Bet with Coach

“Bookmakers require bettors to risk $1.10 to win $1.00 on bets essentially billed as 50/50 wagers. This means for every against the spread and every over/under bet you make, you can expect to lose 4.55% of the amount you risked.'' If one just bets based on intuition, or even a strong knowledge of sports, it is likely that they will lose this money. A huge majority of the market of people who watch professional sports place bets, and the majority of that figure bets to enhance the game. The team at “Bet With Coach” believes an Artificial Intelligence model designed to recommend sports betting picks has the potential to level the playing field.

Bet with Coach is an Artificial Intelligence model designed to analyze sports statistics, sports trends, and other underlying factors. These underlying factors can include injury data, weather, and other less-considered data. The goal of Bet With Coach is to create an advantage for our customers over the house, despite the house advantage it creates for itself. Bet With Coach is a paid, subscription-based service that provides customers with real-time, statistically based, personalized betting recommendations. Through Bet With Coach’s research, it was found that there was a pretty much even split of confidence levels, varying from extremely confident down to not at all. What Bet With Coach hopes to provide is a stronger confidence level inside of sports betting, based on continued success and profit through the AI model.

Harnessing the power of Artificial Intelligence, Bet With Coach hopes to be the future of sports betting assistance, beating out cable television pundits, journalistic analysts, and social media influencers, who currently dominate this field. The technology used to create such a product that may project to reshape the market is a narrow Artificial Intelligence model. This narrow AI will be powered and trained through machine learning, big data analytics, and natural language processing. Through interpreting input data, sourced from sports databases such as Pro Football Reference, ESPN, Basketball Reference, etc., and subsequently processing this data, the machine will ideally recognize a pattern. Through this recognition of a pattern, it will analyze previous data to see what this pattern indicates. It will then create an inference on what will occur, and generate a recommendation based on this.

In the research performed by the Bet With Coach team, the overwhelming majority of people who filled out the survey were male (92%). With the source of data collection coming from forums and groups of sports bettors, males can be identified as the primary gender by which Bet With Coach will work. In terms of age, 48% of responses ranged from 18-25 years old, with the other 40% being between 26 and 34. Based on where the data was sourced from, this shows that there is a strong market for those under the age of 34. However, it doesn’t show that our target market cuts out at age 34, just that our data was collected from a younger audience. Using a survey conducted by Statista, they found a huge market inside of the 35-44 age group, showing a wider range exists. What can be surmised from the survey, and subsequent, data collection from Bet With Coach is that the target market begins early, which can be identified as the age of legal sports betting in that individual state. It is also important that individuals with a disposable income are targeted; those with a disposable income are more likely to place a sports bet, as they possess money to spend. Behaviorally, marketing towards experienced sports bettors, those willing to pay for expert advice, and those possibly prone to frustration with sports betting will create a better index of people inside of the projected target market. Psychographically, successfully identifying competitive folks, as well as those who are generally interested in watching sports programming and live sports, will also be key in the development of a target market.

When analyzing the size of the target market, it is important to look at where the sports betting market is today. This is not a market Bet With Coach hopes to take over, but a market where the growth of which will benefit Bet With Coach. As of 2022, the total sports betting market was estimated at 81.7 Billion US Dollars. The projection for 2028, a figure sourced from Grand View Research Inc., is roughly 140.26 Billion US Dollars. This indicates a 9.76 Billion US Dollar per year growth. What Bet With Coach hopes to accomplish, is to create its ownership of the market through this growth. A goal of roughly 1% of this market growth can be identified, and accomplished if successful.

Bet With Coach’s competition is currently people analyzing specific stats, or just going based on intuition, and creating advice for the general population based on this. What Bet With Coach can provide is complete statistical analysis, personalized to each customer’s individual need, when they consider risk management and potential upside. The Bet With Coach AI models, which are trained on a massive dataset of sports statistics, will have a much stronger ability for pattern recognition than the current “experts” in this field. Through research, it was found that 76% of the rough target market does trust Artificial Intelligence’s statistical abilities, an encouraging figure that shows the continued advantage that Bet With Coach possesses. Amongst that target market, only 55% have used other third-party betting advice, which indicates that there is a market for the Bet With Coach services, inside of that 76% trust Artificial Intelligence. Bet With Coach’s personalized recommendation, based on individual risk assessment, is unique to Bet With Coach against its competition.

As previously mentioned, in order to obtain access to Bet With Coach, a subscription is necessary. Every subscription will begin with a usage-based free trial, where the customer will have access to 3-5 betting conversations, before beginning to pay the monthly fee. This creates a sense of familiarity with the product, and assuming effectiveness creates an attachment to the product if it makes the customer a profit. Unofficially, Bet With Coach projects to charge $9.99 a month to begin with, with this subject to change as sources of business expenditure increase, or change.

Secondary Research Bibliography

PARRY, WAYNE. “A record number of Americans are expected to bet on this year's Super Bowl.” WDSU, 8 February 2022, https://www.wdsu.com/article/a-record-number-of-americans-are-expected-to-bet-on-this-years-super-bowl/39011289. Accessed 1 November 2023.

“Sports betting in the U.S. - statistics & facts.” Statista, 7 September 2023, https://www.statista.com/topics/8581/sports-betting-us/#topicOverview. Accessed 1 November 2023.

“Sports Betting Market Size, Share, Trend & Outlook 2033 | FMI.” Future Market Insights, https://www.futuremarketinsights.com/reports/sports-betting-market. Accessed 1 November 2023.

“Sports Betting Market Size Worth $140.26 Billion By 2028: Grand View Research, Inc.” Bloomberg.com, 19 October 2021, https://www.bloomberg.com/press-releases/2021-10-19/sports-betting-market-size-worth-140-26-billion-by-2028-grand-view-research-inc. Accessed 1 November 2023.

“Why Most Sports Bettors Lose Money.” Bookmaker Bonus Code, https://www.bonuscodebookmaker.com/articles/why-most-bettors-lose/. Accessed 1 November 2023.