Pulse

Sports betting: overwhelming odds

By Lewis - 1 June 2020

Lilit Nikoghosyan, Head of Operations at Wiseodds, speaks to G3 about the company’s new peer-to-peer betting platform and how its social gameplay will attract operators and players worldwide.

How does Wiseodds change the traditional understanding of betting?

The beauty of the Wiseodds platform is that it allows bettors to use their sporting knowledge to secure bigger wins from smaller stakes, as the individual with the highest winning odds coupon claims all the money on the table once the bets have been settled. We truly believe that this new style of betting will resonate with a wide audience who enjoy the social aspect of betting and want to compete against friends rather than the bookmaker.

What was the rationale behind combining poker and sports betting in a social lobby?

The vision behind creating Wiseodds was to bring a more fun and sociable experience compared to existing sportsbook products. We saw an opportunity to bring elements of the online poker gameplay and incorporate sports betting markets into a product that’s never been seen before. Players can message their friends to join the same table, while they can also check their bet slips too.

What betting opportunities does Wiseodds offer? What sports can players bet on?

Our offering currently consists of four different table types – Over Tables, Under Tables, Bet Poker Tables and Bet Poker System – and the option to place bets on major football and basketball matches. Over the coming months, we’ll be introducing a greater number of sports, along with in-play markets for the first time.

What is the difference between Over Tables and Under Tables?

The two tables work in a similar way to regular over and under markets found on the homepage of a sportsbook. Bettors can predict whether the number of goals or points in a match will be above or below the given number.

The only difference is that you’re competing against those who are also sitting at your table, and the highest winning odds coupon picks up all the cash from the session.

How will you entice punters, many of whom have placed ‘traditional’ sports bets for years, to your platform? Does Wiseodds target the new generation of sports bettor?

Social gaming is becoming very popular with millennials and the Generation Z demographic. They have grown up with various forms of social media platforms and they’re used to interacting with friends and colleagues throughout their daily lives.

This is influencing the modern-day bettor too, as they’re looking at ways to share their experience with friends. Wiseodds provides the perfect platform for groups to come together and wager on their favourite sports, teams and players in a safe and secure way.

How do operators benefit from integrating Wiseodds onto their sportsbook?

Wiseodds will allow operators to differentiate themselves in today’s saturated sports betting marketplace. Quite simply, there’s nothing like our product available right now and for those that want to be the first to market innovative concepts, integrating our platform is the ultimate solution. Crucially for operators, it’s a low-risk solution as the product mitigates cash flow with all winnings taken from the pot available on the table at that time.

The other significant benefit to operators is the speed in which we can integrate the Wiseodds platform. Our talented and efficient technical team can seamlessly plug the product into an ecosystem within 24 hours, allowing online sportsbooks to offer their customers an innovative new product within a matter of days.

Could you tell us about your plans to expand the product?

We have plans in place to expand our product. We’ll be introducing various new table choices and a greater volume of sports to wager on. We’ve only just scratched the surface in what we can offer bettors with this innovative concept. Watch this space.

Have you signed any partnership agreements? What is your roadmap for international expansion?

Since launching Wiseodds, our platform has generated a tremendous amount of interest from operators worldwide who have identified the potential of this exciting new product.

We recently announced our first platform integration deal with BetConstruct making Wiseodds available to its global network of operators. Partnering with such a well respected sportsbook provider is an important milestone for us and really demonstrates the quality of our offering. In the coming months, we’re very hopeful of integrating our product with several operators.

We’re in the final stages of securing our B2B supplier licence from the Malta Gaming Authority (MGA), which will significantly extend the reach of our services. Our long-term ambition is to be live in multiple markets across Europe and Asia. It’s an exciting time for everyone involved with Wiseodds!

Is social betting the future of sports betting?

It’s certainly a growth area for sports betting. Of course, there will be many bettors who will prefer the traditional route, but Wiseodds allows operators to tap into the popularity of social gaming from players across the globe. We’re on hand to guide and educate players through this game-changing new experience, which we’re sure they’ll come to love.