AI Guru Steve Westfeld Shares How AI is Revolutionizing Sports Betting
Show Notes
About The Guest(s):
Steve Westfeld is an AI guru and the founder of Lean’s AI, a leading AI sports handicapping firm. After losing $75,000 in a sports handicapping scam, Steve used his expertise as an AI developer to create an AI sports prediction algorithm to recoup his losses. This algorithm eventually grew into Lean’s AI, which consistently beats the sports books in major American sports.
Summary:
Steve Westfeld, founder of Lean’s AI, joins Chris Voss on The Chris Voss Show to discuss his journey from losing $75,000 in a sports handicapping scam to creating an AI sports prediction algorithm that consistently beats the sports books. Steve shares how he used his background as an AI developer to develop the algorithm and the challenges he faced along the way. He also explains how the algorithm analyzes data on thousands of games to create win probabilities and cover probabilities against the spread or over/under lines. Steve emphasizes the importance of transparency in the sports handicapping industry and how Lean’s AI provides subscribers with all the data and performance metrics of the algorithm. He also offers advice for new sports bettors, including starting with low amounts and managing emotions.
Key Takeaways:
Lean’s AI analyzes data on thousands of games to create win probabilities and cover probabilities against the spread or over/under lines.
The algorithm looks for discrepancies between the true game analytics and the lines set by Vegas to identify betting opportunities.
Lean’s AI provides subscribers with transparent data and performance metrics to help them make informed betting decisions.
Starting with low amounts and managing emotions are key for new sports bettors.
The volatility of sports betting requires a long-term perspective and patience.
Quotes:
“We’ve created an algorithm that analyzes thousands of data points on every game in American sports.” – Steve Westfeld
“The algorithm is trying to create a win probability for each team and a cover probability against a line.” – Steve Westfeld
“We provide all the data and win-loss records of the algorithm so people can see exactly how it’s performing.” – Steve Westfeld
“AI takes the emotion and bias out of betting and analyzes pure data and analytics.” – Steve Westfeld
“Start with low amounts and pace yourself to avoid getting emotionally invested and affecting your normal life.” – Steve Westfeld
Podcast: Play in new window | Download (Duration: 46:24 — 31.9MB) | Embed
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