How bettors and casino gamers are using ChatGpt in online sportsbooks and casinos
ChatGPT puts the full power of AI at our fingertips. The only limit is the user’s imagination — and sports bettors and casino gamers famously put plenty of faith in their dreams. How are they using the landmark AI?
What is artificial intelligence and how does it work?
Artificial intelligence (AI) is a simulation of human intelligence that uses neural networks to analyze and process large amounts of data and is capable of performing certain tasks. Since its inception several decades ago, artificial intelligence has developed so rapidly that today it is difficult to imagine how we managed without it.
Although AI has become commonplace, its use evokes a wide variety of emotions. While some embrace it as a powerful tool, others fear that its capabilities rival that of the human brain so closely that whole professions may be replaced by robots.
In recent years, artificial intelligence has begun to be actively used in various fields, including e-sports, sports betting, and gambling.
In 1997, IBM’s supercomputer Deep Blue defeated reigning world chess champion Gary Kasparov, becoming the first computer to win a match against a world champion. With 10,123 possible moves in a typical game of chess, the game’s complexity made the win a landmark moment in the development of AI.
In 2016, Google DeepMind’s AlphaGo program beat world Go champion Lee Se-Dol in three out of four matches; with 250,150 possible moves in an average game, Go is even more complex than chess.
In November 2022, OpenAI released ChatGPT, letting anyone, anywhere, harness the power of AI for calculating odds, strategizing, and quickly solving tasks of immense complexity. With the capacity to assess any situation, analyze the available options, and weigh all possible outcomes in the snap of a finger, ChatGPT gives the user an obvious edge over any kind of game.
Step one — what is sports betting?
Sports betting is the act of predicting the outcome of a sporting event in which participants predict the outcome of sporting events and place bets on their predictions.
Sports betting is a timeless hobby that only gains in popularity as time goes on, attracting millions of bettors around the world interested in either heightening the excitement of watching a game or trying to supplement their income with some extra cash.
The opening of online bookmaker sites and portals has made it possible to bet on sports at any time of the day. By using artificial intelligence in sports betting and casinos, these services can increase the accuracy of event analysis and improve the rating of the services provided.
So, interest in betting is constantly growing, and modern technologies are increasingly part of the mix. So it’s no wonder that bloggers and YouTubers are posting about their experiences using ChatGPT for (primarily) sports betting and (less often) casino gaming.
Sportsbooks have long used AI for data feeds and odds setting. How will the advent of widespread AI access change the sports betting landscape? Can ChatGPT help sports bettors and casino gamers, and what can casinos and sportsbooks do about it?
How can sports bettors use ChatGpt?
Betting is a numbers game. For avid bettors, choosing a winner is only half the thrill; their joie de vivre comes from pitting their idea of the odds against the bookies’.
Given ChatGPT’s knack for arithmetic and ability to gather data at blinding speeds, it’s no wonder that sports bettors sat up and took notice as soon as the technology was available; surely AI would give them an edge on the bookies.
But why speak for someone capable of speaking for themselves? Here’s a rundown of how ChatGPT can help sports bettors for free, straight from the horse’s mouth:
ChatGPT, as an AI-powered chatbot, can help sports bettors in several ways:
- Provide real-time insights: ChatGPT can analyze large amounts of data in real-time to provide bettors with up-to-date information and insights about teams, players, and events in any sport (football, basketball, hockey, tennis, etc.). This can help bettors make informed betting decisions.
- Offer personalized recommendations: ChatGPT can learn a bettor's preferences, betting history, and other factors to provide personalized betting recommendations that are tailored to the bettor's individual needs.
- Analyze past performance: ChatGPT can analyze past performance data for teams, players, and events to identify patterns and trends that can help bettors make more informed betting decisions.
- Monitor odds and lines: ChatGPT can monitor odds and lines from multiple sportsbooks in real-time to identify the best betting opportunities for bettors.
- Provide betting strategies: ChatGPT can provide bettors with betting strategies and tips that are based on historical data, trends, and other factors. This can help bettors make more profitable betting decisions.
- Overall, ChatGPT can help sports bettors save time and make more informed and profitable betting decisions by providing real-time insights, personalized recommendations, and analytical tools that are tailored to their individual needs.
