I know a lot of us enjoy the occasional gamble, and this long piece is incredibly fascinating. Lots of details on how oddsmakers use scouts to adjust real-time bets mid-game and even mid-move. This was my favorite tidbit:
The betting is so frenetic that they’re called upon to subjectively assess “dangerous situations.” In soccer, that might start with a forward speeding past the center line with the ball. If the scout concludes that the player is likely to score, they must rapidly advise headquarters to stop taking bets on a goal before others can lay money on one in that brief sliver of time. A premature recommendation can be as bad as a delayed one; the longer the bet stays open, Koerl says, the more the gambler thinks, “I have an edge. I can bet right.”
It's a long article, but absolutely worth the read if you bet or are interested in how betting data analysis works.
@remindme in 3 hours
I want to read this, but I’m too busy gambling to read it now
reply
Thanks for posting. I have always wondered how the odds are generated. One would imagine this eventually is totally AI driven.
reply
Fascinating read. Thank you for sharing!
reply
I couldn't read it completely... but I must say that it is very complete and practical the way they explain it... gambling has always been a fantasy that many fall into and believe they have control... I personally used to go to casinos before... but the truth is that it doesn't benefit you at all!! I was lucky enough to stop that in time and without it causing me so much harm!!
reply