The online sportsbooks in Costa Rica rely on advanced computer algorithms to set pricing for the bets. These programs go as far that Artificial Intelligence (AI) systems are used, and these learn from the past outcomes, all by themselves.
The AI systems get inputs from sports statistics and scores, then apply logic, formulas, and multiple variables in the middle layer, sometimes known as the black box, or what some call the calculation and logic layer, as it happens to be the brain of the system. Finally, outputs are generated in the forms of odds set for different events and bets.
The system continuously repeats this process, learning from experience and sets new odds based on more artificial knowledge. The calculated payouts become available via the Internet and other technology platforms such as mobile betting sites.
Much of the technology comes from advanced financial systems which currency, derivatives, fixed income, and equity traders use to gain quick profits by having odds calculated that, overall, bring in net profits. Moreover, these AI systems are now capable of writing sports articles for the bookmakers. Much of the time, the readers will not tell that something has been written by a robot.
Yet, human creativity still counts. Especially when it comes to checking on the system to make sure it is not behaving irrationally. In effect, there are humans still sitting in bookmaking rooms monitoring the performance and checking on the profits made by the system, while others edit the writing done by robot journalists.
Presently, there are many foreign sportsbooks operating in this Central American country as the Costa Rican gambling laws are quite liberal and getting a license to operate is not that hard. When the top online sportsbooks arrive in the country, they bring their systems with them. So, no wonder Costa Rica got AI-based sportsbooks.