Altenar has improved the way that bets are accepted through its sportsbook thanks to a new proprietary algorithm.
The updated approach to bet acceptance is a significant upgrade to the user experience of live betting and allows operators to accept more bets when the action is under way.
In this guide, we explain how the new bet acceptance logic works and the main benefits for all parties.
How Bet Acceptance works
The new Bet Acceptance is made possible thanks to a unique algorithm devised by Altenar’s experts. It provides an alternative logic of when in-play bets are accepted after the live bet delay is accepted.
Prices in some markets are rapidly changing all the time but this new algorithm filters out the ‘noise’ of odds changes and allows the users to place bets on the prices they initially selected, even if the odds changed during the bet delay.
Problems Bet Acceptance Logic solves
The new Bet Acceptance logic is an innovative solution to one of the oldest problems in the online sports betting industry.
When trying to place a live bet, players were previously given three options:
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Accept any odds change
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Accept higher odds
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Ask on any odds change
All three could be detrimental to the user experience. Option one could leave players unsure of what odds their bet was placed at, while options two and three could be frustrating for players when betting on sports and markets which involved odds constantly changing.
As a result, players may have been less inclined to place live bets, leading to lower revenue for the operator and a poor user experience for the player.
Benefits of Bet Acceptance Logic for users
Almost all live bets through Altenar’s sportsbook are now accepted given that there is no fundamental change in the events. This reduces the frustration that players often experience when it comes to live betting, and also allows for more selections to be added to a betslip.
The acceptance criteria are fully customisable, allowing operators to tailor the solution based on their strategy.
Comparison with Competitive Solutions
Altenar believes the unique algorithm is one of the most robust solutions in the industry which benefits players and operators alike.
While being able to offer live betting is standard across all sportsbooks these days, the user experience can significantly vary and the reality is that too often bets are rejected due to very small changes in the odds.
Conclusion
The growth of live betting has been a major development in the sports betting industry, with players looking to get involved as the action unfolds.
Placing bets during the event can maintain interest levels and reduces the need to pick from the pre-live markets, so improving the live betting capacity of a sportsbook is a key development for player retention.
The ability to accept a far greater number of live bets has transformed the user experience and ensures operators are well positioned to make the most of the growth of live betting.
Speak to your account manager or get in touch with our team to learn more about how this innovative solution can elevate your sportsbook offering.
