Betting Software & Tools: Sports Betting Algorithms Guide
What Are Sports Betting Algorithms?
Sports betting algorithms are software developed by very intelligent betting experts looking to create an edge against the bookmakers. As the creators themselves tend to explain, they are a way of off-setting the advantage that bookmakers naturally have. They use the developer’s knowledge of technology and sport to try and create a more effective way of betting.
If a developer has been successful in their efforts, algorithm betting will return profits (more often than not) and keep you ahead of the bookmakers. After all, they’ve got a team of experts and some pretty powerful software on their side, right? So what’s the harm in balancing things up a little?
This technological assistance does not come without a cost, of course. You can usually expect to pay for the privilege of using sports algorithm software because a developer will have put a lot of study and time into creating it. If that software works, then what you pay for it will, in time, become a bargain because your winnings will return what you paid for the software plus a whole lot more. That’s the theory, anyway — but is it how things actually work? We’ll look into that in the course of this piece.
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Why Do People Try To Use Sports Betting Algorithms?
As previously noted, when it comes to sports betting the bookies have all of the advantages on their side. They set the odds, and you take them or leave them — it’s up to you. Successful betting is a little strange, in that when you win big at the bookies it is a sign that they’ve made the wrong call. Algorithm betting is a way of finding out when they have made the wrong call and finding which bets have the best chance of coming off.
Sports betting algorithms are not infallible — in the world of sports betting, nothing is a certainty (that’s kind of the point!) — but they do turn some of that advantage back to you by analysing sporting events, probabilities, and odds and showing you where your best chance of a win will be. If the sports betting algorithm software you use is as good as its makers claim, then you’ll be able to take advantage of the bookies’ rare mistakes.
In short, people seek to use betting algorithms because sports betting is uncertain, and anything you can do to swing that uncertainty in your favour is an advantage you’re going to want to take. If you had a way to beat the bookies more often than not, you’d use it, wouldn’t you?
Is Using A Sports Betting Algorithm Legal?
There is nothing illegal about using a sports betting algorithm; after all, it is merely a type of software that calculates probabilities. This still leaves the element of risk with you and does not transgress on any laws. For sure, bookmakers might not be overly pleased to know that you are using it — but given that it doesn’t guarantee you will win anything, it’s really a moot point whether or not they like it.
In the end, that’s the key point. If algorithm betting was guaranteed to return winnings, then it would probably be illegal — because how do you guarantee a win without fixing the outcome? — but as long as it merely gives you an edge, then you’re fine to keep on using it. If you find that it works for you, then you needn’t start to worry about the legal implications. Just don’t shout about it, because if bookies keep getting beaten they’ll start to wonder why and adjust their odds accordingly.
Where Do People Find Sports Betting Algorithms?
As with anything, those who are keen to find a little edge in the betting world are going to look online first and foremost. Some experienced bettors, who are familiar with the quirks of sports betting, may be of a mind to develop their own software to hone the perfect betting algorithm. One thing is for sure, you will not find your choices limited if you are looking online for sports betting algorithms software.
You could try to develop your own algorithm, although those who have done the same warn that it takes a lot of time and a lot of trial and error. If you expect to save money by developing the software yourself, be cautious. You stand a good chance of losing more money through mistakes and teething troubles than you would have spent on using someone else’s model. These simple facts should give anyone pause for thought.
What Are The Advantages Of Using Sports Betting Algorithm Software?
- If sports betting algorithms are as effective as their developers claim, they can help to highlight those rare occasions when the bookmaker is careless in calculating their odds. They seek to highlight the bets that you should make in order to make a profit more often than not. If they work as they should, you will be able to make winning bets more often than someone just relying on their knowledge.
- Algorithm betting is completely above-board from a legal standpoint. This means you are free to experiment with them as you wish. This is because they are based on calculating the probability of an event going a certain way. There is nothing illegal about speculating on the probability of something happening. Illegality only arises when an effort is made to mislead, so algorithms are acceptable.
- Anyone looking for a sports betting algorithm will find that they have plenty of choices. There are many developers working on this kind of software, all of whom make very impressive claims as to the effectiveness of their work. From maths professors to professional gamblers, there will always be someone with an idea on how to get an advantage against the bookies. You can look at the various options on offer and see which makes the most sense to you.
Conclusion: Software that exposes the weaknesses in a bookie’s odds while offering you a range of options, all of which are legal, is no small advantage to have.
What Are The Disadvantages Of Using Sports Betting Algorithm Software?
