How Technology is Changing Sports Betting

[nitrobetting]

Top 4 Technological Advancements for Sports Betting

Bitcoin and behind the scenes blockchain technology

We should start with the most obvious and most important advancement, how we manage our betting dollars. When we wager in old school, traditional, currency like dollars we must often use a middle person.

In this case, that middle person is almost always a credit card company. However, when we wager in bitcoin, we use peer-to-peer, decentralized technology, that allows us to bet in mBTC, a thousandth of a bitcoin.

Bitcoin uses proof of work, which makes it ultra secure. Not only that, but advancements in blockchain technology, protocols like PraSaga have solved the trilemma – – a blockchain that’s decentralized, scalable, and maintains proof of work-like security, means advancements in bitcoin and blockchain betting will only increase.

Sports betting AI

We add a question mark to number two. Eventually, AI will get so advanced that an artificial intelligence program should allow sports bettors to quickly identify bets with the highest probabilities of scoring wins.

Ah, but what’s good for the sports bettor is good for the sportsbook. Sportsbooks won’t ever shut down wagers on AI driven bets one-hundred percent, but they may request a larger vig, more juice, to place bets on AI driven options.

So AI driven options may present a double-edged sword. All advancements in all technology isn’t always the best thing. Sharpening your handicapping skills will always be the best option to finding winning wagers because AI will never develop sports betting intuition.

Advancements in sports betting acceptance

Acceptance isn’t exactly a technological advancement. But it qualifies for this list because it’s a major advancement in online sports betting.

U.S.-based organizations like DraftKings and BetMGM have opened the door for sports betting as a viable, accepted, form of entertainment. However, organizations like DraftKings and BetMGM are running traditional operations, meaning they are as centralized as a brick and mortar Vegas sportsbook.

To get true decentralization, to have the power of a sports handicapper in your hands, you must use a bitcoin and blockchain sportsbook.

Read more→ https://n2g.io/e622977

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Sports betting AI

We add a question mark to number two. Eventually, AI will get so advanced that an artificial intelligence program should allow sports bettors to quickly identify bets with the highest probabilities of scoring wins.

Ah, but what’s good for the sports bettor is good for the sportsbook. Sportsbooks won’t ever shut down wagers on AI driven bets one-hundred percent, but they may request a larger vig, more juice, to place bets on AI driven options.

So AI driven options may present a double-edged sword. All advancements in all technology isn’t always the best thing. Sharpening your handicapping skills will always be the best option to finding winning wagers because AI will never develop sports betting intuition.

Advancements in sports betting acceptance

Acceptance isn’t exactly a technological advancement. But it qualifies for this list because it’s a major advancement in online sports betting.

U.S.-based organizations like DraftKings and BetMGM have opened the door for sports betting as a viable, accepted, form of entertainment. However, organizations like DraftKings and BetMGM are running traditional operations, meaning they are as centralized as a brick and mortar Vegas sportsbook.

To get true decentralization, to have the power of a sports handicapper in your hands, you must use a bitcoin and blockchain sportsbook.

I was just wondering how cool it would be when an AI would do the data analysis work. Imagine it analyzing the data and picking up the best odd for a bettor. There is a possibility that an AI could outrun a human being in those spaces and they might excel in it. But, we cannot ignore the fact that a sportsbook won't work on improving their side. Eventually, they would catch up pretty quickly and would limit a bettor's profit from an AI. Do not forget they are once who are known to adopt new and innovative technology first than any other industry. So to an extent AI betting would help the bettor but it wont last in the long run.

[Oshosondy]

I was just wondering how cool it would be when an AI would do the data analysis work. Imagine it analyzing the data and picking up the best odd for a bettor. There is a possibility that an AI could outrun a human being in those spaces and they might excel in it. But, we cannot ignore the fact that a sportsbook won't work on improving their side. Eventually, they would catch up pretty quickly and would limit a bettor's profit from an AI.

If a gambler is using AI bot, there is still probability that he will still lose, especially as he gambles more frequently. AI bots does not make someone to be a better punter, the person can still lose and lose.

I can not think of better ways to the extent of looking for ways to earn more than I lose. I will still consider bots in trading than gambling but which I am not using too. There is nothing better than me to gamble appropriately without AI or anything like bots.

I can assure you that AI or other bots does not guarantee winning.

