Math and Online Sports Betting Mashup

Published Thursday, February 06, 2014 -
Math and Online Sports Betting Mashup

Mathematics has a lot to do with gambling on sports and especially it has been revealed on tennis match outcomes. The interest in gambling on tennis has become big business for those who think they can figure out who’s going to win and who is going to lose.

According to a Business Insider report Elihu Feustel who works with a computer programmer relies on an algorithm he created using data from 260,000 matches to place about 30 bets a day. The gambler’s aim is to see a two percent return on his wagered investment per year. This new method of betting doesn’t include watching the games or knowing who’s who in the tennis world.

After calculating the various aspects of player performance such as the speed of serves and the point break conversions the model Feustel has created is employed and bets are placed on BetFair in the United Kingdom or Pinnacle Sports regulated and licensed by the Caribbean island of Curacao.

BetFair,  is a betting exchange where bets can be placed against other gamblers. BetFair matched as much as $82 million dollars in wagers on the 2012 match between Novak Djokovic and Rafael Nadal in the Australian Open final. 

Quantitative analysts in the financial industry pour constantly over stocks and bonds, but they also find tennis attractive because of the simplicity of the wagers.  

London’s Imperial College’s associate professor of computing, William Knottenbelt who co-wrote an algorithm for tennis betting says he would have made an average 3.8 percent return on bets on 2,173 ATP matches in 2011. The chief executive officer of Isle of Man-based Global Betting & Gaming Consultancy, Warwick Bartlett, claims there may be as many as 20 professional tennis gamblers betting  similar to Feustel. Australia based Priomha Capital, a sports-betting investment fund makes approximately  $100 million worth of bets per year with the annual return on those bets hitting 28 percent.





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