Sports, Streaming, and Betting: How the Intersection is Revolutionizing the Industry

As the worlds of sports and entertainment intersect with technology, traditional media is converging with cutting-edge gambling platforms. The lines between the two continue to blur, with a growing number of media companies embracing the intersection of sports streaming and sports betting. It's clear that this trend is here to stay.

In the past, I have extensively covered how critical it is to develop a modern digital monetization strategy for your content. To succeed in 2023, video entertainment should be Live, Gamified, and Personal. Fan expectations are increasing, and they want to be able to interact with their favorite sports and teams from anywhere and at any time. As the quality of mobile experiences increases, fans will watch for longer and be more likely to take part in monetizable actions such as betting and shopping.

“Perhaps the greatest benefit to sports streamers will be that 5G enables them to meet fan expectations to be able to interact with their favourite sports and teams from anywhere at any time. As the quality of these mobile experiences increases, fans will watch for longer and will be more likely to take part in monetizable actions such as betting and shopping. In fact, when it comes to betting, the low latency of 5G will be a great enabler of sports betting.”

With ultra-low latency technology, which enables direct connections to consumers, next-gen apps like live streamed VR, and interactive betting software can be unlocked. As the betting industry continues to attract more customers, streaming providers must step up their game and provide dependable, broadcast-quality video with the lowest possible delay to support interactive betting software. Only then can viewers be confident they’re betting on an equal playing field with fans in attendance at the court, stadium, or arena.

NBCU, Amazon, and FanDuel are among the established players that have integrated sports betting into their coverage. NBCU has integrated betting into its coverage of the PGA Tour on Peacock, while Amazon's partnership with DraftKings and TNF will bring sports betting insights and odds to fans during live pregame coverage. FanDuel has launched its own gambling-focused cable channel and streaming service, FanDuel TV and FanDuel+, respectively.

Meanwhile, Disney, which acquired Twenty-First Century Fox back in 2019, is set to launch its own live betting integration. The company has reportedly been in talks with major sports-betting companies to license the ESPN brand for at least $3 billion over several years. With a stake in DraftKings already in its pocket, it seems likely that Disney will partner with the betting giant to expand its reach and offer fans a new way to engage with sports content.

Lastly, Warner Bros Discovery Sports is exploring digital activations around the UCI Track Champions League, utilizing cutting-edge Web3 technology. The company is offering fans unparalleled opportunities to interact with track stars, immersing them in the action like never before.

“The next step in sports will be to make experiences more immersive, using AR and VR technologies. More bandwidth will be required, and edge computing will become a technology enabler for low-latency and high-reliability experiences. ISPs and OTT service providers will have to collaborate for this to become a reality.”

It's not just about the money; it's about revolutionizing the sports industry and creating unforgettable experiences for fans. As the world continues to evolve, it's crucial to stay ahead of the curve and embrace the intersection of sports, entertainment, and technology.

The Power of 'Liveness': How Live Sports Continues to Reign Supreme in a Changing Media Landscape

In the world of sports, 'liveness' is king. The unpredictable nature of sports means that once a result is known, the tension and entertainment value drops. That's why live media rights in the global sports industry are expected to reach a staggering $49.1bn in 2024, dwarfing the $4.9bn expected for short-form highlights and in-play clips in the same year.

This insatiable appetite for live sports is not just limited to a particular demographic. In fact, 83% of 16 to 64-year-olds watch live sports either on television, online, or in person, with men and women almost equally invested in the experience. It's no surprise then that three out of the top 40 most-watched programs in the US in 2021 were live sports events, with the delayed UEFA Euro 2020 attracting massive audiences across key European markets.

But it's not just about entertainment. For sports fans, access to live sports is a priority, with 91% of those who subscribe to pay-television services doing so to access live sports. The importance of live sports to pay-TV customers is so significant that 82% of them would scale back or cut their subscription if they no longer needed it to watch live sports.

