In an interview with SBC News, Greg Ivry, OddsMatrix Senior Sales Manager, shared more details about the newly developed Historical Odds product.
Hi Greg, can you give us some background on the newly developed Historical Odds product?
At OddsMatrix (the EveryMatrix sportsbook), we are a supplier driven by data and our clients. Working closely with leading Tier One global operators, we’ve been aware of recent industry trends such as marketplaces becoming more competitive and the need for operators to deliver stronger hold rates.
These trends have resulted in an increased appetite amongst this segment for powerful products that enable these goals to be achieved.
In support of this, we’ve been harvesting sportsbook data in-house for several years and had scoped a product that offered reliable, accurate, trusted and well-structured archive data to meet the needs of operators. Our ambitions for this product dovetailed with a global Tier One operator’s requirements, creating a perfect opportunity to collaborate and marry our data driven approach with our client first philosophy.
Through this collaboration, we were able to refine our product development and ensure it delivered on our clients’ specific requirements, while also ensuring the foundation of the product remained flexible for further customization as we scale to the industry.
One of the central tenants of OddsMatrix is our volume of coverage. We are dedicated to cover every sporting moment for our partners and their players with our always-on sportsbook offering over 200,000 live betting events every month. So, we wanted this product to tap into our vast catalogue of content and unlock vital data for operators across the industry.
Talk us through the A-Z of Historical Odds…
Sure. So, this product vision became Historical Odds. In a nutshell, it offers operators a comprehensive set of archive odds from across the industry for all sports in our catalogue over multiple years. In essence, an empowering trading tool, this product is all about offering reliable archive data at scale.
Historical Odds also complements our wider odds feed products like Bookmaker Feed (offering odds and settlements for 150,000 pre-live and 170,000 live monthly events) and Market Feed (delivering real-time multiple bookmaker pricing).
What do you think this Historical Odds product offers operators?
Like so much about our OddsMatrix sportsbook, this is about empowerment. Historical Odds brings transparency to pricing and arms operators with the intelligence to understand their pricing strategies and benchmark across the industry over long time periods.
The breadth and depth of the product can be customized to each client’s needs with data available on a wide range of sports covering over 1500 days of data. This is an invaluable tool for deep data mining and price optimisation offering datasets as precise as a single sport or season, or as wide as a range of sports over multiple years.
Historical Odds is about widening the lens and sharpening the focus of our partners. This product offers a wide-screen view of the industry to enable them to finetune existing pricing strategies or support the development of new odds output initiatives.
What pain points do you think this product solves for specifically Tier One operators?
The current landscape in sportsbook is a challenging one. There are increased regulatory hurdles to overcome, super competitive markets and rising operational costs, so the impact on bottom-line margins and hold rates are clear. Indeed, we have seen significant M&A in the price modelling sector in the last couple of years to help combat these challenges.
Additionally, we have seen leading operators take pricing in house and build their own markets. As a leading global supplier, our role is to provide solutions to operators to meet their needs and support their initiatives. We continue to offer live data feeds for clients, but the Historical Odds product provides solutions for clients who are building their own markets.
This tool allows operators to take a deep dive into thousands of days of data to unlock essential data points to gain a deeper understanding of established market conditions, develop razor-sharp pricing and ultimately gain a competitive edge in hyper-competitive marketplaces.
How flexible can this product be?
As we say at EveryMatrix, everything is possible. We allow operators to dive as deep as they need to unearth valuable market insights. The Historical Odds feed can be customised for specific sports, markets or even time periods so clients can get a finite understanding of how they and their competitors measure up across a wide range of metrics and data points. We offer this on an ongoing basis, so clients no longer need to wait for the end of a season to access the data.
How is this product delivered?
We have developed a robust, unique API that enables customers to receive a daily delivery of data and odds information on events that were settled 45 days or more ago. This consistent cadence of communication empowers operators to continually refine their pricing strategies.
You mentioned your experience with Tier One operators, can you demonstrate how this product has supported any specific players in this space?
We have been seeing a lot of interest in this product in North America and beyond. Let me pick out Kindred Group, one of the leading global sports betting and iGaming organizations, as an original partner in this project. In the last few years they have been migrating to their proprietary sportsbook platform and to ensure a smooth transition they needed to pressure test their new in-house odds models. While we had the raw data, we collaborated to create a custom solution for Kindred, that is also flexible enough to scale to other operators who have similar needs.
We worked closely with the Kindred Quants and Data Science teams to develop a product that met their needs and we were even able to deliver the final solution ahead of schedule. We are confident we can customize this product further to meet the specific needs of other operators.
Are you looking forward to the SBC Summit Americas this week?
I enjoy SBC Sumit Americas every year, and I am excited to spend time with so many suppliers and operators in attendance. Being in Florida this spring adds an extra level of energy to the conference this year.
As you can imagine, there is a lot of interest in Historical Odds and our other products in North America and in LATAM so my schedule is pretty packed. Having said that, do drop me a link on LinkedIn if you think this product can provide valuable support to your pricing output.
The original version of this article was published by SBC News.
