Genius Sports Unveils Ground-Breaking Automated Pricing Tool ‘Edge’
Sports technology company Genius Sports has launched a new automated pricing tool called ‘Edge’, which it claims is the first of its kind in the market. The tool is designed to help sportsbooks maximize profits across a wide range of sports events and bets, factoring in real-time liability to recalculate odds at a fixture and market-type level for maximum profitability.
According to the company’s product director Thomas Holland, early adopter partners of Edge have experienced an average increase of 18% in margins. The tool is available through Genius Trading Services or as a standalone solution and aims to help sportsbooks optimize pricing and increase profitability across the board.
Holland explained, “The explosion of betting content means sportsbooks offer hundreds of thousands of events every year. This makes it almost impossible for trading teams to truly optimize pricing and ensure they are squeezing maximum margin out of every bet, especially where turnover is highest. We’re excited to roll this ground-breaking solution out across our sportsbook partners worldwide, adding incremental profits across the board.”
The launch of Edge follows the September release of BetVision, a new sports betting solution that allows players to place bets from within live video on sportsbook apps. BetVision was incorporated into FanDuel’s app in November to enhance its NFL offering.
Edge aims to solve a real problem by providing an improved pricing tool over current risk management solutions, which often limit players and minimize losses. According to Holland, this approach leaves money on the table for operators and creates a frustrating experience for bettors.
The tool aims to empower sportsbooks to compile a set of odds unique to their sportsbook and driven by how their customers are betting. It also adjusts odds instantaneously to maximize profits as soon as any liabilities build up on specific market outcomes. This, in turn, will make in-play betting more profitable for operators in the long run.
In conclusion, Genius Sports’ new Edge tool is set to revolutionize the sports betting industry by providing a first-of-its-kind automated pricing solution that can significantly increase profits for sportsbooks across the globe.