Altenar, a sportsbook software provider, aims to explore how the structural characteristics of fixed-odds features can boost player retention rates, and how adding a sportsbook to an operator's offering could significantly increase revenue and elevate the entertainment value of your existing products.
According to a 2021 article titled, “Structural Characteristics of Fixed-Odds Sports Betting Products” by Philip W. S. Newall, Alex M. T. Russell, and Nerilee Hing, several characteristic-based structures were shown to influence bettor behavior.
The goals of their study included:
“Literature exists on the structural characteristics of electronic gambling machines (EGMs), which are design innovations that can promote excessive spending of 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 apply to sports betting. The goal was to review previous research on contemporary fixed-odds sports betting products and determine whether structural traits from the EGM literature are also relevant to sports betting.”
They arrived at the following conclusions:
“The review showed that skill can play a role in generating long-term returns in some sports betting scenarios. However, bettors are more likely to be influenced by the structural features of modern sports betting products—features that steer them toward long-term losses through factors such as high betting frequency, high multiplier potential, low win probabilities, payout ratios, deep bettor involvement, and frequent near-misses.”
Let’s take a closer look at the types of fixed-odds betting features considered when analyzing how bettors engage with sports betting products and services.
The Perception of Bettor Control
The study found that bettors prefer certain products over others because they offer a sense of illusory control over games of pure chance.
As a result, several structural characteristics of fixed-odds features encourage players to return.
Thanks to innovation and frequent feature releases, the sports betting industry is poised to keep players engaged and entertained for years, adapting to evolving markets and consumer demands.
The study also noted that “changes within sport and innovations in sports betting products have both led to increases in potential betting frequency.”
You can learn more about new features and the innovative products developed by Altenar, a sportsbook software provider, by visiting the website or simply contacting the passionate team today.
You can also explore Altenar’s markets, products, and services and how they can strengthen your iGaming business.
