Artificial intelligence plays a pivotal role in the realm of the sports betting industry. Its prominence stretches from the cradle of the biggest breakthroughs in the gaming leisure industry to the scope of sports predictions algorithms. This very statement poses a sizable challenge to the betting industry altogether. In the long run, artificial intelligence football predictor algorithms could change the way of betting by turning the sports betting the world on its head. Its basic task is to take the randomness out.
What is artificial intelligence?
Definitions of artificial intelligence may vary according to recent textbooks. These definitions vary along two main dimensions. The ones on top are concerned with thought processes and reasoning, whereas the ones on the bottom address behaviour. Also, other definitions measure success in terms of human performance, whereas another range of definitions measure success against an ideal concept of intelligence, which we will call rationality. The system is rational if it does the right thing. This gives us many possible goals to pursue in artificial intelligence. Broadly speaking, artificial intelligence is the science of simulating human intelligence, or teaching machines and computers to perform human tasks.
Artificial Intelligence Football Predictor
The usual process of any football prediction algorithm goes as follows. It looks for something in the past that has an effect on the future and applies a formula on it to make a prediction. Football predictor includes an Artificial Intelligence algorithm that calculates the real probabilities of all the football matches, compares them with the odds offered by the bookmakers and finds as many as possible value bets in order to invest and earn money betting.
Steps in calculating the probabilities of games using an Artificial Intelligence Football Predictor algorithm:
#1 Estimation of Real Probabilities
Algorithm analyses carefully football matches, obtaining many statistics and using Neural Networks that learns with this big data set, and estimates the real probabilities of all future matches.
#2 Calculation of the Minimum Profitable Odds
The method usually selects the soccer predictions for the teams that fulfil some requirements, and with the estimated real probabilities, it calculates the Minimum Profitable Odds in order to bet on those selections.
#3 Finding Inefficiencies in the Bookmakers
When the bookmakers publish their odds, the algorithm compares them with the minimum profitable odds and detects inefficiencies to bet on. These bets are also known as Value Bets of the day.
Big Data for Analysis
Big Data uses immense amounts of data that can help reduce our uncertainty as decided by the models we are using. The statistical theory says that statistical models can never eliminate uncertainty, but they can still reduce it significantly. As the number of relevant variables increases and as our range of data expands to include larger timeframes, your statistical models become less uncertain.
With machine learning, computers use learning algorithms to sort through massive amounts of sports data, relying on patterns instead of explicit instructions to make inferences and build increasingly complex mathematical models, which can then be used to predict the outcome of football matches.
Sports Analytics has surely already shaken the general sports industry and it is only a matter of time until it becomes a central topic in sports betting as well. Of course, sports have always been analysed by sports professionals, sports traders and sharp punters alike – however, not nearly at the scale and size it is being done today. Big Data technologies have enabled analytics companies to analyse vast amounts of data in various formats – not only text but also graphic and video. This has allowed the processing of very granular data such as player placement and movement and to put things in perspective not seen before. Every big football team nowadays has its own sports analytics department and models like xG (expected goals) have taken the industry by a storm.
Making Accurate Football Predictions
You need to understand that all possible events follow a pattern that can be studied. The thing with patterns is that they always repeat. By patterns we don’t mean that the same thing will happen over and over again, it just means that there is a reason for why things happen in certain ways. The world follows a logical process that we can identify to make better decisions. For as long as you know that getting hit by a car will really hurt, you will not step in front of a speeding car.
It’s pretty much the same with betting in football, but it’s a little more complicated. However, if you can figure out what factors are responsible for how a football match will turn out and you study those factors; well then you can very well tell how the match turns out. To make profits off of your analysis, you can make your bets according to the outcomes of your study.
Evidence presented throughout this chapter is overwhelming: AI is everywhere. It spans through every aspect of our daily life, even tiny and apparently insignificant ones. As for gaming leisure industry and AI powered betting advice, one cannot forsake or disregard the utmost importance of intelligent ambient. However, the betting blade cuts both ways, as researchers work to design artificial intelligence football predictor models capable of beating bookmakers at their own game – so do the bookmakers look for a way to stay a few steps ahead by using the same technology. Furthermore, these new models will surely make the sharp punter’s task of detecting value on the market more complex, but will also open up a whole realm of new opportunities.