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Editors note: Part 1 of ESPNs future of sports betting series focused on the paths to legalization in the United States and what the resulting marketplace could look like. Part 2 focuses on the bettors in this future landscape.There is an ongoing arms race between elite sports betting syndicates.Each group is doing whatever it takes to stay one step ahead of the other. Theyre constantly developing and improving predictive models for all aspects of sports betting. The ultimate goal is to solve the equation.Sports wagering is just a math problem, said a high-level bettor, who is active in the global market and spoke with ESPN on the condition of anonymity. Most syndicates are already using various forms of machine learning.In the future, the most-sophisticated bettors wont be human -- theyll be robots.These betting bots, used by elite betting groups, will be fast, powerful and have terabytes of data flowing through them. If an NFL point spread gets off-kilter or a live scout transmits the result of an obscure, low-level tennis match before the books know it, the bots can unleash a firestorm of bets all over the world. Soon, theyll be able to outsmart humans.The whole idea of thinking computers conjures up movie images of Hal 9000 from 2001: A Space Odyssey, WOPR from War Games or Ava from Ex Machina. Whether described as artificial intelligence, neural networks or machine learning, the applications to advanced sports betting are obvious.In a nutshell, heres how the robots operate: Sophisticated forecasting models convert event probabilities into prices (i.e. The Green Bay Packers as a -150 favorite have an implied win probability of 60 percent). If the market price differs from the model price enough to withstand the vig or commission, the difference represents an opportunity. And the opportunity is pursued almost instantaneously through the use elaborate trading software that accommodates both speed and volume.Professor Adam Kucharski, a London mathematician who researched scientific approaches to betting in his new book, The Perfect Bet: How Science and Math Are Taking the Luck out of Gambling, says high-tech bettors primarily take two different approaches with their bots.The first involves hooking up robots directly to the betting exchange servers. This means bettors can jump on any mispriced odds almost instantly, Kucharski said. The second approach is to carefully develop scientific predictions, then place a traditional bet in the market. This is hard, given limits on betting. If you have a small edge, you need to put down a lot of money to make it worthwhile. That is why many syndicates opt for the big Asian markets, where people are happy to take large bets.Some bots, Kucharski added, are helping gamblers sneak bets into the market without their competitors discovering what theyre doing. A good analogy is to poker, where intelligent bots have taught themselves how to bluff and deceive opponents. Sports betting robots are going to get better at outwitting humans, too.Thats bad news for Joe Public: In the future, the average recreational sports bettor will be up against it.Robots made and funded by professionals are made for profit, said Robin Hanson, an economics professor at George Mason University and author of The Age of Em: Work, Love and Life When Robots Rule the Earth.Sports betting is a zero-sum game, so there must be winners and losers, and professionals win on average, Hanson said. Most nonprofessionals are humans, who lose.The next-gen data being fed to the robots will be streaming from motion-tracking cameras located in stadiums and arenas and microchips placed in uniforms and equipment, like helmets and footballs. Athlete bodies will be a data source, too.Kristy Gale, CEO of Hypergolic, an Arizona-based technology and biometric data rights company, told ESPN that ingestible, injectable and implantable technologies -- from sensors to diagnostic to therapeutic devices -- will increasingly make their way into athlete bodies and will be used to monitor an athletes movement, field position and acceleration rate, among other things. She said the athlete biometric data, called ABD for short, may be used as a commodity sold to fantasy sports providers and sportsbooks. Or offered directly to consumers as exclusive gaming options.As ABD is found to be a strong predictor of performance, it will be extremely valuable to bookmakers, said Gale, who is also a lawyer and wrote an academic article on the topic for the Arizona State Sports and Entertainment Law Journal. These data will certainly be in demand and monetized in