LSports to bring Play Insurance to sportsbooks worldwide

Sports data solutions provider LSports has partnered with gripAI to bring its AI-powered Play Insurance product to sportsbook operators worldwide.

The new product allows bettors to insure wagers for a small premium, calculated in real time, using AI. 

If an insured bet loses, players receive a refund based on how close the bet came to winning, with payouts determined using match statistics rather than a traditional all-or-nothing outcome.

Yoav Ziv, Chief Revenue Officer at LSports, said: “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.”

Powered by gripAI’s patented pricing engine, which has been trained on more than 2.5 billion bets, premiums are calculated individually for each player and wager based on live odds, the number of selections and 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.

Play Insurance is set to create an additional revenue stream for operators while improving player retention. 

LSports said 37% of players choose to purchase insurance, while 39% of insured customers go on to buy the product again.

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

“Our AI prices protect 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 continues to grow with LatAm focus

LSports said it will distribute Play Insurance across its global sportsbook network through a lightweight integration designed to help operators deploy the product quickly.

It follows the operator signing a multi-year deal with Mexico-headquartered Caliente Interactive, and comes just short of a year after it onboarded former Genius Sports figure Fernando Matinez as VP of Sales for Latin America.

The business has been expanding throughout Latin America in recent years, as seen by its move into Peru in 2024.