However, this list might be a little overconfident. Aside from the fact that ChatGPT is only as useful or creative as the user’s dedication to prompt engineering, it usually insists it’s incapable of covering real-time odds when you actually ask it to do so and only offers predictions with much reservation.
There’s also the fact that as a generative pre-trained transformer, ChatGPT is a language model, not an all-seeing mystic with a crystal ball (tip: ignore YouTubers who claim it can pick winning lottery numbers).
Still, sports bettors are using ChatGPT in two main areas: prediction/analysis and strategy.
Obviously, ChatGPT doesn’t know who’s going to win the next Champions Cup. For now, the free version of the chat only knows information until January 2022, (which obviously excludes the future) though you can feed it any relevant information after that.
But AI is no stranger to predicting sports events.
With full access to all relevant data, ChatGPT can go toe-to-toe with the best sports analysts out there. Based on a team’s recent history, as well as the history of any two given teams in a match and a few other factors, ChatGPT can predict which of them will come on top.
Will AI make it easy for anyone to predict the outcome of sporting events, such as the probability of an English Premier League player winning the Ballon d'Or award or accurately predicting the results of the Euro 2024 championship?
Let's conduct a little experiment.
If, for example, you wanted to know whether Barcelona will beat Real Madrid on April 21, 2024, you would have some work ahead of you, feeding the bot every ounce of information it needs. Sometimes it works, sometimes it doesn’t, but if the bettor provides a very well-engineered prompt with detailed instructions, ChatGPT could theoretically spit out a recommendation.
There’s only one way to find out.
Act like a sports analyst. Collect head-to-head statistics between Barcelona and Real Madrid in the Champions League. Take into account the fact that in the last five matches in the Spanish Super Cup, Barcelona won 4 times and lost once. Likewise, consider that in their last five matches, Real Madrid have won 4 times and drawn once. Based on this information, predict who will win the match between Barcelona and Real Madrid on April 21, 2024 and how many goals will be scored.
ChatGPT returned this answer:
- In the Spanish Super Cup, Barcelona has been in fine form, winning four out of their last five matches and suffering only one defeat. On the other hand, Real Madrid has also been impressive, securing four victories and a draw in their last five outings. These statistics indicate that both teams are in good shape leading up to this crucial Champions League encounter.
- Looking specifically at their head-to-head encounters in recent times, Barcelona has had the upper hand in the Spanish Super Cup, winning four out of the last five matches. However, when it comes to the Champions League, the dynamics can be different, and past performance may not be the sole determinant.
- Considering the current form of both teams and the unpredictability of football, it's challenging to make a definitive prediction. However, let's analyze the goal-scoring trends. Barcelona has shown proficiency in finding the back of the net, especially in the Spanish Super Cup, where they have been prolific. Real Madrid, too, has been solid in front of goal, securing victories and maintaining a good goal-scoring record.
- Predicting the outcome of a particular match, especially in football, can be difficult due to various unpredictable factors. However, based on current form and recent statistics, I expect a tight match with both teams finding the back of the net.
- Predicted result: Barcelona 2 - 2 Real Madrid.
Not a very strong recommendation, and furthermore, perhaps not very different from what a layperson — let alone a habitual sports bettor — would decide, given the information involved. Here, the utility of ChatGPT comes in more as an ability to gather data. And, after a more extended conversation, ChatGPT changed its prediction:
- Looking at the recent history of clashes between the two teams, Real Madrid's convincing 4-1 victory in their last encounter suggests they have a psychological edge. However, considering the dynamic nature of football, we must also factor in the recent form of both teams.
- In the Spanish Super Cup, Barcelona has shown resilience, winning four out of their last five matches and suffering just one defeat. Real Madrid, on the other hand, has been consistent with four victories and a draw in their last five matches.
- Now, let's consider goal-scoring patterns. Barcelona, despite the loss in the Spanish Super Cup, has displayed an ability to find the back of the net consistently. Real Madrid, with their recent 4-1 triumph over Barcelona, have showcased their offensive prowess as well.
- Predicting the outcome of a specific match is always a challenge, but based on the provided information, recent form, and the fact that Real Madrid secured a convincing win in their last encounter, one might lean towards Real Madrid as the potential victors in this Champions League clash.
- As for the goal tally, considering the attacking capabilities of both teams and the recent history of high-scoring matches, we can expect a relatively high-scoring affair. A scoreline like 3-2 in favor of Real Madrid could be a reasonable prediction.
