What Is a Niche Market? Definition, Types, and Betting Examples

The Definition of a Niche Market

A niche market is a specialized or focused segment within a broader market, characterized by specific customer needs, preferences, and identifiable characteristics. Unlike mainstream markets that serve large, diverse audiences, niche markets target smaller groups of consumers who share distinct traits—whether demographic, behavioral, geographic, or psychographic.

The term "niche" derives from the architectural concept of a recessed space designed to perfectly fit a specific object. In business and marketing, this metaphor holds: a niche market is precisely designed to fit the unique needs of a particular group. Rather than competing on price or volume in crowded mainstream markets, niche market strategies emphasize specialization, expertise, and deep understanding of customer pain points.

In the context of sports betting, a niche market refers to betting opportunities on specialized sports, leagues, or market types that fall outside mainstream offerings like major football leagues or basketball championships. These include alternative sports, minor leagues, esports, exotic prop markets, and regional competitions that attract fewer bettors but often offer significantly better odds for knowledgeable players.

How Niche Markets Differ from Mainstream Markets

The distinction between niche and mainstream markets extends far beyond size. Understanding these differences is critical for anyone seeking to find value or build a sustainable betting strategy.

The most important distinction for bettors is odds efficiency. In mainstream markets like Premier League football or NFL games, thousands of sharp bettors and syndicates analyze every data point, quickly correcting any mispricings. A niche market like Estonian basketball or Slovenian handball, by contrast, may see only dozens of analytical bettors, leaving inefficiencies that persist longer and reward research-focused players.

The Historical Evolution of Niche Marketing

The concept of niche marketing did not always exist. For much of the 20th century, mass marketing dominated business strategy. Companies like Coca-Cola and Ford pursued "one-size-fits-all" approaches, targeting entire populations with standardized products and messages. The goal was volume: reach as many people as possible.

This began to shift in the 1970s and 1980s as demographic fragmentation, media proliferation, and consumer sophistication increased. Marketers realized that smaller, highly focused segments could be more profitable than broad, shallow markets. The rise of cable television, specialized magazines, and later the internet accelerated this trend dramatically.

In sports betting, niche markets emerged as betting markets globalized. Early sportsbooks focused exclusively on major North American sports (NFL, NBA, MLB, NHL) and European football. As technology improved and online betting platforms proliferated in the 2000s, operators discovered they could profitably offer betting on obscure leagues, alternative sports, and granular prop markets. Today, major sportsbooks offer thousands of betting markets simultaneously, with niche offerings representing a significant portion of their portfolio.

The COVID-19 pandemic accelerated niche market adoption when major sports shut down in 2020. Sportsbooks rapidly expanded offerings on esports, virtual sports, and minor leagues to fill the void, discovering that niche markets could sustain significant volume and profitability.

What Are the Main Types of Niche Markets?

Niche markets are not monolithic. Understanding the different types helps you identify opportunities aligned with your strengths and interests.

Demographic Niches

Demographic niches segment consumers by measurable characteristics: age, gender, income, education level, marital status, or family size. These are the easiest niches to identify and target because demographic data is readily available.

In sports betting, demographic niches might include:

• Young bettors (18–25): Prefer mobile betting, esports, and high-odds parlays
• Experienced bettors (40+): Focus on traditional sports, lower-risk strategies, statistical analysis
• High-income bettors: Interested in high-stakes markets, exclusive betting clubs, personalized advisory services
• Female bettors: Historically underserved but growing segment with distinct preferences

Demographic niches are valuable because they're predictable and scalable. Once you understand a demographic's preferences, you can efficiently market to similar audiences.

Psychographic Niches

Psychographic niches are based on lifestyle, values, attitudes, and personality traits. They're more complex to identify than demographic niches but often create stronger emotional connections and loyalty.

Examples in betting include:

• Risk-averse bettors: Prefer low-odds accumulators, handicapping services, and statistical models
• Thrill-seeking bettors: Chase high-odds parlays, exotic props, and volatile markets
• Data-driven bettors: Demand advanced analytics, model access, and statistical edge information
• Community-focused bettors: Join forums, follow tipsters, engage in betting syndicates
• Casual entertainment bettors: View betting as entertainment, not income; prefer low-stake fun markets

Psychographic niches often command premium pricing because they're based on deeply held values and identities.

