A look at sports data tech companies like Sportradar, which set betting odds for sports gambling apps and websites, as they build models to keep people betting
Big-money data deals and advanced statistical models are helping to predict match outcomes and keep people betting. Bluesky: @cachiporra.bsky.social . X: @jeremy_keehn , @bw , @harmancipants , @samanth_s , @samanth_s , @samanth_s , @samanth_s , and @samanth_s . LinkedIn: Michael Clohisy Bluesky: @cachiporra.bsky.social : This is the most astonishing sports story I have read in my entire life, from one Samanth Subramanian. — The global empire of sports betting is now crashing into the USA and it is incomprehensibly more sophisticated, technical, and profitable than you might possibly imagine. — This is a Malignancy. … X: Jeremy Keehn / @jeremy_keehn : If you've ever wondered how sports gambling apps can set so many odds, so quickly—and just how big the information gap is between them and the average gambler—this fascinating @samanth_s piece will demystify all:https://www.bloomberg.com/ ... @bw : Sports quants are setting the odds behind the scenes for gambling apps https://www.bloomberg.com/... Reyhan Harmanci / @harmancipants : Part of our still-expanding sports gambling package! Fascinating look at how odds get made Samanth Subramanian / @samanth_s : All this data goes into variants of the Poisson distribution, which helps predict events. (Fun fact: the two mathematicians at univs who wrote the foundational paper on Poisson and soccer predictions went on to work for two of the UK's biggest gamblers) [3/n] [image] Samanth Subramanian / @samanth_s : They began with data scouts: people who went to stadiums and relayed the game live back to odds “traders” at HQ. But sports orgs got savvy to the value of the data. Now bodies like the NBA and ATP sell game data to oddsmakers for hundreds of millions. (Enter lawsuits.) [2/n] [image] Samanth Subramanian / @samanth_s : The industry resembles Wall St's quant shops and trading desks far more than bookies at the dog track. Everything about it is wild, particularly the stories. (I didn't even tell the one about the data scout in Siberia.) Here's the whole piece again: https://www.bloomberg.com/... Samanth Subramanian / @samanth_s : These companies have to ensure there's a flood of betting opportunities on bet apps 24/7. To not do that would be like Amazon not having anything to sell in the afternoon. But it has also created huge concern about addiction. [4/n] [image] Samanth Subramanian / @samanth_s : For @BW, I wrote about the little-known companies that set your bookie's sporting odds. They trawl Malawi football, Indian kabaddi, South Korean basketball, and hundreds of other leagues in dozens of sports to provide an unending stream of bets... [1/n] https://www.bloomberg.com/... LinkedIn: Michael Clohisy : Writing for Bloomberg, Samanth Subramanian provides a fascinating glimpse of the companies who help set #sportsbetting odds for bookmakers globally. …