AI became popular in the mainstream media in late 2022. This was when platforms like ChatGPT became widely available, and people realized they could use it for many different things. Today, the situation is much different because there are many different AI tools out there, some of which are designed to help us with online betting.
The data from www.jaxkidsdirectory.com reveals that ChatGPT’s app was downloaded a total of 111M times between May and December 2023, meaning millions worldwide use AI for various things. “While it is true a lot of people rely on different AI tools for their daily jobs, others try to maximize their profits while betting online. Reading betting tips will soon become a thing of the past because AI is taking over this space as well”, said Kristiyan from NB.
But how do people leverage AI for online betting, and what will they focus on in 2024? Despite the fact that this is one of the fastest-changing businesses, we will try to provide you with several tips that will help you achieve better results, so let’s begin.
Go through AI betting tips
The first online betting tips became available many years ago. Back then, some people realized they had more experience than others and decided to share it with users interested in betting. Today, you can find many different betting tips from experts that focus on a variety of sports.
Even though some of these tipsters are good at what they’re doing, today, more and more bettors prefer using AI tools when wagering. Besides the general ones that most of us are aware of, there are specific AI tools that are used by gamblers worldwide. Some work better than others, but the most advanced alternatives will run hundreds of thousands of simulations for the given event based on previous data and provide you with a possible outcome and the results for the given match.
Like ChatGPT, these AI tools are improving over time, so it’s no surprise that some bettors are not ready to trust them with their money yet. Having said that, this will change in 2024 because the AI tools do not only specialize in football and tennis (the two most popular sports). In fact, you can find betting tips for literally every sport in existence.
Since AI keeps improving over time, it will have access to more data and process even more information in the future. One day, people will rely solely on it.
Try to Use AI tools to analyze the odds
Besides providing betting predictions, you can find AI tools that specialize in sports betting odds. These instruments work in two ways. First, they analyze all of the odds offered by different gambling websites for the same market, and second, they will alert you when some companies have overpriced odds.
The idea of these AI tools is to save you time because you do not need to go through every online bookmaker. Furthermore, you can instantly tell whether a sports betting operator will be good based on its odds level. After all, the companies that offer overpriced odds will not be as good as those that do not.
One thing to remember about these AI instruments is that they are usually paid. Fortunately, most of them come with a free trial, allowing you to explore what they offer. This is good news because you can test it and see if it is worth the price.
Use Risk-Assessment AI Tools
When people talk about AI and online gambling, most users assume that all tools try to help them achieve the best results possible. This is true, but some exceptions exist, such as the risk-assessment AI tools. Instead of focusing on getting the best return, these options aim to ensure players are safe while betting.
Due to AI’s ability to process data, it can go through your entire bet history and come up with a conclusion. Usually, this is an extremely time-consuming process that takes time and effort, especially if you do it manually. However, thanks to the latest AI tools, you can learn about your gambling risks almost instantly.
Besides being useful for online bettors, the risk-assessment AI can do wonders for gambling operators. They can make different changes to their products or algorithms based on it. Consequently, it’s no surprise more and more operators will start using such things in the future.
Many gambling operators could use AI tools to create personalized features for responsible gambling. This is good for players who do not find the currently available options useful.
Build an AI betting strategy
Besides everything mentioned, new AI tools come into the market every week. Some of the most recent additions offer similar things to what we’ve covered earlier, but they add even more features. One is the ability to create a betting strategy just for you.
Having a betting strategy is a must nowadays because all betting sites have too many options to focus on. Everyone who wagers regularly follows some strategies because they allow users to be more disciplined.
The bad thing about the strategies we are all aware of is that they are general. In other words, they are not specifically designed for a given player, so someone who wants to use them has to adapt. Fortunately, there is no longer the need for that because there are AI tools that will develop a strategy for you.
These instruments work differently, depending on which one you go for. Usually, they will analyze your entire betting history and find what you bet on, the amounts used, and more. Using this data, the AI tool will come up with a plan that will suggest what to wager on.
AI and bonuses
Another aspect of online gambling that many people are interested in is related to bonuses. There are many different promotions to choose from, and some operators keep creating new offers all the time. While it is true that some of them may be useful, users do not know which deal to focus on.
One way of determining whether a given promotion is worth using is by checking its Terms and Conditions. It sounds easy, but the reality is that some offers may have T&Cs that are several pages long. Furthermore, they are almost always written by lawyers, so understanding everything is easier said than done.
Luckily, not understanding the promotions offered by iGaming sites will be a thing of the past. There are AI tools that specialize in online betting promotions. When used, they analyze the complete bonus section and the rules. Once done, the AI algorithm will tell you what you can get from the offer and what could happen.
You will also see real-life examples and a scale of 1 to 10 that will show you whether the promotion is worth using. Needless to say, this tool saves tons of time because users do not need to analyze everything.
Current AI limitations
Even though AI has undergone a massive change in 2023 and will continue to improve in 2024, it is not ready to replace it just yet. Humans create the algorithm, but regarding online gambling, it has its limits.
Since this algorithm does not have feelings, it lacks the intuition that we may have for a given team/player. Sure, it uses endless data to give us betting tips and suggestions, but this does not mean they are always worth it. For now, AI tools lack human judgment and can’t take into account other things that can have an impact on betting, like emotions, transfers, rumours, and more.
Final Thoughts
2023 was crucial for AI, but we expect 2024 to be even better. The number of AI tools we have access to now is impressive, and it will continue to grow in the future. Besides online betting, AI already affects multiple other industries, and things will keep getting more optimized. We suggest keeping up with everything new in the industry. This is the only way to stay one step ahead and utilize the latest tech.
