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gambling.html
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<!DOCTYPE html>
<html lang="en">
<head>
<meta charset="UTF-8">
<meta name="viewport" content="width=device-width, initial-scale=1.0">
<title>Impacts of computer science in gambling</title>
<link rel="stylesheet" href="assets/css/bootstrap.min.css">
<link rel="stylesheet" href="assets/css/custom.css">
</head>
<body>
<!-- NAVBAR, format taken from https://getbootstrap.com/docs/5.0/components/navbar/ -->
<nav class="navbar navbar-expand-lg navbar-light bg-light">
<div class="container-fluid">
<a class="navbar-brand" href="index.html">Impacts of CS: Gambling</a>
<button class="navbar-toggler" type="button" data-bs-toggle="collapse" data-bs-target="#navbarNav" aria-controls="navbarNav" aria-expanded="false" aria-label="Toggle navigation">
<span class="navbar-toggler-icon"></span>
</button>
<div class="collapse navbar-collapse" id="navbarNav">
<ul class="navbar-nav">
<li class="nav-item">
<a class="nav-link active" aria-current="page" href="gambling.html">Gambling</a>
</li>
<li class="nav-item">
<a class="nav-link active" aria-current="page" href="poaching.html">Poaching</a>
</li>
<li class="nav-item">
<a class="nav-link active" aria-current="page" href="medical.html">Medical</a>
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<a class="nav-link active" aria-current="page" href="cloud.html">The Cloud</a>
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</div>
</nav>
<div class="mx-5 m-3">
<div class="contentContainer">
<div class="row mx-lg-5 px-lg-5 mx-sm-2 px-lg-2">
<div class="col-lg-7 col-mx-6">
<div class="text-decoration-underline" style="width: 10rem">
<h3>Betting</h3>
</div>
<div class="mx-4">
<h6 class="h6 text-decoration-underline">Why betting?</h6>
<p class="ms-4">You might be wondering why gambling is a positive contribution to society... which is fair enough; but what you aren't realising is the positive impacts of computer science for the end user, as well as for the bookmakers.</p>
<h6 class="h6 text-decoration-underline">How are odds calculated?</h6>
<p class="ms-4">Nowadays, betting odds are calulated by taking vast amounts of data and analysing it. Bookmakers usually hire specialists, like data/computer scientists, to evaluate all of the data and make sense of it. This involves having the best software available that would often be tailor made by each bookmaker. This is important, because to not have near-perfect odds, means that they would very likely be paying out of their own pocket to ensure winnings are paid out. These professionals have to ensure they can predict the probability of an event happening in the match almost exactly. For this to be even possible, an unbelievable amount of data has to be collected, for example, each pass to each player has to be recorded either automatically or with minimal human interaction. Odds are calculated for thousands and thousands of matches everyday, so it is no wonder specialists are required, and there is demand in the field.</p>
</div>
</div>
<div class="col-lg-5 p-lg-1 p-sm-5 ">
<img alt="Hands holding lots of money" class="img" style="border-radius:5px" src="https://imgs.search.brave.com/n940xM-iCWUdEAolgdI1sjg1vE-ROhRkULrNzyR1hy0/rs:fit:1200:720:1/g:ce/aHR0cHM6Ly9pLnl0/aW1nLmNvbS92aS8y/MVh6THVKeXh6ay9t/YXhyZXNkZWZhdWx0/LmpwZw" width="100%">
</div>
</div>
</div>
<div class="contentContainer mt-3">
<div class="row mx-lg-5 px-lg-5 mx-sm-2 px-sm-2">
<div class="col-lg-7">
<div class="mx-4">
<h6 class="text-decoration-underline">Cash Projections</h6>
<p class="ms-4">The next step after calculating the probabilities is to figure out the cash projections. Bookmakes create algorithms to figure out how much cash flow there will be in the specific market. As well as this, they have a database of past projections to help calculate it better. Cash projections are used to help bookmakers keep an individual balance on each outcome and bet, so they don't mix everything up and end up losing money. Events that otherwise would not have any bets might get some customers because of cash projections, this is dependant on the margin which is based on the popularity of the sport.</p>
<h6 class="text-decoration-underline">The Margin</h6>
<p class="ms-4">After the odds are calculated, the bookmakers must take a margin in order to make any money, this is done by a formula:</p>
</div>
</div>
<div class="col-lg-5 p-3">
<img alt="Betting Margin formula" class="img" src="https://footballwhispers.com/wp-content/uploads/2020/07/Margin-odds.jpg" width="100%">
</div>
<div class="col-11 mx-4">
<h6 class="text-decoration-underline">The End-User</h6>
<p class="ms-4">The experience for the end user is better with modern technology because now each time they bet, they can be sure that the odds they are choosing are likely very accurate; therefore if someone thinks they have an edge and they're right, they'll likely profit off of it.</p>
</div>
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<address>Author Credits via <a href="https://github.com/fergqwertyui">Github</a></address>
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