[Cantsay]

We add a question mark to number two. Eventually, AI will get so advanced that an artificial intelligence program should allow sports bettors to quickly identify bets with the highest probabilities of scoring wins.

Gambling is gambling. I get the fact that using a bot or an AI could increase the potential of your winning but not in all games because sometimes we all still lose bet I’m games that we were 99% sure that we were going to win. Take for example when an Upset happens, and just like the post above mine started I would I use bots for trading than to trust it for my gambling.

Let’s talk about the casino itself, while some gamblers might be willing to use AI to gamble since they are going to realize more profit you won’t just expect the casino to sit down and watch their money being scoped away by an AI, for one some might restrict the use of AI and if an anomaly is detected they could shutdown the account without further explanation and if your think they won’t be a way to detect AI usage trust me they’ll figure it out. For now, let’s keep having our fun while still outing our brain to use.

[topbitcoin]

I was just wondering how cool it would be when an AI would do the data analysis work. Imagine it analyzing the data and picking up the best odd for a bettor. There is a possibility that an AI could outrun a human being in those spaces and they might excel in it. But, we cannot ignore the fact that a sportsbook won't work on improving their side. Eventually, they would catch up pretty quickly and would limit a bettor's profit from an AI. Do not forget they are once who are known to adopt new and innovative technology first than any other industry. So to an extent AI betting would help the bettor but it wont last in the long run.

I can only be speechless amazed by the advancement of technology and the convenience in it.
In the past, when I wanted to do data analysis to win a bet, it took quite a long time because I had to find valid information from various sources and continue to absorb the latest information as material for analysis. What's different now is that after the advent of AI, they can infer the information we need for analysis in a short amount of time.

I can assure you that AI or other bots does not guarantee winning.

Well... we can't completely rely on AI alone. Predictions can still go wrong, we also need to absorb other information, don't just stick to AI. And if we only focus on AI/artificial intelligence, if we do this in the long term it will make us stupid, because we also have thoughts that need to be honed.

[dothebeats]

I don't get why a lot of people are really amazed on how AIs can do things. Without human touch and input, AIs will not function to a human's liking and would be more of a liability than a tool. In sports betting, those who are versed in the game are more likely to do better decision-making than an AI who can only crunch numbers that is fed on to it by a human or another machine. AIs can do a lot of cool things in terms of automated betting, but I wouldn't depend on it 100% to bet on my behalf in sports.

[CarnagexD]

I don't get why a lot of people are really amazed on how AIs can do things. Without human touch and input, AIs will not function to a human's liking and would be more of a liability than a tool. In sports betting, those who are versed in the game are more likely to do better decision-making than an AI who can only crunch numbers that is fed on to it by a human or another machine. AIs can do a lot of cool things in terms of automated betting, but I wouldn't depend on it 100% to bet on my behalf in sports.

Oh, totally get you! AIs are cool but they're no match for human sports savvy. They can crunch numbers, but they're not nailing that human touch. I wouldn't bet my bucks solely on an AI for sports betting, you know? AI don't have the guts that's when we trust our guts! Because in gambling it's more of like a very mental and luck game. 🤝

[Hispo]

I don't know about you all, but I am still quite skeptical on the benefits Artifical inteligence could have in the world of sport betting, because if we talk about the use of AI to predict outcomes, I doubt they would have much of an advantage and even if there is an actual advantage, if most of people learn how to use and have access to such technology, then all of us would have the chance to exploit it and betting would lose the uncertainty which makes it attractive and profitable for those who manage to get the results right.

A situation like that would make the odds to look very unbalanced, in short, it would break sport betting.
Though, I am counting on AI not being so precise.

[cabron]

I was just wondering how cool it would be when an AI would do the data analysis work. Imagine it analyzing the data and picking up the best odd for a bettor. There is a possibility that an AI could outrun a human being in those spaces and they might excel in it. But, we cannot ignore the fact that a sportsbook won't work on improving their side. Eventually, they would catch up pretty quickly and would limit a bettor's profit from an AI.

If a gambler is using AI bot, there is still probability that he will still lose, especially as he gambles more frequently. AI bots does not make someone to be a better punter, the person can still lose and lose.

I can not think of better ways to the extent of looking for ways to earn more than I lose. I will still consider bots in trading than gambling but which I am not using too. There is nothing better than me to gamble appropriately without AI or anything like bots.

I can assure you that AI or other bots does not guarantee winning.