Geographic Niches

Geographic niches serve specific regions, countries, or even cities. They're defined by location-based preferences, regulatory environments, and cultural factors.

In betting, geographic niches include:

• Eastern European markets: Strong preference for football (soccer), lower margins, less regulatory oversight
• Asian markets: Dominance of basketball, badminton, table tennis; unique betting culture and preferences
• Latin American markets: Strong soccer tradition, emerging esports presence, mobile-first betting
• Nordic markets: High regulatory standards, preference for responsible gambling tools, esports strength

Geographic niches are increasingly important in betting because regulatory environments vary dramatically by jurisdiction. A betting product optimized for UK regulations may be entirely unsuitable for Malta or Costa Rica.

Behavioral Niches

Behavioral niches are defined by how consumers act, purchase, and use products. They focus on actions rather than static characteristics.

In betting, behavioral niches include:

• Live bettors: Specialize in in-play betting, rapid decision-making, exploiting dynamic odds
• Prop specialists: Focus exclusively on proposition bets (player props, game props, exotic outcomes)
• Parlay players: Build multi-leg accumulators, chase high odds, accept higher variance
• Line shoppers: Compare odds across multiple sportsbooks, exploit discrepancies, optimize expected value
• Hedging strategists: Place offsetting bets to lock in profit or minimize loss, use complex bet structures

Behavioral niches are powerful because they're based on observable actions. A bettor who consistently places live bets on obscure leagues is a behavioral niche member, regardless of age, income, or geography.

Industry-Specific and Technological Niches

These niches serve specific professions, industries, or technology enthusiasts.

In betting, examples include:

• Esports bettors: Specialize in League of Legends, Dota 2, Counter-Strike, and other competitive games
• Crypto-native bettors: Use blockchain-based betting platforms, prefer decentralized sportsbooks, value privacy
• AI and algorithm traders: Use machine learning models, API access, high-frequency betting strategies
• Sports analytics professionals: Leverage advanced metrics, player tracking data, and proprietary models

These niches often command the highest margins because they require specialized infrastructure and deep expertise.

How Do You Identify a Niche Market?

Identifying a viable niche market is both art and science. It requires market research, competitive analysis, and validation of actual demand.

Analyze Consumer Characteristics

Start by defining your potential niche in terms of demographics, psychographics, and behaviors:

1. Create a customer profile: Who are they? What's their age, income, education, location? What are their values, interests, and pain points?
2. Document their needs: What problems do they face that mainstream solutions don't address? What are they currently doing to solve those problems?
3. Identify their preferences: How do they prefer to communicate, learn, and purchase? What media do they consume?
4. Assess their size: Is the niche large enough to be profitable? A niche with only 100 potential customers worldwide may be too small.

For betting niches, this might look like: "Bettors aged 25–40 with mathematical backgrounds who specialize in statistical arbitrage on obscure Asian basketball leagues and have monthly betting volumes of $5,000+."

Conduct Competitive Analysis

Examine who currently serves (or doesn't serve) your identified niche:

1. Who are the current competitors? What sportsbooks, betting services, or information providers target this niche?
2. What gaps exist? What services, features, or information do they not provide?
3. What's their positioning? How do they market to this niche? What messages resonate?
4. What's the barrier to entry? Is specialized knowledge required? Regulatory compliance? Technology infrastructure?

In betting, you might discover that while major sportsbooks offer esports betting, none provide detailed player-performance analytics or offer competitive odds on tier-2 esports leagues. That's a gap.

Validate Market Demand

Before committing resources, verify that demand actually exists:

1. Search volume analysis: Use SEO tools to measure search interest. "How to bet on Slovenian handball" with 100 monthly searches may not justify specialized content.
2. Community engagement: Are there active forums, subreddits, Discord servers, or social media groups discussing this niche? High engagement signals real demand.
3. Competitive spending: Are established companies already investing in this niche? Advertising spend is a strong signal of viability.
4. Sales or usage data: If possible, obtain data on actual transaction volumes, customer counts, or revenue in the niche.

For betting niches, this might involve checking Reddit's r/sportsbook for discussion volume on specific sports, analyzing search trends for niche betting terms, or examining sportsbook offerings to see which niches they prioritize.

Why Are Niche Markets Important?

Niche markets offer strategic advantages that mainstream markets cannot provide, especially for specialized players and operators.

