6 November, 2023

Final Word: Data.Bet CEO Yurii Berest

Gambling Insider speaks to Yurii Berest, CEO of Data.Bet, about the growth of esports betting and how the company helps operators maximise both revenue and efficiency by using Data.Bet’s services

Tell us a bit about Data.Bet.

Data.Bet is a tech-savvy esports data provider, offering operators a comprehensive esports betting solution. Our services include a live score feed, odds feed, iFrame solutions and advanced risk management.

What makes us unique is the synergy of our traders’ expertise and data-driven automation, resulting in a high-quality product. We offer a centralised entry point to esports betting with a portfolio including 12,500+ live events monthly, 2000+ markets and 30+ popular esports disciplines.

Our commitment to speed, efficiency and delivering outstanding results for our clients is paramount. We maintain an in-house trading team, ensuring weekly platform updates for enhanced performance.

Moreover, we are proud of partnerships with official esports live data sources like Bayes and Grid, providing minimal delays in delivering in-game information for a seamless user experience.

Is the popularity of esports betting growing and, if so, why do you think that is?

Yes, the popularity of esports betting is consistently on the rise. Recent data from The Global and United States eSports Betting Market Report & Forecast 2022-2028 underpins this growth.

The global market is set to rise from $523.9m in 2022 to a projected $1.45bn by 2028, with a CAGR of 18%. In the US, it’s expected to grow from $56.5m in 2021 to around $240m by 2028, with a CAGR of 23%.

The global esports betting market share by player age highlights a growing audience. The majority of esports bettors are expected to be between 26-30 years old, making up over 44% of the audience by 2028. This younger demographic is a big part of esports betting’s rising popularity.

What aspect of the business is Data.Bet currently focusing on?

We’re committed to helping operators make the most of their marketing investments, ensuring they maximise revenue and operational efficiency. Additionally, continuous innovation and product enhancement are integral to our business strategy, keeping us ahead in the esports betting industry.

What markets haven’t you broken into yet, that you would like to?

While esports is a growing industry, it has yet to reach the same level of popularity as traditional sports betting. It presents a unique challenge, where the industry generates less revenue despite higher operational costs.

To resolve this, we believe in the significance of widespread esports education and awareness. As for our goals, we are planning to expand into new markets, with a specific focus on LatAm and the US.

Explain to us about your ‘Player Props’ feature.

Player Props is an exclusive feature crafted by the Data.Bet team initially launched in CS:GO and recently extended to Valorant fans. This feature adds a personal touch to esports betting.

It empowers users to bet on individual player performances, such as Total Kills and Total Deaths, bringing a customised and personalised aspect to their betting adventure.

The introduction of Player Props brings benefits to both bettors and operators in esports betting. Operators can enrich their offerings by expanding the variety of markets and bets available when, for players, it means a more exciting and personalised betting adventure.

Operators often hold the misconception that introducing new content or features results in bettors shifting from existing offerings to newer ones; ultimately, not impacting future turnover or player activity.

At Data.Bet we realised that we could enhance accuracy by including data on how users place their bets

However, it is crucial for us to emphasise that the addition of new content does not mean a player moves from one market to another, but rather improves engagement within the current market; it’s about adding, not replacing.

We firmly believe that operators must provide a different quality content for live events. It will not only keep them competitive but also make bettors more active due to the wide variety of markets, significantly influencing the company’s turnover.

Our approach is to provide players with opportunities to engage in varied betting activities during a single event (match). Operators can achieve this through various means: offering a wide variety of newly added markets, settling bets quickly and increasing the frequency of bet settlement. We at Data.Bet intentionally provide markets that settle fast. 

For instance, in some games, bets are settled three to five times, every 10-15 minutes, during the match (the frequency varies by the event and its type). This combination of frequent bet settlements and a diverse range of content creates a more engaging and personalised experience for players, boosting their chances of winning during a match.

Simultaneously, operators benefit from a broader range of offerings and increased engagement from bettors.

The increase in bets represents the success of the Player Props feature, demonstrating that introducing new markets and personalised content enhances player engagement, ultimately, resulting in increased betting activity.

This data supports the idea that introducing new markets aligns more closely with player preferences, creating additional volume and turnover.

How do you think risk management can be improved across the esports industry?

Risk management plays a crucial role in the world of betting, directly impacting operators’ profits. Historically, the established approach for supplier companies has been to provide odds without requiring information about the actual bets.

Some of them do offer risk management for the operator for an additional fee, but this is more of an exception than a rule.

At Data.Bet we realised that we could enhance accuracy by including data on how users place their bets. For us, the company’s primary technological value is mathematical models for line calculation.

The process of their development involves a deep analysis of historical data and the search for additional sources of information. At Data.Bet, we have seen an opportunity to achieve a new level of accuracy by incorporating user behaviour trends based on their bets into our calculations.

As a result, obtaining feedback from the bookmaker is not merely an option but a mandatory requirement for achieving the highest level of accuracy. Consequently, AI-based models analyse player bets and make immediate adjustments to the odds.

Combined with minimal bet delays (down to one second) and a strong technical infrastructure, we aim to provide a top-notch experience for players and maximum profit for operators.