iGaming is one of the fastest adapting industries to customer expectations and follows market trends very closely. Accordingly, it is safe to say that it is constantly developing, changing, and innovating. In other words, contrary to popular belief, it doesn’t always offer the “same things”: it is very open to innovations and can change itself as its user base changes. In this sense, micro-betting is one of the newest services offered by sportsbooks: let’s take a closer look at what it is and why it is loved by the new generation of bettors.
What Is Microbetting?
It’s best to start with a definition. We can define micro-betting as a system that offers instant betting opportunities to users using high-end technology. Technically, it is similar to live betting, but there are some important differences:
- Classic live betting gives you the opportunity to place bets on different outcomes from the beginning to the end of a match/event, and you will know whether you have won or not (resolution) when the match/event is over. For example, in the twentieth minute of a soccer match, you place a bet on what the score difference will be at the end of the first half. The resolution takes place at the end of the first half;
- Microbetting is built on providing instant opportunities to bet with real-time data analysis. You don’t have to wait for the match or event to end to see if you’ve won the bet. Almost always, resolution happens within a few minutes. For example, in a basketball game, you can try your luck on which player will score the next point and see if you have won in a very short time.
Another distinctive feature of micro-betting is that the betting range is quite low. Unlike traditional live betting, you can place different bets in a row, even with as little as 1 PLN. In this way, they are a better option for casual bettors and are designed to keep you engaged until the end of a match/event. By completing the Verde Casino logowanie, you can see for yourself what it looks like. Both an online casino and a sportsbook, Verde supports live betting and micro-betting services.
Why Younger Audiences Are Embracing Microbetting
Microbetting is a service that is predominantly preferred by the new generation of bettors, not old-school ones. While there are multiple reasons for this, the most important ones are the following:
- Digital feedback habit: Millennials and Generation Z are used to “digital feedback”. Social media notifications, instant messaging, and on-demand content are among the services/features that shape their expectations, and microbetting is just another one of these. In other words, most of them believe that this is how betting should be and don’t even think that it can be offered in any other way;
- Instant results: In traditional betting, it can take hours before you find out if you have won your bet. The duration of a soccer match is 90 minutes, and it can be even longer. For the new generation, such a long wait is unthinkable. The instant display of results suits their instant gratification habits and turns sports betting into something similar to slot machines. For old-school players, betting is something that needs to be prepared in advance and takes time, but the new generation doesn’t have such a long time: they want everything to work out immediately;
- Easy integration: Because it uses modern technology, microbetting is much easier to access. It works seamlessly on smartphones and is also suitable for touch controls. Microbetting uses an intuitive and responsive interface, a few taps are enough to place a bet.
Another reason why it is easier to access is that the betting range is quite low, as we mentioned above. You can try your luck with small amounts without wasting time by finding value bets or analyzing odds: even a beginner can place their first micro bet in a few seconds.
The Future of Microbetting
Considering that it can be used in almost every sport and the number of new-generation bettors is increasing, it would not be an exaggeration to claim that micro-betting will become much more popular. However, this may not be very profitable for sportsbooks. Betting with very low amounts and seeing the result immediately will create great opportunities for new customer acquisition, but low amounts also cause operators to not make high profits. Simply put, micro-betting is not a feature that will make money for sportsbooks.
Therefore, even if it is becoming more widespread, it will not be possible for it to replace traditional betting and become the new norm. The opportunity for big winnings for both bettors and sportsbooks is in pre-match and classic live betting, where the wager range is much wider. For the same reason, micro-betting will not be able to go beyond being an additional feature that directs players to these two main services. In other words, do not expect to see a sportsbook that only offers microbetting: no operator will start such a business because it is not profitable enough.
It would also be right to say that some problems will arise in terms of responsible gambling. By its very nature, microbetting is a service that encourages players to bet more often. This is the exact opposite of the fundamental purpose of responsible gambling, which is based on restricting the time, budget, and access allocated to gambling. Since it is a very new service, there is no regulation specific to microbetting yet, but it would not be wrong to think that some licensors will impose serious restrictions on this service in the near future.
This is not to say that microbetting is a “passing trend”. Like everything else that is popular, it will continue to exist, but it will not be a trend that will shape the future of iGaming. In fact, it will not be anything more than an additional feature due to restrictions from both operators and licensors.
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