the sports wagering industry.Sports trading, not sports bettingDont gamble. Invest.That was President Barack Obamas advice to Americans in a wide-ranging June 2016 interview with Bloomberg Businessweek.But when it comes to sports wagering, there is profound blurring of the two: The more the sports betting market grows, the more financial trading strategies increasingly bleed into it.And while many of the sharpest bettors in the future may not be human, the vast majority will be. Instead of investing in the stock market or betting themselves, much like choosing to invest money in a mutual fund in the stock market, some people will prefer to put their hard-earned money in the hands of professionals.Brendan Poots, a former professional bookmaker, is the CEO of Priomha Capital, a global sports trading fund with offices in Melbourne, Australia, Las Vegas and Gibraltar. His company issues annual reports and a prospectus, just like any other open-to-the-public hedge fund, and with every trade he makes, he leaves an electronic fingerprint with every bet he makes.Every trade we make is traceable, down to time, size and type, Poots said.He believes this is the future of sports betting in the U.S.In a 2004 blog post, Dallas Mavericks owner Mark Cuban proposed a fund that only placed bets...[a] gambling hedge fund.Cubans idea never materialized, but 12 years later, his blog post seems remarkably prescient. Nevada has approved entity betting for sports, where regulated hedge fund-like groups, like Priomha Capital, are allowed to accept out-of-state money from investors to use at any participating sportsbook.Entity betting hasnt taken off yet in Nevada, and only one of the states regulated books -- CG Technology -- is participating in it. But Poots still believes this is the future of sports betting in the U.S.We are hoping that we can continue to pioneer the development of entity wagering, said Poots in a summer email interview with ESPN. With the BREXIT and the market crashing, as well as the long-term uncertainty that will pervade the global markets, a non-correlated asset class immune to traditional market risks is attractive.As the gambling market starts to look more like already-recognized financial markets, some experts suggest that sports gambling may provide the Holy Grail, so to speak, in investing -- an uncorrelated, alternative asset class, which allows for diversification and protection against any sector-specific downward trends in a well-balanced investment portfolio.Think of a Venn diagram with two circles that overlap considerably in the middle. One circle is sports gambling as it is traditionally construed. The other circle is general principles of investments, trading, hedging, arbitrage and asset allocation. Researchers have studied the overlap between these two circles.In an academic paper released this year by a pair of quantitative research analysts, Lovjit Thukral and Pedro Vergel Eleuterio found that sports trading can provide an attractive option to investors as an alternative asset to generate excess returns which are uncorrelated to their existing portfolio.Tobias Moskowitz, a finance professor at Yale and author of the forthcoming academic paper titled Asset Pricing and Sports Betting, said he uses sports betting as a laboratory to test certain pricing theories, ruling out some while confirming others.However, the current U.S. sports betting market has a long way to go before meriting serious consideration from hedge funds and institutional investors.The sports wagering market just isnt liquid enough for large investors to spend their time, Moskowitz said. Also, the vig is so high in sports gambling, and particularly daily fantasy sports, the trading costs are incredibly high compared to financial markets.The overlap between sports betting and Wall Street investing is not lost on experts.Let me put it this way, John Avello, a Vegas veteran and executive director of Wynn race and sports, told ESPN. If the stock market started today, it would probably be looked at as gambling.Maybe the legal tag will improve sports bettings reputation and help the market grow to a point where the business-savvy investors of Wall Street will start to see it as an opportunity. After all, they already know how to do it.We analyze data, we build algorithms, we predict what will happen and then we make a trade, said Poots.Is he gambling or investing?Its not unusual to hear people refer to trading stocks as no different than going to Vegas, Cuban wrote in 2004. They are right.Future outlook not all rosy for casual bettorsOpinions differ as to whether nationwide legalized sports