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This MiOffer innovation, which has been patent protected since 2012, will serve as a key differential for all stakeholders; combining elements of traditional sportsbook management with sophisticated exchange wagering. It can be complementary and independent of your existing sportsbooks and you can manage inhouse or outsource to our experts.
It is a risk free proposition, enabling market transparency, greater confidence on the part of player and layer and higher sustainable revenues for the benefit of the entire ecosystem.
Initially the MiOffer proposition will cater for the straight pre-game bets on the schedule of games offered. This will include wagers on sides, totals, money lines and first half.
As well as traditional team sports the proposition can be tailored to include one-on-one matches – such as prize fights, tennis matches, player vs. player golf matchups, eSports contests etc.
After downloading the pre-approved app, the user can log onto your system and view the day’s offerings, just like current mobile apps. But unlike traditional sportsbook “wagers”, the user makes an “offer”. The user can proactively change the current value of the numbers including the given spread, total or money line and can reduce the “juice” in any way they prefer.
Upon completion, this “offer” is posted to your management’s administrative network.
Maybe, but unlike unauthorised models, users of the app can only POST an “offer”, they cannot ACCEPT “offers”.
In line with the US Patent and existing regulations, only legal, licensed sportsbooks (and their authorised personnel) can then “match offers”, which have to coincide in all aspects. This assures that the sportsbook management has LAID THE BET and has a risk -free proposition.
The MiOFFER back office has all the tools and algorithms necessary to “Suggest” the best matches to achieve the most profit on either side of the Wager.
For the sportsbook, the MiOffer software has fail safe procedures where an administrator cannot create a submission that results in a risk.
At game time, unmatched offers can be placed into the conventional sportsbook at the book price or refunded and added back to a user’s account.
When each game ends, the operator can settle the bets manually or via a feed.
The winner of the bet will have the full funds deposited into their account. The operator will receive the “juice” “vig” from the losing side.
If the game is a push/draw, stakes are refunded to both patrons.
A $100 offer matched to a $50 offer would be recognized by the software, which would automatically send a message to your administrator’s desktop that the proposed submission needs attention. Ensuring that you and the ecosystem are constantly in communication.
Enable your authorised sportsbook managers and on-site operatives to better engage, personalise your offerings and differentiate your facilities.
Miomni has developed the mobile MiOFFER applications for both iOS and Android platforms.
iOS applications are available in the iTunes Store. Android applications will be available for patrons to manually download and install due to Google rules on gaming applications.
All the tools an operator needs to manage the system in real time utilizing the same carrier class light weight architecture of the MiOMNI sports betting platform.
Risk Free Patent protected Legal US exchange wagering platform
Miomni’s geo-location controls approved by the Nevada Gaming Commission and GLI restrict wagering to individuals within the relevant boundaries.