sportsbook Archives - 1Stop Translations

AI algorithms for improving odds’ accuracy

One of the most important aspects of the sports betting business is the calculation of betting odds. Betting odds are the numerical expression of the probability of an event happening, such as a team winning a match or a player scoring a goal. Betting odds are also the basis of how much money a user can win or lose from placing a bet.

Calculating betting odds is not an easy task either. It requires a lot of data analysis, statistical modelling and human expertise. Moreover, betting odds need to be constantly updated and adjusted, as new information and events can affect the outcome of a match. This is where generative AI can help.

AI algorithms for improving odds' accuracy - 1Stop Translations

How to use AI algorithms for improving odds’ accuracy

Generative AI can use deep learning algorithms to process large amounts of data, such as historical results, player performance, injuries, weather and more, and generate accurate and dynamic betting odds in real time. Generative AI can also learn from the feedback and behaviour of users and optimise the betting odds to maximise the profit and satisfaction of both the service provider and the user. It’s a win-win.

Sports betting chatbots and content

Another aspect where generative AI can be useful to you is the creation of AI-enabled chatbots and content. Chatbots are software applications that can interact with users via text or voice, and provide them with information, assistance, or entertainment.

Generative Artificial Intelligence can create chatbots and content that are tailored to the needs and preferences of the user and enhance their experience and engagement with the sports betting service. For example, generative AI can create a chatbot that can answer a user’s questions about betting rules, available matches, best bets or simply the latest news.

Sports betting chatbots and content - 1Stop Translations

AI chatbots can simulate human-like conversations

It can even create a chatbot that can interact with users to talk about their favourite teams, players or sports, and provide them with personalised tips or fun facts.

As for content, generative AI is capable of creating any form of media that can attract and retain users, such as articles, blogs, podcasts, videos and more.

Personalised sports betting tips and experiences

It should come as no surprise that generative AI also works wonders for personalising the sports betting experience by customizing the products and services to the individual needs and preferences of the users, such as their location, language, interests, goals, or behaviour. This process can improve user satisfaction, trust, and loyalty, and increase the revenue and growth of the service provider.

For example, generative AI can create a personalised dashboard that shows a user the best matches, bets, and odds for their favourite sports, teams, or players. It can also create a personalised newsletter that sends a user the latest news, updates, and promotions that are relevant to their interests and goals.

Generative AI can even go so far as to create a personalised assistant that guides a user through the betting process and provides them with smart and timely advice on how to place the best bets, manage their budget or avoid common mistakes.

Personalised sports betting tips and experiences - 1Stop Translations

Personalization in sports betting is a major factor operators should embrace in providing a positive customer experience

However, personalisation is not only about the content but also about the context. To provide a truly personalised user experience, you need to consider the cultural and linguistic aspects of their users, especially if you operate in different countries or regions. This is where professional sports betting translations and iGaming localisation come into play. Professional translations and localised translations are essential to ensure the quality, accuracy, and relevance of your products and services, and to maximise user engagement and trust.

If you are looking for professional sports betting translations and iGaming localisation services for your sports betting business, consider 1Stop Translations. At 1Stop Translations, we specialise in the creation of multilingual content dedicated to the iGaming industry, such as sports betting sites, iGaming platforms and online casinos.

Whether you need to perform iGaming localisation or translate your website, app, chatbot or your marketing materials, 1Stop Translations can provide you with the best solutions for your sports betting business. Contact us today and get a free quote for your project.

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24 August 2023 Admin Newsbets, regulations, sportsbook

The new sports betting regulations shaking up Brazil’s iGaming sector

When Brazil wrote a new set of sports betting regulations in 2018, this type of gambling was illegal under national law. In late July 2023, that changed, as President da Silva finally turned the bill into law.

4 minutes – read

The new sports betting regulations shaking up Brazil’s iGaming sector - 1Stop Translations

The decision came after a massive match-fixing scandal, in which players were offered up to 20,000 USD to give away penalty kicks and purposefully earn yellow cards. This scandal allowed gamblers to increase their wins on gaming sites. The new gambling regulations are designed to offer legal protection and prevent betting companies from profiting from match-fixing.

The 2018 legislation didn’t have comprehensive regulations, and much of the language used was unclear. This issue has been resolved. More importantly, the amendment now defines how fixed-odds income should be allocated.

