As technology reshapes most human endeavors, gambling operators scramble to absorb its business growing attributes and to reduce the negative impact upon the trade. For all player groups, online gaming presents a tremendous opportunity for the industry. A recent industry report projects that the online gambling and betting market will reach nearly $95 billion globally by 2024, growing at a CAGR of approximately 11 percent.
Success in electronic gambling from the viewpoint of the gambling services provider however depends on complex mathematical models that allow casinos and bookies to make a profit or to put it in another way, to reward the labor they contribute to the trade. From the players, side opportunities in electronic gambling arise from the continuing showering of innovations in communications. These innovations allow players to gamble from everywhere at any time. But for players to receive a reward they need a clear understanding of how probabilities work. Both sides of the coin thus point to the significance of mathematics in rewarding the player and producing profits for operators.
In sports betting mathematical calculations are constantly being used. Bookies need to have a clear estimate of risks, odds for certain sports events and the ratio between expenses and possible revenues. Wagerers, on the other hand, also use mathematics to pocket a win. Mathematics, for instance, are behind ‘’Advantage Gambling’’ which is a legal method that can give players or bettors some advantage while placing bets.
Most knowledgeable casino players and sports bettors have gained extensive knowledge and acquired vast skills not only from practice but from mathematical calculations. These individuals prove that gambling is not only a matter of luck but demands a mathematical background.
This has been the secret behind the success of gambling portals such as 5Dimes, Bovada, My Bookie and Sports Betting.
At the back of these successful portals, there has always been a mathematical genius. Such is the case of Bovada’s Calvin Edward Ayre. A Canadian-Antiguan entrepreneur based in Antigua and Barbuda. In 2000, Ayre launched the online gambling company which made him a billionaire. In the case of 5Dimes, William Sean Creighton created the algorithms on which the company’s success rests and that have survived him. John Levy CEO of The Score is also an expert in math’s logics and a very successful entrepreneur