The gaming operator is using AI to provide predictive choices for sports bettors
Tabcorp, Australia’s leading gaming company, shared its plans to implement artificial intelligence (AI) as a driver to further strengthen its sports betting business, taking the lead from major rival operators in the area, such as Sportsbet and Ladbrokes. This is a clear example once again of how the betting industry is taking great advantage of AI to further develop into a very innovative future.
According to reports, the multi-billion dollar sports betting and lottery group will put in place an AI-based program that will be responsible for carrying out computer simulations to predict the likely outcomes of US football matches, something that comes at a perfect time with just weeks to go before the NFL season kicks off. With the implementation of a program like this, the hourly trader will be able to place bets on more elements of each game. Although Tabcorp has long been recognized as Australia’s largest gambling company, the company has begun to lose traction in the market after competitors such as Sportsbet decided to increase their level of service. However, it is quite possible that Tabcorp will be able to put its enlarged footprint back on the market after investing in the advanced AI program. With this, the company now intends to consolidate its market position after splitting its sports betting and lottery units into two individual publicly traded companies.
With the program, it is now able to process data points from important matches and run up to 10,000 simulations per second to determine the possible performance of teams and players. Tabcorp’s general manager of trading, David Beirne, says that with this program, the number of betting markets for individual NFL games would double and that this would be a perfect opportunity to expand the range of NFL products offered by the company, which would result in huge profits.