Drive Revenues and Mitigate Financial Threats in Betting with AI

Radicalbit empowers betting operators and sportsbook to address financial frauds, enhance situational awareness, and generate value by offering an increasingly sophisticated user experience.

Today’s Betting is a New Ball Game

The betting industry is growing fast, with new players approaching offline and online and gambling all around the world. As the market volume increases, competition intensifies and new threats such as online frauds are proving to be a critical challenge for sportsbooks and users. At the same time, AI is offering new, exciting opportunities for companies to stay ahead of the competition, increase safety and drive profitability.

Global revenue of online betting market in 2027 (CAGR 8,54%)

%

Sport betting revenue share within the online gambling sector

%

Increase of suspected digital fraud in the global betting industry in 2021-2022

Key Challenges for the Betting Industry

Financial Crime

Cybercriminals exploit hacks or loopholes – such as multi accounting or arbitrate betting – for financial gain or data theft

Increased competition

New operators enter the market all the time, making it difficult for existing companies and sportsbook to stand out from the crowd

Reduced Situational Awareness

As complexity and volume increase, it becomes harder to monitor bets, adjust odds and overview financial exposure

Responsible Gambling

The whole industry is under increased scrutiny due to concerns about problem gambling and potentially harming behaviors

AI-Powered Solutions

Real-Time Recommendation & Addiction Prevention

User-generated data can be leveraged for upselling and cross-selling purposes. By combining AI with data in motion, Radicalbit enables real-time recommendation systems that suggest relevant bets based on a user’s activity and patterns.

The very same technology can be used to tackle problem gambling, e.g. monitoring and flagging harmfully repetitive behaviors in real-time. Companies can use this information to take actions such as delivering messages, reaching out to customers and suspending accounts altogether.

AI-based Fraud Detection

Thanks to the Radicalbit MLOps platform, it is possible to create AI-powered systems that learn from historical data to increase the accuracy of Fraud Detection for online betting. AI systems can indeed identify patterns and anomalies that are
nearly impossible to be discovered by humans or traditional rules-based
Fraud Detections system.

Moreover, out-of-the-box real-time drift detection functionalities allow identifying anomalous patterns and sub-par predictions as soon as they take place, thus prompting proper ML model maintenance. This in turn dramatically decreases the occurrence of errors such as false negative and positive, increasing the accuracy of the whole system.

Financial Exposure Dashboard

Radicalbit enables the creation of ad-hoc real-time dashboarding solutions that allow sportsbooks to monitor the financial exposure on a single or multiple events.

This greatly enhances situational awareness, supporting an effective adjustment of odds and cashout management to proactively limit the sportsbook’s financial exposure.

Want to learn more about the way in which Radicalbit enables the AI-driven evolution of betting?