Link: A look at sports data tech companies like Sportradar, which set betting odds for sports gambling apps and websites, as they build models to keep people betting (Samanth Subramanian/Bloomberg)

Betting shops have become a common sight on British high streets since gambling was legalized in 1961. They feature prominently in the culture and landscape, indicated by brands like Paddy Power and William Hill.

Recently, setting the odds, the essence of bookmaking, has moved to specialized companies due to the shift to online platforms. These firms use complex models involving algorithms and AI to handle vast arrays of data and provide realistic gambling odds for a global market.

Key players like Sportradar, headquartered in Switzerland, now support over 900 bookmakers globally, handling enormous sums in bets. Their sophisticated systems allow the setting of odds on nearly any event, securing them as industry heavyweights.

Modern betting extends beyond traditional sports. Companies continuously develop models to offer bets on microevents within a game, catering to a growing consumer base seeking immediate betting opportunities.

However, as betting technology advances, concerns about gambling addiction and the ethical implications of data usage in betting rise. Regulatory discussions and legal challenges are ongoing as the industry evolves rapidly.

Ultimately, companies like Sportradar aim at refining their prediction models to ramp up betting options. They strive to enhance the accuracy of their systems to keep bettors engaged and expand their market share.

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