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LSports and gripAI Launch AI-Powered Play Insurance for Sportsbooks Globally

Editorially reviewed by Lisa LustichLast review:
LSports und gripAI bringen KI-basierte Wettschutz-Versicherung für Sportwetten auf den Markt

LSports and gripAI have partnered to roll out their AI-powered 'Play Insurance' product to sportsbook operators worldwide. A significant 37 percent of players choose to purchase this innovative bet insurance.

A new development in sports betting is set to revolutionize the player experience: LSports, a provider of sports data solutions, has teamed up with gripAI to offer AI-powered "Play Insurance" globally. This product allows bettors to insure their wagers for a small premium, calculated in real-time by artificial intelligence. If an insured bet loses, players receive a refund. The refund amount depends on how close the bet came to winning, based on match statistics. It is no longer a traditional all-or-nothing bet.

Numbers and facts

The technology behind Play Insurance is complex and is driven by gripAI's patented pricing engine. This engine has been trained on over 2.5 billion bets. Premiums are calculated individually for each player and wager, taking into account live odds, the number of selections, and the customer profile. The product is also compatible with existing sportsbook features such as Cash Out, allowing players to cash out a bet while retaining their insurance.

Yoav Ziv, Chief Revenue Officer at LSports, emphasizes the importance of this innovation for customer retention:

"Retention is one of the hardest problems our operators face, and the near-miss is where they lose players. Play Insurance turns that exact moment into loyalty and a new revenue line, without giving anything away. It’s a genuinely new category, and pairing gripAI’s technology with our reach and our data gives operators something no one else offers today." - Yoav Ziv, Chief Revenue Officer at LSports

Statistics from LSports show the product's success: 37 percent of players choose to purchase insurance. Of these insured customers, 39 percent go on to buy the product again. This not only generates an additional revenue stream for operators but also significantly improves player retention.

Background

Tal Hayon, CEO of gripAI, highlights the fundamental change in the betting market:

"Betting has always been all-or-nothing, and that’s exactly what we set out to change." - Tal Hayon, CEO at gripAI

He adds: "Our AI prices protection fairly and instantly for every bet, and with LSports as our distribution partner, we can bring it to operators around the world at the speed the industry moves."

LSports is continuously expanding its business. This is evident from the signing of a multi-year deal with Caliente Interactive in Mexico. The appointment of Fernando Martinez as Vice President of Sales for Latin America less than a year ago also underscores this strategy. The company has expanded its presence throughout Latin America in recent years, for example, by entering the Peruvian market in 2024. Play Insurance will be distributed across LSports' global sportsbook network through a lightweight integration designed to help operators deploy the product quickly. This was also highlighted by iGamingBusiness.com, which reported that the integration into operators' platforms is "simple" and features a "lightweight setup" to get them live quickly.

Another topic related to sports data is the discussion about exclusive data rights. Dotan Lazar, CEO of LSports, criticizes the current practice in an interview, where large sports organizations sell exclusive data rights to a few providers. He considers this "monopoly being generated" unsustainable and proposes a market access model. Lazar argues that much data, such as that from the Premier League, is publicly available anyway, and no one can prevent LSports from using and processing it. He believes that leagues should hold the rights themselves and sell them to all providers to foster healthier competition and generate more sustainable revenue.

Why it matters for German players

For German players playing at GGL-licensed providers, the introduction of Play Insurance means a potential enrichment of the gaming experience. The German State Treaty on Gambling 2021 (GlüStV 2021) has introduced strict rules, including a gambling limit of 1 euro per spin on slot machines and a monthly deposit limit of 1,000 euros, which are monitored via LUGAS. These rules aim to protect players. Play Insurance, however, could introduce a new dimension of protection for betting stakes that goes beyond mere regulatory measures.

Providers holding a license from Germany's Joint Gambling Authority of the Federal States (GGL) are bound by strict regulations. It is conceivable that such innovative products may require additional approvals. If the GGL permits the introduction of Play Insurance, it could strengthen player confidence. The ability to receive a portion of the stake back, even in the event of a near miss, could make betting more attractive and less frustrating. German players are accustomed to a regulated and secure environment; Play Insurance would provide additional security in this context.

What it means for GGL-licensed casinos

For GGL-licensed casinos and sports betting providers, Play Insurance could represent an interesting opportunity to differentiate themselves in the highly regulated German market. Especially in the context of GlüStV 2021, which restricts many player freedoms, innovative approaches to increasing player retention and satisfaction are particularly valuable. The strict limits and protective measures in Germany may have unsettled or deterred many players. A product like Play Insurance could regain player trust and increase the attractiveness of the legal offering.

Operators must, however, carefully examine how such a product fits into existing regulatory requirements. The calculation of premiums and refunds, in particular, must be transparent and comprehensible to comply with German player protection provisions. Should the GGL approve Play Insurance, GGL-licensed casinos could tap into a new revenue stream while improving retention—an important factor in competition and under the strict conditions of the German market.

Sources & further reading

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