PBR to enter legal betting market as Team Series heads into Cheyenne, Wyoming
Endeavor’s OpenBet to provide official odds and pricing for professional bull riding.
PUEBLO, Colo. – Bull riding is one of the world’s most compelling sports to watch – a winner and a loser emerging after eight second bursts of excitement all night long.
The compelling cowboy versus bovine matchups playing out on the dirt can be analysed to show statistical tendencies.
At the same time, the bull rider is the passenger; ultimately the animal athlete is in charge, bringing an undercurrent of unpredictability.
That fascinating combination seems to make pro bull riding a sports better’s dream.
Yet, PBR has not been a player of significance in the booming sports gambling market.
Oddsmakers have never been able to get their arms around complete, correct ride data. Most don’t understand the sport.
That problem has now been fixed as PBR works with industry leaders OpenBet and ALT Sports Data.
In a deal announced today, OpenBet, a leading sports betting entertainment provider and subsidiary of Endeavor, will provide official pricing and odds on PBR events for the first time, allowing the sport to pursue legal and official betting starting with next week’s 2023 PBR Team Series when the bull riding league opens its second 11-event season July 24-25 in Cheyenne, Wyoming.
OpenBet, which has more than 75 global customers, will use its unrivalled pricing, trading and data services to price, create and distribute odds for PBR events, initially focused on PBR Teams, the elite Unleash The Beast and its marquee World Finals.
OpenBet has also partnered with ALT Sports Data, a provider of various sports betting services to the alternative sports industry, to provide affiliate marketing services for PBR, referring players to regulated sports books.
“We are delighted to work with one of Endeavor’s most exciting sports properties and deliver official pricing and odds for PBR fans, players and sportsbooks for the first time,” said Don Jaques, Vice President of Strategy at OpenBet. “By building official algorithm and data-driven pricing and markets, we will enhance the PBR betting experience, and help drive reach and fan engagement.”
PBR betting is already approved in 11 states – a readymade untapped betting market for a sport with nonstop excitement, drama and those unpredictable bulls.
“Research shows PBR fans are 89% more likely to bet on sports than the general public,” said Josh Baker, Chief Revenue Officer, PBR. “Until now, those setting the odds for PBR have lacked the complete data and necessary understanding of the sport of Professional Bull Riding. OpenBet and ALT Sports Data solve that challenge, allowing PBR to enter an extremely viable market.”
Consider the Nashville Stampede’s 2022 Teams championship, after entering the playoffs in last place, only to go on a Cinderella run beating the top three seeds to take the first team title.
During the regular season, to the Nashville faithful, it felt like when the Stampede successfully rode two bulls, the other team would ride three.
There were a lot of close nail-biting losses; in Missouri, the team lost three games by a combined 10.5 points.
Statistical analysis shows that the Stampede’s opponents scored the highest in games against Nashville.
Therefore, the team’s 7-20-1 record was actually a poor indicator of its riding performance.
PBR’s new partners will be looking at this kind of data in setting team odds for the 2023 PBR Teams Championship in Las Vegas October 20-22.
That run to Vegas begins Monday, along with a continued charge into the mainstream, as PBR hopes to continue the best start in its 30-year history, hosting more than 775,000 fans across its top two U.S. tours January – May, including 30 sold-out events.
Off the dirt, the sport is expanding with its 13th PBR Cowboy Bar that opened in Miami, the launch of its new Western sport and lifestyle magazine Gold Buckle and critical acclaim for “The Ride,” a breakout docuseries on Prime Video.
PBR is a sport on fire. The smart bet is the second PBR Teams season is going to bring a lot of excitement.
Photo courtesy of Josh Homer/Bull Stock Media