How AI is Changing Sports Betting For the Better
No matter where you are in the world, artificial intelligence is slowly getting integrated into our lives every day. Just as sports betting has evolved from the simple slip of paper in a betting shop, so has the way of technology. It’s technology to thank for the uprising in artificial intelligence, but it has also made sports and gambling a smoother and easier process. This adrenaline-fuelled sports betting industry is going through a monumental change, and it’s all powered by the strong and mighty AI. Data-driven precision was once used solely in tech and finance fields, but now, customer-first industries are adopting new strategies. In this blog, we will be diving into all the new facts about artificial intelligence and seeing just how betting is changing for the better. It’s never been easier to make smarter decisions in the sports world, and we’re here to show how data intelligence is helping you do it.
First off – what is artificial intelligence?
Artificial intelligence is known as AI, and it’s the technology that essentially gives a computer a “brain.” AI refers to advanced computer programs that have been trained and designed to help people make decisions and analyze data. They don’t just follow instructions: they can learn from experiences and previous outputs, thus meaning that they improve over time. Just as humans learn from their experiences and errors, AI programs are trained to alter their decisions to ensure that the next output is of better quality than the previous one.
To explain further, just think about if you were to teach a computer to notice something in particular in a photo. At first, the AI bot may not understand or know what this item looks like, but with enough feedback and imagery, it gets better in its output every time. The fact that it can learn and improve based on every interaction is what makes artificial intelligence so powerful – and why it’s able to now step into the mainstream as an important tool.
When we relate it to sports betting, it’s a whole new story as opposed to memorizing an image and giving feedback. For example, when we scour the NFL moneyline, we’re trying to make use of data that we may have gained from other sources, as well as our intuition and best guesses. But as humans, we have a pretty limited capacity in terms of analyzing statistics in our heads. When AI uses its learning power to trace and review game statistics of the past, it can help us make more appropriate decisions. This can help people make informed choices about their bets and basically allows them an in-house assistant, guiding them in everything they do.
Now, how is AI reshaping sports betting?
1. AI can predict outcomes
AI is now in a place where it can predict game outcomes based on analyzing data. It considers facts, statistics, weather, and performance of the game – and then gives an opinion that is more informed than the average person’s. AI can pick up patterns and trends that aren’t as noticeable to others, and therefore predict if a team is likely to grab the win.
2. Smarter bets
There are a few things that AI can help with, and spotting where to utilize it is important. Here are some simple strategies that AI uses when approaching sports bets:
Trendspotting – the AI notices a pattern in data that isn’t obvious to the human eye. It can calculate if a player is likely to get injured or if they aren’t playing as well as they should be – and then suggest a different bet either against or with them.
Team performance analytics: AI can see how a team is performing against a specific opponent – and weigh in factors such as weather and other attributes. These detailed insights help with your betting process.
3. Personalization and customization levels
One thing you miss out on with regular sports betting is personalization to some extent, yet AI is trying to fill this gap. AI can personalize your betting experience by analyzing your usual betting behavior and habits, to then offer recommendations to you as a customer. This can help people in the betting space feel more involved and therefore consider returning as a customer.
What’s next for AI in the betting space?
AI hasn’t been around that long but it’s already making huge waves in the sports space. It can understand real-time data now but it is always learning and evolving to get better. Soon, you will see up-to-the-minute recommendations and quick-fire bet options. This will dramatically improve your game experience in ways that you’ve never seen before. The more it continues to advance, the easier and more enjoyable your sports betting will be. The future is uncertain, but what we are certain about is that AI is the future – and we’re here to be part of it.