The AIs will probably just bet the bookmaker's favorite team as a suggestion from the AI. And then of course the bettor thinking like he has the advantage will just click Ok and all that he manages is just how much money he'd put on for every bet.

A more advanced AI will probably choose the winning method in sports such as Boxing or UFC fights. The problem with such AIs is that they will grab data from somewhere else to check the records of the athletes, if the athlete's data is not found like nowhere found in Wikipedia, the AI will malfunction.

[QueenVera]

I don't know about you all, but I am still quite skeptical on the benefits Artifical inteligence could have in the world of sport betting, because if we talk about the use of AI to predict outcomes, I doubt they would have much of an advantage and even if there is an actual advantage, if most of people learn how to use and have access to such technology, then all of us would have the chance to exploit it and betting would lose the uncertainty which makes it attractive and profitable for those who manage to get the results right.

A situation like that would make the odds to look very unbalanced, in short, it would break sport betting.
Though, I am counting on AI not being so precise.

You're right because the introduction of AI to gambling does not guarantee a 100% success in gambling it might only increase one's performance or reduce much loss but the chances of losing is still their, currently there is not technology or  strategy that guarantees regular success in gambling it a game of both luck and skills combined and I think any years that a successful strategy is discovered then that is the end of gambling, many businesses would close down because alot of individuals if not all would want to use that strategy and it would lead to bankruptcy therefore for this not to occur the casino owners would try as much as possible to secure their business against all odds or strategies that would lead to loss money or close down completely

[Hispo]

I don't know about you all, but I am still quite skeptical on the benefits Artifical inteligence could have in the world of sport betting, because if we talk about the use of AI to predict outcomes, I doubt they would have much of an advantage and even if there is an actual advantage, if most of people learn how to use and have access to such technology, then all of us would have the chance to exploit it and betting would lose the uncertainty which makes it attractive and profitable for those who manage to get the results right.

A situation like that would make the odds to look very unbalanced, in short, it would break sport betting.
Though, I am counting on AI not being so precise.

You're right because the introduction of AI to gambling does not guarantee a 100% success in gambling it might only increase one's performance or reduce much loss but the chances of losing is still their, currently there is not technology or  strategy that guarantees regular success in gambling it a game of both luck and skills combined and I think any years that a successful strategy is discovered then that is the end of gambling, many businesses would close down because alot of individuals if not all would want to use that strategy and it would lead to bankruptcy therefore for this not to occur the casino owners would try as much as possible to secure their business against all odds or strategies that would lead to loss money or close down completely

It is not only the fact that businesses would lose money but the industry would change in a very negative way. For example, if there was an open source AI, which all of us had access to and we decided to use it to try to get betting results, it would imply the AI would say the same to all of us. If we actually took the AI advice then the volume of money put at stake for a result would be much bigger than the contrary result. That is the unbalance I am talking about.

Even if the AI would only Increase the chances of success in 35% or so, still would create an unbalance, depending of the volume of the market and the casino, Arbitrage would propagate the problem further to other markets.

[Beparanf]

I don't get why a lot of people are really amazed on how AIs can do things. Without human touch and input, AIs will not function to a human's liking and would be more of a liability than a tool. In sports betting, those who are versed in the game are more likely to do better decision-making than an AI who can only crunch numbers that is fed on to it by a human or another machine. AIs can do a lot of cool things in terms of automated betting, but I wouldn't depend on it 100% to bet on my behalf in sports.

Because not everyone can do a thorough analysis on sports because you will need to watch or become updated on all happenings to get the best analysis while you can do this only by focusing on it with a lot of time which everyone doesn’t have.

AI analysis will benefits those bettors that don’t have a good analysis skills. I’m sure this AI technology doesn’t give much interest to sports expert but this tool is a blessing to normal user that wants to bet on sports with a good analysis on picks.

[pakhitheboss]

AI is a new technology that has changed the way a business was conducted earlier and now AI has become a big challenge. Considering what an AI can achieve if a user knows how to use it I feel this is bad for humanity. The reason being AI might become something that would take the job of a lot of professionals. That being said I believe a human would be more formidable than an AI when we think about sports betting. An AI would only respond to a query and a human would not as a human is already knows what he/she needs to work on. Bettors would benefit initially but in the end, the house would overcome it. Considering what might be the recursion in the long run I think the house won't tolerate such theft. We would only know what would happen next when such a issue is detected by the house.

