January 4, 2024

AI and Sports Betting: Who Benefits the Most? Is It the Bookmakers or the Bettors?

Artificial Intelligence has not only entered the world of sports betting, but it has been transforming it in many ways, making it far more appealing and effective for both the sportsbooks and their customers. Nobody can deny that AI has changed the sports betting industry, but its benefit remains yet unknown. 

AI for the Sportsbooks

On the one hand, we have online bookmakers that have been largely embracing AI because of the unique and incomparable advantages that it brings to the table. The ultimate goal of every betting platform or Malaysia betting app, is no other than to earn profits by having their users satisfied and loyal. That’s because loyal and satisfied customers bet more, and they are less willing to switch to other betting sites, even if switching costs are negligible. 

Well, AI can do that, and it can do it easily and successfully. AI can optimize bettors’ satisfaction by enabling greater personalization and customization of services, products, bonuses, and promotions. 

Generative AI can prove extremely handy to sportsbooks because it can analyze big chunks of data and generate recommendations for offerings tailored exactly to the needs or behavioral patterns of punters. 

This means that online betting sites are able to tell exactly what their users prefer or are likely to be delighted with and accordingly give them what they want. They can develop betting markets or bonuses or offerings, or better yet,  based on AI’s results in describing and analyzing customers’ choices, attitudes, and behaviors in sports betting. 

And bettors cannot but be satisfied when they are offered what they want before they actually need to ask for it. That’s a delighter! 

Bookmakers and online betting apps, like 1XBet App, are also able to build customer relationships through AI-enabled chatbots, which can revolutionize customer service. Chatbots can transform the communication experience for users by helping them with their requests, assisting them in solving problems, or even navigating them through the website or the app when necessary. All this makes bettors’ experience much more valuable and counts much for the benefit of the bookie. 

AI for the sports bettors

Mercifully, AI is not only for betting sites and bookmakers, but it is also for sports bettors. And the biggest use of AI in betting is no other than the development of AI-generated models for prediction in sports. 

Artificial Intelligence can build models that make forecasts about upcoming games and sporting events. By analyzing data, past records, and statistics, such AI models can help punters make informed choices like never before. 

Browsing the internet, users can actually find their way through developing such models. They don’t need to be tech experts or have some kind of special knowledge of building such things. All they need to do is follow certain processes and make their own AI-driven system which will assist them in choosing their bets. 

The verdict

It appears that both bookmakers and bettors are getting substantial benefits from AI, at least in theory. In practice, though, the truth is that AI is far more effectively and efficiently used by sportsbooks. Predictive models are not just for the sports bettors. They are largely for the betting sites as well.

This means that even if punters get to leverage AI-based models for making betting choices, bookmakers are too leveraging such models to set their odds and betting lines accordingly. So, it is a matter of who will be more quick in doing so! The thing is that Artificial Intelligence will certainly end up benefiting the side that has more tools to exploit the opportunities offered. And it seems that this side, at the moment, is the side of the bookies. 

About the author 

Kyrie Mattos

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}