AI Brings Old-School Systems to the Forefront
Football is one of the world’s most unpredictable sports, but with so many variables, it’s almost impossible to predict the outcomes of each and every game. However, the sport is now more data-driven than ever before, which has revolutionized the sports betting industry. As per Mercurius, the sector adopts a conditional probability approach that first came to fruition during the mid-18th century. Created by Thomas Bayes, Bayes Theorem is a principle that calculates a conditional probability based on prior knowledge. AI advancements now enable football betting platforms to integrate this theorem.
Aside from Bayes Theorem, multiple regression has also become paramount to sports betting in the digital era. Towards Data Science states that this concept creates system predictions with numerous independent variables. Combined with AI, this means that modern-day betting platforms can provide suitable odds based on prior knowledge from a specific fixture. In the NBA, Antonio Hill states that AI-powered systems predominantly use a team’s win percentages as the fundamental data point in regression analysis.
The Use of Predictive Analysis
It’s no secret that predicting the outcome of every football match is a near-impossible task. However, predictive data provides an educated insight into a likely result. Predictive analysis comes in various forms in the 21st century, with Dataconomy stating that the Poisson model has come to the forefront in recent years. In sports betting, this sees platforms calculate teams’ offensive and defensive strengths based on the number of goals scored and conceded in previous fixtures. The article highlights that this theorem uses that data to determine a game’s expected goals which, in turn, gives rise to a potential winner.
While football leads by example within the sports betting industry, it isn’t alone in turning to AI. As touched on above, the NBA also uses AI-driven predictive strategies, and such an approach is also becoming more common within the horse betting sector. Created by BRC IT Lab, the Beth prediction tool is a game-changing AI system that uses algorithms and filters to minimize betting risk and offer educated advice on future bet results. The tool advises on a range of events in the horse racing calendar, and it does so through its advanced prediction tool. By checking factors like track conditions and weather reports, Beth uses AI to recommend winning horses.
Taking Many Variables into Account
There can be no doubt that AI hasn’t created a more data-driven sports betting industry based on pre-existing mathematical theorems. While football is at the heart of a more statistical approach, other sports have followed suit. Predictive analysis is now of utmost importance, and that’s unlikely to change as AI’s role in sports betting continues to grow.
