How Data Science Impacts Sports Betting
If you’re a casual sports bettor, the chances are that you lost more money than you won during your pursuit of luck. When placing these kinds of bets, people tend to rely heavily on favorites, or they just keep making uneducated guesses while being blinded by the potential profit. Maybe you even tried to come up with a perfect “system” that could bring you easy riches but never seemed to figure it out. Whichever may be the case, the way to beat the bookies is achievable, and data science appears to have all the answers.
What Is Data Science?
In short, data science is a science field which uses complex methods to understand and get an insight on specific data. It uses math, statistics, information, and computer science to analyze a particular phenomenon and to better predict how it will behave in the future. To these scientists, sports betting is nothing more than a series of numbers that can be followed in a pattern. This way, data science can create a system which will always give you the edge over a bookie and can turn mere chance into guaranteed profit. Gambling is a numbers game, and it’s logical that whoever has the most information will have a higher chance of winning. That’s why a lot of data websites exist. They sell information as to help gamblers accurately predict the outcome of the next match.
Betting Account Limitations
Naturally, betting companies frown upon the mentioning of data science used by their customers. They want to keep people in the dark, making them believe that only luck can win them money. So, if a gambling website notices that you are placing bets under some kind of a “system” and keep winning, they may limit your account to only a few dollars per bet. They want to make sure you never have the edge over them, so the system doesn’t spread and they run out of business.
Gambling Companies Using Data Science
While gamblers are trying to exploit the boom in data science, gambling companies themselves use it as well. They were actually one of the firsts who adapted this science. Gambling companies rely on data science as to ensure their odds never get exploited. There are many factors to consider when a sporting event is taking place. While an athlete’s performance can be predicted based on his talent, skill, and experience, there are multiple other factors to think of, like form, moral, potential injury, matchup history, etc. All of this can be put into numbers and can help bookies just as much as bettors.