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College basketball fans from across the country spent the past couple of weeks keeping a close eye on the NCAA Division I men's and women's <a href="https://www.foxnews.com/category/sports/ncaa-bk/march-madness" target="_blank" rel="noopener">basketball tournament</a><a href="https://www.foxnews.com/category/us" target="_blank" rel="noopener">s</a>. Millions of sports enthusiasts filled out and submitted brackets with hopes their particular games' predictions would become true.The annual basketball tournament seemingly always sparks a noticeable amount of excitement across the sports world, but it also attracts the casual fan and those who might not normally participate in sports gambling. Several teams will typically compete simultaneously at different arenas across the U.S. and upsets are often plentiful, which adds to the tournament's allure.But more and more sports bettors appear to be turning to <a href="https://www.foxnews.com/category/tech/artificial-intelligence" target="_blank" rel="noopener">artificial intelligence</a> to help counter the notoriously unpredictable tournament, which is often referred to as March Madness.<a href="https://www.foxnews.com/sports" target="_blank" id="OWAf6c5c263-e13c-683a-7fc7-ddeedfa65589" rel="noopener">CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM</a>While AI is certainly a tool that fans can utilize, it is not a perfect science.Aside from the fact that AI cannot guarantee results when it comes to sports wagers, another potential downside that should be taken into consideration involves the potential exploitation of the technology.<a href="https://www.foxnews.com/sports/innovative-ai-powered-approach-to-sports-handicapping-continues-push-to-reshape-betting" target="_blank" rel="noopener">INNOVATIVE AI-POWERED APPROACH TO SPORTS HANDICAPPING CONTINUES PUSH TO RESHAPE BETTING</a>Cybercriminals are becoming more and more sophisticated. The possibility of manipulating the betting markets and taking advantage of vulnerabilities likely creates a considerable amount of intrigue for hackers.The hacking of sports betting platforms has the potential to not only negatively impact consumer confidence, it can also create serious financial consequences for companies. <a href="https://www.foxbusiness.com/money" target="_blank" rel="noopener">Billions of dollars</a> are potentially at risk if cyberattacks continue."With employees streaming games or participating in online betting pools using company devices and networks, organizations are vulnerable to a range of cyberthreats, from phishing attacks to malware infections," Advizex's VP of Strategy Matt Gaudio said in a press release sent to Fox News Digital.Furthermore, artificial intelligence can sometimes be used to exploit weaknesses in AI-powered sports betting systems. Certain AI-backed algorithms can even be programmed to attack weaknesses in online gambling systems. If hackers are successful, the distorted odds could result in a sizable amount of bets being placed under false guises in a matter of seconds.Cybersecurity experts estimate AI hacking during the <a href="https://www.foxnews.com/category/sports/ncaa-bk" target="_blank" rel="noopener">NCAA tournaments</a> alone could cost American companies more than 18 billion in losses.However, the upside to leaning into AI remains significant, especially for those who cannot afford to or simply don't want to travel to games. Access to television bundles, streaming and 4K television technology has allowed the average fan to watch their favorite team or player from the comfort of their home, even if they do not live in a given team's home market.Machine learning algorithms can also be leveraged to allow various sportsbooks to analyze a given bettor's patterns and interests to show them personalized recommendations. As a result, users are given a variety of new tools that they otherwise would not have without the technology."AI will allow for increasingly personal experiences for sports bettors, and customize quests for users, building upon the type of quests they tend to accept and complete," said Dan Taren, founder of sports betting platform Scrimmage told Boardroom."This is powerful for operators we integrate with to help their users make their betting experience feel personalized to them."When enjoyed in moderation and when spending limits are put in place, sports wagering gambling can be a fun and exciting way to enjoy a game. However, it is important that players are aware of the importance of responsible gambling.Bill Miller, president and CEO of the American Gaming Association, shared that a responsible gambler does not rely on gambling as a source of income."As someone approaches the Super Bowl or March Madness or any other sporting event where they're thinking about making the game a little bit more fun or a little bit more interesting, one, it's supposed to be fun. No one should ever believe they are going to make a living or a second job placing wagers on sporting events," Miller told Fox News Digital last year.Gamblers should also have a specific budget in mind."And number two, you set a budget, and you stick to that budget," he advised.Follow Fox News Digital’s<a href="https://twitter.com/FoxNewsSports_" target="_blank" rel="noopener noreferrer"> sports coverage on X</a>, and subscribe to<a href="https://www.foxnews.com/newsletters" target="_blank" rel="noopener noreferrer"> the Fox News Sports Huddle newsletter</a>.

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title: AI sports betting platforms' breaches likely impacting March Madness wagers
summary: AI technology is certainly not immune from the growing negative impacts of
 cyberattacks, especially has the hacks continue to evolved in frequency and complexity.
