What emotion do you get when someone mentions artificial intelligence? Do you get the chills because you anticipate the army of highly intelligent robots taking over our planet, enslaving the entire human population in the future?
Maybe you belong to the group of enthusiasts who are thrilled with the vast benefits artificial intelligence could bring us and resolve some burning issues we are facing nowadays.
Whether you belong to the first or the second group, we must say that the future holds the answer and that the truth is somewhere between these two ideas.
However, there are some aspects of everyday life and the entertainment industry that can already profit from artificial intelligence, such as sports betting. The good news for all ardent sports fans who would like to profit from their love for and knowledge about a particular sport is that some computer specialists started using the power of algorithms and artificial intelligence to predict the results of various sports events more accurately.
We will try to explain in the simplest way possible what algorithms are and how they work in favor of sports bettors. Let’s start by explaining fundamental terms so that you can dig into the topic much more easily.
How Can Algorithms Help You in Sports Betting?
Algorithms are mathematical formulas that solve complex problems by using the available data. When you translate this into common terms and apply them in betting on sports, you can say that sports betting algorithms predict the outcome of a sports game by processing the valuable info related to that game.
This new technology is still taking baby steps in making predictions about the sports results and has to develop further, but it will revolutionize the entire sports betting market in the long run.
While you are waiting for the future to come, you can use an online betting blog as an undrainable source of information that can help you beat the odds at betting. We will now consider an example of two stats tools used to make it easier for bettors to try to guess the winning team in the American NHL.
Corsi and Fenwick — Familiar Terms in American Hockey
These stats tools have unusual names, but in fact, they deal with the essential part of every game. These two go by names of Corsi and Fenwick to honor the men that made them. It all revolves around the possession of the pack during the offensive team play. Corsi represents all the shots aimed at the opponent’s goal, while Fenwick counts only the shots that weren’t blocked either by the goalkeeper or the rivals’ defense; we can call them clear shots. For example, you have a team that had 28 shots on goal, and 5 went far away from the goal, while 10 were blocked. The Corsi here would be 43 while Fenwick would be 33. Let’s imagine their opponents have the following stats — 21 shots on goal, 6 that went far out, and 6 stopped. Their Corsi would be 33 while Fenwick would be 27.
The Corsi percentage shows the power of one team over the opponent. You calculate it by taking all the shots of one team, dividing that with all the shots in the game, and multiplying this result by 100. I know you don’t like hearing about maths, let alone doing it, but we are giving this example to clear things out. If we take the numbers from the example, we’ll get the following percentage:
This piece of Corsi stats shows that the first team played more aggressively, was in possession of the pack more, and made more attempts on the other team’s goal.
We did all the hard work instead of you, and now we can tell you the great news: You don’t have to bother with Corsi and Fenwick because they represent only a small part of the abundance of other significant info you need so you can predict the outcome. Although they may not have a major effect on your choice of who to bet on in an NHL game, they serve well as an example of traditional sports betting tools.
Now let’s see how advanced technology deals with the issue of gathering a lot of info and working it out to provide you with better odds and results predictions.
What Do Sports Algorithms Do?
You cannot rely only on fragments of useful stats info to determine the winner in the sports betting. We can say that successful sporting algorithms use a variety of significant details gathered from different sources and combine them with advanced technology to come up with highly precise results.
There is no talk about A.I. without mentioning machine learning. Machine learning creates a system that is capable of making decisions based on experience just like humans do. So machine learning algorithms are able to gather all the data needed, to “understand” them, work them out, and come up with the best solution.
We are going to introduce you to an artificial intelligence company called Unanimous AT that applies algorithms successfully in the field of finance and has started spreading its technology on the blooming sports betting market. They use a theory of swarming, that comes naturally to some wildlife species, to come up with the best decisions and predictions. They simply apply the principle so commonly used in nature where bees swarm and use their collective intelligence to make some essential decisions.
Because they truly believe that this principle leads to optimal results, they have created their Swarm platform where any online group that shares the same interests can now gather their ideas and use the gathered info to make decisions and predictions or give answers to some burning questions.
