In the dynamic world of sports betting, artificial intelligence (AI) is bringing in a new era of precision.
AI is transforming how odds are calculated, enabling gamblers to make more informed decisions and enhancing their overall winning outcomes.
Brenton Chelin, Head of Brand at Sportingbet, one of South Africa’s leading online sports betting platforms, highlights the significant impact of AI on the industry.
Read: SA workers’ adoption rate of AI surpasses those in Europe and US
“One major uses of AI on the betting companies’ side is odds calculation. Using AI algorithms, it’s possible to analyze historical data and real-time information to ensure that betting odds are as accurate as possible,” Chelin explains.
Paradigm shift
Traditionally, odds calculation relied heavily on human analysis and intuition. However, the advent of AI has brought about a paradigm shift. AI algorithms can process vast amounts of data in real time, identifying patterns and trends that might elude even the most experienced analysts. This not only improves the accuracy of the odds but also allows betting companies to offer more competitive and appealing options to their customers.
The benefits of AI in sports betting extend beyond just accurate odds. Chelin points out that AI is also playing a crucial role in promoting responsible gaming. “The rise of AI in sports betting is particularly focused on gambling controls; limiting customer exposure to risk at an individual level. It switches our player protection approach from reactive to proactive and allows players to receive the intervention they need in real time, not after the fact,” he says.
AI-driven responsible gaming controls can identify early signs of problematic behavior, such as unusual deposits, increased time spent on betting sites, and the use of multiple payment methods. When the system detects these risk factors, it can trigger real-time interventions, such as warnings and pop-ups, to help prevent gambling addiction and other related issues.
Personalisation
As the sports betting industry continues to evolve, the integration of AI is expected to drive further advancements. Software developers are working on features that focus on personalisation, where recommendation engines consider a user’s previous betting performance to offer tailored advice. This level of personalization helps punters make better-informed decisions and enhances their overall betting experience.
“The online betting space has changed dramatically over the years, but its evolution is far from over,” Chelin notes. “It’s critical that operators in the sector keep up with these trends and advancements. Those that don’t risk being left behind.”
However, Chelin emphasizes the importance of adapting AI solutions to local markets. “SA is five years behind the more mature markets such as the UK. But we need to make sure that we aren’t just taking what has worked in Europe and simply transplanting it into the South African marketplace. There needs to be a consideration for the local audience, what they want to bet on, and how they will make use of our platform,” he concludes.
The integration of AI into sports betting is revolutionizing the industry, offering more accurate odds and enhancing responsible gaming measures. As South African operators strive to stay competitive in this fast-paced environment, embracing AI technology will be crucial for their success and the satisfaction of their customers.
