Since the repeal of PASPA in 2018, numerous US states have been quick to establish their own betting markets, tapping into the surging demand for sports wagering. As more Americans engage in placing bets, there’s an increasing interest in innovative methods that can potentially enhance their odds of success.
For some avid sports enthusiasts, the excitement lies in using their sports knowledge to make informed bets. However, others are more interested in securing wins by any means necessary. With advancements in technology, particularly artificial intelligence, there’s been a burgeoning interest in utilizing AI for betting guidance, transforming this idea into viable business ventures.
Despite the promising potential, tech news outlet WIRED cautions that AI gambling agents may not necessarily guarantee players a significant edge. Companies like Carson Szeder’s MonsterBet are pioneering the use of AI-powered tools to assist bettors in maximizing their wagers. Szeder, with a background in computer science, has utilized technology to develop sophisticated betting algorithms that have turned small stakes into substantial winnings. He remains optimistic about MonsterBet’s future, offering clients a service for a $77 monthly subscription. Szeder claims his solutions improve a player’s winning chances to about 56% to 60%, compared to the standard 52% industry average.
The concept suggests that technology could redefine player interactions with sportsbooks, but Szeder isn’t alone in pursuing this vision. Rithmm, a Massachusetts startup, markets its AI gambling agents at $30 per month, while JuiceReel offers similar services for free. Even established players like FanDuel have ventured into AI with Ace, a chatbot designed to assist users in making betting picks. Nonetheless, FanDuel and others hesitate to allow AI-powered systems to independently place wagers for users, leaving the final decision to the players themselves.
On the other hand, some startups ambitiously explore fully automating the betting process. Blockchain platform Zilliqa experimented with Ava, a solution intended to automate horse race betting. Yet, the execution proved challenging and Zilliqa eventually shelved its automated betting aspirations. Another initiative, WagerGPT, charges $199 monthly for its AI betting service, but some users have expressed disappointment over its effectiveness.
Automating bets presents unique challenges since AI systems cannot directly access traditional banking accounts, relying instead on platforms that accept cryptocurrency. Coinbase’s AgentKit is one example seeking to streamline payment automation. Score’s Sire intends to take automation a step further, converting dollars into stablecoins to facilitate betting, with an anticipated release from beta testing soon.
Memetica also explored currency conversion for automated betting but eventually shifted focus to developing AI agents while leaving the betting execution to the players. While the concept of AI betting agents is still in its infancy, successful implementations could revolutionize the industry. However, WIRED warns players to remain vigilant against scams, as some deceptive actors exploit the AI trend to defraud unsuspecting users.
While the opportunities AI provides are enticing, skeptics question the long-term viability and ethical implications of such technologies. Traditionalists argue that the essence of sports betting lies in human intuition and decision-making, and that over-reliance on AI could undermine the personal engagement that makes betting appealing. Moreover, the regulatory landscape surrounding AI in gambling is still evolving, with potential legal and ethical challenges regarding fairness, transparency, and accountability.
Proponents counter that AI can democratize betting by making sophisticated analytical tools accessible to the average player, leveling the playing field. They argue that the objective analysis provided by AI can complement human intuition, leading to more informed decisions and potentially higher returns. Additionally, AI’s ability to process large datasets quickly and identify patterns can offer insights that may not be readily apparent to human bettors.
As AI continues to develop and integrate into various sectors, its role in sports gambling remains a contentious yet intriguing prospect. The industry stands at a crossroads, where innovation meets tradition, and the outcome could reshape how future generations engage with sports betting. Whether AI emerges as a transformative force or merely a supplementary tool will depend on technological advancements, consumer acceptance, and regulatory frameworks that balance innovation with ethical considerations.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
