AI and Sports Betting
How to use AI to make better betting decisions
Artificial Intelligence in Sports Betting: What Is It, and Does It Work?
Artificial intelligence (AI) has been making its way into the world of sports betting for quite some time now. A lot of people are still unsure about the outcomes that AI will have on the industry going forward. Some even see it as a threat, others as an opportunity. Whichever view you have, this article will give you a better understanding of artificial intelligence in sports betting and its current state of development. A lot of people see AI as a threat because people imagine that computers will soon be in charge of all of the analysis, statistics and odds-taking responsibilities that people currently do. But, much of what is considered AI is already being used in sports betting. Whether it is using machine learning or using predictive analytics, both of these areas are already being used in the industry. The only thing that is changing is the sophistication of the tools being used. So, let’s take a look at what artificial intelligence is and how you can use it in order to make profitable betting decisions.
What is Artificial Intelligence?
Artificial intelligence is the ability for a machine to behave and make decisions like a human. Essentially, it is the software that powers sports betting analysis and statistics. It is software that analyzes data, learns from its mistakes and improves over time. It can then make predictions based on the past data it has analyzed. It can help you make better betting decisions, choose the right sports to bet on and most of all, it can accurately determine the profitability of certain outcomes. And that's exactly what Sports AI can offer you.
How is Artificial Intelligence Being Used in Sports Betting?
Our machine learning algorithms use historical data collected from several sources to make betting decisions. For example, a lot of the data points relate to the current form of the team/players and this then compared to the opponents current form. These days, all aspects of a sports event are being tracked and recorded, so that you can feed your machine learning models with this information. As for neural networks, which are a certain kind of machine learning model, they get more precise the more data they are fed. Thus, with thousands of sports events happening on a single day, the full potential of our models has not yet been realized. The result of these models is that they can predict the probability of certain outcomes accurately enough to make a profit. Currently, Sports AI offers predictions for the moneyline, the asian handicap and the totals market.
Can Sports AI make sports betting profitable?
Definitely yes. If you are following the strategies and rules being discussed in this blog. In the end, it's all about the prices that are offered to you. If you approximately know the probability of a certain outcome, you can also determine a fair price for that outcome. A classic example for that is a coin toss with fair odds of 2.00 (2.00 = 1/0.5 with 0.5 being the probability of the outcome). If you now get a price above these fair odds of 2.00, you have successfully found a thing called value bet. The value results from the fact hat odds above 2.00 are overpriced. Applied to the coin toss example it means that if you for instance get odds of 2.10 for a betting on heads, you will in the long run pretty sure make some decent profit.
The Benefits of Using AI
The advantages are obvious: AI can help you determine the outcome probability of certain events and therefore ca help you to find value bets in a matter of seconds. Gone are the days of investing endless time in researching stats for betting purposes. Now, you can use Sports AI and get the outcome probability for hundreds of events for numerous sports every day. You can refer to Sports AIs profitability reports in the blog section for a proof of the accuracy of our predictive models.
AI has been used in sports betting for quite some time now. It can help you choose bet that are valuable, reduce your betting mistakes and cut back on betting that you don’t need to do. All of these things make AI a worthwhile investment for any sport bettor who is looking to make money and stop loosing it.