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Suddenly everyone is talking about micro-betting following news last week that YouTube influencer Jake Paul was getting into the sports betting business with a focus on these tiny bets especially suited for the stop-and-start nature of certain sports, baseball included.
Micro-betting is described as the "TikTok-ification of sports betting" whereby individuals can place the tiniest of wagers on such things in real time as pitches & at-bats of baseball games and plays & drives of football games.
Speaking to iGaming NEXT, venture capitalist and managing partner of Sharp Alpha Advisors Lloyd Danzig said: “Soccer is a low-scoring game with a continuous clock, minimal stoppages, and far fewer discrete events as compared to the most popular US sports. Basketball, baseball, and American football appear to be especially well-suited for micro-betting.”
Daniel Graetzer, CEO of MaximBet, agreed, stating: “It works for [American] football. Is the next play going to be a run or a pass, for example. And basketball – is the next basket going to be a two-pointer or a three-pointer – so sports with more action or plays create more betting opportunities overall.”
Micro-betting is far from a new concept, and it's not just sports gambling.
This week, our colleagues at CoinGeek featured Tyler Farnsworth - Chief Marketing Officer - Built By Gamers in their most recent Hashing It Out episode.
At the Global Blockchain Convention Dubai in May, Farnsworth appeared as part of the “Small Payments, Big Fun: Micropayments for Casual Games” panel.
Micropayments, a key feature of the BSV Blockchain, are set to disrupt the current revenue models in the gaming space, an area within gaming that is in dire need of a rehaul.
“There’s this tug and pull to how can we balance a great revenue model for the publisher so they are motivated to keep building and having a good user experience for the player,” Farnsworth explained.
“This is where micropayments offer a new way that previous to this, you really couldn’t get this small. And so you can have all kinds of different transactions for fractions of a cent,” he said.
“It allows for these publishers at scale to make a whole lot of revenue. So [the gamer is] choosing it, you don’t have to go and watch this ad or be interrupted, every time you make any sort of payment. You’re making that choice. And it’s so small that it’s not even causing an issue,” Farnsworth added.
Hashing it Out: Tyler Farnsworth - Chief Marketing Officer - @builtbygamers @bsvbulldoggy @CalvinAyre https://t.co/C999J1ajIh pic.twitter.com/YqJjOC1Zfb
— gambling911 (@gambling911) August 15, 2022
- Aaron Goldstein, Gambling911.com
