Genius Sports builds on same-game parlay hype with launch of In-Play MultiBet product
Genius Sports has unveiled a new product that will allow sports bettors to place in-play same-game parlays.
The new product – which is designed to improve the experience of betting on sport while watching it live – will be ready in time for the FIFA World Cup in December 2022.
The provider’s In-Play MultiBet product will enable bettors to wager on multiple events within the same game – even after the action has started.
Same-game parlays have become an essential offering for sports betting operators, particularly in the US.
They give users greater control over their own bet slips and also drive higher margins for operators. At present, however, they are mostly placed pre-match.According to the company’s Q2 results presentation, Genius benefits from a revenue share that is on average 3x higher for in-play bets versus pre-match bets that are placed with its operator clients.
Genius Sports chief commercial officer Jack Davison: “Combining same-game parlays with the unstoppable growth of in-play betting is a breakthrough innovation for us and our partners.”
In August, rival supplier Kambi revealed that nearly one quarter of all NFL bets placed on its sports betting platform were same-game parlays, while half of all customers that wagered on the Super Bowl placed at least one same-game parlay during the event.
Nasdaq-listed Genius said the product would provide its sportsbook partners with a “powerful” new tool to engage players and grow revenues.
“Combining same-game parlays with the unstoppable growth of in-play betting is a breakthrough innovation for us and our partners,” said Genius Sports CCO Jack Davison.
“Starting with the biggest sports event of the year, the FIFA World Cup, InPlay MultiBet will enable our partners to unlock bigger margins and drive engagement between key match events and breaks,” he added.