Less Competition and Higher Margins

The most obvious advantage of niche markets is reduced competition. In a mainstream market like NFL betting, you compete against thousands of sharp bettors, sophisticated algorithms, and well-funded syndicates. In a niche market like Estonian basketball, you might compete against dozens of analytical bettors.

This difference translates directly to margins. Bookmakers can charge higher vigorish (vig) in niche markets because:

1. Lower volume justifies higher margins: If a niche market generates $10,000 in weekly volume, a 10% margin yields $1,000 profit. A mainstream market generating $1,000,000 weekly with a 3% margin yields $30,000—but requires far less operational overhead for the niche.
2. Less sharp action: Fewer skilled bettors means odds don't move as efficiently. Mispricings persist longer.
3. Less information available: Public information is scarce. Bettors must conduct original research, creating temporary edges.

For bettors, this creates opportunity: if you can develop genuine edge in a niche market, the inflated margins mean your edge is larger than it would be in mainstream markets.

Stronger Customer Loyalty and Trust

Niche markets create powerful psychological and practical loyalty because they're built on specialization and trust.

When you become known as an expert in a specific niche—whether as a tipster, analyst, betting platform, or advisory service—customers develop deep trust. They believe you understand their needs in ways generic competitors don't. This creates:

1. Higher retention: Customers switch less frequently because the switching cost (finding a new expert) is high.
2. Premium pricing: Expertise commands higher prices. Customers pay more for specialized knowledge.
3. Repeat business: Loyal niche customers make frequent, consistent purchases rather than one-time transactions.
4. Referrals and word-of-mouth: Satisfied niche customers actively recruit others like themselves.

A bettor who follows a tipster specializing in obscure handball leagues will likely stick with that tipster for years, even if occasionally they underperform. Switching to a generalist who covers 50 sports is psychologically costly.

Efficient Resource Allocation

Niche markets allow you to concentrate resources where they're most effective:

1. Targeted marketing: Instead of broad advertising campaigns, you reach your exact audience through specialized channels (forums, subreddits, niche publications).
2. Lower customer acquisition cost (CAC): Reaching 1,000 esports bettors through esports communities costs far less than reaching 1,000 random people through mass media.
3. Focused product development: You build exactly what your niche needs, not a bloated product trying to serve everyone.
4. Efficient content creation: A single article on "Advanced Statistical Models for Thai Basketball" serves your entire niche. Generic "How to Bet" content helps no one.

This efficiency means niche market businesses can be profitable at scales where mainstream businesses would fail.

Niche Markets in Sports Betting: Practical Applications

Understanding niche market theory is useful. Applying it to sports betting is where value emerges.

What Makes a Betting Market a Niche?

In sports betting, a market becomes a "niche" when it meets several criteria:

1. Limited mainstream attention: The market receives minimal coverage from mainstream sports media, tipster networks, or betting analysis sites.
2. Lower betting volume: Fewer bettors participate, meaning less total money wagered.
3. Fewer analytical bettors: Reduced presence of sharp bettors, syndicates, and algorithms that optimize pricing.
4. Higher bookmaker margins: Sportsbooks charge wider vigorish because they assume lower competition and lower risk of arbitrage.
5. Specialized knowledge requirement: Success requires understanding specific leagues, players, or sports that most bettors don't follow.

For example:

• Mainstream market: Premier League football (millions of bettors, thousands of sharp bettors, 2–4% margins)
• Secondary market: Portuguese Primeira Liga football (tens of thousands of bettors, dozens of sharp bettors, 5–8% margins)
• Niche market: Estonian basketball (hundreds of bettors, few sharp bettors, 10–15% margins)
• Ultra-niche market: Slovenian handball (dozens of bettors, zero sharp bettors, 15–25%+ margins)

Examples of Niche Betting Markets

Real-world niche betting markets exist across multiple categories:

Alternative Sports:

• Esports: League of Legends, Dota 2, Counter-Strike, Valorant. These markets have exploded in recent years, attracting younger bettors and offering excellent odds for analysts who understand game meta and team dynamics.
• Combat sports: MMA (mixed martial arts), boxing, Muay Thai. Lower volume than mainstream sports but passionate, knowledgeable bettor bases.
• Niche individual sports: Snooker, darts, badminton, table tennis, curling. These sports have dedicated betting communities and inefficient pricing.
• Motorsports: Formula 2, Formula 3, motorcycle racing, rally racing. Specialized knowledge required; fewer bettors means better value.

