AI in Sports Betting Industry
Every industry has remain untouched from the wonders of Artificial intelligence. And sports betting industry is no different. In the previous decade, when the data was insufficient and equipments were expensive, AI seemed like a daydream to many. Something next to impossible. But all thanks to the modern marvels, everything today has changed.
The big data revolution enabled thousands of companies to collect valuable data. And today, AI makes use of this data. Sports betting industry is also works the same way. AI renders valuable insights to bettors such as how the goal was scored by the player, the angle on which the shot was taken and what keys were pressed to place the bets.
Today, we have a goldmine of data. And this data is used by AI to learn, recognise patterns, solve problems and much more. The result? AI today is able to analyse various events during the match and learn the factors that lead to the losses and wins. This has also enabled AI to predict accurate result.
Benefits and Applications of AI in Sports Betting
AI is not new to betting industry, in fact, it has always been a part of it. Several professional bettors make use of AI to make sure they take maximum cash home. Soon the day will arrive when the AI will get clubbed with augmented reality.
Betting odds can be predicted and determined by data. The more access AI has to the data, more accurate are the predictions.
Increased Betting Opportunities
Betting platforms today also have access to abundance of data. This has opened doors to attractive odds, in-game betting opportunities, and simulation tools that have resulted in the hike of betting volume.
Punters can also predict the outcome on the basis of athlete data. Was the player tired? Stressed? Or was the shooting angle inappropriate? Though it’s extremely difficult to record the athlete data, new technologies that have recently emerged are making it possible.
Opening Doors for NewGamblers
AI when combined with VR can allow the industry to open doors for new and young gamblers. Today, most bettors belong to the age group of mid-thirties and late twenties. But, buy clubbing betting with betting with modern tech, this can be changed.
Optimised Game Designs
AI can help operators know what gamblers like, where they struggle, what stops them from placing the bets and what helps them. This data can also help game development companies to create better game designs according to the needs of bettors.
Several betting platforms have adopted automated KYC for risk management, better player onboarding, analysing transaction, detecting suspicious activity, sources of wealth and document collection. This enables businesses to streamline their activities while providing a safe and secure environment for their users.
AI can also read patterns and can help identify problematic gambling behaviours. This can help protect underage bettors and betting addicts while providing a secure and safe environment for the punters on the platform.
Personalized Betting Experience
AI can study user behaviour and can create betting experiences as per the preferences of the bettors. This includes showcasing their preferred betting styles, favourite games, betting markets, etc.
There is no doubt that AI has revolutionised the betting industry and several platforms have adopted AI to provide exceptional experiences to their customers.