Prediction markets have become one of the most closely watched areas of the betting industry, with operators weighing how to add the format while keeping the user experience familiar and straightforward.
During last week’s SBC Summit, Yogonet spoke with Susanna Sargsyan, Senior Business Development Manager at DATA.BET, about the company’s recent move into prediction markets, the demand it is seeing from operators, and how the product fits alongside traditional sports and esports betting.
Sargsyan also discussed DATA.BET’s API and iFrame integration options, the different needs of sportsbook, platform and casino operators, and the company’s plans to expand further in Latin America and Africa.
What are your main takeaways of the show? Which conversations have stood out for you, and what has the experience been like?
This is one of my favorite shows of the year, so I’m happy to be here. My main takeaway is that the industry keeps growing, and it is growing super fast. We have had a lot of conversations about sustainable growth, innovation, and what comes next.
Rather than mentioning one or two specific conversations, I would say that, for me personally, the most valuable part is the exchange of ideas with our clients, existing partners, and industry professionals overall.
DATA.BET has recently launched its prediction market offering and expanded its functionality. What drove this development, and what opportunities do prediction markets create for operators?
Prediction markets have recently become very visible in the industry, and DATA.BET sees them as a separate category that operators are increasingly expected to provide to their users. Especially when a user is looking for prediction markets and does not find them with their operator, they will most probably go to another one.
DATA.BET is trying to make sure our operators are able to retain their existing users and expand even further thanks to greater market variety. Of course, we have made it as simple and user-friendly as possible, more suited to a betting player. That means users can place bets from the same accounts and use the same wallets they already have.
How do you see prediction markets developing within the sports betting landscape, and what are the key areas you are focusing on as the product evolves?
I think prediction markets are eventually going to stop being defined by the label itself. We now see real-world markets growing, and people are betting on real-world events alongside sports and esports.
One important direction is the shift from long-term events, or long-running markets such as elections, toward shorter-term markets. The second important area is simplicity for the players. That is what we are trying to work on.
As I mentioned previously, people can bet from the same accounts, use the same wallets, and see an experience they already know. Users will come back if they see all of these features available.
Do you think prediction markets cater to a different type of consumer? For operators offering prediction markets, do they provide access to a new audience, or is there significant overlap with traditional sports bettors?
I believe there is both. People who are already betting on traditional sports and esports may also be interested in prediction markets. At the same time, some people may be interested specifically in prediction markets. So operators may also gain a new flow of users thanks to prediction markets.
DATA.BET offers both iFrame and API integration options. How do these approaches address different operator needs, and what factors typically influence a client’s choice between them?
These approaches suit different types of clients depending on their needs. I would say the API solution is mostly the choice of bigger operators, particularly those that already have a strong offering for their users but still want to expand and provide more markets.
The iFrame works more for other types of operators. These could be new or newly launched operators, or operators that are switching or migrating from one supplier to another.
Could you tell us more about DATA.BET’s client strategy? What are operators looking for today when choosing a sports betting technology provider, and how does the company respond to those expectations?
We work with three types of clients: platform providers, betting operators, and casino operators. They all have different concerns.
For example, platform providers and betting operators usually come to us with a main set of concerns. Margins are under pressure, existing suppliers can limit flexibility, and sometimes they approach us because they lack variety in esports markets. That is where we try to be flexible and provide each client with what they need.
For casino operators, sportsbook is another source of revenue, but they can sometimes be concerned about the high risks involved. This is where DATA.BET’s approach also fits their needs because we support them throughout the whole process, starting from integration and continuing afterward. We have a 24/7 support team as well as risk management, helping our casino operators avoid possible risks.
Looking beyond the summit, what are your main product and business priorities for the coming months? What should we expect?
I would highlight three things on the product side. First, we will continue developing our prediction markets. We will also keep improving our SPA. Alongside that, we are working to improve our widgets so that we can provide our clients with more ready-made products.
Last but not least, on the business side, we are looking to expand further in Latin America and Africa.