medicine staff from the University of Louisiana conducted an experiment to gauge the impact Firefly Recovery Devices may have on a player’s recovery with the help of live data from KINEXON Sports.
How Basketball Coaches Can Use Sports Video Analysis Software
Basketball coaches and players strive to understand the intricacies of each shot. But using a video analysis software, that doubles as basketball shot tracking app, promises to be the Holy Grail for those seeking comprehensive insights.
What Are The Volleyball Metrics That Matter Most to Coaches?
Volleyball positions require speed, agility, power, and precision. But how do you know if your team is performing at its best? How do you measure your progress and identify your strengths and weaknesses? This is where player metrics and analytics come in.
Why Evansville University’s Sports Performance Coach Dislikes Backpedaling
How can players optimize their performance and avoid wasting steps on the court? That’s the question Jeremy Portillo, the sports performance coach for Evansville University men’s basketball team, was asked on a recent episode of “The Extra Edge” podcast. He gave a jaw-dropping answer.
Athletic Performance: Why is it Important to Understand and Track Acceleration?
Athletic ability is often associated with an athlete’s explosive speed and acceleration. That’s why acceleration is often called one of the cornerstones of excellence in athletic performance. But did you know that it can be improved with the right tools and training methods?
How UAB's Strength Coach Sold Football Analytics to His Head Coach
Author: Dave Grendzynski
Lyle Henley, the Director of Sport Performance for the University of Alabama Birmingham. football team. He’s a strong advocate for sports data. He shares his story of how he sold his old school head coach, Trent Dilfer, on the idea of using data.
What Kind of Live Data Can an LPS System Provide Fans During an American Football Game?
Coaches, players, media, and fans crave real-time insights to enhance performance, strategy, and engagement in American Football. Now, LPS technology is providing just that. Giving everyone in the stands, and watching at home, a view of the game they have never seen before.
What Stanford's Volleyball Strength Coach Avoids Every Season to Stay on Top
Author: Dave Grendzynski
Tyler Friedrich is the sports performance coach for the women’s volleyball team at Stanford University. He’s been helping them improve their strength, speed, agility, endurance, and jump height for more than 8 years. He says to stay on top, there’s one thing coaches should avoid.
Why Integrating Football Match Data with Sports Performance Training is So Important
In football (or soccer, as it’s known in some parts of the world), coaches are constantly seeking innovative ways to enhance player performance. One powerful approach that’s gaining traction is the integration of match data with sports performance training metrics that are GPS-based.
What Strategies Can Coaches Use To Find Top-Tier Sports Data Analysts?
Author: Dave Grendzynski
As the Director of Sports Performance at the University of Colorado, Steve Englehart realized he needed someone who could make sense of the data he was collecting. He explains how he found his analyst and how other coaches can find one too.
How Football Analytics Put a Walk-On on a Path to the NFL
Author: Dave Grendzynski
The insights we’re getting from our guests on The Xtra Edge podcast are even better than we imagined. Take University of Louisiana Coach Connor Neighbors, for instance. When he was asked, “How did you discover sports analytics?” The answer even shocked us.