We're nearly one-third of the way through the latest NFL season is here, and operators are continually finding more ways to take advantage of online sports betting while users watch game action.
PointsBet retooled its app to emphasize Lightning Bets — its version of micro-betting, where users can place a wagers on markets such as the next play outcome — on their homepage... and it paid off.
The operator announced on Wednesday that during last week’s Baltimore Ravens vs. Cincinnati Bengals game on Sunday Night Football, NFL Lightning Bets were the most popular live-betting markets on the app and the third-highest in terms of handle.
Week over week, the wagers made on Lightning Bets more than doubled — and the number of users who tried it nearly tripled.
Mirco-betting is not new to legal sports betting, but it is now being highlighted. PointsBet realized this during the 2022 NBA playoffs, when its Lightning Bets were the second-most popular market for bettors.
"Live, in-game betting is not only the future of the American sports market, but it's what the sports bettor wants right now," said Johnny Aitken, Chief Executive Officer at PointsBet USA. "We recognize that, and we've upped our investment in our product."
Aitken also noted, in general, PointsBet expects 70% of all bets placed in the future to be in the live market, whether it's Lightning Bets or traditional live betting on spread, moneyline, or totals market.
Industry push into live betting
Betting on the outcome of the next possession, play, or even pitch while you watch is a rapidly growing industry. DraftKings was the first to introduce micro-betting in June 2019, when it unveiled its "Flash Bets." At the time it was only available for tennis, but it has since expanded to include sports such as the NFL and MLB.
When it was first announced, DraftKings SVP Jordan Mendell noted that "live wagering is already widely popular today, but also represents a crucial part of the customer experience and engagement tomorrow.”
The trend has continued to surge so much that there is now a sportsbook devoted entirely to mico-betting: Betr, a platform headline by social media influencer Jake Paul.
Paul said in August that "Micro-betting is the TikTok-ification of sports betting, and I am excited to bring it to the masses through Betr."
Betr officially released its in-game wagering platform last month. However, it does not accept real-money users yet — that is expected to go live at the beginning of 2023, starting in Ohio.
