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NBA Confirms Equity Stake In Micro-Betting Provider nVenue

nVenue, a premiere predictive analytics and sports-betting technology platform, is thrilled to announce the launch of a newly updated menu of micro-betting markets for the 2023-24 NBA seasons and beyond. The updated betting markets will be available to basketball fans via their preferred sportsbooks.

Following their participation in the NBA Launchpad program, NBA Equity has also taken an equity stake in nVenue, reinforcing the league’s commitment to innovation and offering fans new, exciting, responsible gaming opportunities. Additionally, Scott Kaufman-Ross, Head of Gaming and New Business Ventures of the NBA, has joined as a board observer for nVenue.

“Micro-betting presents an opportunity to drive incremental fan engagement within the live game,” said Kaufman-Ross. “As a fast-paced sport with constant action, the NBA requires a unique approach to providing opportunities that are both contextual and personalized to how our fans are consuming the game. We are excited to roll up our sleeves with a company like nVenue, with its innovative tech and a great team, to explore this opportunity.”

“Currently available markets and betting offerings leave a gap in in-play options that are well-suited for the NBA’s pace of game,” nVenue CEO Kelly Pracht added. “We are honored that the league selected nVenue to collaborate, design, and deliver a new approach to micro-betting for the NBA fan.”

In addition to their existing NBA product, nVenue plans to deliver a refreshed take on micro-betting markets prepped for betting operators both domestically and internationally. Below is a preview of available markets this season:

➔     RACE: TEAM TO NEXT 15 POINTS

◆      This micro-bet is built on the concept of basketball’s “game of runs.” The first race begins at the game’s outset and concludes when one of the competing teams reaches the 15-point mark. During the segment, odds update with each score, possession change, and break in play, allowing bettors to jump in and bet at any point. On completion of a race, this alternate scoreboard resets to 0-0, and the next opportunity to bet on the next begins. Bettors and fans stay engaged despite the overall score. 

◆      Note: nVenue and the NBA first debuted this market during the 2023 NBA Finals as part of an interactive experience delivered to international fans on the League Pass mobile app. The free-to-play test garnered over 280,000 “bets” and a boost in on-screen engagement, leading to a 60% longer viewing time than passive viewers.

➔     4:00 SCOREBOARD: WINNER (TEAM)

◆      For those who love fast-paced action, the “4:00 Scoreboard” market offers the chance to predict which team will have the most points in a 4-minute game segment. Bet on points, the winner, spreads, and over/unders allow users to focus on short bursts of play.

➔     RACE: PLAYER TO NEXT 7 POINTS

◆      In this latest market innovation, bettors predict which player will score the next 7 points. The “Race” starts at the beginning of the game and concludes when a player reaches 7 points. After a player gets 7 points, a new race starts over at 0-0, ensuring a continuous and dynamic betting experience.

➔     FREE THROW: RESULT (AS EACH OCCURS REGARDLESS OF HOW MANY SHOT)

➔     FREE THROW: TRIP TO LINE RESULT (2 SHOTS)

➔     FREE THROW: TRIP TO LINE RESULT (3 SHOTS)

Updates to the nVenue micro-bet menu will be revealed throughout the season. The nVenue bet curation engine, also made in conjunction with the NBA, will be available for demo in 2024.

About Jerry Milani

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Jerry Milani is a writer and public relations executive living in Bloomfield, N.J. He has worked in P.R. for more than 30 years in college and conference sports media relations, two agencies and for the International Fight League, a team-based mixed martial arts league, and as a freelance professional. His PR clients have included Wizard World and FAN EXPO, which produce pop culture and celebrity conventions across North America, USA Wrestling, the National Lacrosse League, Strat-O-Matic Media, the Pacific Life Open and Pilot Pen Tennis tournaments and dozens of others. Milani is also the director of athletic communications for Caldwell University. He is a proud graduate of North Rockland High School and Fordham University and when not attending a Yankees, Rams or Cougars game can be reached at Jerry (at) JerryMilani (dot) com.

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