PointsBet announced Wednesday it has successfully enabled a homepage feature of its NFL Lightning Bets on its mobile app, which it claims has led to a 108% increase in Lightning Bets handle and a 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, says the sports betting operator. This development comes on the heels of PointsBet announcing its upcoming integration of in-app content, featuring clips from company-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," the company explained. 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."
We have successfully enabled a homepage feature of NFL Lightning Bets on the PointsBet app, leading to nearly a 185% increase in unique customers.— PointsBet Communications (@PB_Comms) October 12, 2022
Currently, PB offers⚡️Bets for NFL, NBA, & NCAAB – with additional markets set to be rolled out soon: https://t.co/Iqyv2HYHkQ pic.twitter.com/0zF6Jgbgwf
Johnny Aitken, Chief Executive Officer at PointsBet USA, stated: "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. 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," he noted.
According to the company, 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.
Thrilled to unveil a first-of-its-kind content experience on the PointsBet app! The platform will now feature clips from PointsBet shows, along with access to individual custom-curated feeds and PointsBet+, our new content hub.— PointsBet Communications (@PB_Comms) October 11, 2022
Read more: https://t.co/zYWoMc5QM1 pic.twitter.com/xgcdDbDiY3
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 became 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.