Tuan Nguyen Doan When properly applied, stochastic simulations can add enormous value to organizations that leverage their data correctly. That said, as data sets and decision spaces grow larger, Machine Learning quickly becomes the preferred method for analysis. This is particularly the case when it is not only computation that we require but also prediction. A sportsbook may seek to not only gain real-time insight into their risk profile but also to cross reference that with user data and behavioral insights in order to optimally adjust betting lines to induce particular responses. 8211;> The probability of obtaining profit after 400 bets (more or less 1 month) is 88 8211;> The probability of being in positive after 400 bets (more or less 1 month) is 88. Fixed-odds bookmakers rarely post opening lines that strike the perfect balance, which is why odds change dynamically as the start of the event approaches. In fact, many experts suggest that a majority of sports bettors would be maximally profitable if they simply sought to gain an edge by betting certain opening lines before they close at less favorable odds, the delta of which is known as Closing Line Value (CLV).