Press Releases
More Than Two-Thirds of Sports Bettors Find Parlays and Futures More Exciting Than Straight Bets: WagerWire Survey
WagerWire, an innovative marketplace for open sports bets, found in a new study that a strong majority of bettors believe parlays and futures are more exciting than “straight bets” (i.e. spreads, moneylines and over/unders). Findings from WagerWire’s second release of data from a 2022 study conducted by Leger, a leading market research and analytics company, revealed that 76% of bettors feel parlays are more exciting than straight bets, while 67% indicated futures are more exciting than traditional bets on the spread, moneyline or total.
WagerWire’s initial data release focused on the need for education in the sports betting market, discovering non-bettors were 78% more likely to bet online if they were educated on how to bet.
Study participants conveyed similar consensus regarding their fondness of parlays and futures, citing the high-reward nature of those bet types, the thrill of predicting something correctly over the long-term future and the ability to have a vested interest in a team over a long period of time.
Most appealing factors of making Parlay Bets:
- 88% – Generally high-reward wagers
- 83% – Thrill of predicting several different outcomes correctly all at once
- 79% – Vested interest in many different players or teams/outcomes at once
Most appealing factors of making Futures Bets:
- 88% – Generally high-reward wagers
- 81% – Thrill of predicting something correctly over the long-term future
- 80% – Vested interest in a player or team over a long period of time
While bettors derive significantly more excitement from parlays and futures, there are a variety of impediments preventing users from placing more of these wagers. 41% of bettors stated futures bets take too long to settle. 49% of bettors said parlays are very difficult to win. 40% of bettors commented both futures and parlays bets offer no control over the bet once it’s been placed.
“Parlays and futures are already entrenched as mainstream bet types among US consumers, but this study has shown that as an industry we’re still only scratching the surface in terms of their true potential for bettors and operators alike,” said Zach Doctor, the co-founder and CEO of WagerWire. “Our bet trading marketplace turns these types of bets into tradable assets that gain and lose value in accordance with how the game unfolds and the market fluctuates.
Doctor continued, “Now you can jump in and out of futures all season, or capitalize on your crazy parlay after a few legs hit before it goes bust. Also you could sell just a fraction of your bet to lock in some gains or take some chips off the table, and let the rest ride toward that big win. That increased optionality is going to foster deeper and more consistent levels of user engagement with these attractive bet types, which in turn will serve to steadily grow their share of handle for operators.”
WagerWire is partnering with sportsbooks to create more opportunities to derive new value from parlay and futures bets. They most recently partnered with Wagr, a Tennessee-based sportsbook, to help accomplish the mission of reinventing sports betting. Both companies have a social-centric ethos and are collaborating on building community and providing a differentiated and engaging user experience.
The study was completed between July 8 – July 21, 2022, including 500 U.S. sports bettors and 200 non-sports bettors.
Latest News
THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE
The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Ireland’s NYC Hub
The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.
The Americas division was established in 2023 with the launch of The Unit’s partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unit’s activity in the Americas.
This new base will be located at Bank of Ireland’s NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.
The project will be put into practice by The Unit’s Head of Business Development & Account Management Mark O’Hare, who has relocated to New York and will be responsible for The Unit’s commercial growth in the region.
With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.
Paddy Casey, Co-founder at The Unit, said: “These are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.
“This will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.
“This is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. We’re looking forward to mapping out our future in the region with our team on the ground there.
“I would like to thank Mark O’Hare for making the move to New York, and I’m sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.”
Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.
“We look forward to hosting The Unit and wish them well in their endeavors to grow their business here.”
The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.
As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.
Latest News
Golden Matrix Group to Participate in the 2025 ICR Conference
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
Canada
Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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