Every big football like Euro or World Cup, the betting world becomes exciting. There are people who are fortunate to earn a fortune, but there are also many people who are empty-handed. Is that in the future, when AI technology is booming. Can it offer advice to minimize the risk of losing a player?
According to BGR News, scientists are exploring how AI and machine learning predict the outcome of sports betting. That’s computer power has the potential to outperform an analytical child’s ability people.
Specifically, they rely on machine learning, common statistics, and random approaches to make forecasts. The applied method is explained in detail by MIT Technology Review.
Instead of calculating the results at each arm, the process calculates the results of the random arms. It does this multiple times, each with a different set of branches also randomly selected. The end result is an average of all randomly generated decisions.
They analyze the probability of winning conditionally to create results for each stage in the tournament. The method indicates that Spain are better than Germany. Because Germany has a relatively high elimination rate in the round of 16 teams.
The data is then processed by the company so it can generate probability forecasts. Finally, the prediction was made that Germany will beat Brazil to crown, while the remaining two teams in the top 4 are Spain and France.
Another company, Goldman Sachs, was also involved in the game using machine learning. Up to now, all of these predictions were wrong, because Germany came home right after the group stage. It’s too early to say that AI is likely to make more accurate predictions in the future.
Thereby it becomes an effective tool to help betting players more confident when participating in the fight with the house. Because football is an unpredictable sport with the element of surprise that can happen at any time.