Trends will be trends

“The sports betting industry is at an exciting juncture. In 2023, user acquisition reached a saturation point, emphasizing the crucial importance of engagement and retention,” Lazar said.

“However, sportsbooks are now confronted with the challenge of presenting bettors with unique offerings in a market flooded with similar tools. I anticipate that the trends of seeking differentiation and delivering a personalized player experience will remain prevalent in 2024.

“To navigate this landscape successfully, technology-driven companies like LSports must persist in developing solutions, while bookies must embrace a culture of innovation.

“Insufficient or unsatisfactory coverage is another challenge we often hear about from sportsbooks.

“When it comes to sports data, customization is key. Operators work in different regions of the world, catering to users with diverse preferences regarding sports, markets, and types of bets, all while managing various budgets. Consequently, they seek tailored data packages, serving as a base from which to expand.”

Where to?

LSports is active in every key market worldwide and maintains a physical presence in Asia, Africa, and LatAm. Still, much like the entire industry, they are also very excited about the latest developments in Brazil.

Fully prepared for this endeavor, LSports boasts a track record of collaboration with high-caliber sportsbooks operating in the country. The Company’s representative provides partners with comprehensive 360° support, covering sales, customer support, and customer success. Additionally, LSports’ suite of products is fully localized to cater to the preferences of every Brazilian sports fan.

Leveraging the company’s experience, free consultations on expansion strategies into Brazil and Latin America are also offered. “I strongly encourage sportsbooks to seize this opportunity and get in touch with us”, Lazar noted.

Strength in numbers

From a business perspective, 2023 proved to be a “remarkable year” for LSports. In addition to expanding its sports data coverage – surpassing the 100 sports mark and adding fixtures and new markets—the company also secured the industry’s lowest latency levels.

They also launched two flagship products – SEC, a ChatGPT-like sports betting chat, and TRADE360, a sports trading platform that is considered to be “an industry game-changer”. Internally, its employee count was also doubled, a significant trend that it plans to boost in the year ahead.

Geared up for 2024

Regarding its ambitions through the coming 12 months, LSports has stressed a commitment to empowering sportsbooks to stand out, maximising their business, and gaining a competitive edge.

“We relentlessly strive to address sportsbooks’ specific pain points, a commitment that stands in 2024,” Lazar continued.

“We will continue expanding our line of betting stimulation tools, introducing an exciting social betting platform named ‘Points in Play’. Additionally, we plan to incorporate personalized features into TRADE360, empowering bookies to compare their odds with competitors and receive notifications for optimizing their offerings.

“We will also announce several strategic partnership deals. These endeavors are designed to solidify our position as a genuine industry leader and pave the way for entering new regions filled with untapped potential.

“Guided by our resounding marketing slogan, ‘LSports – your ultimate partner for success,’ I am confident that 2024 will witness numerous partners proudly endorsing this statement.”

This year marks the peak of a significant period for LSports. Over the past year, we launched two flagship products that we consider industry game-changers and expanded our market-leading sports data coverage even further. These innovative products and business milestones are the result of a constant dialogue with our partners, that shared with us the challenges and difficulties they are facing.

At ICE, we’ll showcase our recently launched solutions to sportsbooks, demonstrating their impact in addressing pain areas, including user engagement and retention, differentiated offerings, personalized data packages, and more:

SEC (Sports Expert Chat) is a ChatGPT-like sports betting chat, serving as a personalized advisor for bettors and delivering a unique player experience. By enhancing user loyalty and on-site time, SEC aids bookies in boosting betting activity and volumes, improving engagement, and elevating user retention rates.

TRADE360 is a sports trading platform empowering bookies to optimize all aspects of trading operations. It covers every behind-the-scenes element, offering odds, live score feeds, reliable settlements, a risk management tool, and fully customizable trading features, allowing bookies to tailor their data consumption.

A noteworthy feature of TRADE360 showcased at ICE, is BPS (Bookie Performance System). This innovative service enables partners to compare their offerings and performance in real time against other bookies. With personalized alerts and intelligent recommendations on gaps in fixtures, odds, and sports types, bookies can make well-informed decisions.

