PointsBet Unveils New NFL Live Betting Feature "Lightning Bets," Leading to Record Number of Live Bets During NFL Week 5
PointsBet, the home of live betting, today announced it has successfully enabled a homepage feature of NFL Lightning Bets on the PointsBet app, leading to a 108% increase in Lightning Bets handle and 184% increase in unique customers using the product week over week. During week 5 of Sunday Night Football, NFL Lightning Bets were the most popular live markets and third highest in terms of handle. This development comes on the heels of PointsBet announcing its upcoming integration of in-app content, featuring clips from PointsBet-produced shows such as The Straight Line with Ryan Leaf, to further build out its live betting functionality.
Placing an emphasis on live betting has become a key objective for PointsBet in its mission to disrupt the sports betting status quo in the North American market. Since its entrance in the U.S., the sportsbook has focused on carving out space where bettors are showing a hunger for them to show up.
"Live, in-game betting is not only the future of the American sports market, but it's what the sports bettor wants right now. We recognize that, and we've upped our investment in our product. Lightning bets are a continued development in our strategy to own the future of sports betting," said Johnny Aitken,
Chief Executive Officer at PointsBet USA. "Just this week at the 2022 World Congress of Sport, NBA Deputy Commissioner Mark Tatum predicted that live betting will soon rise to over 70% of all bets placed."
Lightning Bets bring customers closer to the live action, allowing them to bet on the outcome of every play and drive to deliver more ways to win throughout the game. Currently, PointsBet offers Lightning Bets to users for NFL, NBA, and college basketball matchups – with additional markets set to be rolled out in the near future for MLB, as well as soccer, ahead of the World Cup.
Over the course of the 2022 NBA Playoffs, Lightning Bets were the second most popular market for customers to bet on with an average stake size of over $100.
PointsBet's acquisition of Banach Technology in 2021, coupled with its partnership with Nellie Analytics as a result of the recent investment from Susquehanna International Group (SIG), has largely driven technology-related innovations on the sportsbook's platform. Banach, an Ireland-based software company that creates sports betting platforms and algorithms, has been critical in enhancing PointsBet's live betting offerings. As part of the SIG investment, Nellie Analytics has provided access to its quantitative modeling research and helped accelerate PointsBet's product-led strategy.
Earlier this year, PointsBet broke ground in becoming the first U.S. sports betting provider to offer clients live, in-game betting opportunities with zero suspensions across the core markets of spread and moneyline as part of a test run during the NFL Wildcard Playoff game between the Las Vegas Raiders and Cincinnati Bengals.
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