There are a lot of positives that operators are receiving from the seemingly unstoppable upward trajectory that the sports betting industry is experiencing. The increase in popularity when it comes to mobile betting, the commercialisation and hence greater coverage of sporting events, and the rise of new and emerging markets such as the new Brazilian reality, are among some of the factors driving this growth. However, opportunities do not automatically translate into an easy win, even when it comes to the larger, more established Tier 1 operators.
Operators know they need to have a technological partner capable of putting at their disposal a cutting-edge sportsbook solution, a broad event and market offering, a solid trading team to offer a broader event coverage and margin flexibility, a very capable risk management team… and the latest AI-powered sportsbook tools.
Nowadays we are already seeing innovative bookmakers leveraging AI to their advantage on a daily basis. Advanced AI models are revolutionising sportsbook operations, being a driving factor for bookmakers in the running of their business and changing the dynamics for all the players in the market.
At Betby, with our proprietary AI Labs sportsbook technologies, we are witnessing this firsthand across four main pillars:
• UX • Risk management • Odds creation • Operations
UX
While bookmakers have been doing marketing or CRM since the very start of their operations, not much has been done when it comes to personalisation. In comparison, this is what we are delivering with our advanced models – taking the guesswork out of personalisation by analysing and identifying player betting behaviour through different data points – whether it’s sport, league, bet type, channel, time of activity etc – and offering players the most appealing sport, league, event and market which best befits their past behaviour. This is particularly important when it comes to seeing the positive impact this has in terms of boosted numbers of bets placed and increased turnover, by showing players the content that really appeals, matching their interests.
Furthermore, having the possibility to tap into the volumes of individual player data that on an almost real-time basis allows bookmakers to target their players with the right content, bonuses and messages at the right time.
Risk Management
AI models are very handy for bookmakers to improve their operational performance. This is particularly true when it comes to risk management, where without leveraging AI technologies, player profiling is a manual process liable to result in errors. The direct consequences from this process mean that without proper player behaviour analysis, bookmakers cannot make correct determinations in terms of the risks associated with each bettor. Thus, resulting in the unwanted scenario where operational risk is increasing which can lead to a turnover downfall.
In contrast, when comparing our risk management solution, which works in sync with the AI Labs player profiling tools, we have seen a 99% increase in the detection of activities associated with increased risk.
At the end of the day a more robust risk management system means higher profits for businesses, and ensuring healthier operational risk exposure by limiting players in accordance to their behaviour.
Odds Creation
AI also allows those operators who seek to scale and diversify their offerings without compromising quality. And all this can be achieved by reducing the need for manual intervention from trading teams. Through our freshly unveiled AI entertainment content feed – which is the first step that Betby is doing in the direction of content creation by leveraging its latest AI technologies – Betby is able to cover unlimited, unique and localised content, ensuring all player bases are consistently engaged with fresh, relevant and exciting betting opportunities, turning sports betting from a transactional activity into a captivating experience.
Operations
The advent of AI and Machine Learning technologies have perhaps their biggest impact from an operational point of view, allowing bookmakers to instantaneously analyse thousands of players and their behaviour, and determine on an almost real-time basis outcomes related to churn, LTV, and the overall value index of any player.
These deep-learning algorithms generate several valuable insights that bookmakers can use to optimise their retention strategies, allowing for a more effective use of the marketing budget by targeting the right players with the right campaigns.