Minor Leagues and Regional Competitions:

• Eastern European football: Bulgarian, Romanian, Serbian, Ukrainian leagues. High volume of betting, but low mainstream attention and often poor information availability.
• Asian basketball: Thai, Philippine, Korean leagues. Unique player talent pools, different rule interpretations, and limited English-language analysis.
• Latin American football: Argentine Segunda División, Brazilian Série B, Mexican lower divisions. High passion for football but limited analytical coverage.
• Nordic leagues: Finnish, Danish, Swedish hockey and football leagues. Well-organized but low international attention.

Specialized Betting Markets:

• Live betting on niche sports: In-play markets on obscure leagues often have even wider margins and more inefficiency than pre-match markets.
• Exotic proposition bets: Player props on minor league players, team stats on obscure competitions, unusual outcomes (e.g., "Will a player get a red card in this Thai league match?").
• Micro-markets: Highly specific outcomes like "Total corners in first half of Slovenian league match" or "Exact score in Estonian basketball game."

Finding Value in Niche Betting Markets

The core principle of value betting is identifying discrepancies between the odds offered and the true probability of an outcome. Niche markets amplify this opportunity.

Why niche markets offer better value:

1. Less sharp action: Fewer professional bettors means odds aren't continuously corrected toward true probability.
2. Information asymmetry: You may know more about a specific niche league than the sportsbook does. Sportsbooks often use generic models or simply copy odds from other books.
3. Lower liquidity: With fewer bettors, odds can be wider and less efficient. A 5% edge in mainstream betting might translate to a 15% edge in niche betting.
4. Delayed correction: Even when mispricings exist, they persist longer in niche markets because fewer people are hunting for them.

How to find value in niche markets:

1. Develop specialized knowledge: Follow specific leagues, teams, and players. Read local sports coverage (often available online in English). Study player statistics and historical performance.
2. Track odds movement: Monitor how odds change as betting volume arrives. If odds move against the consensus (e.g., a team's odds improve as more money comes in), the market may be inefficient.
3. Compare sportsbooks: Different sportsbooks price niche markets differently. Shop for the best odds. A 2–3% difference in a niche market can be significant.
4. Use statistical models: Build simple models to estimate true probability. Compare your estimates to implied probabilities from the odds.
5. Exploit home/away bias: Many bettors are biased toward familiar teams. An away team in an obscure league may be undervalued.
6. Monitor injury and lineup news: In niche markets, lineup changes often aren't immediately reflected in odds.

Example: You follow Estonian basketball closely and notice that a particular team's star player is injured. The sportsbook hasn't yet adjusted odds, still pricing the team at -150 (40% implied probability). You estimate their true probability at 30%. The expected value is positive: (0.30 × 100) + (0.70 × -150) = 30 – 105 = -75... wait, that's negative. Let me recalculate: If you bet $150 to win $100, and true probability is 30%, EV = (0.30 × 100) - (0.70 × 150) = 30 - 105 = -75. Actually, that's still negative. The point is: if true probability is significantly higher than implied probability, value exists. In niche markets, these mispricings are common and persist.

Common Misconceptions About Niche Markets

Several myths about niche markets persist, often leading to poor strategic decisions.

Misconception 1: "Niche Markets Are Too Small to Be Profitable"

This is false. While niche markets are smaller than mainstream markets, smaller size doesn't preclude profitability—it often enables it.

Consider: A mainstream sportsbook betting on NFL games generates $1,000,000 in weekly volume with a 3% margin = $30,000 profit. But this requires:

• Massive marketing spend to attract millions of bettors
• Sophisticated risk management to handle sharp bettors and syndicates
• Continuous odds adjustments to prevent arbitrage
• Customer service for millions of accounts

A niche sportsbook specializing in esports might generate $50,000 in weekly volume with a 12% margin = $6,000 profit. This requires:

• Minimal marketing (target esports communities)
• Simple risk management (fewer sharp bettors)
• Static odds that rarely need adjustment
• Customer service for hundreds of accounts

The niche is 5x less profitable in absolute terms but 20x more profitable per unit of effort and capital.

