Novusbet in ICE’24: Understanding KPIs and Data Analysis in real-time Sportsbook systems

We're excited to delve into key facts about Sportsbook system performance analysis to help you, and we're thrilled to announce that we'll be bringing all these insights to ICE London 2024, taking place on 6-8 February at ExCeL London. Make sure to come and visit us!

To be successful, operators need to know the basics of how to properly track Sportsbook metrics. This can be a tricky task, but we at Novusbet are here to simplify it for you. Let’s talk about Key Performance Indicators (KPIs) and data analysis – the bread and butter of any thriving Sportsbook operation - and break them down in a simple, straightforward manner.

What are KPIs and what should you focus on the most?

KPIs are like a scoreboard for your business, showing you how well you're playing the game. In a Sportsbook context, they help us understand how the platform is performing, how engaged our users are, and how profitable the business is. Here's a look at some essential KPIs you need to take into account:

Betting dynamics: Betting volume and the average bet size together paint a clear picture of user activity and betting behaviour. They're crucial for levelling engagement and risk preferences.
Financial health: Gross gaming revenue (GGR) acts as a financial health check, showing the profit from bets. This, along with the Win/Loss ratio, helps assess overall profitability and customer satisfaction.
User focus: The user retention rate and customer satisfaction give insights into how well the platform retains and pleases its users, essential for long-term success.
Odds: Accuracy of odds is a key factor in building trust, reflecting the platform's effectiveness in risk management and outcome prediction.

Which data analysis are most important for implementing strategies?

Real-time insights: Analysing betting trends as they happen, adjusting odds and offers accordingly.
Risk and player management: Understanding player behaviour for personalisation, while keeping an eye on risks like fraud.
Market and device analysis: Comparing with competitors and optimising for different devices (mobile vs. desktop).

At Novusbet, our Sportsbook takes into account KPIs and data analysis to streamline management processes for operators, making tasks simpler and more efficient. For further information, don’t hesitate to contact us or visit our Stand S2-330 at ICE London 2024! You can book a meeting in advance here.