Tag: Artificial intelligence

The art of harnessing artificial intelligence for sportsbooks

As we’ve seen this year, the groundbreaking and rapidly evolving technology powering artificial intelligence (AI) is sure to revolutionise the economy, including the world of sports betting. In the second part of this two-part series, Russell Karp, senior vice-president of DataArt, focuses on the many ways sportsbooks can benefit from harnessing the art of AI.

Today, one of the most promising uses of AI in sports betting is bettors’ ability to use the technology to place bets more strategically and attempt to minimise their losses.

Apps like BettorTakes and Juice Reel aim to boost users’ performance through comprehensive analytics of their past betting behaviours. As BettorTakes CEO Steve Rubenfaer described in an interview with DataArt this year, the app “show[s] you your patterns, biases and things you might not know about yourself”.

With these apps, AI can be used to assess bettors’ gambling history, in addition to player or team stats. AI can then present digestible, comprehensi..

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Exploring the potential and pitfalls of AI in sports betting

Artificial intelligence (AI) poses significant opportunities and challenges in nearly every sector, including the sports betting industry. In this two-part series, Russell Karp, senior vice-president of DataArt, delves into the most promising opportunities for sports betting in an AI-driven era.

Undoubtedly, AI technology plays a pivotal role in the sports betting industry.

From enhancing data analysis and odds calculation to refining user experience and supporting responsible gaming, AI stands at the intersection of innovation and user satisfaction.

AI-based customer relationship management (CRM) systems can be used to analyse user behaviour, preferences and trends to personalise digital experiences for bettors. This helps sportsbooks gain an edge over the competition while keeping their clients happy.

However, while the benefits are clear, the incorporation of AI in sports betting is not without its challenges. These may range from security concerns and data privacy issues to eth..

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