In what has become a crowded market, a flexible risk policy is one of the most important tools for online sportsbook operators looking to create product differentiation. Considering that most operators offer players the opportunity to place bets on thousands of events, the ability to adjust variables such as odds, payout ratios and maximum win amounts is crucial if you are to create attractive betting offers. For example, if the majority of bookies are offering odds of 3/1 on Arsenal to beat Bayern Munich, a bookmaker who increases the odds to 4/1 will be more likely to attract players. This is also the case with live sports betting, where players place bets after a game has started.
Traditionally, online sportsbook solutions have not included a high level of flexibility when it comes to odds adjustments and the ability to change other variables. Website managers have been able to set a risk strategy when their operation is first launched, and have usually been able to request odds changes from the software provider, but it has not usually been possible for them to implement these changes independently or at very short notice. This means that managers have needed to make decisions on many variables well in advance, and have found it very difficult to make adjustments during a live game, when the odds are changed automatically according to the algorithm implemented by the sports bookie software.
The only alternative was to employ a large trading team to constantly analyze and manage the variables involved. Of course, this can increase costs exponentially, and is therefore only an option for large, established bookmakers. Other, smaller operators are generally forced to rely on the bookmaker software provided by the supplier.
That is why SBTech Blue, the online sportsbook provider’s semi-managed solution, is considered so revolutionary. Launched only last year, Blue has already had a major impact on the online gaming world as it allows operators to change the odds, payout ratios and maximum bet amounts for almost any sporting event – both pre-match and live.
The bookie website software also includes the option to implement a rule adjustment, whereby the odds, payout ratio or maximum win amount changes at a specified time in the lead-up to the event. An operator could decide that the payout ratio for the outright winner market on the Open Championship will be 97% until 24 hours before the event begins, when it will automatically change to 96%. A promotional offer could then be created based on this.
Using the Blue online bookie software is a easy process for SBTech customers, as it is an extension of the cutting-edge Chameleon360 platform. To access Blue, users simply select “Sports” from the left menu and click on “Risk Management”. Blue then opens in a separate window with the option to change variables for pre-match events, live events, or racing events.
The options for pre-match and live are essentially the same. The bookie software lets you select any event from the left menu and then change the odds, payout ratio or maximum bet amount for any of them. Odds can be adjusted by increments of 0.01, allowing the operator to make extremely precise changes which reflect its risk management strategy. The same goes for the payout ratio, which manages the percentage of a player’s stake to be retained by the operator as a margin. When using the SBTech Blue bookmaker software, it is possible to make changes to the payout ratio in increments of 0.5. In addition, the operator can adjust the maximum win amount per market, reducing or increasing the risk as desired.
SBTech Blue also includes an Event Management feature which gives operators the option to freeze any of the events included in the default offering. Freezing an event ensures that is not displayed to players unless it is unfrozen. In addition, the recently introduced Bets Monitor report, included in the Chameleon360, provides SBTech partners with a live feed of bets as they come in, so traders can see exactly which markets are most popular and can manage the risk accordingly.
When looking at the current state of the online sports betting market, Blue is undoubtedly one of the most flexible and exciting betting software for bookies available.