A new predictive analytics sports betting application called Rithmm has launched, now available for download in the Apple App Store and Google Play. The product aims to empower sports bettors “to enhance performance through customized personal information algorithms.”
This tool, which was a finalist at the MIT Sloan Sports Analytics Conference startup competition, provides users the ability to create “smarter, more instinctive bets,” according to its developers.
— rithmm (@bet_rithmm) March 6, 2023
Through Rithmm, users can build a custom analytical model backed by AI. The tool’s personal models then provide an analysis for every game, complete with the recommended pick, predicted score, win profitability, and edge on market odds. “By simplifying complex modeling, the betting skillset barrier has been removed, making it fast, easy and available to any level of bettor,” Rithmm
Megan Lanham, Rithmm co-founder and CEO, said: “Rithmm is a powerful data platform that serves as a personal analytics team for everyday bettors to make smarter bets with ease. It delivers an edge for users by accessing the same sophisticated modeling and analytics tools that the pros use.”
According to Lanham, the app “is going to be a game changer that will uplevel the skills and success of sports bettors.” The Boston-based startup is a majority female-founded and MIT-originated startup backed by a syndicate of investors that includes three of the original DraftKings seed investors – Boston Seed Capital, Accomplice and Counterview Capital – as well as Permit Ventures.
Peter Blacklow, Managing Director at Boston Seed, commented: “As the US sports betting market matures, access to advanced analytics is increasingly critical to bettors of all experience levels.”
“We believe Rithmm is changing the industry by creating analytics tools that are even more powerful and customizable for consumers. Teaching them how to personalize their betting decisions is the key to making smarter betting decisions, and Rithmm is the first company to do this,” he concluded.
Send this to the college basketball fan in your life 👇 pic.twitter.com/6PzCIE8AqK
— rithmm (@bet_rithmm) February 5, 2023
Rithmm used the college football season to evaluate and finetune its models, while collecting feedback from a group of beta users. That model was the basis of its now-available college basketball product, which enables users to generate brackets from their own personalized models.
The app’s NBA model will be available in the spring, followed shortly thereafter by the WNBA. A premium product is expected to be launched in the fall, allowing users to further customize their models with hand-selected statistics for the NFL, college football and the English Premier League.
“Rithmm has the potential to disrupt the industry because it crafts and customizes users’ own algorithm in order to make more informed bets,” Lanham said. “It is a smarter, more powerful sports betting tool than anything else available in the market and we are thrilled to unveil it ahead of the NCAA basketball March Madness tournament.”