According to Sportradar’s president and COO in North America Andrew Bimson, micro betting is the fastest-growing in-play betting segment. Despite its small size now, he expects that micro betting could amount to $20 billion worth of bets by 2027.
The fast-growing sports betting industry includes an established segment called in-play betting, which involves making bets after a sporting event has begun. Microbetting is a subset of in-play betting and involves making quick and focused bets on specific events during a game.
In baseball, micro betting allows bettors to wager on the outcome of individual at-bats. For example, people can bet on whether the batter will get a hit, walk, be hit by a pitch, strike out, or hit a home run. This is different from usual sports betting, which requires bettors to place their wagers on a money line, spread, total, game, or player prop.
On top of that, gamblers can now bet on the outcome of the first pitch or a particular inning, such as whether it will be a ball or strike, an out or a hit.
Future offerings could even include wagers on the speed of the next pitches. Football already offered similar options, where bettors can typically wager on whether a team’s possession will result in a field goal, a touchdown, a turnover or a punt.
The growth of micro betting is being driven by many factors, including the increasing popularity of online sports betting and the growing availability of sportsbooks.
Online sportsbooks are now equipped with real-time data processing technology, allowing them to provide odds quickly. As a result, bettors can react to fast-changing odds and submit their bet slips just as quickly.
“You don’t have to wait very long for your bet to settle. You’re going to get more play, longer sessions. It’s going to be a really popular bet going into the future.”
– Mark Hughes, PointsBET chief product officer
Micro betting apps in Ohio
Today, several betting apps are offering micro betting services in Ohio.
Other sportsbooks, like FanDuel and BetRivers, also provide micro betting services. While the specific markets may differ from platform to platform, many of the major players in the industry now provide this form of betting.
One mobile betting app that stands out is Betr, as it focuses on the concept of micro betting rather than sports betting as a whole. It is currently available in Ohio and Massachusetts.
Joey Levy, the company’s founder and CEO, said that the experience of micro betting provides “instant gratification” to the whole sports betting experience, and people might prefer it to traditional sports betting sooner or later.
With the increasing popularity of micro betting, some are worried it might lead to an increase in sports gambling addiction due to its fast-paced nature, which contradicts responsible gambling practices.
“You can get a hit of dopamine every few seconds. It’s more akin to playing a slot machine than betting on sports.”
– Keith Whyte, National Council on Problem Gambling executive director
Whyte maintains that people can become absorbed in the activity and make repeated bets just to feel the same kind of excitement.
For Levy, companies that provide micro betting must be transparent and upfront about the associated risks and to have these risks listed prominently on the website, app and all advertisements.