gambling will result in a net increase in the overall number of bettors and volume. Some experts cite a substitution effect, where bettors currently using illegal bookmakers will simply transition to regulated ones. Others in the industry think legalization will create a whole new class of bettors, with a mass of people who previously avoided sports betting because of its illegality now entering the market.These potential new bettors (and existing ones), depending on the state they live in, may be able to get bets down at new sportsbooks, gas stations and even kiosks in their local sports bar. Eventually, bettors will likely be able to legally place bets on their phone from the comfort of their couches. Or while seated courtside at an NBA game.Bottom line: If a casual person wants to place a bet, he or she will have a variety of options.But these increased options for bettors -- whether human or otherwise -- wont arrive immediately. There will be bumps in the road, especially if bettors concerns are not addressed. Veteran Vegas pro Alan Denkenson doesnt have high hopes.Limits will be too small or theyll charge too much vig or only do parlays, Denkenson said.Denkenson, a former New York City bookie who was portrayed by Bruce Willis in the movie Lay the Favorite, has seen all sides of the industry. He struggles to envision a future with a successful legal sports betting market in the U.S.Its going to be a mess, he said.Coming in Part 3 on Friday: What are the pitfalls of expanded legalized sports betting in the U.S.? Khari Willis Colts Jersey . -- If Henry Burris has his way, he will be the starting quarterback to lead the Hamilton Tiger-Cats back to the Grey Cup next year. Bobby Okereke Colts Jersey . Dallas hasnt ruled out the star quarterback for Sunday nights game against Philadelphia, but all signs point to Romos back injury pushing Kyle Orton into the starting role after two years of limited play as the backup. Surely Ortons name isnt the first that comes to mind for fans wanting a change after years of damaging interceptions, fumbles or, most infamously, the field goal flub when Romo dropped the snap on a kick that could have won his first playoff game in 2006. http://www.officialindianapoliscoltspro.com/Malik-hooker-colts-jersey/ . The team says the Spain international has a muscle pull in his right leg. Barcelona hosts third-division side Cartagena in the return leg of their round-of-32 tie after winning their first meeting 4-1. Reggie Wayne Youth Jersey . Patrice Bergeron and Daniel Paille scored 20 seconds apart a few minutes after Stamkos was taken off the ice on a stretcher with a broken right leg, and the Bruins beat the Lightning 3-0 on Monday afternoon. Andrew Luck Colts Jersey .Y. -- Buffalo Bills coach Doug Marrone has drawn on his Syracuse connections once again by hiring Rob Moore to take over as receivers coach. FORT WORTH, Texas -- Police say the father of Texas Tech quarterback Patrick Mahomes was arrested on a charge of public intoxication during the Red Raiders game at TCU over the weekend.Officer Tamara Valle of the Fort Worth Police Department said Monday that former major league pitcher Pat Mahomes was arrested about 5:45 p.m. Saturday by an off-duty officer working the game while the elder Mahomes was in the TCU student section in the stands of Amon G. Carter Stadium.Public intoxication is a Class C misdemeanor. Valle was not sure when Pat Mahomes was released from jail.Pat Mahomes was taken to the Fort Worth jail before the end of the game, which Texas Tech won 27-24 in double overtime. His son scored on a 15-yard touchdown in the first overtime.The 46-year-old father was quick to respond Monday after Texas defensive end Breckyn Hager told TV reporters that his units mission was to injure that quarterback when the Longhorns play in Lubbocck on Saturday.ddddddddddddPat Mahomes tweeted are you kidding me .A reporter for the San Antonio Express-News and Houston Chronicle said Hager later was apologetic about his earlier comment and didnt mean injure literally.Patrick Mahomes got hurt the last time the Longhorns came to Lubbock. In 2014, Quandre Diggs leveled him on a quarterback run in the second quarter of a 34-13 Texas win. He looked woozy as he left the field. True freshman walk-on Vincent Testaverde Jr., son of Heisman Trophy winner Vinny Testaverde, finished the game.Texas coach Charlie Strong, in a statement from the university, said he spoke to Hager after learning about his comment.I want to make one thing clear, Strong said. We never walk into a game wanting to injure someone. We would never coach that way and thats not how our team plays. ' ' '