BETBY: Raising the bar for sportsbook solutions
5 Star iGaming Media speaks to Betby CEO Leonid Pertsovskiy about what makes a successful sportsbook solution.
How would you describe Betby’s performance last year?
In 2023, Betby experienced significant strides, marking a pivotal year of advancement. Our focus on enhancing products and services encompassed a broad spectrum, including bolstering trading capabilities and making substantial enhancements to our sportsbook features and Betby.Games portfolio. And the many opportunities we have ahead of us via both our products and services are extremely promising.
The accomplishments of the past year are a testament to not only the expansion of our existing partnerships but also the resounding demand for our sportsbook. These achievements stem from our core business strategic pillars: technology, differentiation, and scalability. These pillars lay the groundwork for our future triumphs and are instrumental in delivering substantial value to our partners going forward.
Though a relatively young player, Betby has showcased its sports-tech prowess, emerging as a major contender in the B2B sportsbook arena thanks to a cutting-edge sportsbook solution which is second to none. We’re not just equipping our partners to compete with global giants; we’re empowering them with top-notch products, coupled with versatile tools to tailor the sportsbook to their strategic needs. Enabling operators to distinguish themselves, target specific customer segments, and adapt is pivotal for fostering a scalable business model. Betby’s ongoing investment in these differentiation tools empowers operators to continually innovate with the Betby sportsbook platform.
Of course, it is also important to note that we will only succeed in maintaining this upward trajectory if we have a great set of products to sell. Fortunately, we embark on this journey from a position of strength, equipped with a leading sportsbook solution.
What has been Betby’s secret behind its rapid rise to establish itself as a leading sportsbook supplier?
In the fiercely competitive realm of sports betting, expertise and experience are pivotal for achieving success. The landscape of sports betting regulation is constantly evolving, introducing new intricacies that demand adaptability and technological prowess from operators across diverse jurisdictions. Betby remains at the forefront, perpetually refining its platform to tackle upcoming challenges, be it making its products comply with intricate regulatory frameworks or providing operators with the tools needed to surpass market competition.
The cornerstone of Betby’s product strategy lies in its flexibility, empowering partners with robust capabilities for differentiation amid a crowded market. Granting control over pivotal player-facing elements, like customizable front ends, and providing a suite of APIs enabling partners to craft their own user experiences atop Betby’s technology, underscores Betby’s commitment to giving operators greater command over crucial aspects of the sportsbook. This journey aims to augment operators’ market presence and revenue streams by placing increasing control in their hands.
In the realm of quality products and services, shortcuts simply don’t cut it. Success hinges on offering the finest solutions, and Betby has always been driven by and committed to this idea.
How is digitalisation transforming the sports betting industry?
The digital shift has unmistakably heightened consumer expectations for top-tier sports betting experiences.
Across the board, there’s a noticeable trend: players increasingly crave uninterrupted access to content and desire greater autonomy in their sports betting encounters, favoring versatile offerings like for instance the Bet Builder. Consumers seek a connection with the content they engage with, rather than being confined to options presented solely by the sportsbook. As leaders in the industry, our responsibility is to facilitate this expansive sportsbook journey, eliminating barriers to possibilities and equipping operators with the tools necessary to understand, fulfill, and surpass player expectations.
Luckily, we exist in an era teeming with data, where data reigns supreme. This abundance of data offers unparalleled insights into consumer behavioral patterns that surpass human capacity for management and processing. Consequently, this paves the way for groundbreaking technological progressions such as machine learning and artificial intelligence. At Betby, we’ve placed significant emphasis on these innovations, evident through the establishment of our Barcelona-based R&D Hub, recognizing their pivotal role in our product’s evolution.
How pivotal will machine learning and artificial intelligence be for an efficient and effective sportsbook operation?
AI technology is on the brink of becoming an indispensable element in every sportsbook operator’s toolkit, owing to its expanding array of applications. There’s ample reason to believe that AI’s successes across various domains can seamlessly translate into the data-rich landscape of sportsbook operations. Already, bookmakers are awakening to the potential inherent in AI.
Yet many have still not integrated artificial intelligence into their operations. Nonetheless one thing remains certain. Operators who fall behind in adopting technological advancements risk trailing in an increasingly competitive market.
Mindful of this, we’ve embarked on an exhilarating journey, crafting a suite of groundbreaking AI-powered tools accessible to our partners. And I’m thrilled to announce that we’ll be unveiling these latest tools at the upcoming ICE London event.
In which ways could AI optimise a bookmaker’s operations?
Betby’s suite of tools under the banner “AI Labs” directs its focus toward Risk Management Automation, Churn and LTV prediction, Sportsbook Personalization, and swift Business Intelligence Insights.
Among an operator’s facets, risk management emerges as a key focus area for harnessing AI and ML capabilities. For instance, analyzing player data enables AI to meticulously construct a bettor’s behavioral profile, evaluating their risk level for the bookmaker. These insights empower operators to safeguard their businesses without the need for exhaustive manual data scrutiny.
This holds especially true for larger-Tier operators handling substantial player account volumes, where manually profiling each account in real-time becomes a near-impossible task.
Moreover, operators foresee immense potential in leveraging AI and ML technologies for acquisition and retention strategies. These technologies offer the ability to optimize marketing budgets and retention approaches through personalized methods.
Betby’s AI-powered tools precisely enable operators to achieve this goal. Personalization extends the betting journey by enabling bookmakers to target customers with tailored content at optimal moments. Betby’s tools utilize player behavior patterns to streamline messages, bonuses, and bets effectively.
For instance, 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, feature prominently on the operator’s interface.
To maximize player acquisition and retention, delving into the customer’s journey at a granular level becomes imperative. Extracting insights from myriad data points — such as betting behavior and pattern — enables Betby’s deep learning models to predict player value. These algorithms yield valuable insights aiding bookmakers in refining their retention strategies, predicting player churn rates, estimating betting expenditure, and identifying potential high-value players.
Through Betby’s AI-based tools operators are able to also transform huge data volumes into actionable business intelligence. These insights find application across various operational domains, including amongst which financial performance. Crucially, these insights aren’t reliant on manual processes; AI streamlines their collection, translation, and visualization into comprehensive displays.
The terms “ground-breaking” and “game-changer” are often thrown around loosely in the industry, yet both aptly describe Betby’s latest AI-based products.
Coming back from a strong 2023, what are your goals for the new year?
We have plenty to take pride in for our past achievements. Last year, we ticked off numerous goals, yet our appetite for achievement only grows with each success. Hence, this year, we’ve set forth a fresh array of objectives spanning both product and commercial domains.
Crafting a top-notch sportsbook is no small endeavor. It demands substantial time, investment, and expertise for its creation, sustained maintenance, and continuous enhancement.
Our commitment remains steadfast: to perpetually innovate and deliver premier products and services to our partners. We firmly believe that through unwavering diligence and dedication, we can scale even greater heights in the future. This entails solidifying our presence in existing key markets and venturing into new territories to broaden our reach.