Sports betting is worth all the hype right now, it is increasingly becoming one of the most popular and regular methods of entertainment all over the world. Regular players are usually hooked to Sports betting sites nowadays and often end up spending a lot of money. But did it ever occur to you to ask, how gamblers decide their betting strategy? Often time most of the bettors rely on luck while placing their bets rather than have iron-clad logic or reasoning. Their ideology is to take any opportunity to make a profit and then keep on making wagers. 

While there are several strategies a bettor could use but often success and profits still elude them. To truly have a winning strategy on your hand data science would be the key you need to make logically-driven gambling decisions. 

Before directly jumping to the strategy part let's first discuss what we mean by Data science? Data Science is a scientific field that relies on a specific process to provide solutions to the users. Using the Data Science technique in sports betting would require a huge number of databases which could then be used to derive certain patterns which will improve the winning chances. With data science, a system can be created that would give the betters an edge and help turn chances into profits. 

Gambling is a game of numbers thus the player who is armed with information would enjoy a relatively better chance of making money with Sports betting either in casinos or in betting houses. There are a number of data websites in the market today which provide their odds to the users and often help users in predicting the chances of different outcomes as well. These sites would sell information and assist gamblers in predicting the outcomes accurately for events.

While that all sounds fancy what can be the limitations?

Mostly in the gambling industry, the operators will try to push the theory of luck onto their players, this would create an illusion in the mind of the players that they can win only if they are lucky enough. While the methodological approach to data science would not be talked about. In some cases, you might have witnessed that betting houses sometimes introduce limits if they see a player regularly winning with a certain system. The betting houses have thus restricted the number of bets you can place. 

How do Gambling Companies leverage Data Science? 

Gamblers who approach data science systematically can improve their chances of winning regularly but apart from betters, gambling companies also leverage Data Science from time to time.

The operators use Data Science to ensure that the odds are not exploited by a particular user. Also, Bookmakers use a number of factors like the performance of the team, the players’ skill set and talent as well as the performance history of the players and their form, injuries, weather, and previous record against the opponent to come up with the right odds and they do that by leveraging data science.

The use of data science was first used by gambling companies only and later on it trickled down to gamblers. Apart from safeguarding against fraud, there are a number of events that take place in a match. Numbers can be used to predict an athlete’s performance as well taking into consideration many factors such as talent, skill, experience, further form, potential injury, and performance history all of these would help produce better odds. 

The technology revolution has brought several opportunities for all the parties involved. The same can be seen in the gambling industry as well. Over the years' a new way to bet has also been evolved- Micro-betting. It is essentially a form of live in-game betting, betters would place their bets on the outcome of individual moments within a match for example the next pitch in baseball, the next move in football, and so on

The last question we plan to answer is how would Operators now get access to a rich database? 

There are plenty of Sports Data Providers in the market working alongside Betting operators to provide a seamless experience to the users. Data Sports Group’s experienced team of Data Analyst are constantly improving and creating unique algorithms that would help the betting market get new insights and predict more realistic outcomes, like winning probability, matchup odds, and future performance projections. DSG is committed to providing accessible tools to operators as well with a comprehensive database, our historical data feeds go back to 50 years which can be used to create insightful analysis that would help in making faster betting decisions. With intuitive Pre-Match widgets, you can even get access to presentable data as well.

Technology and data have played a significant role in revolutionizing the industry and even with an ever-changing regulatory landscape and criticism. It is time to get on board and take advantage of the dynamic business possibilities.