‘Element Of Uncertainty Squashed’:Welcome The LRMC! – Gizmo Watch
“Bookies will soon be out of business, thanks to a new computer system that predicts the outcome of a game. Based on a model called the Logic Regression Markov Chain (LRMC), the system has already been tested on the 2008 US NCAA basketball season. The ranking system had accurately predicted all four finalists – a serious cause of concern for the betting business. The LRMC uses basic scoreboard data to analyze and predict event outcomes. It takes into account team results, team strength, home court advantage, victory margin, etc. to identify final participants of a game with a great degree of accuracy, which is currently in the range of 83%. Since the system is objective in its prediction, the outcomes are determined with a balanced mathematical analysis. Although there is little doubt about its effectiveness, one does wonder if the ‘element of uncertainty’ would be compromised. Let’s wait and see!