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Odds on: Unlocking the potential of AI for esports betting

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Jordan Peltier, Chief Data Officer at PandaScore, says that humans and machines must work together if businesses are to maximise the potential of AI when it comes to esports betting odds.

Artificial intelligence has been one of the most discussed industry topics over the past 12 months and it’s easy to see why. AI can be transformative for operators, suppliers and bettors, and while there are concerns around adversarial AI, when used in the right way, it’s a game-changer.

At PandaScore, AI plays a crucial role in the odds we deliver esports betting operators. This is because it is incredibly effective at handling complex, high-dimensional and unstructured data and finding patterns within it – these patterns are needed to predict the outcome of events.

This, of course, is the foundation needed for determining the odds for each market that we offer. But the power of AI goes beyond this.

It can adapt dynamically to new data which is just not possible with old statistical models like parametric distributions as they struggle to capture the non-linear relationship between variables so require additional manual engineering which takes time and resource.

But does this mean the AI machine is taking over from human trading teams? Absolutely not.

Leveraging the capabilities of AI and combining it with specialist human traders is the optimal approach because you have models that can capture the complexity of esports supported by human traders with a deep understanding of each discipline.

Odds should always be based on true probabilities and while there have been significant breakthroughs in AI – I’m talking about transformer-based models such as Large Language Models – it is still prone to making errors, especially when it comes to forecasting.

Let me explain by way of percentages. AI alone can get you 90% of the way to determining the true probability of an outcome but you need the human specialist trader to get you the final 10% of the way to perfection. And perfection is a must when it comes to odds.

Ultimately, this is what allows operators to offer high-value odds to their customers while ensuring a strong and stable margin from their esportsbook. What’s more, it only takes one small error for sharp, savvy bettors to exploit a mistake and that’s not what operators expect from their data partners.

It must be remembered that AI models are only as good as the data they feed from and still require training. Human traders help in this regard, providing a layer of security for core actions like settlement and odds checking when the model goes off market.

In some instances, the trader will have access to data the model doesn’t see of wasn’t trained on – things like a last-minute change to the player roster.

This is why our human traders are responsible for picking the tournament and market coverage that will most appeal to our operator partners, and our traders are on hand 24/7/365 to support operators in their efforts to offer a top esports betting experience to their players.

The training of AI models is crucial and again sees our trading and data science teams work together during the entire lifecycle of each AI model we build from designing the model to testing and interacting with models in production to ensure they are performing.

This is a virtuous cycle with our data scientists training the most optimal models that prove to be the easiest for our traders to manipulate. Traders also give a ton of deep and detailed feedback which our data scientists can use to improve the models.

The idea here is that the trading team has little input once the model is rolled out and often only make one input per match with the AI model then calculating all of the odds and markets. This ultimate is what powers our BetBuilder and PropBet products.

Having specialist traders for each esports discipline is also important. Each video game is like its own sport and while there are some similarities between some titles, the differences have an impact on the markets and odds offered and that’s exactly why specialist traders are a must.

Take shooter-round based game like CS2 and Valorant and MOBA games like Dota2 and LoL. With the former, there’s a lot of repetition in the gameplay which takes place round after round. This means betting markets are focus on rounds and kills for teams and players.

With MOBA games, there are objectives within the game that have a direct influence on who wins the match – things like kills, towers, nashors, inhibitors and dragons. This is complex – and doesn’t exist in traditional sports betting – and is why pricing teams must master in-game dynamics.

Again, this is something that AI can’t do on its own right now.

AI is a key pillar of our business, and we are incredibly proud of how we have used it in collaboration with our data scientists and traders to create models that deliver top odds for our operator partners and their players.

But working with AI is all about staying ahead of the game and our work is never done. This is why we continue to test, iterate, innovate and do all we can top perfect our models. This would not be possible without our incredible team which stands as a testament as to how machines and humans can work together in harmony.

The post Odds on: Unlocking the potential of AI for esports betting appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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$1M Thunderpick World Championship 2024: Teams and Finals Details Announced!

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Thunderpick World Championship 2024 Announces Finals Dates and Teams

HEROIC, M80, Fnatic, and Falcons Among Teams to Compete for $1,000,000 Prize Pool in Championship Finals Commencing on Oct. 21

Thunderpick World Championship, a global professional CS2 tournament with a record-setting $1 million (USD) prize pool, announced today it will bring together the best players and teams in the world, including HEROIC, M80, Fnatic, and Falcons, to compete in its 2024 Finals, culminating in a two-day live event in Berlin, Germany on Nov. 2.

Leading up to the Grand Finals, teams β€” which also include Bestia, BIG Clan, BLEED, Cloud9, Imperial and Team Legacy β€” will compete in the online Group Stage on Oct. 21 to 25; and the Quarterfinals on Oct. 26. This follows six qualifier rounds across three global regions – Europe, North America and South America – which started in April.

β€œThe Thunderpick World Championship 2024 is shaping up to be one of the most exciting tournaments of the year,” said Kelly Sanders, Head of Strategy for Thunderpick. β€œWith the caliber of teams and record-setting prize pool, we can expect intense competition and high-quality gameplay that will captivate fans and players around the world.”

GRID is the official esports services provider and data partner of the Thunderpick World Championship. GRID’s comprehensive suite, featuring cutting-edge tournament tools, data visualization, and robust infrastructure, will be pivotal in enhancing the integrity, security, and commercial potential of the Thunderpick World Championship 2024.

This is the second year of the Thunderpick World Championship. In 2023, the total prize pool was $600,000 and FaZe Clan won the Grand Final.

