What is Big Data and How it Helps in Gambling Business

After reading this article, I think there are three main ways big data is changing gambling industry.

  1. It helps bookmakers establish more realistic odds

Bookmakers were the first gambling professionals who implemented big data analysis in their work processes. Big data helps them analyze previous games, determine winning and point scoring patterns and establish more realistic odds. A survey conducted by Talented has determined that more than 72% of UK bookmaking customers believe that their bookmaker doesn’t offer them a personalized service

  1. It helps poker players in developing their game strategies

The best way to attract more gamblers to a website is to place the odds more in their favor. This can be done by empowering players with more information that will help them to build an effective strategy. SharkScope is one of the first websites to realize the benefits of big data analysis. They track all major poker tournaments in the world, and enable users to track players’ statistics and use them in their own games.

  1. It helps players predict outcomes

This was proved by Google big data engineers. They used Google Cloud DataFlow to import data and Google BigQuery to analyze it. With the use of these tools they were able to predict the outcome of 14 out of 16 matches of the 2014 World Cup in Brazil. Microsoft was even more successful, they’ve managed to predict the outcome of 15 out of 16 games.


Comments

  1. FernandaJune 26, 2020 at 7:25 AM

    This article is first talking about how bookmakers (person in charge to take bets, calculate odds and pay out winnings) were the first professional gamblers in taking big data in use during their work process. They discover it helps them analyzing previous games, determining winning and point scoring patterns and also establishing more realistic odds, advantages.
    I think it is really interesting recently we discover how big data affects and helps a lot of things and in this case, gambling. While using data gamblers are able to improve their gaming strategies making them more effective. The article also mentions Sharkscope, being one of the first websites implementing the saving data system. Now days Sharkscope is a website that specializes in saving all results from all types of poker tournaments around the world.
    Big data can also help players predicting possible outcomes. This was proved by a group of Google engineers. Is really interesting to know how they did the experiment and the way it was by using Google Cloud DataFlow to import the data and using Google BigQuery in order to analyze it. With this experiment they were able to predict 14 out of 16 matches for the 2014 World cup hosted in Brazil, but in the other hand Microsoft was even more successful predicting 15 out of the 16 matches.
    Big data is a really new thing and I think it can grow a lot, gain importance / recognition among our society and it can also be included in many other different areas and categories.

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