AI’s growth over the past couple of years has shifted the way we look at pretty much any industry. The integration of this groundbreaking technology may have shifted the economy and brought sudden changes, but not all of them were bad.
In the US, Maryland is one of the states that has adapted to the new times quite rapidly. AI is used in both the private and public sectors. Some research states that over 50 state agencies use some form of artificial intelligence.
Sectors such as the Maryland Water Infrastructure Financing Administration have reportedly saved upwards of $400,000 by integrating AI. In the private sector, the online sports betting industry is among the industries that rely on AI the most. We’re going to talk about how influential AI is in sports betting and whether Maryland bettors will have an enhanced experience with the technology itself.
The Legal Landscape of Online Betting in Maryland
Maryland is one of the 39 states in the US that have legalized online betting. Residents who are 21 or older can register at bookies that have a license from the Maryland Lottery and Gaming Control Agency. Upon successful registration, you can place a bet on pretty much any sport that you can think of.
The only restrictions in the state are in relation to high school betting and college sports betting. Each online sportsbook is required to confirm your identity and location before it allows you to place real money bets as well.
The legalization of online sports betting in Maryland, and all other US states, is the result of the PASPA overturn in 2018. Once PASPA was deemed unconstitutional, states received the power to regulate online betting however they please. Maryland legalized it in May 2021, and that helped the state generate $14 billion in Q1 of 2022, the fastest start ever up to that year.
Does AI Integration Help Maryland Sportsbooks Improve User Experience?
To help you understand whether AI integration improves user experience, we’re going to define a few key areas in which the industry uses the technology.
- Generating odds – once given a prompt, AI tools are used by sportsbooks to generate odds for specific events. These AI tools take multiple factors into consideration – recent form, player injuries, type of competition, importance of the match, etc. Advanced AI tools even compare the odds with other bookmakers and generate them based on the available data.
- Detecting problem gambling – one of the duties of online sports betting sites is to enable a safe gaming environment for registered punters. AI tools are being used to detect potential problem gambling behavior and they’re relatively effective in preventing excess loss and potential addiction.
- Data organization and research – from a bettor’s perspective, AI tools can help them do more efficient research on a specific team or a player. They can dig up various statistics within seconds, and all of this data can help them make a more educated decision on their next wager.
- Personalized experience – online sportsbooks use AI tools to track your behavior not just in terms of responsible gambling, but also in terms of preferences – betting markets, bonuses, types of bets, period of the day in which you like to bet, etc. All of these factors are taken into consideration, and a sportsbook uses the data generated by AI to provide you with a more personalized experience.
When all of these factors are combined, it’s safe to say that the integration of AI in Maryland online sportsbooks benefits bettors as it allows operators to generate more competitive odds and offer residents a more personalized experience. Good AI tools can also prevent potential gambling addiction and, in a way, make sure that Maryland bettors maintain a safe betting habit.
AI Is Useful, But Nowhere Near Perfect
One of the most important things that everyone needs to remember is that as effective as AI is in today’s era, it doesn’t mean that it’s perfect. This is the reason why online bookies in Maryland shouldn’t solely rely on the work of AI to operate better.
Research stated that over 60% of organizations are experimenting with AI agents at the least, and 64% state that AI is “enabling their innovation.” This data is a clear indicator that most companies, including Maryland online sportsbooks, will continue to use AI technology in the coming period to better their services.
As for how online sportsbooks will continue to build up with the help of AI, the foundation will likely remain the same. AI will be used to generate data and odds, and provide bettors with a more personalized experience. These tools can be used to create virtual sports and generate outcomes. Advanced fraud detection is also in the mix. Some research even states that with the help of AI, the CAGR of online sportsbooks in Maryland and the world will experience 21% growth by 2034.
