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NBA Unveils AI-Driven Startup in Collaboration with Predictive Analytics Firm nVenue

The National Basketball Association (NBA), has invested in the predictive analytics company nVenue, aiming to revolutionise the sports betting experience. The investment, overseen by the NBA's capital investment division NBA Equity, seeks to enhance sports betting through nVenue's advanced predictive analytics platform for live sports. This partnership also brings Scott Kaufman-Ross, the NBA's Head of Gaming and New Business Ventures, onboard as a board observer, as per reports. This collaboration signifies the NBA's dedication to exploring innovative approaches in the evolving landscape of sports betting.

nVenue boasts its proprietary Sports Machine Learning and AI Algorithms, seamlessly processing data from various games and sports. The company, comprising machine learning engineers, product experts, and brand builders, completed the NBA Launchpad program in 2023. Recognised by the NBA's experts, nVenue emerged as an enticing investment opportunity for launching custom sports betting offerings. The firm plans to introduce new basketball micro-betting markets, all licensed to sports betting operators.

Utilising the NBA Launchpad program, nVenue collaborated with the NBA to create new bets now available to players. Among these innovations is the 'race to 15 points' wager, commencing at 0-0 when the bet is placed. Additionally, nVenue tested an 'individual player race to seven points' bet and the 'most team points scored in four minutes' wagering product during the international NBA League Pass coverage in June 2023.

CEO Kelly Pracht revealed that nVenue conducted a quiet international pilot program during the summer, recording 70,000 active user sessions. Each viewer placed an average of four 15-point race bets per game, resulting in a 45-60% higher viewing time compared to passive viewers, as reported by SBJ. This collaboration with the NBA marks a significant milestone for nVenue, aligning with the company's partnerships with Apple TV+ and NASCAR.

Kaufman-Ross expressed enthusiasm about the partnership, highlighting how micro-betting could enhance fan engagement within live games. Given basketball's rapid pace and constant action, he emphasised the need for personalised opportunities tailored to how fans consume the game. The collaboration between the NBA and nVenue signifies a step forward in exploring innovative sports betting possibilities.


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