Analysts that use big data to help bettors "beat the banker" are emerging

Richard Brown

Speaking of data analysis, some industries have been far ahead. Gaming industry is one of them. However, big data technology is also making the gaming industry's "forecasting" capability popular, which is bad news for gaming companies. Analysts that use big data to help bettors "beat the banker" are emerging.

Over the years, data processing and intelligent forecasting have provided convenient conditions for online and on-street betting, ranging from the FA Cup finals to the royal baby (betting on Prince William and Kate's son). The data allows them to set out odds on a variety of fuzzy variables, which may be the first corner kick in a soccer match or the number of points scored by the attacker at the end of a cricket match.

The scale of such data continues to grow rapidly. Nowadays, for every player in each team, there is a lot of data available to predict the outcome of the match. Gaming companies apply predictive modeling techniques to these ever-growing data sets, generating more and more gambling opportunities.

I made a statistics, during the World Cup, an online gaming company offers 328 options for only one game. Today, one of the key challenges for gambling companies is whether this can be done swiftly, so that odds can be changed in real-time while allowing punters to bet almost any time of the game.

For example, Betegy claims that it can accurately predict the outcome of 90% of Premier League matches with a sophisticated algorithm. They analyze every factor that could affect the game, from basic statistics such as recent performance and average goals, to more complicated factors such as weather effects and incentives.

This raises the question of when can sports fans obsessed with data be able to use their own algorithms to defeat gambling companies? Big data can destroy the gaming industry? Big data technology is mostly free. Hadoop is an advanced big data technology that uses a high-performance predictive analytics tool called the "R language," whose source code is open, which means they are available for free download. As long as I bought a computer with 1Tb of storage for less than £ 400, I was able to build a very sophisticated model. We can load a variety of statistical data and known results, so as to achieve such a sophisticated technology such as neural network. The software builds a "best fit" model based on all the available data, resulting in 9 out of 10 defeats "experts" and beat gaming companies alike.

One of my favorite examples is the defeat of a big expert by using the figures from the 2011 movie "Penalties". This is the true story of Billy Beane (played by Brad Pitt), manager of the Oakland Athletics baseball team, where he talks about acquiring and using a lot of player statistics to create a one-third budget from top teams Outstanding baseball team. We do get a ton of data about team performance and competitions right now, and we can use it to research a multitude of international sporting events to make decisions for fantasy teams or 3.15 times the odds at Epsom Racecourse By.

Football experts say the models can not replace understanding of the rules of the game and can not evade many factors, such as who is in good shape, what tactics the team uses, and the various locker room events. The same applies to the Los Angeles Police Department. Bureau police officers never believed computers would tell them how to work. But when predicting potential crime scenes using predictive techniques originally planned to build mathematical models of earthquakes, they found that their past knowledge was wrong. They sent police officers to predict where crime might occur. The end result was a 33% reduction in burglary, a 21% reduction in violent crime and a 12% reduction in financial crimes.

So, if you're proficient with computers, you can take full advantage of the analytics software that's right for you today, and it's worth trying. Do not focus solely on the more traditional betting outcomes such as wins and goals. Basic predictive analytics software offers the flexibility to bet on more uncertain outcomes.

Gaming companies focus on providing an analysis of each result as soon as possible. And for most of us, some big results, like scoring in the first place, with a slightly cautious, low-cost big data modeling might get some gains. Observing what your model gives you is different from the odds of bookmakers, this could be a good way to get started - and you're a step closer to ultimately defeating them under the rules they set.

When betting company odds by data researchers to overcome, they also give me how much odds? Perhaps worth a bet. Once this happens, I think we will see the odds gradually dropping to some point to offset the growing data processing power of the general public. (Author for Capgemini Global Business Information Management and Analysis Project Director)