Machine Learning in Bookmaking – FansUnite – Medium

Let's talk about machine learning in bookmaking for a minute. #fansunitetoken

  • Smart bettors quickly take advantage and the bookmaker shifts the line to equivalate betting volume on either side of a matchup.Similarly, high variance in opinion when the data between two teams is very similar can often lead to poor lines.
  • By polling the crowd with low limits to start, Pinnacle can often limit exposure on early lines and avoid getting picked off on markets by sharp bettors.This novel method of polling the crowd drives lines globally, and it’s no surprise that the default action for almost every sportsbook is to…
  • To produce lines we will use an ensemble of best in class Deep Learning networks, alongside other more common approaches to shape a line up to 24 hours before current markets take shape.At Fansunite.io, the world’s preeminent social token betting platform, we have been actively shaping our risk management strategy…
  • We offer an industry leading 1% margin and will maintain a winners welcome philosophy.The Value to the Betting CustomerOur automated machine approach to setting lines offers the following core value to our customers.Savings we can pass on to our bettors.
  • By using Machine Learning, we can offer real time In-Play betting markets to our amazing customers.Stable Currency: Solid lines offer big rewards to currency and token holders by ensuring that the coin base is not drained by sophisticated traders and demand remains strong for our low margin lines.

Machine Learning is becoming a standard tool of the sports betting industry. At fansunite.io we are keenly aware of this technology and actively incorporating it into our risk management strategy…

Machine Learning in BookmakingMachine Learning is becoming a standard tool of the sports betting industry. At fansunite.io we are keenly aware of this technology and actively incorporating it into our risk management strategy. This is integral in our platform being able to provide a truly winner’s welcome sportsbook.Although many sports betting firms are beginning to build a machine learning stack, the reality is that the sharpest punters have been using machine learning techniques to make money since 2011, when deep learning networks first started to become popular. To combat ever sharper punters, bookies inevitably resort to copying Pinnacle Sports or Betfair opening lines. This is a great strategy because they utilize a model based on high volume which is well known to eliminate inefficiencies in the closing line.Crowd WisdomThe prevalent method to set odds is simply averaging the models of your sharpest customers on inefficient early lines. This is then honed by subsequent increases in volume from less sophisticated bettors until the closing line is reached. The very friendly PinnacleSports media team does an excellent job explaining the process here.The key factor here is that a slow ratcheting up of limits and volume balance out inherent bias and variance in the bookmaker’s lines. This approach quickly reduces exposure (Fig.1). Because of this reduction in risk, they can offer very large closing line limits and welcome arbitrage bettors who are unfairly banned from most online betting sites.Figure 1. Bias and VarianceSometimes a bookmaker’s opening line is inefficient because of bias in the…

Machine Learning in Bookmaking – FansUnite – Medium