According to the Nevada Gaming Control Board, last year, the total amount of sports wagers in Nevada were about $4.5 billion. With so much being at stake, punters are turning to more sophisticated tools which involve complex data analysis to get the best possible odds.
The first thing that comes to your mind when we say sports betting is probably a vision of people making calls before a particular game starts. However, bets that raised during in-play are on the rise. During last year, 20% of all wagers placed at William Hill’s locations in Nevada were live, which marks a 33% increase from 2015, according to Michael Grodsky, who is the company’s current vice president of marketing.
Thus this is driving the demand for data in real-time. The information can be distributed faster than a TV broadcast since it obviously comes with a multi-second transmission delay.
This is growing as well as an increasingly complicated market that can foster cheating. There are many bookmakers who are relying on technology as well as consultants to try to make sure that the market is fair.
There are businesses which monitor for all types of frauds in gaming. For example, Genius Sports Group Ltd. works with a lot of gambling operators and sports leagues around the world, which helps them track any suspicious activity in the international wagering markets. The company looks at data for deviations from normal movements in the industry.You can read more about courtsiders here