Artificial Intelligence (AI) has recently helped us to make huge advances in several areas. From smart cars to better online banking and gaming, there appears to be no limit to the ways in which this technology can improve our lives.
In terms of horse racing, how can we expect AI to help us predict results?
The Use of a Huge Amount of Data
One of the massive advantages that current horse racing fans have is that there are now large amounts of data available on the subject. You can look online for everything you need to know about the horses and jockeys taking part in a particular race you are interested in.
You will see their recent results, what kind of conditions they perform best in and all of the other relevant details that you could possibly imagine. Given all of this, it should be pretty easy to predict the winner of the Breeders Cup or the Kentucky Derby, right? So why is betting on horse racing not something that everyone carries out successfully?
The main issue here is that there is just so much data to look at and decide upon. Most people simply can’t retain all of the facts and figures that are thrown up when they investigate a race. This is why a lot of them create spreadsheets or other tools to help them to filter the information in a make that is easier to make sense of.
AI can do this far better than a human ever could, as one of the things it is perfect for is analyzing and interpreting vast amounts of data. When programmed correctly, it will sift through all of the necessary data and make smart conclusions about what to do.
The Question of Timing
The other important point here is that timing is crucial to any betting strategy. Simply betting on the favorite will often result in a win, but the favorite may change in the run-up to the race as the odds shift. Therefore, it is vital that you put on your wager not only on the right horse but also at the right time.
Trying to get this perfectly right proves to be impossible for humans, as you would need to constantly look out for trends and keeping an eye on all of the bets being placed that might cause the odds to move one way or another.
The way that AI can help in this respect is by constantly monitoring the market and looking for opportunities. By giving the system a set of pre-defined rules, it can work out when to place a bet for the highest possible chance of winning.
Does This Type of Software Exist Yet?
You might wonder when you can use this type of technology to win regularly at horse racing. Well, at the moment a lot of this is still theory and not something that you can put into practice. There is no doubt, though, that a lot of developers are currently looking at producing something like this.
The technology and the knowledge needed to create an AI system to predict horse racing results exists, but it is still too early to say if it would be as successful as suggested. This is a sport in which the favorite doesn’t always win and unpredictable things can happen. A long period of testing would be needed, to see if it was capable of producing sustainable results.
Technology will have a part of play in the future of sports like horse racing, just as it has affected so many areas of life already. You can already check live events and bet on the spot from anywhere around the world.
For example, you can be in Australia and check Arlington Park Entries and Results updated live for all races happening in that American racetrack.
So, it seems certain that technology will be helpful and horse racing will carry on being the same enjoyable sport that has captivated the public for centuries.