The Huge Piles of Data That Powers the Sports Betting Industry

hoaict - Sep 07, 2021


The Huge Piles of Data That Powers the Sports Betting Industry

This is made by massive piles of information collected and organized by specialist companies that, without exaggeration, power the sports betting industry.

When you head over to Vwin to check out the EPL football odds today, you expect to be greeted with odds and predictions based on more than enthusiasm or a hunch. The bookmaker you visit doesn’t want to gamble either (even though this sounds a bit ironic) - it needs odds that will ensure that it (a company) will not lose money and can continue to provide its services to punters around the world. This is made possible by massive piles of information collected and organized by specialist companies that, without exaggeration, power the entire sports betting industry.

Huge piles of data

Sports betting is not ‘gambling’ in the strictest sense of the word. The outcome of a football match in the Premier League can be predicted pretty accurately, provided the one that does the predicting has enough information to work with.

The odds posted on the bookmakers’ websites are not random by far - they are the result of careful calculations that take into account a variety of factors. These factors range from the records of individual players, officials, and coaches to the hour of the day, the altitude, even the weather at the location of the upcoming match. Because all these can bend the probabilities one way or the other.

In most cases, the bookmakers are not the ones doing these calculations - why should they, when they have specialized companies that can do it for them. They are the ones with the huge piles of data, not to mention the skilled people to make the most of them.

How huge, you might ask? While it’s probably far less detailed than what commercial services provide their paying customers, a look at the data available free at TheSportsDB might give you an idea about its sheer size.

Sport Betting
Sports betting is not ‘gambling’ in the strictest sense of the word.

Beyond betting

Make no mistake, the information available through these companies is useful in more than just sports betting. A series of publications - general news outlets or specialized sports papers and portals - make use of the information available here to better inform their readers and viewers about the upcoming events.

SportsDataIO, for example, that’s one of the leading suppliers of sports information, covers more than just betting odds and predictions - it also has reputable sports outlets like The Athletic, Fox Sports, Sports Illustrated, and Microsoft on its client list, along with betting information providers like The Better Collective network or The Action Network. These outlets have access to SportsData’s databases and services - usually related to prediction and news coverage - through APIs and products based on them provided by the service itself.

While betting on sports may sometimes feel like just another form of gambling, it’s not - behind the scenes, there is a huge network of interconnected databases that serve as a basis for every prediction and all odds published.

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