Artificial intelligence revolutionises sports betting operations

Artificial intelligence (AI) is continuing to redefine the landscape of the sports betting industry, enhancing operational efficiency and user engagement significantly, according to Danil Emelyanov, Head of BETBY’s AI Labs. As reported by European Gaming Industry News, Emelyanov highlights that AI is no longer just an advanced tool for operators; it has become a fundamental necessity for staying competitive in this rapidly evolving marketplace.

The transformative impact of AI is evident in various operational facets of sports betting, particularly in its capacity to manage vast datasets. Emelyanov states that “AI excels at processing vast datasets,” allowing sportsbooks to refine traditional models with insights that were previously unattainable. This shift has enabled increased automation of processes, thereby reducing the reliance on manual oversight for departments such as trading teams. He emphasised, however, that while AI augments human processes, it does not replace them.

The vision behind BETBY’s creation of AI Labs stemmed from an observable gap in the market where operators were utilising fragmented tools for various operational purposes, such as churn prediction and risk management. Emelyanov explained, “Our vision was to build a comprehensive suite of tools that integrates seamlessly into our platform,” which now empowers operators to enhance both their operational effectiveness and player engagement.

AI Labs features tools like the Betting Tips API, which delivers data-driven, personalised betting advice in up to 18 languages, significantly improving usability and user experience. This feature has reportedly led to an increase in conversion rates and engagement, with 10% of soccer users within the BETBY network actively using it. Another notable achievement is the implementation of top-section recommendations, which have resulted in over 60% growth in bets in regions such as Japan by guiding users towards relevant betting options based on their behaviour and preferences.

Particularly distinguishing BETBY’s AI tools from competitors is their real-time capability. Unlike many existing AI solutions that operate with latency, BETBY’s technology processes and reacts instantly to data. Emelyanov noted that this immediate responsiveness allows for quick interventions, such as offering incentives to retain at-risk players or mitigating suspicious activity in real time. This functionality becomes essential, particularly as operators enter new markets; BETBY’s AI is equipped to adapt recommendations based on local insights.

Emelyanov also underscored another competitive edge — the integration of comprehensive market expertise within their operations. The company’s recognised risk management team lends invaluable insights that directly impact the development of their AI models, a resource not easily replicated by competitors.

Looking ahead, BETBY is set to introduce an industry-first AI-based feed at the upcoming ICE Barcelona. This innovative product will generate odds for unique markets that intersect with entertainment, marking a new phase for AI Labs. Emelyanov noted that this evolution responds to broader industry trends where users are increasingly seeking novel and engaging betting options that blur the lines between sports betting and other forms of entertainment.

The future of AI in sports betting appears focused on two key areas: escalating automation and heightened personalised engagement. Emelyanov predicts that AI will take on even more autonomous roles, managing operational tasks such as market settlement, allowing human traders to concentrate on more complex cases. Real-time personalisation is expected to influence the user experience even further, enhancing user satisfaction while potentially increasing the value of bets and player loyalty.

In conclusion, the continual evolution of AI in the sports betting sector presents opportunities for operators to enhance their offerings and drive user engagement, while redefining how betting interfaces with entertainment and leisure activities. Through ongoing innovation and comprehensive integration of AI, BETBY is poised not only to meet but also to lead industry trends, shaping the future of sports betting.

Source: Noah Wire Services