Additionally, niche markets often have higher customer lifetime value. A customer who bets on esports for 5 years generates far more profit than a mainstream bettor who tries one bet and leaves.

Misconception 2: "Niche Markets Are Easier Than Mainstream Markets"

This is partially true and partially false, creating a dangerous half-truth.

True: Niche markets have less competition and wider margins. If you have any edge at all, it's easier to profit in a niche.

False: Developing an edge in a niche market is NOT easier. It often requires more research, more specialized knowledge, and deeper analysis.

In mainstream NFL betting, you can use public information (ESPN statistics, widely-available models) and still compete. Thousands of bettors do this.

In niche markets like Estonian basketball, you must:

• Learn the league's rules, culture, and context
• Study individual players (often with limited English-language information)
• Build your own statistical models
• Track injury reports in local languages
• Understand coaching philosophies and tactics

The barrier to entry is high. But once you cross it, the margin of safety is much larger.

Misconception 3: "You Can't Scale a Niche Market Business"

This is false. Niche markets are highly scalable, just in different ways than mainstream markets.

Scaling a niche market business doesn't mean growing the niche itself—it means expanding into adjacent niches or geographic markets.

Examples:

• A tipster specializing in Portuguese football can expand to Brazilian football (similar style, overlapping audience).
• An esports betting platform can expand from League of Legends to Dota 2 to Counter-Strike (same audience, different games).
• A niche sportsbook serving Scandinavian bettors can expand to other Nordic countries, then Eastern Europe.

Additionally, niche markets often scale through community and content. A single analyst writing about obscure leagues can build an audience of thousands, then monetize through subscriptions, affiliate commissions, or direct betting platforms.

Strategies for Successfully Targeting Niche Markets

If you're building a product, service, or betting strategy around a niche market, these principles increase your chances of success.

Develop Deep Expertise in Your Niche

Expertise is the foundation of niche market success. Customers in niche markets specifically choose you because they believe you know more than alternatives.

How to build expertise:

1. Immerse yourself: Consume all available information about your niche. Read local news, watch games, follow social media, join communities.
2. Develop proprietary knowledge: Create models, analyses, or frameworks that others don't have. This becomes your defensible edge.
3. Publish and teach: Share your knowledge through articles, videos, or courses. This builds authority and attracts like-minded community members.
4. Engage with the community: Participate in forums, answer questions, contribute to discussions. Become a recognized voice.
5. Continuously learn: Niche markets evolve. Stay ahead by continuously updating your knowledge.

Build Community and Engagement

Niche markets thrive on community. People in niches want to connect with others who share their passion.

How to build community:

1. Create spaces for discussion: Forums, Discord servers, or Slack groups where community members interact.
2. Foster user-generated content: Encourage members to share their analyses, picks, and insights.
3. Recognize and reward participation: Highlight active members, create leaderboards, offer exclusive access.
4. Host events: Webinars, live discussions, prediction contests, or meetups (virtual or in-person).
5. Moderate thoughtfully: Maintain quality discussions by removing spam and enforcing community standards.

Strong communities create network effects: the more members join, the more valuable the community becomes, attracting more members.

Use Data-Driven Decision Making

While expertise and community are important, data should guide strategic decisions.

Key metrics to track:

1. Engagement metrics: Which content types generate the most discussion? Which games or leagues attract the most betting volume?
2. Conversion metrics: Which marketing channels convert best? What messaging resonates most?
3. Retention metrics: Which members stay longest? What keeps them engaged?
4. Profitability metrics: Which niches or sub-niches are most profitable? Where should you allocate resources?

Use this data to continuously optimize: double down on what works, eliminate what doesn't.

The Future of Niche Markets

Niche markets are not static. They evolve with technology, consumer preferences, and broader market trends.

Emerging Trends in Niche Marketing

Personalization at scale: AI and machine learning enable personalization to individuals, not just segments. Future niche markets may be "niches of one"—products and services customized to individual preferences.

Micro-niches: As markets fragment further, "micro-niches" (sub-segments within niches) become viable. Instead of "esports bettors," you might target "esports bettors who specialize in League of Legends mid-lane matchups."

Decentralized communities: Blockchain and Web3 technologies enable decentralized communities and platforms. Niche communities can create their own betting platforms, tokens, and governance structures.

Influencer-driven niches: Social media influencers increasingly create and define niches. An influencer with 100,000 followers interested in a specific sport can create a viable niche market.

