In the fast pace of life, many new technologies are emerging and making a strong position globally, including Artificial Intelligence. AI has emerged quickly and dominated almost every sector, such as banking, industries, and others. Furthermore, the demand for AI has been noticed in sports, too, especially the bettors access this utility to place a bet on the sports. It provides accurate game statistics and fetches an enormous amount of data relevant for sports betting. Now, let’s see all the aspects of AI and its usefulness in sports betting.
In sports betting, the prediction relies on various factors, such as the player’s stats, team’s home and away performance, winning percentage, and others. To cover all these factors and present them in a single frame via mathematical calculation was a tough job for the bettors. On the off chance, if someone covers all the aspects and comes to the prediction, it is not sure that the probability will reach 1.
AI has a unique algorithm that gives the near prediction of the winning team. To perform this task, AI collects comprehensive data in no time, covering the past performance of the teams, players’ stats, etc., and then fetches the prediction of the game. In short, it simplifies most of the manual work and enables the bettors to place the bet on the winning team.
AI’s suitability for the highly competitive gambling space would appear to be noticeable. Nick Cockerill, vice president of product at sports data and analysis provider Stats Perform, acknowledges that the adoption of AI in sports betting is currently a reasonably slow burn.
However, the direction of the sector suggests it is only a matter of time before it becomes a central tool in the battle for market share.
In practice, AI can potentially assist operators at various steps of the broader sports betting journey, not just at the stage where a bet is placed. Creating engaging content such as automated facts, articles, insights, highlights, and footage is possible, although some of the approaches are “still in their infancy”, Cockerill says.
AI can also provide a simple instruction to an operator to send a particular type of message to a specific kind of customer via a specific channel at a certain point in time. Or it can be used potentially to ensure an even more tailored approach at the sportsbook website’s ‘front door’.
“AI will help to make micro adjustments to the customer experience,” Cockerill says. “It can take out a menu that isn’t needed, for example, or remove certain markets from the screen that are irrelevant to the user. It can support a more recreational betting experience.”