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The sports betting industry has a future in using the artificial intelligence technology.

Artificial Intelligence (AI) and the Future of Online Sports Betting

            The use of artificial intelligence (AI) has been growing dramatically and more so in the online sports betting industry. For both sports betting companies and patrons, having the ability to predict the outcome of games is probably equivalent to acquiring the goose that lays the golden eggs.

             This is why many companies, as well as individual developers, are in the process of developing such applications. Here are some updates on how far the technology has gone and what its impact will be on the industry.

Artificial Intelligence Trends in Online Sports Betting

Predictive Algorithms/Models

            Developers have mainly focused on this approach. The main goal is to crunch the numbers using a predictive algorithm and come up with an intelligence-based prediction. We can compare it to trending algorithms used in trying to predict financial trends. The difference is in the data sets used for making predictions. For example, in football, we don’t just count scores but also assist passes, forced errors and other factors.

Data Availability

            A very important aspect of predictive programs is data. Obviously, the more data you feed your system, the more information it has to make a better prediction. This is why developers are putting great importance on this aspect of development especially for online sports betting where data can be up for grabs.

Human Swarming Intelligence

            A more recent trend in development is combining what technology we already have on AI with Human Swarming Intelligence. Human Swarming Intelligence simply put, is the use of a collection of human minds to analyze data. For instance, a company has recently been testing a system that uses predictive algorithms that crunch statistical data and combines this with collaborative feedback and predictions from sports fans. The results have been very promising.

            Wherever AI will take us, one thing is for sure, sports betting companies will greatly benefit from the technology. At the very least, companies can make better odds predictions in their favor earning them more money. For smoother transactions abroad, sports betting companies should also consider a payment gateway solution that supports several alternative payment methods.

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