Sustainability and values-based niches: Consumers increasingly choose based on values (environmental sustainability, social justice, animal welfare). Niche markets built around values will grow.

Niche Markets in the Digital Age

Digital technology has dramatically expanded niche market opportunities:

1. Global reach: An analyst in London can serve bettors in Australia, Japan, and Brazil. Geographic niches are less relevant; passion-based niches are more important.
2. Low barrier to entry: Anyone can create a blog, YouTube channel, or Substack to serve a niche. This has democratized niche market creation.
3. Community platforms: Discord, Reddit, Telegram, and other platforms enable niche communities to form instantly and scale globally.
4. Data availability: More data is available than ever. Obscure leagues now have detailed statistics, player tracking, and video analysis available online.
5. Automation: APIs and automation enable niche betting platforms and services to operate with minimal staff.

The future of niche markets in betting is bright. As sports proliferate (new esports leagues, new sports gaining popularity), as technology enables new betting types (live micro-betting, dynamic odds), and as global audiences become more diverse, new niches will constantly emerge.

Frequently Asked Questions

What is the difference between a niche market and a target market?

A target market is the broad group you're trying to reach (e.g., "all sports bettors"). A niche market is a specific segment within that target market with distinct characteristics (e.g., "esports bettors aged 18–30 who specialize in League of Legends"). Every niche market is a target market, but not every target market is a niche market. Niche markets are more specific and focused.

How do you know if a niche market is worth pursuing?

A viable niche market should meet these criteria: (1) It has identifiable, measurable characteristics. (2) It's large enough to be profitable but small enough to be underserved (typically 1,000+ potential customers). (3) It has demonstrated demand (search volume, community engagement, existing competitors). (4) You have or can develop genuine expertise. (5) It's accessible (you can reach the audience cost-effectively). If a niche fails any of these tests, it's probably not worth pursuing.

Can a niche market become a mainstream market?

Yes. Many mainstream markets started as niches. Esports betting was a niche market 10 years ago; today it's approaching mainstream status. Yoga was a niche market 30 years ago; today it's mainstream. As niches grow and attract more competitors and customers, they eventually transition to mainstream markets. This is actually the natural lifecycle of successful niches.

What's the minimum size of a niche market to be viable?

This depends on your business model and profit margins. A high-margin niche (e.g., premium advisory service with 15%+ margins) can be viable with just 100 paying customers. A lower-margin niche (e.g., sportsbook with 5% margins) needs thousands of customers. Generally, a niche with fewer than 1,000 potential customers worldwide is probably too small unless you can capture an extremely high percentage of that market.

How do you find niche betting markets that others don't know about?

Follow these strategies: (1) Monitor sportsbook offerings—look for markets with few competitors and high margins. (2) Explore international sports media in other languages. (3) Join niche betting communities (subreddits, forums, Discord servers) and observe which sports generate discussion. (4) Analyze search trends for niche sports terms. (5) Follow esports and emerging sports closely—they're constantly creating new niches. (6) Build relationships with bettors in specific regions and learn what they're betting on.

Why do bookmakers have higher margins in niche markets?

Bookmakers charge higher margins in niche markets for three reasons: (1) Lower volume means they need higher margins to cover fixed costs. (2) Less competition from sharp bettors means they face lower risk of significant losses from mispricings. (3) Less information available means they're less confident in their pricing, so they add a risk premium. The combination of these factors means niche markets can sustain 10–20% margins where mainstream markets operate at 2–5%.

Is it better to specialize in one niche or diversify across multiple niches?

This depends on your goals and resources. Specializing in one niche allows you to develop deep expertise, build strong community, and become a recognized authority. This is ideal if you're an individual analyst or small team. Diversifying across multiple related niches (e.g., multiple esports games, or multiple Eastern European football leagues) allows you to spread risk and capture more customers. This is ideal if you're a larger platform or service. The key is that you should never try to serve too many niches—you'll lack expertise in all of them. Focus on 1–3 related niches rather than 20 unrelated ones.

Related Terms

• Value bet — Finding positive expected value in niche markets
• Speciality markets — Alternative betting markets
• Line shopping — Comparing odds across sportsbooks to find value
• Sharp bettors — Professional bettors who exploit niche market inefficiencies
• Props — Proposition bets common in niche markets