Industry News
10star launches to provide a new, world-leading pricing, trading and risk management service to regulated betting markets
10star is a new, world-leading pricing, trading and risk management service for licensed sports, gaming and lottery operators. Using a bespoke suite of sports trading products, analytics and betting services, 10star is a breath of fresh air in an increasingly homogenised industry. Using a differentiating set of sports-betting methodologies and processes that use risk and customer information as an input to price generation, 10star provides operators with market-leading trading, made-to-measure pricing and optimised risk management that changes the mathematical equation on market exposure and risk appetite. This unique outlook enables 10star to generate alpha for sportsbooks, enabling them to out-perform in increasingly competitive global landscapes.
“The betting industry as a whole can no longer sustain the destructive cost of mass market engagement, especially against resounding evidence that it doesn’t deliver sustainable market share” says Magnus Hedman, Co-Founder and Chief Executive Officer of 10star. “Treating sports betting as content has set operators on an unwinnable race to the bottom, especially against the strength of macro-economic headwinds not seen for a generation. 10star is being launched in global markets to provide enlightened operators with the price differentiation and innovative risk management they need in order to drive increased profits, improved turnover, reduced volatility, operational efficiencies and tangible improvement of the bottom line.”
As 10star is built around an ethos of treating pricing, trading and exposure management as specialist functions, the brand will be going against the grain of the established trend of treating sports betting as “content”. The 10star service will embody everything associated with betting products and services designed to outperform the market to increase profits, drive turnover and grow market share. Markets are there to be made, not followed. Boundaries exist to be smashed, not to limit.
Industry News
Play’n GO Honoured at Corporate Star Awards Ceremony
Play’n GO, the world’s leading casino entertainment provider, was honoured as a global leader in Environmental Social Governance (ESG) practices at the prestigious Corporate Star Awards held in Amsterdam. The company was the only iGaming company shortlisted at the ceremony, and was nominated for the Best ESG Report award, placing it among renowned organisations such as Globo, EVS and SONY Entertainment, who won the category overall.
The Corporate Star Awards are known for recognising excellence in corporate reporting and sustainability, and Play’n GO’s nomination for the Best ESG Report Award is testament to its commitment to transparency and responsible business practices.
Play’n GO’s ESG Report provides comprehensive insights into the company’s environmental initiatives, social impact and governance practices, and showcases Play’n GO’s commitment to reducing its carbon footprint, promoting diversity and inclusion, and maintaining high ethical standards throughout its operations.
The Corporate Star Awards recognise organisations that go above and beyond in their commitment to ESG practices, setting a benchmark for corporate responsibility. Play’n GO’s inclusion among the shortlisted companies underscores its position as a global leader in the iGaming industry and its dedication to sustainable business practices.
Johan Törnqvist, CEO and co-founder of Play’n GO, said: “We are truly honoured to be recognized as a global ESG leader at the Corporate Star Awards. This nomination is a testament to our unwavering dedication to sustainability and responsible business practices. We believe that a strong ESG framework is essential for the long-term success of any organization, and we are proud to be at the forefront of this movement. We look forward to participating in next year’s awards, and to furthering our own ESG initiatives.”
Industry News
Amusnet Releases Speed Baccarat, a New Addition to its Live Casino Portfolio
Amusnet is presenting its newest Live Casino release – a fresh look and feel for a true casino classic that has become one of the most popular card games – Speed Baccarat.
The latest addition to the company’s portfolio mesmerises with Asian elegance and promises a lifelike gaming experience to anyone who wants to have a taste of this all-time casino favourite. Fast rounds are available, which adds to the excitement and thrill which the game brings.
Amusnet’s Speed Baccarat is played with eight standard decks of 52 cards, and it is available 24/7 with a live dealer hosting the game. It offers immersive real-time streaming with ultra-low latency. The objective of this Live Casino game is to predict the winning hand closest to 9, which could be the Player’s hand, the Dealer’s hand or there could be a Tie.
A variety of Main bets and Side bets is available, along with several in-game features to guarantee an engaging and thrilling gameplay, such as Re-bet, Double the Bet, Scoreboards and Game Statistics. A live Chat is also at players’ disposal, providing them with the chance to communicate with the dealer and the rest of the players.
Jackpot Cards
The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.
