Finding the Best Data Results for NFL, NBA and MLB Betting
How the best data needed for betting the NFL, NBA and MLB is more available than just a few years ago
The sports betting business is a challenge and opportunity mixed together with the best data available and a little luck along the way. The ratio changes over time, mostly starting with challenges that gradually transform into fascinating opportunities. Building a successful data driven company in the gambling industry is extremely challenging but the opportunities this industry offers are truly exciting. One of those challenges in the sportsbook business is correct data flow and management. The importance of data flow does not revolve around the size of data but around the quality and the computer algorithms to obtain what is relevant to find NFL betting trends or to make your NCAA picks.
When data is combined with professional analytics, it produces a high quality output. The number of different business-related tasks increases for a sportsbook manager. Sports analytics deals with researching and then extracting valuable information from various sources in order to determine best price odds and define correct approaches to increase profits for sports bettors. NFL picks and betting trends are part of this researched information.
After data discovery and data preparation comes data delivery. Fast access to data is an integral part of the modern sportsbook operation for the sports bettor. In-play or live betting is getting more popular among players, which automatically sets high requirements for real-time data processing and delivery. Bettors need a platform solution for real time analytics. Basic conclusions are created based on the combination of such data to form a selection process and finding a value bet. Researching a possible bet ahead of time is a nice cushion but live betting is a hands on quick determination within the time frame allotted. Probably the only way to react on time with live betting is to find that hedge and be prepared to wager on instinct and knowing when the odds are in your favor. Live NBA betting is faster than NFL betting since each major league sport has a different pace.
How data output is part of the NFL, NBA and MLB betting equation
The variety of different data sources and forms of information have to be filtered to fit your mindset. Games statistics, matchup simulations, betting trends, weather forecasts and other different types of data to predict probabilities is a necessary process for success. The sources of data are usually connected in multiple ways, creating a flow of information to use for extra analysis if needed. Data output is usually dependent on each layer of the connection input structure and software. The speed of the data processing for large bookmaking operations is necessary but bettors only need data analytics at their own pace. Speed is not their top priority but up to date relevant information and inexpensive access is a key betting tool for support.
Machine learning in sports betting and artificial intelligence based technologies are making headlines but will it ever become functional. It’s a science of self-learning software algorithms that learn from data and execute tasks otherwise typically performed by humans. AI is a concept that will reshape the technology of many things in the future. Its implementation for the sports betting industry is a top-level challenge but perhaps a distant process that will be just a buzzword. It will allow creation of some customized offerings for every player and will increase some off-beat possibilities similar to hybrid propositional bet. How will it improve your NFL picks or support NBA betting totals remains to be seen.
The sports betting world opens new opportunities for development. More access via mobile devices such as smartphones, tablets and smart watches is reshaping customers’ interests and habits, changing the way they want to bet on sporting events. Cross-platform technical solutions will allow companies to deliver unique proposals to customers wherever they go and increase their need for more data. A future world betting cross platform between European and US bettors will combine fixed betting in the US with spread betting in the UK and betting exchanges around the globe. Shaping the betting platforms for worldwide participation is a software and network solution package that a few companies will develop (if not already) when the legal issues are resolved and with the possible favorable ruling by the US Supreme Court to overturn the ban on sports betting for US states.
How will future data analysis be the key ingredient for your NFL, NBA and MLB betting picks
Computer algorithms are the next wave of computer programs being applied to sports betting. Sports betting has become a database of statistics and trends to follow with computer programs and algorithms for support. New insights and better analysis are needed for success. What will the future of sports betting look like by 2020.
- Almost all sports betting will take place online. Bettors will use their smart phones or computers to place bets – in real time.
Smart phone apps are readily available from most of the major Las Vegas sportsbooks and casinos. Estimates of all Vegas sports bets via phone apps is 40%. Bettors like the convenience of betting from home or elsewhere without going to a sportsbook. The sportsbook operators prefer bettors in their casinos but they will take any outside action to increase their handle. The other majority of bettors like the festive atmosphere and other benefits of visiting their favorite casino sportsbook. But they still need their daily dose of data from a trusted source to determine their NFL betting picks.
- Large tech companies will emerge as mega bookmakers.
The changing landscape of sports betting revolves around digital applications. Tech and media companies like Google and Microsoft are carefully following the laws regarding sports wagering. When businesses that make billions from digital platforms jump into the sports betting industry, you can assume the entire landscape is set to change. If the innovations that tech companies bring to other industries is any indication, the sports betting world will witness some significant changes. They will compete against established international sportsbook operators and likely force these operators to compete in new and innovative ways to increase market share. Data driven companies will also compete for that same marketplace.
While predictive technology is gaining ground, it may be a few years to implement a global sports betting network. With tech companies entering the sports betting world, who knows what new advantages or profit making techniques they will provide. It is all in the algorithm as the new saying goes. Sports analytics is more refined with better detailed information to uncover NFL betting trends, NBA total trends or solid MLB picks.
- The U.S. online sports betting market – post-legalization – will be the largest in the world and will energize the entire global market of sports betting.
This year, 97% of the 4.5 billion bet on the Super Bowl were placed illegally. This is nothing new as detailed investigations by The New York Times and Congress shows how bookmaking sites operate in the U.S. under the legal radar.
The U.S. Congress has begun reviewing federal laws regarding gambling and will likely introduce legislation relating to online sports betting. The US Supreme Court has delayed its ruling on the federal ban on sports betting outside of Nevada, Delaware, Montana, and Oregon. New Jersey sued to overturn the ban for its Atlantic City casinos and horse racing tracks to offer sports wagering for NFL betting and other major sports.
Even though sports betting is widely legal around the world, a legalization bill by the U.S. Congress or a US Supreme Court favorable ruling will shift the online sports betting universe into a higher gear. A shift to a higher level of sports analytics and better data output is riding the coat-tails of a possible legalized betting platform to enhance a bettors involvement and secure its importance to the process. NFL betting will lead the way.
The future growth of a data driven sports betting industry will provide betting trends
A widespread fully mature online sports betting market in the U.S. would be the largest such market in the world, according to research from the industry trade publication GamblingCompliance. When the U.S. gets to that point, sports betting will have changed from the way bets are placed, what games and events are the most popular to bet and who is taking the bets. More sports data analytics service providers will support bettors with in-depth handicapping tools.
- Pro sports leagues want public bettors
The NFL, NBA and NHL have deals with Sportradar, a Switzerland-based conglomerate that is the parent company of Betradar, a major player in the global sports betting industry. Major League Baseball has partnered with Genius Sports, a multi-faceted gambling data firm located in London. Even the NCAA has a commercial affiliation with Sportradar, with the Pac-12 conference using the services of CG Analytics, a subsidiary of a prominent Nevada sportsbook. NCAA football picks and betting trends have become a favorite betting system for all bettors.
These partnerships represent a profound shift in the leagues’ position on line monitoring, the task of tracking gambling data in an attempt to identify unusual moves or unnatural money. The integrity of any sport is a major reason to oppose regulated sports betting.The ability to track statistical data and closely monitor sports through high tech software is prevalent. The old style concerns were relevant a few years ago but have faded with the high tech digital watch dog techniques. It will never be 100% foolproof but is a great deterrent.
With better safeguards in place to counteract any suspicions, the sports betting industry is becoming more self-regulatory with better technology and ongoing support.