Innovation is the heart of the US economy and the ever-expanding legal sports betting economy in the United States is no exception to the rule. The Supreme Court overturning PASPA last May which allows each state to craft its own sports betting legislation has opened a huge world of opportunities.
At the heart of these new innovations and ones coming down the pipeline are products powered by automation, data and the big one, artificial intelligence.
Part of the challenge of the new legal industry is to convince consumers who have helped to create an industry worth well over $100 billion to change their habits. Instead of going overseas and to illegal sites, they should come to what the state they live in is offering.
A big part of the strategy is personalizing the experience for each bettor and it is AI that’s at the heart of that engine.
One company working on those solutions is called WSC Sports. They are working on a product in which automated highlights can be shown right after an important play takes place in a sporting event. The purpose of which is to educate bettors in real time that they can place bets on what may come next.
That side of betting -in game bets- is still very much in its infancy but providers from across the betting spectrum see that ability as a way to help explode the sports betting market.
WSC recently demonstrated their technology as part of an expo that the NHL held in Las Vegas for vendors who are showing how they can help grow the fan experience.
Shaka Arnon, the head of business development at WSC Sports peeled back the layer a bit in saying, “When you have more power with artificial intelligence and machine learning, you can target better and really hit the different bettors and fans with their tendencies and interests to get them content they find interesting and maybe drive more engagement. Engagement has a direct correlation with revenue in the betting sphere. Engagement means clicks and bets. Engagement means revenue.”
She added that it is the changes to the laws that are fueling this investment in new technology, ““The last year has been a testimonial to the U.S. market. Sports betting has been around for years. But the Supreme Court put this entire market in flux in a good way, and it shows how much of a driver the American market is and how much innovation exists here.”
The world WSC in trying to make a reality would involve the sports bettor getting a notification on their phone that there’s a new highlight they should check out. Now that the bettor is engaged, he or she will sign into their gaming app to place a bet on the next play.
The gaming app will reveal a list of bets they might be most likely to bet on considering their betting history and risk levels. They might also get bonuses for how often they sign in and will be given suggestions on other events happening in the moment that they can bet on.
All of that fueled by AI that knows the bettor and which makes betting more skilled and more fun. It’s coming soon to a future near you.