The Role of Artificial Intelligence in Sports Betting
Artificial Intelligence has become a massive factor. So much so that it has begun to instill itself into the sports betting industry. AI in sports betting starts with language models like Chat GPT and Google’s Bard. The technology hasn’t gone to the point where predictive AI models can for sure choose a winner. The tech is advancing rapidly, though. Check out what sports bettors must know about how AI is reshaping how we wager.
How AI Will Help Sports Bettors Make More Winning Wagers
It’s all about prompt engineering
In artificial intelligence, it’s all about the questions we ask. The skill, called prompt engineering, has also been described as part art. The reason questions are important is that all AI language models work off prompts.
For example, if we ask Chap GPT something, the AI does the best it can to answer the question. When it comes to sports betting, asking the right questions is paramount to getting the correct answers.
Ask the right questions and sports bettors will get the right answers
Let’s say you have opened a Chat GPT and you want to know which team will cover the spread in an NBA game between the Grizzlies and Celtics. You ask Chat GPT, “Which team will cover the spread in tonight’s Grizzlies versus Celtics game.”
Chat GPT will provide the following response: “As a language model, I do not have the ability to predict the outcome of future events such as tonight’s Grizzlies versus Celtics game.” Then, Chat GPT, or any language model based AI, is likely to discuss the variables associated with sports betting.
However, if you ask follow up questions, something like, “How many times have the Grizzlies covered the spread when Ja Morant doesn’t play?”
Prompts is where the power will be for sports bettors and AI. The crack in the prediction window will come from asking the right questions.
AI sports betting won’t win every bet, but the suggestions will be more in tune with statistical realities
Although AI language models can’t predict which team will win a game or cover the spread, they can predict which team is likely to score more points in the game. Again, it comes down to how we ask current AI like Chat GPT and Bard questions.
We could ask something like, how many touchdowns has Aaron Rodgers thrown versus NFC East opponents? The AI might struggle to find the answer. Or it could find it right away, which brings us to an important point.
Ask questions like each is a building block
When working with AI language models to make informed betting decisions, it’s important to ask questions like you’re building a house. Each question should lead to a more nuanced question.
Keep asking and experimenting with your prompts until you receive the information you desire. One thing to note, is that Bard and Chat GPT may chastise you if it thinks you are asking something about sports betting.
So if Chat GPT explains to you the legality of sports betting, don’t worry about it. It just means you must engineer different prompts.
AI prompts to help make betting decisions will be a powerful tool in a handicapper’s arsenal
Some developers have coded advanced sports betting bots that work off Chat GPT. Those bots supposedly pick winners at 70%.
That may not always be the case, though. As handicappers, we should think of AI as another tool in our bag of sports betting tools. Chat GPT, Bard, and language model AI like it can’t predict the outcomes of sporting events, but it can sure help us determine which bet offers the most value and provides the likeliest outcome.
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