Incremental Wager Module for Live Betting Speed
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Solution Overview
Problem
Play by play wagering platforms face challenges in allowing users to quickly adjust their wagers due to the short wagering window, which is exacerbated by the rapid pace of sporting events and varying time constraints across different sports.
Innovation Solution
The implementation of an incremental wager method that allows users to increase their wagers incrementally based on their recent wagering history and the current context of the live event, using a system that includes a base wagering module and a wager increase module to propose and manage wager increments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Speed
If the wagering window is shortened to match the rapid pace of sporting events, then the platform can keep up with the speed of play, but users have less time to place and adjust their wagers
Solution Approach 1:
The system pre-calculates and presents incremental wager amounts based on the user's previous wager, eliminating the need for users to manually recalculate bet amounts. The interface automatically adjusts wager inputs based on historical data, allowing users to quickly confirm or modify wagers without time-consuming calculations.
Solution Approach 2:
The wagering system automatically adjusts and presents wager amounts based on the user's own historical wagering patterns. The system serves itself by using the user's previous bets to generate suggested incremental amounts, reducing the cognitive load and time required for decision-making during fast-paced events.
2Ease of operation
If users are given more time to place wagers, then they can make more informed decisions, but the platform loses money due to reduced wager quantity and amount
Solution Approach 1:
The system continuously monitors and uses the user's historical wagering data to dynamically adjust and present suggested wager amounts. This feedback loop allows the system to learn from user behavior patterns and present optimized wager suggestions that balance user decision-making needs with the platform's interest in maximizing wager volume and value.
Solution Approach 2:
The system changes the parameter of suggested wager amounts based on the user's historical data and current event context. By dynamically adjusting the wager parameter suggestions, the system optimizes both user experience and platform revenue, presenting amounts that are both informative and financially beneficial.
3Productivity
If the platform takes a percentage cut of all wagers, then operator profit is maximized when users place maximum wagers, but users are discouraged from adjusting wagers frequently
Solution Approach 1:
The system dynamically adjusts the presented wager amounts based on real-time conditions including the user's historical data and current event state. This dynamic adaptation allows users to flexibly adjust wagers within the short time window while the system optimizes the presented amounts to maintain high wager volume, balancing user flexibility with platform profit interests.
Data Source
AI summary
A method of encouraging a user to increase their wager on a play by play wagering platform by determining the likelihood the user will increase their wager based upon their wager history and proposing an increase amount based upon their likelihood of increasing their wager such that a higher likelihood of increase results in a higher proposed increase amount and a lower likelihood results in a lower proposed increase amount.