Canada
Interview: Juice Reel’s CEO on how its bet tracking tool and Crowdsourced Insights is elevating the experience for data-driven bettors
Juice Reel is on a mission to become the ultimate ecosystem for the modern sports bettor. With its mobile app synced to 250+ sportsbooks, the data it collects is unprecedented and has become a must-have tool for bettors looking to make better wagering decisions.
For sportsbooks, Juice Reel is now an effective acquisition and retention engine. Not only does the app drive users to place bets with regulated operators, the company’s new subscription-based Crowdsourced Insights is delivering valuable insight that data-driven bettors crave.
Gaming Americas spoke to Ricky Gold, CEO of Juice Reel, to learn more about the company’s model, how its range of features work, and what the future holds for sports betting in the US.
For those new to Juice Reel, can you explain how your bet tracking and analytics tool works exactly and the reasoning behind developing such a product?
The Juice Reel app allows sports bettors to automatically link in any betting platform or website within seconds, instantaneously uploading their open and historic bets to the platform. Juice Reel offers useful analytics to our users and while this data-syncing automation is convenient for them, we want to support the wider betting industry as well and provide value to sportsbooks. The data we are accruing is not bounded by any market or operator, so essentially, we are establishing a complete understanding of bettors that use the Juice Reel app. This allows us to leverage this understanding and user-data in order to support sportsbooks in the most efficient way, allowing them to maximize player retention and acquisition.
How is the tool unique compared to other solutions available within the market?
From the bettor’s perspective, no tool on the market is really comparable when it comes to bet tracking and analytics. It all starts with a sportsbook-agnostic automation, our platform is allowing users to connect with over 250+ sportsbooks, effectively ending the era where users had to manually type bets one by one or keep spreadsheets. Once we leverage and repackage the data synced onto our app, we are able to create useful and actionable insights for users that cannot be found outside of Juice Reel. Furthermore, we are working on evolving Juice Reel so that it can be more than just a tool used for tracking and insights, instead becoming a centralized bet-placing platform. Our insights help users decide what to bet on, but then the question arises “with which sportsbook do I place the bet with”. We want to help our users find the best sportsbook to place their bet on, one that perfectly matches each user according to the data and insights we collect.
This key feature is how Juice Reel helps sportsbooks, and more than just bringing operators a new bettor that hasn’t signed up with them yet, Juice Reel will expand the lifetime value that a player is worth to a sportsbook. This is done by our platform initiating bets – our insights, particularly real-time live betting insights, will prompt a user to place a bet that they may have not placed if they were betting without the help of Juice Reel. When our insights are producing a bet that wouldn’t have been initiated without our platform, this effectively grows the total addressable market withing the sports betting industry. Ultimately, if through our features a user bets more than they would’ve, then this expands the industry as a whole.
For bettors, how easy is it to register their bets into the app? Can they seamlessly place bets through the app too?
Connecting your sportsbook into Juice Reel takes about one minute. It’s incredibly simple, straightforward, and most importantly, you only have to connect the sportsbook once. This allows the user to continue where they left off the day before, ensuring they experience a seamless long-term betting environment.
Users today can’t place bets directly though our app, but we are looking to expand on this by implementing a feature which could speed up this process. In the near future, if a user clicks a bet/insight it will automatically pop open the respective sportsbook app and pre-load the exact bet you were looking at. This is yet another example of how we help sportsbooks, by bringing them more betting volume.
Just how important is the tracking tool from a responsible gambling perspective? Does the tool only work alongside regulated sportsbooks in legalized markets?
Reducing unregulated gambling and promoting responsible play is at the core of Juice Reel’s ethos, this is reflected not only in our features, but also in our business model. Juice Reel users can upload betting data from both regulated and unregulated platforms. While Juice Reel has no deals with any unregulated platform, we aggregate data from as many sources as possible in an effort to drive users to sign up and place bets solely with regulated operators. Juice Reel never promotes or facilitates illegal gambling, and our business model is designed in a way to capitalize off the ability of directing users and their bets to regulated platforms.
Providing users with a seamless and automated bet tracker gives users a comprehensive understanding of their betting habits and their profit/loss across all the platforms. Empowering users with this information is at the core of what it means to gamble responsibly, we’re allowing sports bettors to clearly see and analyze their spending habits, as well as pointing out unsuccessful betting patterns.
Tell us more about Crowdsourced Insights? How does the subscription service work?
An entire industry exists around “following the smart money” and data-driven bettors are always looking to figure out what team the “sharps” are betting on, such as professional bettors or those with long track records of success. There is a massive flaw in how bettors are deducing where the sharp or smart money is – they automatically assume that if there’s a lot of money and a lack of people betting on one particular side of a game, this must be where the easy money is. It’s important to note that big bettors don’t necessarily mean smart bettors, historical performance is the only barometer to determine a bettor’s overall performance.
Due to the fact that users sync in all of their betting data, Juice Reel can clearly identify which players are historically profitable bettors and which are failing to bet successfully. By using the betting data each user has synced in, Juice Reel is able to analyze and package the data into actionable insights. One example unique to Juice Reel is that for a given game, Juice Reel can show subscribers what side of a game the top 10% historical performers are on and what side the bottom 10% performers are on. So, in a case where historical winners and losers are betting different sides of a game, subscribers can tail profitable bettors.
Finally, in what ways do you envisage the tool to evolve over the coming months and years? Will you add any new features to the ecosystem?
With the industry mindset slowly evolving from an ‘acquire bettors at all costs’ mentality to one where there’s a focus on customer retention and betting volume, Juice Reel is at the forefront of that industry shift and primed to be a major beneficiary of this future macroeconomic change. Juice Reel is evolving from being a bet tracking tool to being an actionable betting platform. Without revealing too much, all of our future features will be designed to reward users and create value for bettors, while also driving players and betting handle to regulated sportsbooks.
We want to bring an Expedia-meets-Robinhood-like experience for both pre-game and in-play betting. We want users to use Juice Reel so they can be informed and supported in regard to everything related to sports betting. We want them to use the app in order to decide what to bet and with whom to place the bet with. Whilst also following their bets through a game and placing live bets using our Live Value feature. By recycling the betting data into insights, we can reward users for contributing their betting activity to the community, thus creating a sports-betting ecosystem that sees everyone playing in a sustainable, supportive, mutually beneficial and safe environment.
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