| Crowdsourcing is the process of gathering information | | | | offered by bookmakers when compared with |
| for decision making from multiple sources, a collective, | | | | predicted results. The challenge for a sports bettor lies |
| or crowd. The benefits of crowdsourcing include | | | | in identifying these discrepancies, as one must act fast |
| achieving a broad range of opinion, harnessing multiple | | | | as they are often quickly corrected by bookmakers. |
| levels of talent, lower costs and faster results. In the | | | | This challenge can be solved by employing the power |
| context of sports betting, how can crowdsourcing be | | | | of crowdsourcing. By using the power of the collective |
| used, does it provide any advantages, and can it be | | | | a sports bettor can quickly and efficiently identify any |
| developed into a sports betting system. In the article | | | | discrepancies and take advantage of these before the |
| we discuss these issues and present a way for | | | | bookmaker is able to correct them. |
| crowdsourcing to be used to develop a winning betting | | | | So how does a sports bettor use crowdsourcing to |
| system. | | | | help identify any bookmaker discrepancies? One way |
| Studies have shown that collaboration from multiple, | | | | to use crowdsourcing is to get access to a wide |
| diverse sources, in the form of crowdsourcing, can | | | | variety of opinion on the sports bet topic at hand. The |
| produce fast and efficient answers to a variety of | | | | best method to do this is by getting access to the daily |
| problems. In a recent competition, the university MIT | | | | picks from over 500 sports handicappers. The daily |
| successfully used the power of crowdsourcing to win | | | | picks from over 500 sports handicappers becomes |
| a DARPA balloon location challenge. Without the | | | | your "crowd" from which you can analyse the |
| power of crowdsourcing MIT would surely not have | | | | information and "source" the discrepancies. |
| succeeded. | | | | If you would like to read more about crowdsourcing, |
| A common betting system is one that looks to take | | | | sports betting and how to develop a sports betting |
| advantage of discrepancies in the odds and lines | | | | system, click the links below. |