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Estimated Betting – A New Twist on Gambling

As technology increases, the demand for integrating such technology into everyday services tends to increase at a similar rate. The appeal of leveraging modern technology to develop a platform accessible by all ages and skill sets provides the foundation for the quintessential service made better through existing technology. Algorithms are able to make decisions for users; they enhance the gambling experience particularly in the field of fantasy football drafts. Fantasy draft competitors seek to acquire the best players at the lowest cost and at the right time. For instance, using a round pick on a player that may not get drafted in the following round is inefficient and imposes an economic loss for the user drafting. DraftSmarts aims to minimize these loses for users through economics, game theory, and advance statistical modeling.

Game theory is applied in the DraftSmarts algorithm in order to consider the expected payoffs of both the user and his or her competitors. After the impact of the decision is recorded, the algorithm will then help the user decide whether or not to purchase (or trade) a player at a certain point in time. In theory, a substantially better player will produce a desirable result after the algorithm has been run because the marginal difference between the “best” player and the 2nd best player is much higher. Furthermore, game theory and strategic modeling are employed when the algorithm dictates an optimal bid price for each player. As the selling price of a player decreases over time, the algorithm will help the user determine at which point to buy the player for the biggest net positive payoff. Increasing positive margins and decreasing the negative margins for users are the ultimate goals of the product that DraftSmarts has to offer.

 

http://www.sporttechie.com/2015/08/23/startup-wants-hack-fantasy-football-draft-game-theory/

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