As artificial intelligence continues to completely change the way millions of fans interact with live sporting events, a platform is introducing an innovative approach to monetization.
Technology company Play Anywhere has developed a proven track record of increasing fan engagement and creating new revenue streams for its partners. The technology can be seemingly integrated into mobile devices, connected televisions or various streaming devices.
For instance, a particular sponsor or advertiser may require an on-screen click-to-purchase option for merchandise during an NFL game, or a company could discover that fans are seeking a more tailored and personalized experience. In either instance, Play Anywhere's technology is well-versed in creating revenue paths.
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The emergence of more and more AI-powered technologies has opened the door for a whole new experience for those who decide to partake in sports betting.
Machine learning algorithms can be leverage to allow various sportsbooks to analyze a given bettor's patterns and interests to show them personalized recommendations. As a result, users are given a variety of new tools that they otherwise would not have without the technology.
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The Play Anywhere platform is also optimized for integration with a wide variety of sportsbooks, giving users the ability to make same-screen bets in real time. Play Anywhere CEO Yaacov Ben-Yaacov said the company is essentially bringing companies into its revenue ecosystem.
"It is a global exclusive deal across all mediums," Ben-Yaacov said in a statement to Fox News Digital.
"That means, if anyone wants to do interactivity, they must put the Play Anywhere compliance and accounting platform in. You can now have these rights at no extra cost, and here’s the way you can implement them. It’s about creating an ecosystem."
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When media-rights holders use the Play Anywhere platform, they are quickly given the ability to offer significantly enhanced viewer experiences.
"We defined a new rights package called Interactive Rights," Ben-Yaacov said. "It basically includes live, VOD (video on demand) or highlight clips coupled with contextual or interactive ads that allow betting or purchasing or have QR codes. We allow the rightsholders to have those rights, but we define the compliance layer, who gets the money and so forth."
AI-powered algorithms have the ability to analyze a live sporting event in real time and quickly adjust to give bettors the most up-to-date and dynamic experience possible. Often, traditional methods do not always necessarily provide bettors with the opportunity to place wagers on specific outcomes as a game unfolds.
When enjoyed in moderation and when spending limits are put in place, sports wagering gambling can be a fun and exciting way to enjoy a game. However, it is important that players are aware of the importance of responsible gambling.
Sports leagues' fundamental views as it relates to interactive rights are essential. Ben-Yaacov says interactive rights should be held in the same regard as traditional media rights.
"In the same way that they had to put DRM onto streaming, they have to put compliance and accounting onto interactivity," he said. "The good news with Play Anywhere is, they’re not going to be charged up front like they are on a DRM platform. And, since the league is in the same interactive bucket as the rightsholder, the rightsholder gets a cut of revenues."
