“Key product trends in the US”: Interview with Altenar’s Product Director
Giannis Papakonstantinou, Director of sportsbook Product at Altenar, discusses the key trends shaping US sportsbooks, from player props and same-game parlays to personalised content and gamification.
Interview.- The US sportsbook market has evolved well beyond the core spreads, totals and parlays that once defined the local betting experience. As player expectations continue to change, features such as player props, same-game parlays, micro-betting, personalised content and social functionality are becoming increasingly important to sportsbook product strategies.
In this interview, Giannis Papakonstantinou, director of sportsbook product at Altenar, looks at the key trends shaping sportsbook development in the US, from the growing focus on individual athletes to the rise of personalised and more interactive betting experiences. He also explains how product priorities in the US differ from other regulated markets and what sportsbooks need to consider when adapting their offering to American bettors.
What does the US market expect from a modern sportsbook product today?
Let’s take a step back and define what constituted the successful sports betting platform a few years ago. Offering the core betting markets for US sports, such as spread and total markets and presenting them in the local way that bettors expect, in the 6-pack view, was probably sufficient. Some more advanced platforms back then also offered some functionalities such as parlays and teasers.
Parlays are like the ancestors of today’s same-game parlays. Now moving a few years forward, the situation is very different. Some of the most important additions relate to the addition of the player special markets and the same game parlay functionality. Player special markets are actually as important as core markets if not more important, and bettors expect to be able to combine them with the core markets, the rest of the core sportsbook markets.
We can add to this the micro-betting markets which allow players to place live bets on what’s going to happen next during play, basically, so next play markets.
“Parlays are like the ancestors of today’s same-game parlays.”
Giannis Papakonstantinou, director of sportsbook product at Altenar.
When building a sportsbook for US bettors, what product priorities differ most from other regulated markets?
There are three main differences. First of all, there is the local content. US bettors focus on specific competitions like NBA, NHL, MLB, NFL and of course local college leagues and markets. The second thing is the content presentation. In comparison with a traditional European sportsbook where content is presented in a huge list of events format, US books focus on presenting what the customer cares for the most.
US sports and player special markets are presented in a very prominent space. The third thing is betting patterns. So there’s a difference between the betting patterns of European bettors and US bettors.
European bettors prefer to place bets on the winner markets, on head-to-head markets, and create accumulator bet slips, while the focus of the US bettors strictly relates to same game parlays, placing bets on players actually combining player special markets.
Player props continue to attract significant attention. Why do you think this betting format resonates so strongly with American audiences?
So, player special markets are already super popular in the US market. The dynamic is growing in other jurisdictions too. I really believe that this is a cultural thing.
The young generation doesn’t have strong connections with clubs and teams. They connect, though, with specific individuals such as athletes. They are supporters of those individuals rather than teams and that is being reflected also in their betting patterns. This is why players’ special markets are so popular.
This is why players’ special markets are so popular.
“The young generation doesn’t have strong connections with clubs and teams. They connect, though, with specific individuals such as athletes.”
Giannis Papakonstantinou, director of sportsbook product at Altenar.
Beyond player props, what other betting trends or engagement mechanics do you see becoming increasingly important in the US market?
So besides player props and the functionalities that we already mentioned such as the same game parlay, a few things are becoming super popular.
One of them, and probably the most important one, is the personalised content, based on user-betting patterns, which allows sportsbooks to replicate the recommended-for-you approach that users are already familiar with from other platforms, like Netflix.
Then it’s the social community aspect, which allows players to chat within the platform, copy from friends, or follow influencers.
And lastly, it’s the gamification and loyalty programmes, which are more engaging and help with acquisition and retention of the players, compared to the kind of old approach and simple, overall approach, get just a cash-back bonus.
