Bettorlogic's new in-play bet stimulation product increased sportsbook click-through rates during World Cup matches by over 300 per cent. CEO Mike Falconer talks to iNTERGAMINGi about how the company is expanding the betting technology even further
Can you explain how Bettorlogic’s Livelogic technology works?
Livelogic encourages in-play betting by offering ‘bet prompts’, or reasons to bet, responding to the unfolding conditions in any event, as they happen.
In a football match for example, a new bet prompt will flash up every five minutes or when a goal is scored. If Manchester United take the lead at home to Chelsea after 40 minutes, Livelogic might say: “When Manchester United are leading by one at home to Big-Four opposition after 40 minutes, they’ve won 12 of their last 13 matches.” It would look at the same position from Chelsea’s perspective.
We know from research that when given good reason, bettors are much more likely to bet and this correlation is playing out at all of our current Livelogic licensees.
How long did it take to develop the technology?
It has taken over three years to get Livelogic to the point we’re at now, we can offer relevant in-play output virtually 24/7. At peak, Livelogic produces over 15,000 reasons to bet every week. We’re continuously improving and scaling the technology, be that new sports, new languages, new formats or new features.
Which events does Livelogic cover?
Livelogic football now covers over 40 domestic leagues, the Champions League and all competitive internationals. Livelogic tennis covers all of the ATP 250 events for men and International level for women. Both of these are increasing by the week.
Why and how did Livelogic increase in-play customer click-through rates so much during the World Cup?
During the World Cup, we compared Livelogic with other non-Bettorlogic in-play stimulus, in terms of their ability to encourage bettors to go to market and bet. Across the 64 matches, Livelogic averaged a click-through rate of 8 per cent, against a non-livelogic average of 2.5 per cent, and a consistent 300 per cent increase.
It proved that by delivering the right information, at the right time, in the right way, Livelogic can significantly improve the betting volumes of any major operator or media-owner.
Who has integrated this technology so far?
We’ve had interest from most of the major sportsbooks and media-owners, and have a range of current licensees, including: Ladbrokes, Paddy Power, Stan James, Victor Chandler, 188 and Talksport. We’ve also developed a Livelogic advertising format with Connextra, the leading marketing software company.
Is there any other technology to rival Livelogic?
In terms of its scale, speed, flexibility and ability to influence in-play betting behaviour, we think Livelogic is unique.
Do you believe that in-play betting is set to revolutionise the online sports industry - or is it on its way already?
There’s little doubt that in-play will be a central part of the future of on-line betting - and all of what we have in our development pipeline reflects this.
How do you think online sports betting is affecting the land-based market, ie betting shops?
We don’t operate in the land-based domain, though from any distance, it’s clear that the opportunities that on-line and mobile platforms present, in turn create challenges for land-based operators.
What projects are you currently working on or do you have in the pipeline?
As mentioned earlier, we’re further expanding Livelogic to ensure that it can sit alongside the in-play offering of any on-line sportsbook in terms of events it can cover - and its ability to influence right through the customer journey. We’re also working hard to make integration even simpler and more flexible.
Bettorlogic also has two entirely new products due for release this year, which like Livelogic, bring a whole new dimension to how you can use and present information to stimulate betting activity. I’m afraid I can’t say anymore just yet!
