In this exclusive interview, Dotan Lazar – Co-Founder & CEO of LSports, sits down with Maria Debrincat to discuss the changes that took place in the sports betting industry and what’s in store for LSports’ future
The past decade has been a very exciting one for the sports betting industry, and much of the modernisation that has taken place can be attributed to LSports. Take us through the journey of your very young, yet highly influential company and its major milestones.
The journey started from a very young company working with no employees and no income from the back of a garage. We took off as we started exploring the possibility of establishing a strong business based on clients’ needs.
We took a deep dive into getting to know the clients’ requirements and after listening to the issues of the market we developed a product suiting their needs. Fast forward from the garage, this year we signed multiple deals worth millions of dollars.
Building its presence within the North American market, LSports has been named the official data partner of the American Flag Football League (AFFL) in an exclusive data distribution partnership valued at $6 million. As part of the five-year alliance, LSports has gained exclusive rights to the distribution of the league’s official data.
We entered into a strategic data distribution and co-development agreement with the American Ultimate Disc League (AUDL), valued at $3 million which spans over 5 years.
The sky’s the limit here, all we need to do is listen, this is the secret of success. Listen to a problem and give your 100%. Aim for better! Better results, better relationships, always strive to be better than the person you were yesterday.
Recently LSports has announced a new exclusive product distribution deal with LVision. What does it include and why did you decide to take that step forward?
Lvision delivers super unique products to the market. They created a few innovative products like the BetBooster or the Betting & Animation Widget, with the use of sophisticated CV, ML, and AI algorithms.
We’ve long since realised that the betting industry is more than ready for enhanced user experiences. We want LSports to provide everything needed to satisfy the end-user, and with LVision we can achieve it.
The standout product from that deal is the BetBooster. How does it work and how will customers experience it?
The BetBooster’s entire purpose is to increase or boost your bets as it says under the name. The product itself is designed in a way that monitors and records the pattern behavior of the customers visiting your website: meaning, if you are a bettor and want to place a bet, the bet will know the patterns you used today to bet on various types of sports.
If you bet on tennis or on soccer it would know what you like to wager on. Each one of these patterns is being stored by AI and the machine automatically gives you recommendations according to your best behavior. We call this, personalisation and gamification.
We only give you what you need and what you like and eliminate the extra. We aim to extract the best for the customer.
From this personalisation, clients can expect at least 15% increase in GGR. This has already been witnessed by a lot of customers who have started experiencing the new product.
Such technology is unrivaled so far, so where is it going in geodemographic and developmental terms?
This is just the first phase.
The next level we are pursuing is machine learning which is the main part of the Betting & Animation Widget. The product analyses a specific streaming broadcast and translates it to insights about how much the player ran, how high was the jump in basketball, the speed of the ball in tennis, and more.
Tennis is already up and running, basketball is next, then American football and more. This is what customers, especially in the US where it is the main market, want and therefore this is where we will be focusing our efforts.
Recently you have signed an exclusivity agreement with AUDL and exclusive data distribution deal with AFFL. How has this impacted operations? Does this mean that LSports is now advancing in the American market (including LaTam)?
AUDL and AFFL deals are very much related. The concept is that we want to have more rights and more information about sports which is not mainstream today as we believe in the choice of the market.
It’s important for us to push various sports out there and make them more popular, offering the bookies something that no one else possesses. This is key as we want to be unique and innovative in the market we are in, and this is how we believe we can achieve this.
During the period when the NFL is not being played, the AUDL is taking place making this a great opportunity for us to give our customers more income as there is always something going on. Content is key to success. We get paid to deliver and this is how we do it.
What’s in store for the future of LSports?
We aim to keep buying rights and expand our coverage of exotic sports. We’re also working on upgrading our bet stimulation services and reaching more parts of the market. Risk management is another one of the main key factors we will be focusing on in the coming years.
Malta Week – Save the dates:
For the first time ever SiGMA Group is bringing its 4 leading shows together for the mother of all conferences. From the 16th to 19th November, SiGMA, alongside AGS and AIBC will bring the best in the business to a first-class meeting point. Join us for the 7th edition of SiGMA at the MFCC – Malta Fairs Conventions Centre, and explore how you can benefit from being a delegate, a sponsor, an exhibitor, or a keynote speaker.