Kero Sports announced this week that it is partnering with Caesars Sportsbook to provide microbetting markets for the sports betting operator’s online app that’s available in 23 states – including Virginia – and the District of Columbia.
Microbetting focuses on sports betting wagers that can be made during games, such as the outcome of the next drive in a football game, an at-bat in a baseball game or a possession in a basketball game.
Change For Caesars
Caesars – which operates the Virginia Caesars Sportsbook in the commonwealth – had previously used SimpleBet as its microbetting provider. However, DraftKings announced last year that it would purchase the company, of which it already owned a 15% stake. That deal closed in early December, meaning that sports betting operators like Caesars and others who previously used SimpleBet needed to find a new source for their in-game markets.
In the announcement, Kero said Caesars’ bettors will now have access to “first-of-its-kind contextual markets” for major football, basketball, baseball and soccer leagues, both domestic and abroad. At the same time, the two sides will also work on implementing Kero’s “Fire Bets” into Caesars offerings. Fire Bets, according to the company, will offer bettors unique real-time, in-game markets tied to what’s happening in the game, such as a comeback attempt.
More than 30 states have legal sports betting and most offer mobile wagering, including online Virginia sportsbooks.
More About Kero Sports
Kero is an American-based company, but it has made a name for itself abroad, having worked with more than 150 sportsbooks and offering NFL, NBA, MLB, soccer and college sports markets.
The company also uses an algorithmic curation process to manage microbetting markets for its clients. Those markets are also updated every 15 seconds to ensure sportsbooks and bettors are getting the best product available.
“We are extremely proud to partner with an iconic brand like Caesars,” Kero CEO Tomash Devenishek said in a statement. “Our team has worked relentlessly to incorporate the learnings of the last few years in the international arena not simply to ensure that we have the content our partners desire but to ensure that this content delivers across the metrics of profitability, engagement and retention.”
Caesars is not the only U.S. operator that will be looking for a new microbetting partner. It’s likely additional deals will be announced in the coming year as sportsbooks that once worked with SimpleBet will need to find a new partner.
How Big Is Microbetting
Microbetting is a significant part of the U.S. sports betting market and is likely to continue growing as the technology improves.
It’s estimated that in-game betting currently makes up around a third of wagering in football, basketball, baseball and other games. Within five years, it’s expected to equal up to half of the wagers in America.
A key reason for that is the effort to decrease the latency on live feeds for sporting events shown on streaming services. In some cases, streams shown on sites like YouTube TV can be up to a minute behind the actual game action, a delay that significantly reduces the opportunity for many to participate in many in-game markets.
YouTube now offers a reduced latency feed for watching live events on television screens. It is not yet available for people watching on mobile devices or computers.
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USA Today photo by Reggie Hildred