Despite the shared passion for live sports between broadcast and betting audiences, there are distinct differences in their consumption habits. For betting customers, speed is of the essence as they quickly switch between events to stay up-to-date with the latest developments. In contrast, general sports fans tend to indulge in longer viewing times, emphasizing picture resolution and audio clarity as part of a more social experience.

In the end, the love for live sports is universal, but the ways in which we consume and enjoy it are as diverse as the sports themselves.

Online Live-Streaming Sports Market Set to Explode

As more and more sports fans opt for online viewing, the global market for live-streaming sports is projected to grow at a compound annual rate of 21.26% between 2021 and 2028, reaching $87.34bn. This trend is driven by a desire for control and flexibility in sports viewing, with fans jumping between streams of different games and sports betting customers seeking out platforms that offer multiple simultaneous matches.

In the US, the number of people watching live sports via over-the-top channels is set to rise from 57.5 million in 2021 to 90.7 million in 2025, while worldwide, more than a third of sports fans in 19 major markets already use live streams to watch sports.

The growth of live streaming is also helping to attract and retain younger viewers, with those aged between 18 and 34 twice as likely to watch sports via a live stream as those aged 55 and over. And for many fans, watching live games is the top reason for paying for an OTT subscription.

As engagement rates for live videos on Facebook continue to soar, the appeal of live streaming is indicative of broader trends in media consumption. With the market set to explode in the coming years, the future of sports broadcasting is very much live and online.

The Youthful Face of Sports Betting Customers and Its Influence on Sports Coverage

Sports betting customers tend to be younger than general followers of sports, according to evidence. In the US, most sports bettors fall within the age group of 30 to 44, while the average age of the established sports properties' viewers in the country is 49 years and over, except for two. A similar trend is observed in the UK, where the largest percentage of online gamblers falls within the age group of 35 to 44 years, while more than four out of ten people who frequently watch Premier League football are over the age of 45. The average age of sports betting customers in Australia is seven years younger than the average age of a sports fan, while in Germany, it is even younger at 32 years old.

As a result, sports coverage has incorporated sports betting elements to appeal to a broader segment of younger viewers. Many multimedia companies are establishing collaborations with betting operators to include betting-related information in broadcasts and establish dedicated programming slots on sports channels. There is a recognition that live sports can drive betting, and vice versa, and viewers who place bets are more engaged in the sports event. Betting customers are also more likely to watch pre-game shows and analysis, with nine out of 10 viewers in the 18 to 34-year-old male demographic more likely to watch a sporting event if they have placed a bet on the action. The growing sports betting industry offers engagement and monetization benefits to sports media companies in an increasingly fragmented landscape.

The Importance of Live Streaming in Sports Betting

The rise of digital platforms for sports consumption has led to the inevitable consequence of live streaming in sports betting. Offering accurate information, betting stimulation, and match visualization during live coverage, live streams have become a must-have for prominent sports betting operators.

Operators who streamed a higher percentage of events generated a significant increase in handle per bet and handle per event against the baseline. However, simply offering a window for live streaming may no longer be sufficient as the betting and media worlds continue to converge and fragment across multiple devices.

Live streaming offers engagement opportunities for operators to maximize customer loyalty and increase revenues by driving in-play betting and micro-betting. Additionally, providing coverage of sporting competitions that are not top tier enhances the credibility in the eyes of customers who are keen to explore more unusual offerings.

To ensure a cohesive experience, companies should consider integrating streaming capabilities into their websites, mobile apps, and retail outlets. By doing so, bettors are more likely to remain engaged and loyal to the brand, ultimately leading to increased revenue-generating opportunities.

In conclusion, live streaming is set to play an increasingly prominent role in sports betting, and operators must recognize the importance of providing quality, broad coverage that meets and exceeds customers' experiential expectations. By doing so, they can ensure that each individual remains on a journey of personalization that will ultimately lead to brand loyalty.