According to Betby Chief Commercial Officer Chris Nikolopoulos, the landscape of sports betting regulation is in a constant state of flux, introducing new complexities that necessitate adaptability and technological acumen across diverse jurisdictions.
SBC: Tier 1 is a term that’s often bandied around, but what exactly constitutes a Tier 1 sportsbook solution in your opinion?
Chris Nikolopoulos (CCO, Betby): Tier 1 sportsbook solution is characterised by several key features and qualities that set it apart from other options. At the core of any premium solution reliability and stability are key, allowing for effortless management of large volumes of traffic and transactions, ensuring a seamless and uninterrupted user experience.
The ability to scale and adapt to growth is also a defining characteristic with Tier 1 solutions designed to handle increased user numbers and expanding operations without compromising performance, thus future-proofing the platform.
Comprehensive sports coverage from official data is also a main prerequisite. Operators need to offer an extensive array of sports and events, ensuring that this comprehensive coverage meets the diverse preferences of a broad audience.
Tier 1 sportsbook solutions are also synonymous with the constant implementation of cutting-edge technology, seeking to constantly embrace innovative technology to elevate the sportsbook experience, just like Betby which this time round in London will be unveiling its advanced AI-based sportsbook tools.
Tier 1 sportsbook suppliers also need to navigate complex regulatory landscapes, adhering to strict regulatory guidelines and licensing standards, ensuring compliance and legal integrity.
One aspect which distinguishes premium suppliers from the competition is having in place responsive support. Customer satisfaction is paramount, and addressing partner issues promptly and efficiently, prioritising a positive bettor experience, should be on top of the agenda.
SBC: And how does this fit with Betby’s approach to perfecting its own sportsbook solutions?
CN: In the highly competitive domain of sports betting, success is contingent upon product excellence, and expertise. The landscape of sports betting regulation is in a constant state of flux, introducing new complexities that necessitate adaptability and technological acumen across diverse jurisdictions. Betby stands as a frontrunner, continuously enhancing its platform to effectively tackle upcoming challenges, whether it involves aligning its products with intricate regulatory frameworks or equipping operators with the tools essential for outpacing market competition.
At the core of Betby’s product strategy is a commitment to flexibility, providing partners with robust capabilities to differentiate themselves in a crowded market. By giving control over pivotal player-facing elements, such as customisable front ends, and offering a suite of APIs that enable partners to shape their own user experiences using Betby’s technology, the company underscores its dedication to empowering operators with greater command over critical aspects of the sportsbook. This aims to amplify operators’ market presence and revenue streams by placing increasing control in their hands.
In the realm of top-notch products and services, taking shortcuts simply won’t suffice. Success pivots on delivering the finest solutions, and Betby has consistently been guided by and devoted to this principle.
SBC: AI continues to dominate conversations around innovation in sports betting. How can AI tools help operators in areas such as churn and LTV prediction, bet recommendation, prompt BI reporting, and risk management automation?
CN: AI continues to be the central topic in discussions about innovation within the realm of sports betting. Its transformative impact is undeniable, revolutionising how data is analysed, predictions are made, and user experiences are personalised. The ability of AI to process vast amounts of data swiftly and uncover patterns not easily discernible by human analysis positions it as a game-changer, influencing overall competitiveness. With this in mind we have worked on developing our proprietary portfolio of AI-based tools which we will be launching under the banner “AI Labs” at ICE London.
Focused on Risk Management Automation, Churn and LTV prediction, Sportsbook Personalization, and rapid Business Intelligence Insights, these tools play a crucial role in shaping the landscape of sports betting operations.
Among the various facets of an operator’s responsibilities, risk management stands out as a pivotal area where AI and ML capabilities shine. By analysing player data, AI constructs detailed behavioural profiles, assessing risk levels for bookmakers and empowering them to safeguard their businesses without the need for exhaustive manual scrutiny, especially pertinent for larger-tier operators handling substantial player account volumes.
Additionally, operators recognize the vast potential of leveraging AI and ML technologies for acquisition and retention strategies. Betby’s AI-powered tools precisely enable operators to achieve this goal by personalising the betting journey, targeting customers with tailored content, and optimising marketing budgets and retention approaches through personalised methods.
For example, Betby’s bet recommendation models elevate the betting experience by catering to a player’s specific preferences, ensuring that the most relevant matches based on a player’s betting habits are prominently featured on the operator’s interface.
To maximise player acquisition and retention, delving into the customer’s journey at a granular level becomes imperative. Betby’s AI-based tools extract insights from myriad data points, predicting player value through deep learning models. These insights aid bookmakers in refining their retention strategies, predicting player churn rates, estimating betting expenditure, and identifying potential high-value players.
Betby’s AI-based tools also transform vast data volumes into actionable business intelligence, applicable across various operational domains, including financial performance. Crucially, these insights are streamlined through AI, eliminating reliance on manual processes and presenting comprehensive displays.
SBC: ICE is fast approaching. What’s your key message to new and existing customers heading to the Betby booth this year?
CN: I invite sportsbook operators, whether they are new or existing customers, to discover true sportsbook innovation, cutting-edge AI-powered tools, and personalised solutions that are set to redefine the betting experience. From risk management excellence to industry-leading retention strategies, Betby is in the optimal position to partner and help operators to maximise their success. At Betby, the future of sports betting is now, and we invite all operators to be a part of it!
Chris Nikolopoulos – Chief Commercial Officer – Betby