Predictive analytics are everywhere these days. In medicine, transportation, retail – you name the industry, professionals are using predictive analytics to refine their operations, make predictions about sales growth, calculate inventory, and much more.
Online sports betting is not exempt from this trend, either: sites have been exploding in popularity recently thanks to the inclusion of analytics in helping refine betting odds.
The results are truly exciting. And more and more people are getting on board who never previously imagined they might take part. So when you go online to check out new betting apps and bet offers, you will be getting high-quality sites loaded with valuable information.
Why predictive analytics?
Predictive analytics can be used to analyze every conceivable aspect of sports. Although some fanatics are quite good at conducting their own analyses by the standards of other people, nothing can compare to the capabilities of these online programs.
Modeling types
There are different types of models used in predictive analytics for sports. Which one you choose for any particular program can help predict different aspects of the sports you bet on. For example:
- Regression analysis. This type of analysis identifies patterns using a dependent variable – your intended outcome – and one or more independent variables. Independent variables are the factors that can influence the outcome, depending on whether you are looking for a points total, a team win-loss ratio, etc.
- Neural networks. Digital neural networks take their name from the networks that exist in the human brain. Accordingly, they are designed to work in a similar way, but on a much higher level. Neural networks can gather information such as player fitness levels, recent performance, and head-to-head statistics to determine likely outcomes.
- Decision trees. Decision trees consist of data point “nodes” and branch out similarly to the way trees do to determine different levels of probability regarding different aspects of sports outcomes. They can be an effective way of mapping performance to effectively determine how to place bets.
These are just a few examples of the different kinds of models being used in sports betting currently. Programs can be extremely sophisticated, yet they are readily available to anyone hoping to utilize them to improve their odds.
Pattern recognition
Analytical tools – particularly those that involve the use of artificial intelligence – work by gathering enormous amounts of data together, including player statistics, historical team data, weather conditions, and even “outside” factors such as social media comments.
Tools collect this information, sort it, and analyze it in various ways to determine granular patterns far beyond human capability.
This type of pattern formation can greatly assist bettors in forming bets as they can combine the results of analytics with their own personal knowledge, and come up with super-accurate odds predictions as a result.
Real-time betting versus preliminary betting
People didn’t used to have choices when it came to when they placed bets. They would go to a physical betting site before a game started, make their wagers, and hope for the best.
But this is all different now. Thanks to AI-driven programs, people can make bets at any point before or even during games. There are advantages and disadvantages to betting during games:
- With pre-match betting, you know that the bet you make will remain throughout the course of a game. If something appears to be changing, but then the momentum switches back in the other direction, you can rest assured that your bet will stay intact.
- Real-time updates can be a distinct advantage if you utilize them appropriately. If there really is a pivotal shift in a game, you can capitalize on it and put yourself in a whole new position if you get the timing right.
Analytical or not, these tools will help you win your game
You may or may not consider yourself a particularly mathematical person by nature. But with the use of predictive analytics in sports betting, you don’t have to be. These tools can do all the calculating for you, and all you have to do is tell the programs what you want.
This is not to suggest that you should trust them wholeheartedly – sometimes your instincts can override what you see on a screen. But there is no question that they can be immeasurably helpful in predicting many aspects of sports outcomes.
And this is why you should get on the sports betting bandwagon if you haven’t done so yet. You never know how far it might take you!