Become a pioneer in shaping Points in Play – Join as an early bird design partner!

Consequently, prioritizing retention has emerged as a cost-efficient strategy for enhancing profitability, though it presents a substantial challenge. Recent research by Betting Hero conducted earlier this year yielded a striking finding: 77% of sports bettors expressed their willingness to transition from their current betting platform to an alternative option. This sentiment is bolstered by a separate study, which revealed that merely 4% of bettors maintain loyalty to a single platform for over a year. These findings align seamlessly with the prevailing consumer trend of favoring convenience over steadfast loyalty.

The question arises: how can sportsbooks maintain the engagement and satisfaction of bettors once they have taken advantage of a generous welcome offer and placed their initial bet on the platform?

A multitude of established bookmakers now offer diverse tools to sustain customer engagement. However, in a saturated market where these tools often appear indistinguishable to users, sportsbooks must present a unique value proposition – a clear differentiation that captures their audience’s attention.

While a robust and gratifying player experience remains pivotal to retaining users, the true game-changer lies in personalizing this experience. Customer loyalty to a platform hinges upon its ability to provide a tailor-made encounter, mirroring the personalized experiences that consumers now expect across various industries. This entails an experience that aligns with their expectations and offers targeted solutions to their specific requirements. Despite the substantial appetite among sports bettors for data, blitzing them with generic promotions instead of tailored activations and offers can prove ineffective.

With a legacy dating back to 2012 in the sports betting industry, LSports recognizes the pressing demand for innovative and distinctive solutions. In response, we have recently unveiled an innovative product lineup driven by a narrative of personalization.

In conjunction with TRADE360, LSports’ advanced sports trading system, and BPS (Bookie Performance System), which monitors the market and provides real-time recommendations to operators for adjusting their coverage and margins, our product portfolio introduces cutting-edge tools for stimulating betting activity. These tools are meticulously designed to deliver contemporary and interactive experiences to users while concurrently addressing the challenges of differentiation and bettor engagement faced by bookmakers.

The standout offering within this lineup is our groundbreaking Sports Expert Chat (SEC), a sophisticated language model employing technology similar to ChatGPT. SEC functions as a personalized sports advisor, analyzing bookmakers’ odds to furnish data-driven tips. Moreover, it supplies bettors with customized insights about specific events of their interest, encompassing relevant news, weather conditions, and statistics.

Another intriguing addition coming soon is “Points in-play,” an interactive social betting tool that presents users with captivating contests and activations during live sporting events based on their preferences. This feature heightens the thrill of the betting experience by ensuring bettors engage exclusively with content that resonates with their tastes. Analogous to SEC, “Points in-play” avoids overwhelming users with extraneous information and provides stimulating activations tailored to their favored events.

These innovative offerings undoubtedly empower bookmakers to elevate customer retention in an era where users anticipate more than basic betting odds and lines. Sportsbooks play a critical role in adjusting to the technological landscape and meeting the increasing need for advanced personalized data solutions. Failing to acknowledge this demand might result in their relegation to the sidelines.

What is SEC?

SEC (Sports Expert Chat) is a cutting-edge interactive chatbot and sports data hub powered by technology similar to ChatGPT, providing various benefits:

A fully automated, trustworthy personal sports advisor: SEC delivers actionable insights and expert guidance to bettors by offering data-driven tips, essential event details, live updates, weather forecasts, and comprehensive statistics. This enables them to make informed decisions.

what’s in it for sportsbooks?

– Unveiling Real-Time Odds Insights and Updates: Experience the power of SEC’s Dynamic Odds Analysis.

– Enhanced user loyalty: Increase users’ satisfaction and experience a boost to your turnover rates by delivering bettors comprehensive and relevant data.

– Unparalleled personalized player experience: Dive into the ultimate personalized betting experience through SEC’s tailored recommendations to individual preferences.

– Unique selling proposition: Set yourself apart from the competition with a unique product offering that enhances your value proposition to bettors.

Empower your sportsbook, transform the industry!