It begs the question: aside from whether or not ChatGPT can make predictions, would a savvy sports bettor even use it? And if ChatGPT’s capabilities depend on the information the user feeds it, how could you possibly know if you’ve fed it enough of the right info?
In other words: so ChatGPT can make predictions. But doing something and doing it well are two different things. Is it accurate?
Well, it’s certainly accurate enough for the bookies themselves, and numerous studies dating back to the 90’s have found AI predictions to be as much as 75% accurate. Using AI for predictive modeling has become a standard practice for sportsbooks, and quite simply, now that ChatGPT is out, punters will certainly be making use of it. As Deep Blue and AlphaGo have proven, the human mind is no match for AI when it comes to strategizing.
Now, all that's left is to wait for the final results of the match and assess the accuracy of ChatGPT's predictions.
ChatGPT’s other major application is betting strategies.
This can be simple, such as generating a list of betting strategies for you to choose from. Or it can be very involved, such as creating a bot for arbitrage betting (which one YouTuber has actually done).
Arbitrage betting involves seeking out two bookmakers with different odds on a single match and placing bets on both sides so that you profit no matter who wins.
Arb betting is traditionally the purview of sports fanatics with superior math skills, who can quickly scan spreadsheets and pick out the sets of odds that work in their favor. Now, though, ChatGPT can do all the heavy lifting; in fact, YouTuber Siraj Raval even used ChatGPT to create an app for arbitrage betting, complete with plug-ins for sports data APIs. Punters no longer need an advanced degree in mathematics to try and take advantage of bookmakers.
Learn more about our unified solution for fast gaming content integration
ChatGPT often demurs when asked to grab live data, but with the proper coaxing and the right API, it could fetch live odds during matches to help bettors pit their wits against the bookies’ line.
Issues with using Chat GPT in betting
One of the main challenges of using Chat GPT in betting is that while it has the ability to generate information based on a vast amount of data, it may not always adequately analyze the current situation. The algorithm might overlook crucial factors like player injuries, changes in team lineups, weather conditions, and other aspects that can significantly impact the outcome of an event.
Furthermore, chatbots can be vulnerable to manipulation by users. Malicious players may provide false information to manipulate the algorithm's predictions, potentially leading to financial losses for those involved.
How can casino gamers use ChatGPT to play?
While ChatGPT’s sports betting recommendations can be pretty freewheeling, it’s a different scenario when it comes to casino table games.
Take blackjack, for example.
Blackjack is a simple game. Either ask the dealer to deal you another card (“hit”), stay as you are, or split (splitting is when you have two cards of the same value which you “split” and play as two separate hands). The decision of whether or not to have the dealer give you another card is where the “skill” comes in. Also, AI can tell you when to double down and when to split.
Deciding to hit, stay, or split depends on your hand and the dealer’s visible card. While a memory champion might have a complete probability table at hand, mere mortals can turn to AI, report their current hand and which card the dealer is showing, and get a recommendation for what move to make.
AI could have a similar application for poker, though trying to use it to play slots, roulette, or baccarat would be misguided. For those, the best use of AI would be to search for casinos with high-RTP games and favorable bonuses quickly.
However, ChatGPT does stop short when it comes to what it regards as “unethical” behavior, meaning it’ll stop short of leading bonus abusers to easy targets.
What can casinos and sportsbooks do?
The AI arms race leaves casinos with no choice: fight fire with fire.
Luckily, high-quality sports betting and casino platform software often comes with the modules companies need to block scammers from taking advantage of them. With the right AI-powered security tools, they can:
- Analyze unnatural betting patterns
- Segment players according to suspicious behavior
- Take necessary actions
- Analyze traffic for spikes in volume and multiple “bettors” coming from the same IP address
- Flag bot-type behavior
Bot-type behavior includes actions that are suspiciously smooth or efficient, like placing large numbers of bets in a row or placing a bet immediately after logging on.
What is the best strategy in sports betting?
Both beginners and longtime bettors should pay careful attention to their sports betting strategy. The choice of strategy involves considering multiple parameters.
First and foremost, players should approach the betting process responsibly, taking the associated risks into account and conducting a thorough analysis. Players will look for high-quality data feeds, so make sure your platform offers them.
