Latest News
Sportradar’s Alpha Odds Increased Profits by 15% for Operators Across UEFA Euro 2024 Qualifying Matches
Alpha Odds, Sportradar’s AI-driven personalised odds technology, boosted profits for sportsbook operators by an average of 15% during the UEFA European Championship Qualifying Matches. With the upcoming UEFA Euro 2024 anticipated to generate more than €62.2 billion in global betting turnover, operators can maximize profits and manage risk by utilizing this product during the quadrennial tournament.
Launched in 2022, Alpha Odds leverages Sportradar’s advanced AI technology to more accurately predict the probability of a game event taking place, enabling operators to manage their risk more effectively. When combined with real-time and predicted liquidity, Alpha Odds allows operators to generate bespoke betting prices in line with their risk exposure and liabilities.
As examples of how Alpha Odds increased profitability for operators during the UEFA Euro 2024 Qualifiers, where one team was heavily favoured, Alpha Odds helped clients manage risk in real-time and continue to accept bets as goals were tallied and the scoreline grew. Additionally, while a conventional odds service would have left operators vulnerable to a matchday of customer friendly results, such as all the favourites winning at home by two or more goals, Alpha Odds’ predictive capabilities enabled instant adjustments, safeguarding sportsbooks against significant losses, as a match unfolded.
Darren Small, Senior Vice President of Managed Trading Services (MTS) at Sportradar, said: “The predictive capabilities that Sportradar has developed for Alpha Odds are proving to be a game changer ahead of this summer’s tournament, enabling operators to consistently improve profitability and deliver higher margins across soccer betting.”
Alpha Odds is available across Sportradar’s portfolio of betting markets for soccer and tennis, both pre-match and in-play. The solution will be expanded across basketball later in 2024.
The post Sportradar’s Alpha Odds Increased Profits by 15% for Operators Across UEFA Euro 2024 Qualifying Matches appeared first on European Gaming Industry News.
Interviews
Consolidating brands efficiently to achieve high growth
Tom Walton, Director at technology consultancy, Burendo, shares how operators can achieve sustainable profitability with learnings from other sectors
Operators who are merging and acquiring other businesses, launching new products or even integrating third-party technologies, can find themselves navigating complex internal processes. It is a complex large-scale challenge. Where M&As are commonplace, brand consolidation can be critical when securing sustainable profitability while planning for higher returns in the future. Within the emerging LatAm and US markets, acquisition remains a key focus. A common issue, regardless of geography, is the challenges presented by outdated or fragmented platforms and systems, a major obstacle in the growth trajectory.
In many cases, fundamental changes in how the organisation functions: its people, processes and technology holds the key to better value, higher profits, operational efficiency and reduced risk. By addressing these complexities with proven experience, technology consultants can support operators to be successful in their strategic initiatives.
Agility in competitive markets
To remain competitive in an ever-changing market, operators must move fast and with agility to refine their offering. A constant eye on retention, acquisition and regulatory changes is paramount to avoid financial impact. Despite this risk, research conducted by Accenture in 2022 found that 95% of B2B and B2C C-level executives believe their customers are changing faster than they can change their business, indicating most operators risk falling behind. This poses the question of how this can be supported.
The value of technology consultancies is in enabling businesses to extract greater value from existing resources through a confident understanding of what good looks like. Bringing external ideas gathered through experience, exemplary resources from process to people, can demonstrate what good looks like. More importantly, it shortens the timeline to achieving real goals in the organisation. Being under resourced or lacking the skills needed across these challenges makes it difficult to gain an overarching perspective particularly within a siloed approach.
At Burendo, we leverage more than 40 years of cross-sector experience. We are not only working with some of the biggest operators in betting and gaming, but partner with other highly regulated industries including finance and healthcare. We have helped operators across many initiatives helping them to realise cost savings or increased revenue in a matter of weeks. We pride ourselves in ensuring we leave a lasting positive impact on the culture, enabling our partners to be empowered to carry on our work.
The retention battle
Many operators are too busy with day-to-day tasks or overwhelmed with where to start when it comes to transformation and building a cutting-edge user experience. An example of the gap between capacity and demand is the rising popularity of in-play betting. During live sports, the speed in which players can find and place their bet is critical. Here, streamlined processes that allow for quick innovation will correlate with customer satisfaction, resulting in higher retention rates.
A fresh perspective for lasting change
A successful approach to optimisation requires taking the challenge and viewing it from an experienced and innovative angle. Our partners truly benefit from best practice and valuable lessons derived from other sectors. Through experience we have found that these challenges are not exclusive to betting & gaming and so the ability to apply these learnings drive success.
Managing complex systems and large volumes of data is a common obstacle. By applying these cross-sector principles through working with technology consultants, operators can gain valuable insight into re-engineering platforms and the skills needed, to meet both current and future demands.
Building exceptional, scalable and adaptable architectures ensures that businesses can continue to grow and evolve as the industry changes. This forward-thinking approach positions operators ahead of the curve, meaning they are poised for success in the years to come and have the agility to address any challenges or opportunities that arise.
Creating lasting change requires more than just solving immediate problems. Our goal for our clients is to maintain high levels of efficiency long after an initial transformation is complete. By empowering teams to implement and sustain improvements, operators can maintain continuous growth and unlock growth worth tens of millions of pounds, far outweighing their cost of delivery.
The focus must now shift to building stronger, more Agile organisations that can adapt to changing market conditions. Sustainable efficiency enables operators to optimise time-to-market, improve platform performance, and manage resources more effectively, creating a foundation for long-term growth.
About Burendo
Founded in 2018 and with offices in Leeds and London, Burendo is an award-winning, consultancy delivering stand-out products and services through technology. We partner with organisations to accelerate organisational value delivery and transform customer experiences.
We are pragmatic thinkers and doers who understand the operational world of organisations and customer demands. We work as a partner to give our clients the latest ideas, tools and techniques to deliver effective results that build long-term value.
For more information, you can visit the Burendo website: www.burendo.com
If you have any questions, please contact Kate Smith, Senior Digital Marketing Executive by email: kate.smith@burendo.com
The post Consolidating brands efficiently to achieve high growth appeared first on European Gaming Industry News.
Brazil
EGT Digital is a licensed software provider for Brazil
EGT Digital is proud to announce that it has obtained a licence that allows it to provide its software products in Brazil. The Bulgarian provider was certified by the regulator Secretariat of Prizes and Bets (SPA) and can now offer local operators its rich portfolio of gaming solutions, containing over 120 in-house developed casino titles and the 4 top-performing jackpots Bell Link, High Cash, Clover Chance, and Single Progressive Jackpot.
Tsvetomira Drumeva, Head of Sales at EGT Digital, shared her excitement regarding the authorization: “We are delighted to have the opportunity to present our gaming content to the Brazilian market. Our slots are available to domestic players, ready to captivate them with their numerous fascinating features and provide an unforgettable experience, fully tailored to their tastes and preferences.”
The post EGT Digital is a licensed software provider for Brazil appeared first on Gaming and Gambling Industry in the Americas.
ADG
Arizona Department of Gaming Releases October Sports Betting Figures
Bettors in Arizona wagered approximately $791 million on sports in October of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 22% increase when compared to October of 2023.
The state collected approximately $2.35 million in privilege fees in the month.
The post Arizona Department of Gaming Releases October Sports Betting Figures appeared first on Gaming and Gambling Industry in the Americas.
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