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content: College basketball fans from across the country spent the past couple
 of weeks keeping a close eye on the NCAA Division I men's and women's <a href="https://www.foxnews.com/category/sports/ncaa-bk/march-madness"
 target="_blank" rel="noopener">basketball tournament</a><a href="https://www.foxnews.com/category/us"
 target="_blank" rel="noopener">s</a>. Millions of sports enthusiasts filled out
 and submitted brackets with hopes their particular games' predictions would become
 true.The annual basketball tournament seemingly always sparks a noticeable
 amount of excitement across the sports world, but it also attracts the casual fan
 and those who might not normally participate in sports gambling. Several teams will
 typically compete simultaneously at different arenas across the U.S. and upsets
 are often plentiful, which adds to the tournament's allure.But more and more
 sports bettors appear to be turning to <a href="https://www.foxnews.com/category/tech/artificial-intelligence"
 target="_blank" rel="noopener">artificial intelligence</a> to help counter the notoriously
 unpredictable tournament, which is often referred to as March Madness.<a
 href="https://www.foxnews.com/sports" target="_blank" id="OWAf6c5c263-e13c-683a-7fc7-ddeedfa65589"
 rel="noopener">CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM</a>While
 AI is certainly a tool that fans can utilize, it is not a perfect science.Aside
 from the fact that AI cannot guarantee results when it comes to sports wagers, another
 potential downside that should be taken into consideration involves the potential
 exploitation of the technology.<a href="https://www.foxnews.com/sports/innovative-ai-powered-approach-to-sports-handicapping-continues-push-to-reshape-betting"
 target="_blank" rel="noopener">INNOVATIVE AI-POWERED APPROACH TO SPORTS
 HANDICAPPING CONTINUES PUSH TO RESHAPE BETTING</a>Cybercriminals
 are becoming more and more sophisticated. The possibility of manipulating the betting
 markets and taking advantage of vulnerabilities likely creates a considerable amount
 of intrigue for hackers.The hacking of sports betting platforms has the potential
 to not only negatively impact consumer confidence, it can also create serious financial
 consequences for companies. <a href="https://www.foxbusiness.com/money" target="_blank"
 rel="noopener">Billions of dollars</a> are potentially at risk if cyberattacks continue."With
 employees streaming games or participating in online betting pools using company
 devices and networks, organizations are vulnerable to a range of cyberthreats, from
 phishing attacks to malware infections," Advizex's VP of Strategy Matt Gaudio said
 in a press release sent to Fox News Digital.Furthermore, artificial intelligence
 can sometimes be used to exploit weaknesses in AI-powered sports betting systems.
 Certain AI-backed algorithms can even be programmed to attack weaknesses in online
 gambling systems. If hackers are successful, the distorted odds could result in
 a sizable amount of bets being placed under false guises in a matter of seconds.Cybersecurity
 experts estimate AI hacking during the <a href="https://www.foxnews.com/category/sports/ncaa-bk"
 target="_blank" rel="noopener">NCAA tournaments</a> alone could cost American companies
 more than 18 billion in losses.However, the upside to leaning into AI remains
 significant, especially for those who cannot afford to or simply don't want to travel
 to games. Access to television bundles, streaming and 4K television technology has
 allowed the average fan to watch their favorite team or player from the comfort
 of their home, even if they do not live in a given team's home market.Machine
 learning algorithms can also be leveraged to allow various sportsbooks to analyze
 a given bettor's patterns and interests to show them personalized recommendations.
 As a result, users are given a variety of new tools that they otherwise would not
 have without the technology."AI will allow for increasingly personal experiences
 for sports bettors, and customize quests for users, building upon the type of quests
 they tend to accept and complete," said Dan Taren, founder of sports betting platform
 Scrimmage told Boardroom."This is powerful for operators we integrate with
 to help their users make their betting experience feel personalized to them."When
 enjoyed in moderation and when spending limits are put in place, sports wagering
 gambling can be a fun and exciting way to enjoy a game. However, it is important
 that players are aware of the importance of responsible gambling.Bill Miller,
 president and CEO of the American Gaming Association, shared that a responsible
 gambler does not rely on gambling as a source of income."As someone approaches
 the Super Bowl or March Madness or any other sporting event where they're thinking
 about making the game a little bit more fun or a little bit more interesting, one,
 it's supposed to be fun. No one should ever believe they are going to make a living
 or a second job placing wagers on sporting events," Miller told Fox News Digital
 last year.Gamblers should also have a specific budget in mind."And
 number two, you set a budget, and you stick to that budget," he advised.Follow
 Fox News Digital’s<a href="https://twitter.com/FoxNewsSports_" target="_blank"
 rel="noopener noreferrer"> sports coverage on X</a>, and subscribe to<a href="https://www.foxnews.com/newsletters"
 target="_blank" rel="noopener noreferrer"> the Fox News Sports Huddle newsletter</a>.
carlessian_info:
 news_filer_version: 2
 newspaper: US - Fox News
 macro_region: USA
url: https://www.foxnews.com/sports/ai-sports-betting-platforms-breaches-likely-impacting-march-madness-wagers
image: https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2023/08/931/523/NCAA-basketball.jpg?ve=1&tl=1
published: 2024-04-05 06:00:50.000000000 Z

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