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My experience of building a betting website
This article was written on a user blog
How to set up your own betting site to make money from betting and predictions.
You might think that forecasts and observations correspond perfectly with each other, i.e. observations = forecasts. And, of course, we were very happy to build this feature at the start of the project and to see this diagram. But we also knew that the above plot had too many small flaws to help us beat the bookies on our own.
For example, the solid straight line does NOT follow a diagonal, which means that observations and predictions are only slightly different from each other. When a simple model predicts 20% home wins, we actually observe about 25% of them. This can cause us to ignore potentially interesting bets. Or, even worse, it can lead us to bet on the visitors, believing there is an 80% chance of a draw or win, when in fact that chance is only 75%. We could lose more than expected and our profits would be instantly reduced. In the end, after spending a huge amount of time developing fucnets and models, we have found our first profitable algorithm, which offers an ROI of 4.79% since the beginning of the season.
Time to go online
It was after that we decided it was time to share our predictions and create a website. Having created a pilot version of the site, I realised that frontdev was definitely not for me (although it looked pretty passable on the computers).
There was no interactivity on the site (unlike on Best Betting Sites in India ), so I had to hire a couple of developers to fix the situation. Since then we've done no small amount to make the site decent looking and useful to use.
It was interesting to watch the site statistics when the first users came to us. Although very few articles were written about our site in various forums. Little results and conclusions
What I got from this experience
You do not have to stop after the creation of the product. There is always something to work on. There is no such thing as a perfect product. Don't waste time and create what comes to your mind. The web is full of information, so you won't get hungry for information. Even with a small team of people doing the website after the main job, you can create a good product. The main thing is to stay motivated.