Boston-based sports betting startup Rithmm has announced the release of its innovative sports betting application for Android and iOS platforms.
Tuesday’s rollout of the AI-powered, predictive analytics app means bettors have the chance to verify the product’s USP. As a Rithmm news release claims, this helps bettors create “smarter, more instinctual bets.”
Is Rithmm something that will cause bookies to sing the blues? Equity researcher Alfonso Straffon shared an observation via Twitter:
Co-founder and CEO of Rithmm, Megan Lanham, said the app gives users the same edge pros have, and that it was “going to be a game changer.”
Bankrolled by Permit Ventures and three of DraftKings’ founding investors – Accomplice, Boston Seed Capital, and Counterview Capital – the app allows users to tailor-make a wagering model by combining a bettor’s hunch with an AI’s analytics.
Boston Seed managing director Peter Blacklow said Rithmm “is changing the industry” by giving bettors analytical tools that are “even more powerful and customizable.”
Blacklow stated in the news release that arming users of all experience levels with advanced wagering tools was increasingly critical in the maturing US sports betting market. He added that Rithmm was the first firm to teach bettors that customizing their bets was “the key to making smarter betting decisions.”
predicted score, win probability, and edge (or expected value)”
According to the company, the app provides a detailed analysis for every game, including the AI-recommended pick, “predicted score, win probability, and edge (or expected value) on market odds.”
Lanham said the app was the most powerful tool on the market with the potential to shake up the industry. With the NCAA basketball March Madness tournament coming up — during which the American Gaming Association expects bettors to wager $15.5bn — Lanham expressed her excitement for the app’s timely release.
Math meets sports
According to Rithmm, the app saw action during the college basketball season. The Boston start-up stated it will launch the app to the NBA in the spring, followed by the WNBA. Betting on the NFL, the English Premier League, and college football is expected in the fall, when the company launches its premium product.
former DI basketball coach and a PhD math nerd” walked into a March Madness party
A mostly female team of MIT alumni established Rithmm after a “former DI basketball coach and a PhD math nerd” walked into a March Madness party. According to its website, the idea for the apparrived in an MIT stats class, where the team focused on using what they were learning to make better bets.