TXODDS Revolutionizes the Sports Betting Sector With One of the Fastest Live Odds API Feeds on the Market
04/23/2024, London, UK // PRODIGY: Feature Story //
The popularity of the online sports betting market continues to rise, with the market estimated to be worth $45.94 billion in 2024. Over the next five years, it’s expected to grow at an average of 7.4% each year, resulting in a projected market volume of $65.68 billion by 2029. The market is only going to become even more competitive in the coming years, so bookmakers, popularly known as “bookies” need to be able to offer the best services, and one of the most important qualities they need to have is speed.
TXODDS is a pioneer in ultra-low latency odds delivery for sports betting, allowing bookmakers to have access to data and betting events as quickly as possible, reflecting any changes and results much faster than live streaming and broadcasts, which are usually 20 to 30 seconds delayed due to technological limitations of digital streaming of audio and video. Speed is extremely important, as statistics show that 90% of sports betting is done during the match.
Founded in 2000, TXODDS developed the Fusion platform, which delivers all data updates in real-time, through a high-performance live sports odds feed. Its unrivaled low latency creates an environment for the most efficient and profitable trading. All processing occurs within the Fusion delivery platform in real-time, eliminating end-to-end latency issues. Additionally, Fusion’s infrastructure and multiple redundant hosting ensures instant updates in a unified format. This enables faster and more consistent delivery, to TXODDS’ clients who are based all over the world. Fusion reflects all pre-game and in-play odds changes in real-time, across a wide range of sports, competitions, and fixtures.
Operating via an application program interface (API), Fusion can be rapidly integrated into any bookmaker’s own platforms. Once this is done, the bookmaker will be synchronized to the global betting market 24/7. The bookmaker has full control over which data from the feed to use and display, and they have the ability to customize their subscriptions and manage the data as they see fit.
Fusion’s Stableprice allows bookmakers to gain a consensus of the market using both de-marginated and marginated average market prices using a customizable blend of bookmaker’s prices for core markets. This gives them full control of where they want to position their offering within the market. Furthermore, the Peacock monitoring interface allows intuitive visualization of data, giving an unprecedented view of the market.
According to TXODDS CEO Einar Knobel, the adoption of the Asian handicap style of sports betting, which gives the underdog team a headstart on goals or points, as well as the growing popularity of in-running betting, necessitated the need for a real-time source of data that is automatically reflected in the betting odds. He adds that more avenues for sports betting are opening, with the rise of esports, the legalization of sports betting in more states across the US, and the growing appetite in emerging markets such as Latin America.
“Every year, the sports betting market gets bigger. You would think it’s already saturated, but it’s still growing. As competition continues to increase, speed and accuracy are incredibly important,” says Knobel. “Our vision is to connect the sports betting ecosystem to the most compelling and innovative, ultra-low latency sports odds delivery platform. As the sports betting market continues to grow, especially in the US, we are planning to expand our team further, and we expect to double our headcount to over 200 within a year.”
Media Contact
Name: Einar Knobel
Email: [email protected]