LSports partners with gripAI to launch Play Insurance
Summary
LSports has partnered with gripAI to launch a new play insurance product aimed at bettors, focusing on enhancing player retention in sportsbooks. This initiative is part of a broader trend where data providers like LSports are integrating third-party AI tools to diversify their offerings. The innovation specifically leverages AI to develop per-bet insurance products, which refund bets on near-miss outcomes, thereby improving engagement and revenue for operators.
Analysis
gripAI: gripAI specializes in AI-powered tools designed for the sports betting industry. It developed Play Insurance, an AI-driven bet protection product that calculates premiums in real time based on live data and player activity, directly enabling the launch announced in the news. LSports: LSports delivers real-time sports data and technology solutions tailored for sportsbooks and iGaming operators. In this news, LSports is partnering with gripAI to integrate and distribute the new Play Insurance product across its sportsbook network. Partnership Model: Data providers like LSports are expanding their offerings by incorporating third-party AI tools to deliver new revenue and engagement features to operators. Product Innovation: AI is being applied to create per-bet insurance products that refund near-miss outcomes to improve player retention in sportsbooks.
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