When evaluating a team's performance, consider not only its current form but also the statistics of previous matches. Therefore, before placing any bets, regardless of the sport (football, basketball, tennis, etc.), players should organize their knowledge about teams and start by analyzing their past performances. Also, pay attention to game forecasts published by experts before each match.
Players should also manage their bankroll by setting betting limits. They also need to stay up to date; monitoring changes in betting odds can increase their chances of success, so they’ll want to receive notifications about the latest changes in odds so they can stay informed and respond promptly.
Maintaining discipline and consistency in decision-making is extremely important. A thorough analysis of events and careful selection of strategies can lead to consistent results in the world of betting and gambling.
Pros and cons of using ChatGPT in betting
Let's examine the advantages and disadvantages of using ChatGPT for sports betting predictions and tips.
- Data analysis: ChatGPT has the unique capability to process large amounts of information and identify key trends. This enables the AI to provide significant assistance to players by analyzing team statistics, lineups, previous matches, and other factors, thereby improving the quality of predictions.
- Reaction speed: With instant access to data and fast analysis, ChatGPT can provide real-time information about the current situation. This is particularly beneficial in live betting, where timing is crucial.
- Automation: The use of artificial intelligence can simplify the decision-making process for players. By utilizing ChatGPT, players can save numerous hours that would otherwise be spent manually analyzing statistics.
- Training limitations: Despite its impressive database, ChatGPT may not always consider the latest changes in team compositions, player form, and other factors that can significantly impact the outcome of an event.
- Unaccounted-for aspects: Artificial intelligence may not always consider non-standard situations or intuitive decisions, which can be important in sports betting. At times, decisions based on human experience can be more accurate.
- Risks of technical failures: There is always a risk of technical failures or unexpected issues with the functioning of artificial intelligence, leading to data loss or incorrect recommendations.
Frequently asked questions
Users who are interested in new technologies in the betting and casino category often have questions about the capabilities of artificial intelligence. Let's take a look at some of the most frequently asked questions:
Are there any AI other than Chat GPT that players might use?
In addition to Chat GPT, there are other technologies that players might use in predicting the results of sporting events. Here are a few examples:
- BERT (Bidirectional Encoder Representations from Transformers): This model is trained to understand the context and meaning of words in text. It can be useful for analyzing news, articles, and updates related to sports or events in the casino world.
- LSTM (Long Short-Term Memory): LSTM is a type of recurrent neural network that is well-suited for working with sequential data. It can be used to forecast time series, such as changes in betting odds.
- Random Forests and Gradient Boosting Machines: Although not neural networks, these ensemble machine learning methods can be effective for analyzing betting data and making predictions.
Can artificial intelligence analyze players?
Yes, artificial intelligence can analyze player behavior and characteristics. Here are a few ways this can be implemented:
- Player behavior analysis: Artificial intelligence systems can analyze gaming behavior data, such as bets, strategies, game preferences, and frequency of participation in various events.
- Identification of risky gambling behavior: By utilizing betting history and gaming experience, artificial intelligence can help identify potential problem gambling behavior and suggest interventions to manage it.
- Personalized recommendations and predictions: AI can analyze player preferences, successful strategies, and individual play styles to provide personalized recommendations for improving the gaming experience.
Are neural networks capable of making accurate predictions?
Neural networks are capable of making accurate forecasts based on probability recognition. However, it is important to remember that they are not exempt from the possibility of errors.
As a result, the use of artificial intelligence, including Chat GPT, in sports betting provides assistance and opens up new prospects for players. It offers additional tools for data analysis and strategy improvement, making online betting more technologically advanced and interesting.
To learn more about how Slotegrator's online casino and sportsbook platform leverages AI to benefit your business, contact us for a free consultation.
How can Slotegrator help?
To keep up with technological progress, Slotegrator integrates AI into its business solutions.
In our gaming platform, the Artificial BI module utilizes AI for business analytics. This module provides operators with immediate access to important website analytics, including metrics such as GGR, unique players, marginal profit, and the number of active users during any chosen timeframe (day, week, month, quarter, or year).
Additionally, we have incorporated ChatGPT into our platform. This feature can guide operators on strategies to enhance revenue generation in their projects, among other topics.
Learn more about our turnkey online casino solution for gambling businesses.