- Simply put, sports betting algorithms are far from infallible. Which is fine, as they don’t claim to be perfect. However, when you pay for something that promises to increase your chances of successful betting, you are entitled to expect vastly-improved returns. This simply isn’t always the case with algorithm betting. You do stand the chance of spending a great deal of money on something that doesn’t make you any better off in the long run.
- Software developers can be very evasive on what makes their sports algorithm software effective. Of course, they need to protect what makes it unique so they can’t give everything away up front. However, this inevitably leads to them saying “Trust us, this will work for you” with no proof of how it will. They’re asking for a lot of faith from you on the basis of not much information up front — which feels a lot like a gamble.
- If a betting algorithm is any more effective than just making bets on the basis of freely available information, you can be sure it will cost you a pretty penny. This is money you have to part with before seeing any return and without being sure of the software’s effectiveness. Yes, you’re paying for what it promises you further down the road. However, as we already noted, you can’t be sure it will work.
Conclusion: The whole idea of paying for software assistance is to limit your risk — but without proof of effectiveness, paying up front seems a lot like an increased risk from here.
Full Test — Our Experience Using Sports Betting Algorithm Software
In the interests of fairness, we tested a few different brands of sports betting algorithm software just to get an idea of whether they were worth paying for, and whether they actually made our betting more effective.
We approached this test by selecting twenty events over the course of a week, and using the software — we’ll call the models “Option A” and “Option B” — to get the algorithms’ tips on how we should bet. At the same time, we chose to select bets from the same events and compared the success that we had with and without software.
The outcome, we can report, was not good news for the software developers. Option A delivered a winner on seven out of twenty bets — a result of 35%. Option B was more effective, being correct more often than not with eleven out of twenty. Us? Fourteen correct tips out of twenty for a 70% accuracy level.
Now, of course, it is possible to ensure a greater accuracy level by making less risky bets. However, we wanted a realistic picture of using these algorithms, so spread our bets between low, medium and high risk. Even if either brand of software had been right in all the same markets as our predictor, they would have returned less in winnings. By whatever measure you may choose to use, a smart bettor is still smarter, and more effective, than the leading software we tested.
Could we run that test again and get different results? We did — and on the second effort, our staffer was slightly less effective with twelve correct results. At the same time, that was still better than Option A (which went one better than before with eight correct) and Option B which fell to 9/20, or 45% accuracy.
Is Using A Sports Betting Algorithm Worth It?
Be aware that this is simply our experience talking, but from using the leading brands of sports betting algorithm available we found no reason why paying for this software would be a beneficial decision. It doesn’t win you any more bets, the bets you do win don’t return better winnings, and the money we spent on the software would have been better invested in smarter bets. We didn’t need an algorithm to tell us that!
We are prepared to accept that there may be ways technology could be honed to make betting more effective. However, with the huge range of variables involved in sports betting, it’s going to take more time, more money and more people power to find those ways. In the meantime — because we are betting experts and not software engineers — we’ll keep betting based on our instincts and our knowledge of the sports we follow. It’s worked better for us than any software.
We here at Betting.org wouldn’t want to tell you how you should spend your money. What we will say is that we, as a team and as individuals, will not be investing any more of ours in sports betting algorithm software.
What Are The Alternatives To Using Sports Betting Algorithm Software?
When it comes right down to it, there really isn’t much to be said for finding and paying for different tricks and shortcuts to make your betting more effective. If you ever make your money back from what you paid for betting software — and made it by using the software — then well done. That outcome is far from guaranteed, is all we’ll say on that.
So what should you do instead of trying algorithm betting? The answer is simple — you will make more effective bets if you are more informed on the sports you bet on. Yes, getting that kind of information takes time and effort. This is something you can’t short-cut, and anyone who tries to sell you effective betting algorithm software is essentially selling you a get-rich-quick scheme — and those things never work.
Here on Betting.org, we post dozens of betting tips and previews every week. We go into much greater depth than any algorithm can, because we love the sports we bet on and we know them inside out. When we have a hunch, we’re not afraid to back that hunch, because it is based in knowledge of the sport. We’re not betting at random, and we don’t advise that you do so, either — and that’s what algorithms tend to amount to.
What about getting the upper hand on the bookies? Really, that’s all about knowing when they have been too loose with the odds they are offering. It happens — so use our odds comparison tool to see which bookies are being just a little too casual when they set their odds. If you have a hunch and find the odds that make it worth backing, then go for it. You may win, you may not, but just by reading what you have read here you’re already a step ahead of any algorithm.