The principle of sports betting is simple. You place a bet on a sports match. If your prediction about the result of the match is correct, you win. In most cases, you win money. If you fail to do the correct prediction, you lose the money you bet. It is simple, isn’t it? The trick to win is doing the right prediction, which is not so simple.
If you could process all the statistics about the teams playing, you could predict the result with accuracy. Imagine if you could take livescore together with statistics of all the teams and players. If you could make sense of all those data, you could win many bets!
Sports betting is one problem that seems perfect for artificial intelligence (AI). But, what is Artificial Intelligence? Well, it is a branch of computer science that is devoted to simulating the different processes of human intelligence. Hence, computers can simulate learning and reasoning, among other functions.
How Exactly Can AI Predict the Outcome of a Sports Match?
As it was mentioned above, predicting the outcome of a sports match boils down to analyzing data, tons of data! For example, to predict the result of a football match, one should analyze the following statistics:
- Positioning of each team in the general score table;
- Success/failure statistics of each player;
- Recent results of previous matches between the two teams.
All these data have to be processed skillfully with the clear objective of predicting the winner. In the field of artificial intelligence, many well-researched algorithms can perform this analysis. The prediction is more accurate if the players stay the same in all the statistics.
Are There Any Drawbacks to the Use of AI for Sports Betting?
It seems that winning at sports betting is much easier with the use of artificial intelligence algorithms. However, there are some factors that artificial intelligence cannot account for. For example, the motivation of a player can change from one match to the other. Family problems can lead to poorer performance, for example. This type of information cannot be fed to a computer.
Additionally, environmental factors like temperature and humidity impact on the performance of some players. While the weather is somehow predictable, including these factors in an algorithm would make the data analysis extremely complex.
Online sports betting has become very popular in the last years. This is why entrepreneurs are exploiting artificial intelligence together with other technologies to create solutions for this industry. For instance, a company based in the U.K. is using deep neural networks to predict the winner of football matches. However, they still need the input of some human sports analysts to make their predictions more accurate.
Hence, while artificial intelligence can be of great help, your experience and knowledge of the sport are still needed. The day artificial intelligence surpasses human intelligence is still far. At least this is true for sports betting.