Let’s see how this works in making predictions of the sports events results, and how this new technology can start building a sports betting algorithm that you can rely on.
There is another round of English Premier League (EPL) coming up this weekend, on Saturday, April 12th, so the people from the Unanimous AI decided to gather a swarm of EPL fans and connoisseurs who used their knowledge, experience, and data to form a highly accurate forecast of the games’ outcomes. The huge advantage of their forecast is that it clearly states the winners in the upcoming games, while the betting sites provide bookmakers odds that only show which team is considered to be the favorite. Another huge advantage of the swarm forecast is that they advise you on how to treat your bets by separating the “best pick,” the “proceed with caution” games, and the “high-risk” picks that warn you of potential losses. You are left to decide for yourself whether you will trust these predictions.
We have to warn you here that the company’s terms and conditions clearly state that these forecasts shouldn’t be used for sports betting, but they can be a useful source of info that will help you decide who to bet on.
High Hopes for the Future of Sports Betting Algorithms
Strategem is a company that creates sports betting algorithms to predict the outcomes of the European leagues’ soccer games. As the company representatives explain, soccer games are easy to forecast because the time of playing is limited, the game has firmly determined rules, and it is repetitive. Thus it is easy to form a pattern that they then use, process it, and come out with the odds that will bring you an advantage over the sportsbooks.
They have devised a machine learning algorithm that can work with a massive amount of data, and their hope for the future is to create an algorithm that will provide real-time predictions in live games.
These are long term expectations, but rest assured that these sports betting algorithms are only going to excel which will result in an enhanced accuracy of their predictions. This means that they will gain more and more trust over the years.
While you are eagerly waiting for artificial intelligence to start helping you win tons of money at some online sports betting site, you can take some advice that can help you devise your own betting strategy. First, you need to take numerous factors into consideration, like the team performance, the best player’s form, the advantage of the home field, the betting rollover, and many others. Then you have to choose only high-quality data, so trust only the reliable sources before you decide to place your bet. Remember that the odds are always in favor of quality over quantity and good luck!
What Kind of Data Do Algorithms Need?
Sports betting algorithms are usually based on the history of events. What happened and how often did it repeat? That’s exactly the data needed to create a sports betting algorithm. Also, to make it more precise, you need that history in detail. So, not only you would assess the team’s performance, but also the individual performance of each player, what events happened and when if considering each game over a certain period of time. Then, the probability theory works like magic. Every software that presents these algorithms possesses their own very secret, long, and complicated mathematical formula – the algorithm for counting probabilities. This one should be very accurate. Before claiming that it works, they often test it by comparing the algorithm results to the old odds and the real outcome.
What Are the Advantages of Using Sports Betting Algorithm Software?
Honestly, random guessing or just betting on the team you like sounds like the worst methods of betting on sports ever. To really make money on sports betting, you need to secure the risks while also making sure that you bet on the event that is the most likely to happen. To do that, the sports betting algorithms perform complex calculations based on big data. A person is physically unable to perform the same task within seconds and with the same frequency. As a result, this software happens to be highly useful for making successful bets.
What Are the Alternatives to Using Sports Betting Algorithm Software?
One of the alternatives is to calculate and compare the odds yourself. The comparison lets you consider more honest odds than if you simply trust a bookmaker. Many websites give you that possibility by aggregating odds from different sportsbooks into one table, graph, or chart. You can pick an average or make a choice due to your specific calculations. But if you don’t like applying maths, just look at the history of events and try to see tendencies in there. For example, Manchester United is more often to make goals between the 10th and 20th minute of the second time. Therefore, you can bet on the probability of this event happening particularly in the abovementioned timeframe. However, another alternative to using sports betting algorithm software is to take a wild guess! Because no matter how big the industry of calculating odds is, there is always room for the sixth sense. And sometimes, it really works! So if you find yourself having a strong feeling of the event occurrence, why not take a chance and bet on it? Maybe the next morning you’ll wake up rich and famous!