How TRUEiGTECH Reduces Latency in Odds Feed for Sports Betting?

Odds API and its Meaning for Sportsbook 

Odds represent the likelihood of the occurrence of an event. They reflect on the probability of an outcome that can either be in support of the bettor or not. There are different kinds of odds formatting, which are moneyline, decimal, and fractional.

• Moneyline– Also known as the American format, where odds show how much you need to bet in order to win a certain amount.
• Decimal– These represent the total payout, i.e., winnings and stake for every unit.
• Fractional– It is commonly used in the UK and Ireland and uses the ratio of profit to stake(profit/stake) to represent an odd.

These odds are an important part of the payouts. Typically, if the odds are lower, then you will have less payout, although with safer outcomes. On the other hand, higher odds often offer bigger rewards, but the probability is lower. Moreover, these odds can be adjusted in real time to manage risk exposure.

While building a customer-centric sportsbook, integrating real-time odds can become a crucial step to offer timely and transparent betting opportunities. Consistent updation of odds can determine the market value, with bettors feeling more comfortable in placing their bets. Moreover, with additional formatting, you can cater to bettors with different preferences as well.

What is Latency in Sportsbook Odds

Latency in sportsbook odds refers to the delay that occurs in a real-time event, such as an injury, goal, etc., and how it reflects on the platform, its updates, and bet confirmations. This delay can severely impact a bettor’s experience, making them worried and nervous about the outcome, and causing them to assume that they might lose their money.

Advantages

Latency can be advantageous to users if it is low. Here’s how:

• Accuracy– Most bettors prefer live game events to know odds that accurately reflect these events. Low latency provides accurate results almost instantly after the event takes place.
• Engagement– Latency in odds keeps bettors engaged during live events. They are constantly hooked on updates, goals, corner bets, etc., so that bettors can make better informed decisions.
• Trust– A platform that is responsive and presents real-time updates from live game events gives the impression of reliability. This increases the perception of fairness among bettors and allows them to trust your platform.

Disadvantages 

When latency is high, it can be disadvantageous for sportsbook operators:

• Lost Revenue and Reduced Bet– Delays in updates can cause bettors to miss several betting opportunities. This can result in billions of dollars in potential bets going uncollected.
• Loss of User Trust– Placing already outdated bets can make users feel less confident in your platform. They might feel that your platform is unfair and believe that it is broken, which will, in turn, damage your reputation.
• Exposure to Sharp Betting– Outdated or stale odds can easily be identified by savvy bettors. This can let them make risk-free profits by betting on both sides across platforms, which will directly affect operator margins.