[dothebeats]

I don't get why a lot of people are really amazed on how AIs can do things. Without human touch and input, AIs will not function to a human's liking and would be more of a liability than a tool. In sports betting, those who are versed in the game are more likely to do better decision-making than an AI who can only crunch numbers that is fed on to it by a human or another machine. AIs can do a lot of cool things in terms of automated betting, but I wouldn't depend on it 100% to bet on my behalf in sports.

Because not everyone can do a thorough analysis on sports because you will need to watch or become updated on all happenings to get the best analysis while you can do this only by focusing on it with a lot of time which everyone doesn’t have.

AI analysis will benefits those bettors that don’t have a good analysis skills. I’m sure this AI technology doesn’t give much interest to sports expert but this tool is a blessing to normal user that wants to bet on sports with a good analysis on picks.

So why enter something that you are not good at and leave it to the AIs for autopilot? That calls for a lot of loss in money and capital, and not really desirable if you'd ask me. There's that reasoning that not everyone who enters something, enters it as a pro, but you can't really say that especially if you are risking money in order to make more money. Also, there's not an AI currently that can do predictions, so the user will likely have to feed the AI inputs that he/she should know what it's all about.ß

[Cryptomultiplier]

Technology is changing almost all aspects of both betting, trading and gambling. The revelation of AI is one that has seen more online bet platforms, trading platforms and exchanges incorporate AI bots as an upgrade to provide trend analysis and projections.
The technology you are referring to, isn't only limited to AI, because Web3 features and the network on which it operates is inclusive.

[tjtonmoy]

I can not think of better ways to the extent of looking for ways to earn more than I lose. I will still consider bots in trading than gambling but which I am not using too. There is nothing better than me to gamble appropriately without AI or anything like bots.

I can assure you that AI or other bots does not guarantee winning.

I agree with you and I think it is not wise to use AI or Bots for this purpose. When it's about betting, it depends on luck. It's a 50-50 chance. When you are using it for trading purposes, it can work with more data and give you some sort of accurate prediction. (not 100% accurate). It will also lose as sometimes the market moves on people's sentiments. As AI lacks human emotion, it will be unable to predict what's coming next.

Also, in sports betting, it's humans that are playing the games. Not machines. And past performance does not give you future predictions on sports. Anything could happen at any time. So if you really want to try out your luck, why use AI or Bots for that matter? Do it on your own. It's more fun that way. And gambling should be for fun and entertainment.

[dezoel]

All other things are right but I don't think that AI is yet at the level of development where it can be used flawlessly for predicting the outcome of upcoming matches, even if an AI model is trained using the most recent data, it might be able to assist a bettor with their bets but it won't be able to do all the work and finalize a bet and let the gambler use that bet without any further research and analysis because AI models are not at that level yet.

A person can surely use an AI model such as GPT-4 to do the basic research and analysis and to fetch the data necessary for the research they need to do before they place a bet only if they can play around with the prompts needed for that, but one shouldn't totally rely on an AI model for their bets.

[Jawhead999]

I think the way technology is changing sports betting is fantasy sports and e-sports.

Fantasy sport can be fun because you can select your favorite player to bet, while e-sports create a new sports to be competitive and can be gambled. Currently fantasy sport isn't really popular, but e-sports is really popular since it's more real and many young generations are playing these games in their own cell phone or PC.

[maydna]

Technology is changing almost all aspects of both betting, trading and gambling. The revelation of AI is one that has seen more online bet platforms, trading platforms and exchanges incorporate AI bots as an upgrade to provide trend analysis and projections.
The technology you are referring to, isn't only limited to AI, because Web3 features and the network on which it operates is inclusive.

Technology has changed everything, including gambling, and with technology, gambling is increasingly popular and makes it easy for people to gamble. And whether this AI will be used in gambling, we can only wait, and perhaps we can find out more about AI that will be released in gambling. But I'm still curious how this form of AI can be incorporated into gambling, but if this AI is used to find more detailed information for sports betting, it looks like it will be very interesting to try. Moreover, we can get more data useful for analyzing the competing teams.

[bitbollo]

the real change is given by the bots/tools that allow you to automatically place tens/hundreds of bets based on a specific strategy.
this has been one of the best innovation that has elevated the betting games to financial standards.
But meanwhile I think it will still take many years before we see an AI system capable of producing similar winning strategies