Industry News
A deep dive into generative AI
Nick McDonald, Account Director at Fujitsu, takes a closer look at the revolutionary technology and says it should not be feared if used in the right way.
The topic of AI is dominating conversations across the industry right now.
Businesses understand that it can have a seismic impact on all aspects of their operations, from internal processes and procedures to the solutions, tools and services they provide to customers.
Of course, that impact can be both positive and negative, and while there has been a lot of hype around the potential of AI concerns have been raised, too.
This has left many organisations – and, indeed, the global markets – a little nervous about AI and unsure how they should approach the technology.
It’s important to understand there are different types of artificial intelligence, with each type having its own use cases. This includes but is not limited to:
- Narrow AI
- General AI
- Super AI
- Reactive machines
- Limited memory
- Theory of mind
- Self aware
The category of AI that most are interested in is Narrow AI and in particular, the Generative AI that sits within this category of artificial intelligence.
But what do we actually mean by Generative AI?
Generative AI – a simple definition:
Generative AI can create new data including texts, images, videos and more. It does this by learning the structure and patterns of its training data to generate new ideas with similar characteristics.
It can be training to understand human language, programming languages, art, chemistry, biology, law and countless other complex subjects.
Large AI models power Generative AI. Often referred to as foundation models, they can perform a wide variety of tasks including summarization, classification and answering queries.
This makes it ideal for things like chatbots, creating media assets, design and product development.
ChatGPT catapulted Generative AI into the mainstream:
ChatGPT is the most well-known example of how Generative AI can be used.
Its rise has been nothing short of meteoric, reaching 100 million users in just two months (Facebook took 54 months to reach the same milestone).
ChatGPT is essentially a chatbot that runs on the foundation of large language models (LLMs), trained on vast amounts of data to produce texts that humans can understand.
Users ask a question and ChatGPT breaks down the query into smaller components to analyse their meaning and to determine what the user is really asking it to do.
It then returns words and sentences it predicts will base answer the query, based on the data it has been trained on.
Generative AI – the risks:
While ChatGPT may seem like a useful tool that, if nothing else, is great fun to use, it also highlights some of the concerns surrounding Generative AI.
This includes the accuracy of the outputs being generated, inconsistent output, bias, a lack of explainability and even threats to security, privacy and intellectual property.
There’s a growing number of examples of people using tools like ChatGPT and finding themselves in hot water but one of my favourites is that of a lawyer who used it to search for legal precedents in a case they were working on.
The lawyer typed their query into ChatGPT – thankfully being smart enough to not include specific information about the case – and it returned information showing that there were legal precedents.
They then instructed ChatGPT to compile the information in a document to submit to the court.
The issue was that the information ChatGPT returned was false, something the judge picked up on after reading the document submitted by the lawyer and undertaking their own research into the legal precedents presented.
When the judge was unable to find any such cases, they put this to the lawyer who came clean about using ChatGPT to search for legal precedents, but then not checking what it returned.
The lawyer was ultimately struck off – the best possible result because had they included information about the case in their ChatGPT search, they would have faced a lengthy prison sentence for breaching confidentially.
This is because ChatGPT is a public service that consumes information as well as shares it.
Don’t fear Generative AI:
But this shouldn’t stop organisations from embracing the power of Generative AI and the clear benefits it can bring to their operations.
From streamlining game development to improving customer support, there are many ways online gambling businesses can harness its potential to drive growth.
The way we have gone about this is to create a chatbot similar to ChatGPT that organisations can use with confidence. It works similarly to ChatGPT but instead of using publicly available data, it sits on top of the company’s data warehouse.
This allows teams and employees to ask questions and queries and have answers generated based on the proprietary data that foundation models have been fed on.
This data can be siloed within the warehouse, with individuals and teams given specific levels of access – the marketing team doesn’t need to be able to ask questions of the same data sets as the CFO and CEO, for example.
The use cases for a Private GPT are endless but include being able to ask any question, chat with company data, find new answers and insights, foster deeper collaboration, jointly generate insight and evaluate results and decision support systems.
Of course, this is just one way that Generative AI can be used but demonstrates how its capabilities can be harnessed safely and without any negative repercussions.
But as the industry gets to grips with the technology, many more will emerge and undoubtedly change the game for all stakeholders.
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