Connect with us

News

Caesars and Genius Sports Sign Important Data Deal

Published

on

caesars and genius sports sign important data deal

Caesars and Genius Sports Sign Important Data Deal

Caesars Palace on the Las Vegas Strip. (Photo by Ethan Miller / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Casino giant Caesars Entertainment continues its attempt to separate itself from the sports betting provider pack with the Tuesday announcement of a deal with top-end data provider Genius Sports for access to their entire data portfolio, starting with the NFL.

“Genius Sports data feeds will support the Caesars trading and sportsbook platform by providing access to official NFL products, including official live sports data feeds,” According to a Tuesday statement.

Clients are demanding more data to make informed bets. Data has become the cornerstone of sports betting. These demands have led to a rise in the value of data, especially for the NFL. Genius Sports won the fight for the exclusive rights to NFL data in spring and paid up. Rumours suggested that the six-year distribution agreement would be worth between $100 and $250 million, with the higher end being more likely to be a projection.

“We are thrilled that Caesars Entertainment has recognized our investment in official sports data as it fuels the next generation of fan experiences,” Genius Sports CEO Mark Locke.

The Deal

The Caesars/Genius Sports tie-up is a win-win for both companies. Genius gains the benefit of one of/if not the most successful sportsbooks in the country to use their full suite of technology and Caesars gets to use exclusive data and products to enhance their bettors’ experience.

Ceasars and Genius Sports will collaborate on advertising, with Genius providing technology for the betting provider. Caesars will enjoy increased customer acquisition and retention, and Genius Sports can take advantage of the greater exposure that comes with one the largest online sportsbooks in the country.

“Acquiring and retaining fans now requires a broader suite of innovative and interactive engagement tools than ever before,” Genius Sports chief executive officer Mark Locke said in a news statement. “We are thrilled that Caesars Entertainment has recognized our investment in official sports data as it fuels the next generation of fan experiences. Our range of live sport, in-game betting products and media services will support Caesars’ acceleration of its U.S. market growth, through exciting new brand, acquisition and monetization opportunities.”

What exactly is data used for?

Data providers have one goal: to provide accurate statistics to bettors as quickly as possible in order to improve the overall betting experience. In-play betting cannot afford to wait for reports.

This data is used to generate odds, educate bettors, and adjust real-time betting lines throughout a contest. “Official data” is quicker and far more reliable than “unofficial data”.

Next Gen Stats, which will track and monitor the accuracy and speed in shots as well as chips in shoulder pads and chip in hockey pucks, is part of the evolution of data. A more informed bettor is a happy bettor and that’s what data’s goal is to accomplish.

Caesars and the NFL

Caesars, since launching their mobile app has not been shy about focussing on their NFL offerings. Not only are they official sports betting provider of a host of individual NFL teams but they are considered a top-tier or ‘tri-exclusive’ partner of the league, meaning that the NFL considers their relationship among their most crucial.

Caesars last month also announced that they had acquired naming rights to arguably the most iconic NFL venue – the Louisiana Superdome which has hosted Super Bowls and will continue to do so in the future.

This made it a priority for Caesars to acquire official league data.

“True to the Caesars experience, it’s our goal to treat our sports bettors like royalty,” The release was signed by Kenneth Fuchs (head of sports at Caesars). “We know how exciting NFL betting is for our players and through our partnership with Genius, we can now provide bettors with the live NFL data they need to make wagers like a true Caesar. We look forward to improving our NFL sportsbook offerings through this partnership by giving customers a more engaging and exciting way to play.”

It Wasn’t That Long Ago…

The NFL was vehemently opposed to any alliance with the sports betting industry. It wasn’t only 2015 that NFL Commissioner Roger Goodell said: “We’ve been very open about our position that we oppose legalized sports gambling. We haven’t changed our position on that. I don’t anticipate us changing that going forward at all.”

Now, the sports betting industry is a huge benefit for the overall NFL product and data is an enormous part of that. Genius Sports’ forward-thinking investment into data should enable them to make a handsome profit in the betting industry. Caesars should also be able to cash in on the wagering industry because of their solid relationship with the NFL, as well as a complete suite of official data.

Source * www.sportsbookreview.com – * Source link