Altenar, a sportsbook software provider, aims to take a look at how the structural characteristics of fixed-odd features can increase player retention rates, and how adding sportsbook to an operator's offering could drastically increase revenue and the entertainment quality of your pre-existing products.
According to a 2021 published article titled, ‘Structural characteristics of fixed-odds sports betting products’ written by Philip W. S. Newall, Alex M. T. Russell and Nerilee Hing, explored how several characteristic-based structures fed into bettor behaviour.
The aims of their text were as follows:
‘Literature exists on the structural characteristics of electronic gambling machines (EGMs), which are design innovations that can promote spending excessive time and money on these games.’
‘Fixed-odds sports betting products, where bettors place sports bets against a bookmaker, have also seen significant innovations in recent years. Despite some differences between these gambling products, similar structural characteristics could also be relevant to sports betting. The aim was to review previous research on contemporary fixed-odds sports betting products, and to identify whether structural characteristics from the EGM literature are also relevant to sports betting.’
Discovering the following conclusions:
‘The present review showed how there can be skill involved in producing positive long-run returns in some sports betting situations. Bettors are, however, more likely to be led by the structural characteristics of modern sports betting products into bets with long-run losses via potentially all of the high betting frequency, high multiplier potential, low win probability and payout ratio, high levels of bettor involvement, and frequent near-misses.’
Let’s take a closer look at the types of fixed-odds betting features that were taken into consideration when contemplating how a bettor/player interacts with sports betting through products and services …
The Perception of Bettor Control
The study explained that bettors preferred certain products to others because they offered them a sense of illusory control over games of pure chance.
As a result, there were several structural characteristics to fixed-odds features that drove players back for more …
As a product of innovation and new feature releases, the sports betting industry can keep players interested and entertained for years to come, as it adapts to new markets and ever-changing demands.
The study explained that ‘changes within sport and innovations in sports betting products have both led to increases in potential betting frequency.’
You can discover more about new features and the innovative products behind Altenar, a sportsbook software provider, by visiting the website, or simply by calling the passionate team today.
You can also find information on Altenar’s markets, products and services and how these can bolster your iGaming business.