Prediction is a statement made about something that is going to take place in the future. These statements are known as forecasts and are made on the basis of certain elements that are related to that certain topic about which the predictions are made. Predictions are based on knowledge and experiences one has about that certain niche. Depending upon the type of method used for predicting a certain outcome, predictions are divided into two types;
- Judgment based predictions
- Statically made prediction
Judgment based predictions are based entirely upon the past experience and knowledge that one has about the topic under consideration. When talking about sports for example prediction sites (soccer) use the performance of the team players and the team together in the previous four to five matches. This is entirely based upon their judgment on how the teams performed and how they will in the upcoming or the ongoing match. These predictions are only good for the people who make them others find such predictions very hard to trust.
On the other hand predictions made on statistical information that is provided for a game between two matches include the number of goals, penalties, player injuries and matches won by the team in the previous years. All this is statistical information. Predictions using such information are calculated through intellect algorithms and are trusted by people in contrast to the ones made by judgment.
Predicting the outcome of football matches have transformed into a business that has gained much popularity in the past years. Handicappers predict the information using various mathematical formulas, simulation models or qualitative analysis. The modern technology has increased the business as it has bought in more ways of starting and running a betting system. Football predictions have helped the bookies in a tremendous way as bookies now make thousands of dollars on every game through the internet.