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The post $1M Thunderpick World Championship 2024: Teams and Finals Details Announced! appeared first on European Gaming Industry News.

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Andrew Cardno to Speak at Mid-year IGA about Safeguarding Data in AI-Enabled Tribal Casinos

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Andrew Cardno, the Chief Technology Officer of Quick Custom Intelligence, a recognized expert in data analytics and gaming technology, will be a featured speaker at the upcoming Mid-Year Indian Gaming Association (IGA) conference at the Tulalip Resort Casino in Tulalip, Washington. He will deliver a presentation on the critical topic of β€œSafeguarding Data in AI-Enabled Tribal Casinos.”

As Artificial Intelligence (AI) continues to revolutionize the gaming industry, its integration into casino operations has opened new avenues for enhancing player experiences, optimizing business strategies, and improving overall security. In his session, Cardno will explore how AI is not just a tool for innovation but also a pivotal element in maintaining the integrity and safety of tribal casinos.

Cardno’s presentation will delve into several key areas:

  • Personalized Player Experiences: Demonstrating how AI can tailor game recommendations to individual players, creating more engaging and customized gaming experiences.
  • Advanced Security Measures: Highlighting AI’s capabilities in detecting and preventing fraudulent activities, ensuring a secure gaming environment.
  • Optimized Pricing Strategies: Discussing how AI can help casinos adjust pricing dynamically to maximize revenue and enhance profitability.
  • Enhanced Customer Service: Showcasing the use of AI-driven chatbots to provide efficient and personalized customer support, improving player satisfaction.
  • Refined Marketing Approaches: Examining how AI can refine marketing strategies for more targeted outreach, ensuring the right messages reach the right audiences.

Cardno will also provide insights into how AI-driven efficiencies can significantly reduce operational costs, allowing tribal casinos to allocate resources more effectively and make data-informed decisions that boost overall profitability.

β€œAI is transforming the landscape of casino operations, offering unprecedented opportunities for growth and innovation,” said Cardno. β€œHowever, with these advancements comes the critical responsibility of safeguarding data. My session will focus on how tribal casinos can leverage AI to enhance their operations while ensuring that data security remains a top priority.”

Victor Rocha, Conference Chair of the Indian Gaming Association, expressed his enthusiasm for Cardno’s participation. β€œWe are thrilled to have Andrew Cardno speak at this year’s Mid-Year IGA conference,” said Rocha. β€œHis expertise in AI and data analytics is unparalleled, and his insights on safeguarding data in AI-enabled tribal casinos come at a crucial time for our industry. This is an important topic that impacts the future of gaming, and we are excited to offer our attendees the opportunity to learn from one of the best in the field.”

The Mid-Year IGA conference is a premier event that brings together industry leaders, tribal gaming executives, and technology experts to discuss the latest trends and challenges in the gaming sector. Andrew Cardno’s presentation, on Wednesday September 18th at 9am, is expected to be one of the highlights of the conference, providing attendees with actionable insights into the future of AI in tribal casinos.

The post Andrew Cardno to Speak at Mid-year IGA about Safeguarding Data in AI-Enabled Tribal Casinos appeared first on European Gaming Industry News.

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Clemence Dujardin, MyAffiliates Group CEO, to speak at SBC Lisbon to unveil β€˜What is Next for the Gambling Industry’

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MyAffiliates, a leading affiliate tracking software platform in the iGaming market, announces that their Group CEO, Clemence Dujardin, will be a key speaker at the forthcoming SBC Summit in Lisbon this month – providing insightful words on the future of the gaming industry as part of a highly coveted inspirational panel.

In 2023 Clemence Dujardin was recognised by iGB as one of the top 10 most influential women in the iGaming industry. Joining MyAffiliates in 2012, she is today their Group CEO, and highly well regarded across the industry. Her background spanned a number ofΒ  industry sectors, including affiliate management and affiliate software technology companies before joining MyAffiliates, based in Malta.

Her exceptional leadership and contributions have been recognised with prestigious awards, including Malta’s Best Gaming Woman Leader of the Year in 2018 and 2019 and CEO Woman Of The Year at SiGMA in 2021. .

Her panel speaker slot at the SBC Summit, Lisbon will take place on the Super Stage – MEO Arena at 11.30-12.15pm on Thursday 26th September. It will answer β€˜The Big Question: What is Next for the Gambling industry?’

Clemence will explore the future of sports betting, casinos, and affiliations as the panel will delve into the latest trends shaping the gambling industry. Experts predict significant digital integration and regulatory shifts that will redefine the landscape – and something Clemence will articulate in order to provide invaluable insights into these transformative trends.

Clemence Dujardin, Group CEO at MyAffiliates comments, β€œWith ever tighter regulation, combined with increasingly enhanced digital capabilities, the gambling sector continues to provide exciting opportunities across the industry for business and growth. We’re witnessing this in affiliate marketing for the sector, and have done for some time. I’m thrilled to be joining this inspiring panel at the SBC Summit. Lisbon and look forward to a valuable discussion.”

MyAffiliates is an established affiliate marketing software platform, empowering iGaming operators to combine all of their gaming brands and products under one umbrella affiliate system. It has been in operation since 2007. In April 2024 it was publicly named as the β€˜most used affiliate marketing software’ within the gaming industry following StatsDrone research.

As well as Clemence Dujardin, she will be accompanied at SBC Summit, Lisbon throughout by Milan Vucicevic, Head of Sales and Kurt Caruana, Brand Manager, both at MyAffiliates.

The post Clemence Dujardin, MyAffiliates Group CEO, to speak at SBC Lisbon to unveil β€˜What is Next for the Gambling Industry’ appeared first on European Gaming Industry News.

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