Algorithms are complicated and complex, and underpin everything when it comes to generating and shifting odds for online sports betting. With science and mathematics involved, it has given rise to several dedicated experts who use these algorithms to predict the outcomes of sports bets with remarkable accuracy.
Of course, there is no such thing as a foolproof or guaranteed strategy. But by using algorithms to your advantage, you could be gaining a significant edge when it comes to your sports betting.
Here we will look at exactly what sports betting algorithms are, how they work, how to apply them to your sports betting strategies, and the pitfalls to be wary of.
Before anything else, it’s important to understand what algorithms are and how they relate to sports betting. Algorithms are mathematical formulas designed to solve problems based on relevant data. In the case of sports betting algorithms, the formula will be used to reflect the potential outcomes of sports events accurately.
While algorithms themselves are quite complex, and the data needed is often extremely vast, the actual data itself is not all the complicated. Let’s put it in relevant terms: say someone is creating an algorithm for a soccer match to predict the outcome. Data used would include the two teams’ respective form, the teams’ home and away winning percentages, average goals scored, and other similar data.
Combining this sort of data with advanced analytic tools results in the creation of sports betting algorithms. The more data available, the more accurate the algorithm.
Applying sports algorithms to predict outcomes of games and events can vary in difficulty according to the sport. According to experts, predicting European soccer games is among the easiest. That is because soccer matches follow set patterns like game duration and fixed rules.
Therefore, if you observe and analyze 100,000 games, there will be certain patterns that emerge. These patterns can then be used to form betting strategies, which if properly implemented, can boost your chances of success.
The best way to get an edge and boost your sports betting chances is to gain the vital information that may alter the algorithm – and therefore the odds – before the algorithm creators. For example, if you find out that Lionel Messi and Luis Suarez – Barcelona’s two most important attacking players – are unavailable for their next game before the market does, you could take advantage of the original odds before they inevitably change when the news emerges.
There have been remarkable advances in the science and mathematics that go into the development of sports betting algorithms, but they can never be entirely relied upon for accuracy. After all, sports can be unpredictable and full of surprises.
For instance, an algorithm cannot account for the many variables that can take place during a game – like a red card in a soccer match or an unexpected mid-game injury to a star player. The algorithms would have been created to account for these kinds of instances and the changing odds during live matches will reflect this.
However, for bets placed pre-match, these changes to events cannot be predicted by algorithms, data, or inside information. Therefore, while algorithms play a crucial role in identifying trends and odds, it is advised to not view them as the exact science behind the outcome of sports events.