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Great article appearing on Wired.com on how Cantor Gaming has begun to use algorithms in determining game lines for its sports betting operations.
Cantor Gaming runs a number of sportsbooks in Las Vegas, including at the M Resort.
Michael Kaplan, a friend of the Gambling911.com website, writes:
The resort’s new bookmaker openly boasts that it’s bringing the pace and style of Wall Street trading to betting on baseball, football, and basketball—and dabbling in everything from horse racing to golf.
CEO of Cantor Gaming, Lee Amaitis, tells Kaplan:
“When Wall Street first opens, everybody starts trading; in this town, when a game gets going, everybody stops betting,” he says. “That’s the dumbest thing I ever heard. The game is the market. Why not let people bet the market?”
Kaplan explains:
The cornerstone of the operation is a piece of number-crunching software called Midas. It functions like the predictive computer programs that Amaitis dealt with on Wall Street: Midas acquires information, processes it, finds mathematical patterns and correlations, and uses all of that to divine the ever-shifting odds of sporting events. The system is robust enough to handle the play-by-play handicapping that keeps Jimmy E. glued to every pitch of the Tigers-White Sox game. During basketball season, things move so quickly that the bettors at the M have about eight seconds to consider a wager before the odds change.
You can read more of the Wired.com article here.
- Chris Costigan, Gambling911.com Publisher
