Q&A: BetVictor on harnessing real-time horseracing data

Last month BetVictor announced the launch of Smart Cards – a product it claims could revitalise a “static” horseracing vertical.

The new live stats technology gives customers access to a continuous stream of live racing updates in real-time to help punters make better informed betting decisions.

Developed in collaboration with data partner Timeform, Smart Cards aims to improve the traditional racecard experience by updating the static information provided 24 hours prior to each racing day.

The launch forms part of BetVictor’s new creative campaign, ‘See The Bigger Picture’ and follows the announcement of a trio of horseracing brand ambassadors, Rachael Blackmore, Nicola Currie and Jamie Snowden.

Here Eoin Ryan, director of product at BetVictor, explains why harnessing real-time data is so important for the horseracing sector.

EGR Technology: How was the Smart Cards product developed?

Eoin Ryan (ER): Our brand has a strong heritage in horseracing and many of our team members are horseracing enthusiasts who understand the sport, which is valuable to our business and the work we do.

One area of the horseracing betting experience that we felt was underdeveloped was the area of real-time, up-to-the minute statistics within the racecard. The reason for that lack of data is typically because the suppliers of that content do not provide regular updates, other than jockey and ground changes.

As a result, in collaboration with Timeform [horseracing data providers], we developed the Smart Cards product. We have worked very closely with Timeform for several years now and have a great relationship with the team. This allows us to suggest and exchange innovative ideas around how horseracing data can be best visualised for consumers. Our combined efforts are evident in the Smart Cards product we’ve built.

EGR Technology: How did the collaboration with Timeform come about?

ER: In our regular discussions with Timeform, we shared our thoughts with them around the lack of a ‘’real-time’’ feeling when it came to online racecards.

From there, Timeform introduced us to a smart statistics product they had built. It was an innovative and informative product which got us really excited. With our creative thinking hats on, our teams worked together to develop it further and discussed the best way to present this data within our product.

We completely redesigned our racecards to put these smart stats at the heart of it all, and that is how Smart Cards emerged. We believe we have raised the bar across the industry with this product.

EGR Technology: Why is it crucial for the industry?

ER: There is a huge amount of data being produced around horseracing, but we believe this isn’t reaching end users as effectively as it could or should. The modern-day horseracing punter is increasingly using statistics as a method of making better-informed betting decisions, however, the traditional horse race betting experience relies on information that is largely static.

With Smart Cards, we are looking to move the dial on this and turn horse race betting into a more dynamic and engaging experience for punters, with real-time pointers and advice based on the actual prevailing conditions on the day or collateral information.

EGR Technology: How will it impact horseracing?

ER: To appeal to a wider demographic, we need to be working on the presentation of data at the point of transaction. There are so many races being run every day across the UK and Ireland that keeping on top of the formbook can feel like an impossible task, even to dedicated horseracing enthusiasts. And our Smart Cards does a brilliant job of highlighting the most interesting data in any given UK and Ireland race. It also brings a live and dynamic feeling to something that previously felt quite pedestrian. So, it should make the sport of horseracing more interesting to bet on.

EGR Technology: What is your product development strategy at BetVictor?

ER: A key strategic focus for our business is to become an industry leader in technology innovation, and we do this by developing products in-house on our proprietary sportsbook platform. The ability to have full control of our own tech platform is a huge benefit in this industry, as it allows us to respond to customer demands and industry trends quickly.

EGR Technology: What makes your mobile apps stand out from the competition?

ER: Many of our competitors rely on web applications or hybrid solutions, while we have developed fully native iOS and Android applications. This gives us a major edge in terms of functionality and speed. The app store ratings we receive are a testament to our strategy and teams in this area.

EGR Technology: How are you making use of data in terms of personalisation or for responsible gambling measures?

ER: Customer protection is at the heart of our business and because of our proprietary technology we’re able to apply the same innovation to our compliance products as we do to our betting products. Having full control over our customers’ data means we can really analyse betting behaviour and apply machine-learning technology to foresee customers who are more likely to experience gambling-related harms based on their individual activity.

These solutions, and the algorithms powering them, are constantly being improved due to a continually evolving regulatory environment and behavioural changes in the way customers utilise our product and interact with our brand. The data is definitely key to this, however, there are a lot of additional inputs required to make the solution successful, including social psychology and neuroscientific research and knowledge.

Technology is not a ‘silver bullet’, which is why we have a robust interaction framework delivered by our safer gambling team who offer 24/7 support to our customers to ensure they’re in control of their gambling.