..

Improved Handicapping for Sports Bettors: Should Bookies Fear Cardiff ‘Big Data’ Project?

Written by:
Guest
Published on:
Mar/06/2017

  • ”Big data” collected from thousands of previous results could more accurately predict game results
  • Specially programmed robots used to conduct analyses
  • Possible match fixing also detected by project team
  • Professor says: "If we start winning on an industrial scale then we would present some danger to betting companies”

A team of statisticians at Cardiff University are working on a project that will improve stats and the potential winnings for sports bettors through the use of “big data” collected from thousands of previous results.

The academics and their specially-programmed robots then use their analysis to make bets, according to the BBC report.

Prof Anatoly Zhigljavsky, of the School of Mathematics, said: "We don't feel it as money. We feel it as a challenge.”

His team focused on soccer matches from around the world over a three year period with results that included in-play data.  Number of goals, yellow cards and red cards were reviewed in comparison with the odds being offered by bookmakers.

"If the odds are in our favour we put a small bet in," Prof Zhigljavsky said. "And that's how we put in hundreds and hundreds of bets.”

Prof Zhigljavsky said the team had one robot which, despite them not tuning it for three years, has made a "small but steady profit".

"It [the profit] is not significant but it's still positive," he explained.

Zhigljavsky says current artificial intelligence punters cannot be trusted on their own to make money.

"Some robots are quite successful but most of them are not. Most of them require human intervention.

"We are still looking for the robot that will make big money," he said.

"We know when to play, we know when not to play. We know how to play. Unfortunately, we still don't know how to fully automize good robots."

Zhigljavsky also revealed that his team uncovered possible betting scams such as match fixing after noticing unusual fluctuations in the odds.

In the end, he acknowledges that, in order to achieve that betting edge, one must employ discipline.

"It looks like if you, at least, don't want to lose money in betting, then you have to apply some time, you need to apply some effort.

"I have a couple of friends who are making decent money [from betting] - they don't need to work, if they don't want to. They work for the moment, but they are thinking of quitting work.

"But they have to spend a serious amount of time to prepare for the proper betting, so nothing is free, unfortunately.”

The professor eased any concerns bookies might have about these new endeavors.

"If we start winning on an industrial scale then we would present some danger to betting companies but I don't think we are any danger because our winnings are absolutely negligible.

"Because we are putting on lots of bets they actually may monitor people like us and get some extra information from us," Prof Zhigljavsky said.  

- Don Shapiro, Gambling911.com

Gambling News

Can I Place a Bet on the FanDuel App From California

Can I Place a Bet on the FanDuel App From California

The new FanDuel sports betting app is available to those living in the state of California but only internationally-licensed websites are accessible for real money bets from within the state. 

How a Pandemic Changed the US Gambling Market

The COVID-19 pandemic has disrupted nearly every aspect of human life all around the world, and it was not surprising that the gambling industry was not spared. It goes without saying that the activity is enjoyed by millions of people all around the world and since it heavily relies on social interactions to a given extent, the lockdowns and social distancing measures would make it much harder for everything to proceed normally. 

A Guide to Online Casinos in Thailand

A Guide to Online Casinos in Thailand

Looking for some gambling action in Thailand? It’s good to understand that local laws don’t allow gambling activities except in horse racing and the national lottery. It’s against this backdrop that the online casino industry has continued to grow. The laws don’t mention online gambling, and this makes it safer to play online.

NJ Sets US Sports Betting Record at $668 Million

NJ Sets US Sports Betting Record at $668 Million

New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, plunking down almost $668 million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the coronavirus outbreak, figures released Monday showed.

How Blockchain Technology is Changing the Online Gambling Industry

How Blockchain Technology is Changing the Online Gambling Industry

The introduction of internet usage in the gambling industry was a game-changer. Casino owners took advantage and seamlessly integrated the latest technology to improve the user experience. Gamers, on the other hand, enjoyed the freedom and the versatility brought about by internet usage in the industry. They could now engage in any sport and play from casinos of their liking as long as they had an internet connection.

Syndicate