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Microsoft's Bing Predicts Picking Sports Winners

Friday October 9,2015 :  SPORTS BETTING SUCCESS THROUGH "THE WISDOM OF THE CROWDS'.
 
Microsoft's Bing Predicts artificial intelligence shocks the bookies.
 
Artificial intelligence has been disturbing gambling consortiums in Las Vegas, the publication Extreme Tech claims, reporting that Microsoft’s AI engine, Bing Predicts, recently bested the Las Vegas odds in predicting winners for week one of the NFL season.
 
It wasn't a flash in the pan, either; the system correctly predicted the outcomes of all 15 games in the 2014 Brazil World Cup knockout round and almost all the results of the 2015 Academy Awards, including the winners of best picture, best director, best actor, and best actress.
 
Bing Predicts was able to pull off these impressive feats, besting professionals in the business, due in part to a "wisdom of the crowds" approach.
 
In predicting NFL winners, the system not only takes into account diverse variables such as a team’s previous margins of victory, player statistics, stadium surfaces, weather conditions, but is capable of quantifying aggregate sentiments on the social web.
 
Extreme Tech reports: "By tapping into social media and digesting the opinions of thousands, if not millions, of Twitter and Facebook users, the AI can pick up intangibles that defy even the most hardcore of human statisticians. For instance, the model might detect a rumor among Twitter users that the Patriots starting quarterback just had a fight with his wife in the wee hours before Sunday’s game and hence is less likely to be at the top of his form.
 
"While such rumors may prove to be unfounded, they have a core of truth enough of the time that they give the model a statistical advantage. In precise terms, Walter Sun, who heads up the Bing Predicts team, found that analyzing this so-called “wisdom of the crowd” actually increases the accuracy of their predictions by 5 percent."
 
Extreme Tech poses the question: can professional sports gambling, and for that matter other industries that involve a form of prediction and betting in the looser sense, survive in a world where a Silicon Valley corporation holds the highest card in the deck?
 
"Notable among these are the fields of insurance and commodities trading. If Microsoft or another one of the Silicon Valley behemoths that are developing cutting edge AI can leverage their advantage in the prediction business to outgun the industry leaders in some of these fields, they wouldn’t have to wait long to achieve supremacy in the market," the publication speculates.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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