Genius Sports sees live betting as a key path to boost growth in the US. Mark Locke, the CEO, believes this opportunity is much bigger than many investors understand.
Genius Sports Views U.S. In-Game Betting Shortfall as a Big Growth Opportunity
While talking at the Goldman Sachs Communicopia + Technology Conference in New York, Locke explained how in-play betting makes up 60% to 80% of wagers in the UK. In the US, however, this figure lags behind at 30% to 35%. Locke pointed to this difference as a long-term chance to advance the market, offering better profit margins and stronger user involvement than regular pregame betting options.
Locke emphasized that live betting data holds greater value than pre-match details. Genius charges operators three times as much to provide this data. He pointed out that this pricing advantage leads to a ripple effect. Sportsbooks generate higher revenue from in-game markets, while Genius gains from the growing need to offer premium data.
BetVision sits at the heart of this approach. It is Genius’s streaming platform that combines live sports broadcasts with betting tools. Locke explained that around one-third of bets are made during games in the US overall. On BetVision, however, that figure jumps to 72% more than twice as much. He said this highlights how merging watching and betting into one platform opens doors to more growth.
A recent partnership with Hard Rock Bet highlights the company’s strategy in action. This agreement allows Hard Rock to connect with over 30,000 live events through BetVision. Users can stream games, bet on them, and interact with ads all from one platform. Locke called the offering a “full user experience,” designed to keep fans hooked for the duration of an event.
Media Deals and Dragon Tech Point to a Bigger Vision for Genius Sports
Outside of betting, Genius is expanding into media and ads. Its FanHub division is working with big names like Coca-Cola and Gatorade. They use live sports data to create targeted campaigns during times when fans are most involved. This area of the business has boosted the company’s financial outlook. It shows Genius wants to grow beyond just betting content.
Locke highlighted progress in data collection. He mentioned “Dragon,” a setup that links iPhones to automate tracking during live games. By cutting down on the need for many statisticians, Genius aims to cut costs and give leagues tools like semi-automated offside detection and performance data.
Genius put $82 million of its free cash flow back into the business last year and keeps looking into selective acquisitions. The company has secured long-term partnerships, like the extended NFL deal that now lasts until 2030. It thinks this positions it to take advantage of the growing move toward live interactive betting experiences.