Standing out amid a sea of similarity is an issue that is tackled across each corner of the industry on a daily basis, as a constant jockeying for success delivers a range of innovations in a bid to climb above the competition.
One such example is LSports, which aims to respond to “many concerns” expressed by numerous partners regarding the ongoing challenge of engaging and retaining users.
This, CEO Dotan Lazar noted, has driven a need for “unique offerings and innovative tools” that surface “in almost every conversation”.
“Unsurprisingly, this has become crucial for most sportsbooks as acquisition costs have reached saturation,” he explained.
“Bettors seek a reliable source for sports data
How could these challenges of engagement and retention be best combatted to ensure operators retain competitive advantage.
“Bettors seek a reliable source that offers comprehensive information about their preferred sports events — odds, tips, stats, breaking news on injuries, and line-ups,” Lazar continued.
“They also want an integrated bet slip for easy betting. With the rise of in-play and micro-betting, sportsbooks are also constantly battling to deliver real-time, data-driven insights to users.
“Achieving all these goals within a single platform that captures bettors’ attention, resulting in increased time on site and betting activity, is challenging.
Differentiation is the way forward
“The key lies in differentiation. Bookies face difficulties standing out in an industry flooded with similar tools.
“The way forward involves embracing innovation and integrating products that provide users with a unique and thrilling experience while also being informative and effective in decision-making.”
“Tailored data packages present another common issue within operators. Sportsbooks function in diverse regions, featuring different popular sports, markets, and budgets.
“They require customised packages to cater to users with diverse preferences. For them, starting small and having the option to expand, rather than being committed to predetermined offerings, is critical.
“Comparing offerings to competitors in real-time is another struggle for many bookies. This limits their ability to make informed decisions about pricing, promotions, and fixtures, hindering their competitiveness.”
“Innovation plays a crucial role in addressing sportsbooks’ needs”
In addressing such difficulties, Lazar is keen to point out the challenges encountered by LSports’ clients were kept at the forefront of their minds in setting out to develop solutions.
“Being a technology-oriented company, innovation is at the core of everything we do, and it plays a crucial role in addressing these needs,” he said.
A pair of these, addressed in detail below, will also be showcased at next month’s ICE London, which it is noted “marks the peak of a significant and exciting period”.
Delving into further detail on how the company’s solutions can assist sportsbooks in combatting a range of pain points, Lazar commented on the two flagship products that were launched during the past year, and touched on the impact that they could have.
“SEC (Sports Expert Chat) is a product we view as a real disruptor in the industry,” he explained. “It functions as a ChatGPT-like sports betting chat, acting as a personal advisor for bettors and providing a unique player experience.
“By improving user loyalty and time on site, SEC assists bookies in increasing betting activity and volumes, enhancing engagement, and boosting user retention rates. We highlighted the need for differentiation in today’s landscape, and SEC serves as a clear solution to this requirement.
“TRADE360 is another cornerstone in LSports’ solution set – a sports trading platform allowing sportsbooks to optimise every aspect of trading operations.
“TRADE360 accommodates every behind-the-scenes element, providing odds, live score feeds, timely trustworthy settlements, a risk management tool, and fully customisable trading features, enabling bookies to decide how they want to consume the data.
“One exciting feature of TRADE360, which will be displayed at ICE, is BPS (Bookie Performance System).
“This new service allows partners to compare their offerings and performance against other bookies in real time. Bookies can make informed decisions by receiving personalised alerts and intelligent recommendations regarding gaps in fixtures, odds, and sports types.”
“Our solutions are the result of a constant dialogue with our partners”
To conclude, Lazar reminded that all attendees at London’s ExCeL are invited to experience a demo of these products, or simply gain additional insights about the group’s growing range of solutions.
“These innovative products and business milestones are the result of a constant dialogue with our partners,” he added.
“From the outset, we committed to addressing common pain points that sportsbooks face at various development stages and react fast. Achieving this requires attentive listening to our partners, and that’s precisely what we’ve done.”
Attending ICE? Swing by Booth S4-440 and chat with the team about the solutions on offer.