Artificial intelligence technology plays a huge role in betting. It is used to improve data analysis, calculate odds, improve applications, and comply with responsible betting rules. Artificial intelligence is used to analyze user behavior and preferences, allowing personalization of apps and websites. All of this helps bookmakers stay competitive and retain customers.
However, the introduction of AI into the betting industry is not so cloudless and perfect. Challenges relate to security issues, data privacy, and reliance on machine predictions. There are also ethical issues. All of this makes the use of AI in betting an issue that has been discussed time and time again.
Two kinds of AI: analytics and generation
When it comes to implementing AI in a bookmaker's work, it is important to understand: that there are different types. Generative AI, which creates original content, and analytical AI, which checks data to find patterns and anomalies.
Where is it used?
For example, you can try to automate a marketer's work: use generative AI to create advertisements. Analytical AI can help calculate odds based on past results of teams. These are just a couple of examples of possible uses for such technologies.
You can combine generative and analytical AI. For example, create a chatbot that will analyze the results, but when a player asks: "Which team is better to bet on?" it will give not just statistics, but a meaningful "human-like" answer. Bots can even support the conversation, which increases player engagement and improves the impression of a bookmaker's website or app.
What are the disadvantages?
The main problems are related to the protection of personal data. Not all AI algorithms protect users' sensitive information.
In addition, there is always a risk of errors - both analytical and so-called "AI hallucinations". All this can affect the accuracy of predictions, and a disgruntled player will surely be outraged by a bad prediction.
It is recommended to use a closed AI. It is more difficult to train, it will take more time to integrate. But it will not give away users' personal data.
"Ethical" problems
In the context of AI and bookmakers, the "ethical" issues relate to how "honest" and impartial the advisor behaves. The risks increase with closed AI: there is a chance that the machine will favor certain teams or players. This will affect the quality of analytics and predictions.
Strengths and weaknesses of machine intelligence
The main advantage: is accuracy and the ability to process huge amounts of information. A human will spend several hours or even days. AI can handle it in a couple of minutes. Analytics is the basis for competent betting and intelligent betting. Nevertheless, the technology is still imperfect. The machine makes mistakes due to a lack of data - it cannot get what a human has not uploaded to it. Therefore, a bookmaker should warn users about the AI's shortcomings if it places such a service on its website or app.
In general, the possibilities of artificial intelligence in the field of sports betting are already good, and further, this industry will only develop. The potential is huge. Analysts believe that very soon AI will become the main way to predict match outcomes.
