Could Artificial Intelligence work in Formula One Betting?
Lewis Hamilton has dominated Formula One for the last decade, and his imperious run at the top shows no sign of ending. As a betting entity, it has made the sport a tad predictable. Hamilton has won the last four crowns on the bounce, and no other driver has come close to toppling the Brit at the top of the standings. Nico Rosberg has been the only man to prevent Hamilton from winning the Drivers’ Championship since 2014 when he triumphed in the 2016 season.
The dominance of the Brit has put bettors into a conundrum. Given that Hamilton has won more often than not in Grand Prixs throughout the last five years, his price to win races has plummeted leaving little value for bettors to gain when wagering on the 36-year-old. It has forced bettors to turn elsewhere to look for markets that do not include Hamilton or result-based bets. Max Verstappen is on the rise and has mounted a challenge in the 2021 campaign to put pressure on the Brit. However, it remains to be seen whether he can sustain his form over the course of the term.
One driver sweeping away the competition before them is nothing new to Formula One in the modern era. Michael Schumacher dominated the 1990s into the 2000s while Sebastian Vettel had a great run between 2010 and 2013 before Hamilton took center stage. Sport as a whole has often seen eras where certain competitors rise to the top and remaining so for long periods of time. Horse racing is a great example where one horse can remain unbeaten throughout their careers, once again making a bet a tricky proposition. However, there could be a formula at hand to support punters in their bid to beat the bookies and find winners out of thin air.
Artificial intelligence has been utilized to support bookmakers in the development of their odds and markets. It is now be used to support bettors in the United Kingdom and Ireland in their horse racing bets. The Beth prediction tool uses criteria from horse racing such as form, pedigree, weather, and the condition of the racecourse to calculate which competitor has the best hope of winning a race. It removes bias and sentiment from the equation and bases its results solely on the facts of the matter.
If the system can be successful for horse racing then there’s no reason why it could not be transferred into the realm of Formula One. It shares similar traits to horse racing and factors that could be driven into the formula could include form, past performance at a venue, the venue itself, and the weather conditions among many others. Artificial intelligence would provide bettors with an indication of which driver would be the best option for the contest. It may point out that Hamilton would be the outstanding candidate, although there could be a hidden option on the field that could yield a healthy profit.
Formula One bettors are in need of a helping hand amid the dominance of Hamilton and his hold over the winning markets. Artificial intelligence could be an interesting path to reveal hidden gems in the future.