Marketing and advertising restrictions

The new law requires gaming operators to encourage responsible gambling in Brazil and prevents bookmakers from acquiring the right to broadcast sports events. Sports betting translations will need to incorporate this requirement, as bookmakers scramble to promote healthier betting habits. The National Council for Advertising Self-Regulation will manage compliance. A self-regulation board will slowly establish gambling regulations governing the ethical standards of sports betting advertising.

The task force was created on 27 July 2023, but sports betting enterprises have already been barred from buying streaming rights for local sporting events. Existing legislation already forbids gambling advertising to promote illegal activities, but the definitions for “responsible gaming habits” have yet to be created. Unlicenced gaming ads will likely be banned in sports betting digital marketing, but it’s still too early for any certainty.

Marketing and advertising restrictions - 1Stop Translations — The new law requires gaming operators to encourage responsible gambling in Brazil

International operators have already started rolling out adverts and sponsorships despite their lack of licences. This has occurred despite the fact that Brazil has already banned businesses from sponsoring teams, competitions, and sporting bodies unless they have established headquarters in Brazil.

Brazil’s sports betting law and taxes

Federal Law No. 13,756/2018 will, for the first time in Brazilian history, allow fixed-odds betting so that bookmakers can share the odds of sporting outcomes. This provisional action will also make gambling a taxable matter. Bookmakers will be required to pay a 18% tax on all Gross Gaming Revenues. The Ministry of Sports’ revenue will increase from 1% to 3%. Licencing costs will also rise exponentially from the previous amount of 22 million R$.

In the past, Brazil’s sports betting regulations have provided few resources to manage a healthy gambling space. Sports betting taxes will fix the problem and will be managed as follows:

2.5% will go to the National Fund for Public Security
Sports clubs will receive 1.6%
10% will be funnelled into social security
1% will go to the Ministry of Sports
The last 0.8% will be spent on sport initiatives

Brazil’s sports betting law and taxes - 1Stop Translations — Federal Law No. 13,756/2018 will allow fixed-odds betting in Brazil

The gambling regulations will also prevent bookmakers’ staff, athletes, and other influential parties from betting. The Ministry of Finance will oversee sports betting regulations, licencing, and advertising.

A true revolution for the LATAM gambling sector

The new taxation is expected to raise 423 million USD for the Brazilian iGaming sector, but it remains a provisional measure. The government will need to renew it after 60 days. However, the taxes will raise enough funds to punish match-fixing.

Gambling has never been this safe or controlled. The legalisation of fixed-odds sports betting is a game-changer for both sport fans and betting houses. Its revenue potential has been unleashed, and it’s sure to drive massive economic growth.

A true revolution for the LATAM gambling sector - 1Stop Translations — The new taxation is expected to raise 423 million USD for the Brazilian iGaming sector

Sports betting houses are still expecting a more transparent, comprehensive set of laws, which will guide sportsbook translations and marketing material.

Expanding your opportunities

If you offer sports betting services, you’re probably coming to grips with what the new legislation means for your business. You just need to look at the USA to get your answer. Within a year of sports betting legalisation, gaming revenue increased to 41 billion USD. Casinos could expand while unethical, poorly-managed gambling houses went out of business. Competition heated up, and access to gaming grew. Some casinos won, and some lost this challenge. If you offer gambling in Brazil, you’ll have to choose your outcome.

As the government issues licences for offline and online gambling, you will, at last, be able to capture foreign revenue. The sports betting market is expected to rise to 44 billion USD. This sector is experiencing an annual growth rate of almost 10%. Diversifying your audience will build stability and push up profits, so this is the time to update your site and sportsbook translations.

A massive growth spurt is on the way. Brazil’s sports betting market is expected to have an annual growth rate of 33.60%. By 2027, it will reach 2.1 million users. Improved regulations might even give local brands a competitive advantage against offshore operators. The government hasn’t brought action against those operators in the past, but burgeoning taxation could give it the funds to do so.

The laws that govern gambling in Brazil might have been updated, but they’re still incipient. As the months go by, legislation will be tightened and amended. Even so, 2023 is a crucial year for casinos. With a market that just became wide open, sports bookers can finally race ahead.

If you’re ready to benefit from the upcoming revolution, contact us to discuss your content needs.

Do you need help to get started or to further your existing link building strategy? Contact us for a free advice or request a video call with our experts.