DALLAS — Dallas-based sports data analytics startup nVenue announced Thursday it has launched its own NFL "micro-betting" markets utilizing its NextPlayLive API technology.
nVenue provides these micro-betting markets through its API to betting data providers, platform providers and operators. The markets are available to customers to then offer to bettors in states where betting is legal, nVenue officials told WFAA.
"Micro-betting" means betting on individual moments in a game not related to the final score (outcome of the game score, over/under/etc.) – similar to a "prop bets." Think "will the next pitch be a strike or ball?" or "will the next play be a run, a complete pass or an incomplete pass?" Other examples of micro-betting could include: the speed of the next pitch or the outcome of a set of downs in football.
The company has already used its NextPlayLive API technology to power on-screen, updating analytics to enhance broadcasts during Friday night MLB games on Apple TV+.
Watch the technology in action here:
nVenue said it will bring its historical sports data layered with live data inputs from the field to quickly and accurately generate probabilities of outcomes for each play of a football game.
To advance and showcase nVenue's technology capabilities, the company has brought on former ESPN Fantasy Football expert and NBC Sports analyst Matthew Berry to its advisory team.
“I have always believed in the value that nVenue’s technology brings to the table for fans,” Berry said. “I’ve made a career out of giving advice, and I look forward to sharing the many learnings of my career in sports with the team. I believe micro-betting will be the next big way for fans to engage with sports, and nVenue’s technology expertise is taking this to the next level.”
Over 70,000 football markets will be available for operators and data providers each week during the regular season of NFL, nVenue officials said in a press release.
Here is a look at what the NFL dashboard looks like:
"Matthew has been tremendously helpful in his advisory role for nVenue,” said Kelly Pracht, CEO & Founder of nVenue. “He has encouraged us to be creative with our markets and think intentionally about the future of micros for football. We look forward to collaborating with him to showcase millions of NFL micro-bets to fans each year.”
nVenue added it is "actively discussing opportunities to enhance additional sports broadcasts with its predictive data."
In March, nVenue announced it had secured a $3.5 million investment for the technology, and Pracht told the Dallas Morning News at the time of the announcement the funding would allow them to expand into other sports, including the NBA and NHL.
In September, nVenue secured $1 million worth of investing from EBCI Holdings for its gaming technology incubator fund.
Sports betting is not yet legal in Texas, but it has been made legal in dozens of states in recent years. Thirty-three states in America have legalized sports betting and another seven have filed legislation for sports betting, WFAA sister station KCEN reported in February. There was a push to legalize sports betting in Texas back in 2021 with HB 1121, but failed to pass in the 87th Legislative Session.
The next scheduled legislative session would be in 2023 since Texas lawmakers meet biennially. If sports gambling was to pass through the 2023 legislative session, it would then be placed on voter's ballots months later.
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