“Key Product Trends in the US”: Interview with Altenar’s Product Director

Giannis Papakonstantinou, Director of sportsbook Product at Altenar, discusses the key trends shaping US sportsbooks, from player props and same-game parlays to personalised content and gamification. Interview.- The US sportsbook market has evolved well beyond the core spreads, totals and parlays that once defined the local betting experience. As player expectations continue to change, features such as player props, same-game parlays, micro-betting, personalised content and social functionality are becoming increasingly important to sportsbook product strategies. In this interview, Giannis Papakonstantinou, director of sportsbook product at Altenar, looks at the key trends shaping sportsbook development in the US, from the growing focus on individual athletes to the rise of personalised and more interactive betting experiences. He also explains how product priorities in the US differ from other regulated markets and what sportsbooks need to consider when adapting their offering to American bettors. What does the US market expect from a modern sportsbook product today? Let’s take a step back and define what constituted a successful sports betting platform a few years ago. Offering the core betting markets for US sports, such as spreads and totals, and presenting them in the way bettors in the US expected, including in the 6-pack view, was probably sufficient. Some more advanced platforms also offered functionalities such as parlays and teasers. Parlays were the ancestors of today’s same-game parlays. Now, moving a few years forward, the situation is very different. Some of the most important additions have been Player Special markets and same-game parlay functionality. Player Special markets are now as important as core markets, if not more so, and bettors expect to be able to combine them with the core sportsbook markets. We can also add micro-betting markets, which allow players to place live bets on what happens next during a game, such as next-play markets. “Parlays are like the ancestors of today’s same-game parlays.” Giannis Papakonstantinou, director of sportsbook product at Altenar. When building a sportsbook for US bettors, what product priorities differ most from other regulated markets? There are three main differences. First of all, there is the local content. US bettors focus on specific competitions such as the NBA, NHL, MLB and NFL, as well as local college leagues and markets. The second difference is how the content is presented. Compared with a traditional European sportsbook, where content is often presented as a long list of events, US sportsbooks focus on highlighting what customers care about most. US sports and Player Special markets are given a very prominent position, making it easier for bettors to find the markets they are most interested in. The third difference is betting patterns. There is a clear distinction between the betting patterns of European and US bettors. European bettors tend to focus on winner markets, 1X2 markets and accumulator bets, while US bettors place much more emphasis on same-game parlays and player-based betting, particularly combining Player Special markets. Player props continue to attract significant attention. Why do you think this betting format resonates so strongly with American audiences? So, player special markets are already super popular in the US market. The dynamic is growing in other jurisdictions too. I really believe that this is a cultural thing. The young generation doesn’t have strong connections with clubs and teams. They connect though with specific individuals such as athletes. They are supporters of those individuals rather than teams and that is being reflected also in their betting patterns. This is why players’ special markets are so popular. This is why players’ special markets are so popular. “The young generation doesn’t have strong connections with clubs and teams. They connect though with specific individuals such as athletes.” Giannis Papakonstantinou, director of sportsbook product at Altenar. Beyond player props, what other betting trends or engagement mechanics do you see becoming increasingly important in the US market? So, besides Player Props and the functionalities we have already mentioned, such as same-game parlays, a few other things are becoming increasingly popular. One of them, and probably the most important, is personalised content based on user betting patterns. This allows sportsbooks to replicate the “recommended for you” approach that users are already familiar with from other platforms, such as Netflix. Then there is the social community aspect, which allows players to chat within the platform, copy bets from friends or follow influencers. And lastly, there is gamification and loyalty programmes, which can be more engaging and support player acquisition and retention compared with the old approach of simply offering a cashback bonus.