At LSports, our vision for SEC extends beyond conventional boundaries. We aim to slash your customer acquisition (CAC) costs by 50% and seamlessly convert casual users into active, committed customers.

Don’t miss out on an opportunity to revolutionize your sportsbook. SEC is now available for pre-launch – learn all about it here and experience the Future Today!

The world-leading sports data provider presents its groundbreaking sports trading platform. Dotan Lazar, LSports Co-Founder and CEO: “Committed to our product vision, we remain fully dedicated to equipping our partners with powerful tools that will provide them access to an unparalleled wealth of sports data and position them ahead of their competitors”

With its ongoing focus on providing sportsbooks with cutting-edge solutions, LSports is delighted to introduce TRADE360 – a revolutionary sports trading platform that empowers bookies with unparalleled control over their operations. As an enhanced version of our highly acclaimed STM product, TRADE360 offers bookies a set of exclusive game-changing capabilities that no other provider in the industry delivers.

In addition to real-time comparative odds data from different bookies , TRADE360 offers a suite of exclusive features that redefine the landscape of sports trading: A deep analysis tool that compares coverage, uptime, and market numbers, an alerting system that generates notifications for moving handicaps and line/odds mismatches, and an innovative recommendation system enabling operators to automate trading through the trading floor.

TRADE360 serves as a launchpad for LSports’ long-term product vision, which goes beyond our exceptional B2B offering. This vision includes a set of cutting-edge and fully personalized engagement and retention tools, led by SEC (sports expert chat), the company’s flagship AI based product that utilizes similar technology to ChatGPT. SEC offers users a real-time insights feed connected to their bet slip, enhancing the betting experience like never before.

Dotan Lazar, LSports Co-Founder and CEO: “Just Imagine that within your trading floor, you can now have segmentation capabilities, pushing you CTA alerts when you need to add a missing event to our offer or adjust the margin for different geographical regions, customer sizes, and operation styles (retail vs. online).

“The introduction of TRADE360 showcases LSports’ commitment to our new product vision. We are equipping our partners with powerful tools and capabilities designed to position them ahead of their direct competitors. Moreover, we are addressing the challenge of engaging and retaining bettors through a range of advanced technology-driven products set to launch soon. We encourage sportsbooks to seize this opportunity and embrace tomorrow’s trends before it’s too late.”

TRADE360 presents a range of powerful features that contribute to an enhanced sports trading experience. Check them out here.

Revolutionize Your Sports Trading Today!

We would love to demonstrate the features and benefits of TRADE360 in more detail. Don’t hesitate to contact us to schedule a personalized demo with our team or discuss how TRADE360 can be customized to fit your unique requirements.

The Indian Premier League (IPL) has gained a massive following over the years, with millions of fans tuning in to watch the matches live or following the scores and updates online. This popularity has resulted in a demand from sportsbooks for fast and accurate real-time sports data and engagement tools to bolster offerings and drive user retention. This is where LSports comes in.

During the past year, LSports has dramatically expanded its coverage of Cricket. In March 2022, we supported 230 pre-match fixtures and 102 in-play fixtures. These numbers increased significantly, and currently stand at 1,199 pre-match fixtures and 420 in-play fixtures.

Using STM, our fully automated sports trading manager, bookies can choose their desired fixtures, markets, and settlements and set their preferred margins.

In cooperation with STATSCORE, LSports also arms its clients with Scoutsfeed, a reliable and accurate sports data live score feed delivered by our highly-trained scouts directly from the venues, TV, or our other unique solutions.

To complete the cycle, LSports supports the IPL with BetBooster, its AI-based betting tips tool. With this cutting-edge product, operators can provide their users with hundreds of tips (pre-match & in-play) about cricket matches. The tips are supplied in a feed or a widget with a fully integrated bet slip for easy and fast punter navigation.

Being a leading sports data provider comes with responsibilities. One of them is to constantly feel the market and identify opportunities to grow and expand. In that context, Latin America, undoubtedly one of the world’s fastest-growing betting markets, has been a major target in LSports’ long-term strategy since it started. Recently we’ve started to walk the talk with several key strategic steps that underscore our regional intentions.

Originally posted on  Gambling Insider