Category: Sports

The amount of data available in today’s world because of technological advancements is seemingly unimaginable. This available data is prevalent throughout sports today to the advantage of many. Analytics can provide for an increase in revenue, improvement in player and team performance, quality of league play overall, injury prevention and many other reasons.

Analytics in sports and betting on sports are providing a competitive advantage for players, teams, executives and bettors. Three specific advancements for leagues are include integrating data sources to advance competition, communicating why the data is useful, and creating a different fan experience.

For wagering, we focus on Return on Investment or ROI. Return on investment is used to evaluate the efficiency of an investment. To calculate ROI, the return of an investment (or in this case, the profit earned from your wagers) is divided by the cost of the investment with the result typically being expressed as a percentage. ROI is perhaps the best way to analyze the success of your wagers.

One of the reasons this number is so important is that is helps determine if a system is truly profitable. Too many underdogs with plus money or safe bets with juice means winning percentage is not a great metric of success.