Future Anthem’s Playbook for Sportsbooks
In a rapidly evolving world, the integration of artificial intelligence (AI) has become not just a luxury but a necessity across various industries. The sports betting industry is no exception. Recognizing the pivotal role AI plays in ensuring long-term profitability and staying ahead in a fiercely competitive landscape, Future Anthem, a trailblazing AI and data science powerhouse, has unveiled its comprehensive playbook, “How sportsbooks can lead with AI.”
Created by the team behind Anthem’s highly acclaimed personalization product, Amplifier AI, this playbook is designed to empower sportsbooks to move beyond AI as a distant concept and instead place it firmly in the hands of players. In this article, we’ll dive into the playbook’s key insights, practical steps, and the immense potential AI holds for the future of sports betting.
The Urgency of AI in Sports Betting
The rapidly changing landscape of the entertainment industry, driven by the likes of Spotify, Netflix, and Amazon, has set a new standard for ultra-personalized experiences. Consumers now have heightened expectations, and this trend is extending its reach to the sports betting sector. This convergence of media, leisure, and e-commerce has ushered in a new era of possibilities for sportsbooks.
Future Anthem’s CEO, Leigh Nissim, underscores the importance of AI in sports betting: “There’s no doubt in our minds that the sports betting industry is next – the sector sits at the perfect intersection of media, leisure, and e-commerce. The race to real-time personalization is on – we’re urging sportsbooks to get ahead of the pack with this playbook to find out how they can win.”
A Practical Guide to AI Integration
The playbook aims to provide decision-makers in the sports betting industry with a practical guide. It offers specific and actionable tips and tactics that can be incorporated step by step. By breaking down the AI integration process, it seeks to demystify AI and help sportsbooks confidently embark on this transformative journey.
AI’s Proven Impact on the Player Journey
The playbook delves into the significant impact of AI on the player journey. It showcases AI’s track record in achieving uplifts in various aspects of this journey, including Net Gaming Revenue (NGR), player retention, and open rates. Anthem draws upon its extensive expertise to guide readers on how to effectively implement AI in their sportsbooks. The best part? It’s more straightforward than it may initially seem.
A Year of AI Evolution
In the past year, Future Anthem’s Amplifier AI has processed approximately 700 million sports bets, spanning diverse behavioral profiles, countries, and platforms. By closely collaborating with leading operators, Anthem has witnessed a remarkable surge in the adoption of artificial intelligence. More sportsbooks are taking progressive steps to leverage their data and harness the latest AI technologies in real-time to personalize player experiences.
The Playbook’s Step-by-Step Approach
Now, let’s explore the step-by-step approach outlined in Future Anthem’s playbook:
Alignment with Strategic Objectives: The first step is to align AI with your sportsbook’s current strategic objectives. AI should serve as a catalyst for achieving these goals.
Identifying Successful Use Cases: Next, identify use cases with the potential for quick and substantial returns. This involves pinpointing areas where AI can make an immediate impact on player experiences.
Measuring Effectiveness: Establish robust measurement mechanisms to gauge the effectiveness of AI implementation. Metrics should align with your strategic objectives.
Building a Business Case: Develop a compelling business case that demonstrates the tangible benefits of AI to your Chief Financial Officer (CFO) and key stakeholders.
Build or Buy: Finally, decide whether to build an in-house AI solution or explore existing AI solutions available in the market. Consider factors such as cost, expertise, and time-to-market.
By following these steps, sportsbooks can embark on their AI journey with confidence, knowing that each stage contributes to enhancing player experiences and, ultimately, profitability.
FAQs: Answering Key Questions
Why is AI crucial for sportsbooks in today’s landscape?
AI is essential as it empowers sportsbooks to provide highly personalized experiences, meeting the rising consumer expectations driven by tech giants like Spotify and Netflix.
What can sportsbooks expect from AI integration in terms of player retention and revenue?
AI can lead to significant improvements in player retention, NGR, and open rates, ultimately boosting long-term profitability.
How has Future Anthem’s Amplifier AI evolved over the past year?
Amplifier AI has processed around 700 million sports bets across diverse profiles, countries, and platforms, solidifying its position as a cutting-edge AI solution.
What does the playbook’s step-by-step approach entail?
The playbook offers a structured approach, including alignment with strategic objectives, identifying use cases, measuring effectiveness, building a business case, and deciding whether to build or buy AI solutions.
What benefits can sportsbooks expect from AI integration in the long run?
AI integration promises to enhance player experiences, drive profitability, and position sportsbooks at the forefront of the industry’s evolution.
September 22, 2023
September 22, 2023
September 22, 2023