Harnessing the Powers of AI and Blockchain: Bookmakers Can't Afford to Go Without CombatIQ
Artificial Intelligence (AI) is here and you better get on board...or else.
Don't worry. We have you covered here at Gambling911.com.
Our readers have a direct line of communication with a company at the forefront of AI and blockchain....not to mention a focus on Mixed Martial Sports. UFC events in recent years have become the most trafficked here at Gambling911.com with some sportsbooks reporting record revenues for the marquee fights.
Tim Malik, CEO and co-founder of Combat IQ, has come a long way since participating in the Block Dojo program in 2022—the London incubator for start-ups building on the BSV blockchain. His Combat IQ, which has since been with company accelerator Techstars, wants to be a game-changer in the combat sports industry with its AI-powered analytic platform. And every sportsbook should be incorporating this into their own platform.
Combat IQ: Harnessing the powers of AI and blockchain | Tim Malik | CG C... https://t.co/diJ59X5kxK via @YouTube
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The company now plans to scale their operational capabilities as they look to raise a seed round at the end of the Techstars program.
In the video above, Malik discusses how AI processes data and how blockchain can play a role in resolving disputes in the sports betting industry.
Fight promoters will be able to use the data provided to them by the platform to augment community-building on their websites. Rights-holders can maximize value as viewership increases and more sponsors advertise in their league.
“The world of sports broadcasting, sports viewership is changing dramatically. As the younger generations get in, they’re changing the way people view sports, how they interact with it, and people are always looking for real time information in convenient ways. Fans want to see data points,” Malik says.
“We send odds to betting companies directly and they would put those odds on their marketplaces for people to bet with.” Until now, betting in play is mostly limited to UFC. With Combat IQ, he aims to enhance people’s betting experience by providing leagues with real-time data using cameras and motion tracking systems. The league can in turn use the data to educate and engage their fans in the same way blue chip leagues such as NFL and F1 do.
And here is where the scary AI comes into play....well, not too scary when used properly.
An automated system works in place of a person who identifies certain components of a fight such as the number of strikes on the ground—which Malike says is impossible for people to track.
Measuring factors such as speed of punches and kicks, which humans cannot do through the naked eye, are also made possible with Combat IQ’s system. Components are analyzed by a system that will determine which metrics have the greatest impact. Combat IQ will then provide the AI-processed data analytics to leagues for their own use.
Questions about the odds are resolved immediately. No more disputes over what prices (odds) were offered and when. That's because all the odds are made public via the blockchain.
“When we deliver odds to sports betting companies, we actually publish those odds to the blockchain at the same time,” Malik explains. “And that’s how we create an immutable record for dispute resolution, conflict settlement.”
- Chris Costigan, Gambling911.com Publisher
