NEW YORK, NY / ACCESSWIRE / March 8, 2018 / Newgioco Group, Inc. (OTCQB: NWGI) ("Newgioco" or the "Company") a leisure betting technology company providing regulated lottery and gaming products and services through licensed subsidiaries based in Europe, is pleased to announce the launch of CHATBOT, its first phase of Artificial Intelligence technology incorporated into its leading-edge ELYS betting platform by Odissea.
CHATBOT is a revolutionary AI betting technology using customized pattern recognition and machine-learning algorithms to determine the relevant features of customer interactions and to develop a comprehensive customer betting profile. CHATBOT learns quantitative relationships between betting odds to automatically create effective play options for the customer. CHATBOT technology is built into ELY's extensive betting modules and will be phased in for automated odds determination across multiple events, which will represent a fundamental paradigm shift for generating betting odds compared to existing manual and automated methods.
"With CHATBOT we have developed a machine-learning engine for ELYS that automatically learns from previous customer behavior and could autosuggest the most effective play for our customers," explains Company Chief Technology Officer, Luca Pasquini. "ELYS now learns to model betting patterns and probabilities related to the player's historical behaviors, while requiring minimal upfront preparation or user interaction. We believe that both the cost and time savings for customer acquisition from this breakthrough technology will be immediately realized."
"CHATBOT is a powerful, indispensable customer service tool designed to offer valuable user functions such as detailed data, odds updates, results, and news, and represents a disruptive technology edge for the Company in the highly competitive global online betting space," stated Michele Ciavarella, Company Chairman and CEO. "With many more challenging in-game sports betting events being offered, customers are demanding useful, sophisticated applications and highly entertaining experiences from their sports-betting provider. These customer-centered technology demands are driving Newgioco's 2018 product code programming initiatives. We expect to have an exciting lineup of these new technology features along with further developments in business intelligence, customer relationship management and comprehensive blockchain code launched throughout 2018."
About Newgioco Group, Inc.
Newgioco Group, Inc., together with its subsidiaries, is a fully integrated, licensed gaming technology company. The company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in Italy.
The company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, lottery, interactive games, and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. Additional information is available on our corporate website at www.newgiocogroup.com.
Investors may also find us on Facebook® and follow us on Twitter @NWGI_gaming.
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "forecast," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based on currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements.
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Newgioco Group, Inc.
SOURCE: Newgioco Group, Inc.