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Do Neural Networks in Sports Predictions work?

Question by Codo: Do Neural Networks in Sports Predictions work?
Does using a Neural Network in sports prediction work well? I understand it can work to some extent, but can it actually beat the odds of bookmakers consistently if used correctly with adequate historical data?

If you dont know what Neural Networks are, please dont answer to point score, wiki it.

Best answer:

Answer by tlbs101
They are still only as good as the information put into them. If a human brain cannot predict the actual future, then neither can a neural network — even if that neural net is as ‘perfect’ as a human brain.

Can a neural net improve the odds of a prediction? yes and no.

Yes, because it will not be influenced by emotion, or ‘homerism’. It will work with, ‘just the facts’. If the formulas that are used are very good and the data is very good, the neural net can actually learn as time goes on and it can have a high rate of success (but not even a neural net can be perfect).

No, because of the same argument above — it is only as good as the formulas and data you provide it with. It will make mistakes in predictions.

It could be something as simple as; Jamie Moyer ate a custard-donut 2 hours before the game instead of his regular granola snack, so his sugar level spiked and started to drop in the 7th inning — so he pitches a strike 2 mph slower than he should have and Utley gets his (game winning) 21st homer. There is almost no way a neural net could have picked up on that one.

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Posted by JasonRocker - December 13, 2011 at 10:31 am

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Stock Market Predictions In 2010 > Stock Market Forecast – Outlook Recovery

 

In the stock market it’s not impossible to watch a stock move up dramatically in a matter of hours or days. Investors and traders can make great money and fatten their wallets every time this happens.

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Complicated stock trading strategies that rely on a “boat load” of technical analysis indicators can make you slow, and being slow when trading stocks can be as dangerous as not knowing what to do in the first place. 

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Posted by JasonRocker - October 13, 2011 at 4:09 pm

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