What is Statistico?
Statistico is the Italian translation for the word statistical however statistical on its own as a business name or a concept sounds pretty boring. Statistico on the other hand sounds exotic, exciting and mysterious.
Quindi, ai miei amici italiani, mi scuso per un nome di progetto così noioso.
No…really…What is Statistico?
To fully understand Statistico you need to understand the core principles it is built upon; Automation, Strategy and Consistency.
Our core principles are based on the opinion that many failed traders, be it forex or sports, commonly fail due to human initiated errors. Human emotion and impulse can lead to erratic decision-making, trades placed on “gut feeling” that normally leading to larger than normal stakes placed. Combine this with no real long term strategy, it can lead to a lack of consistency and causing many a trader’s bankroll to diminish when the dreaded and inevitable chase hits.
Statistico is an ecosystem, a philosophy, an ideology if you like, that harnesses technology to eliminate all human interaction. Consistency is provided by machine led selections, consistent strategies, through to automated processes removing emotion and impulse from every step of the pipeline.
Statistico is an experience that leans heavily on letting the machine do the work with human interaction removed and zero emotion involved. Using machine learning algorithms that continually adapt and improve alongside defined trading strategies, Statistico provides a consistent long term and automated trading solution.
Technology is everything
Statistico, at the very heart, is a technology organisation. Internally we actively build and maintain a suite of well-architected applications and processes that use key football statistics and machine learning models to determine the probabilities of sporting events occurring such as goals scored, number of corners or total fouls and/or cards in a match.
Calculated probabilities are used to identify inefficiencies within the sports trading markets. Alongside consistent trading strategies, integrations with leading sports exchanges are used to place trades, returning a profit over time.
From our automated statistic collection tools, in-house team rating algorithms, probability-led odds compilation functionality and integrations with leading sports exchanges. Each piece of the Statistico technology ecosystem is an independent process however when stitched together, provides a powerful and continuously evolving technology solution.
From a technical perspective, Statistico is an example of microservice oriented applications, written in a selection of programming languages, deployed within a well-architected cloud based infrastructure solution using industry best practices.
Where it began
Statistico initially started as a passion project by software engineer Joe Sweeny in 2018 in an attempt to gain exposure to new programming languages and exploring new technological concepts.
The very first Statistico application built was Statistico Football Data written in Go that integrates with the REST API provided by Sportmonks. An open source library Statistico Sportmonks Go Client shortly followed.
Having automated this process and sitting on thousands of rows of team and player statistical data the next logical concept was to explore this data, looking for patterns and trends that led to the birth of the Statistico Odds Compiler written in Python. This application initially handled the thousands of data points using machine learning concepts to generate probabilities that are converted into odds for specific football markets.
With a long-standing awareness that not all sports trading markets are efficient, coupled with an understanding of the impact of problem gambling, the philosophical movement that is Statistico was born. Armed with newly developed technology-led superpowers and an inbuilt high level of curiosity, additional applications and processes were developed to bring Statistico to the market. At the point of writing the Statistico ecosystem consists of:
- 7 applications
- 5 inter-application libraries
- 2 open sourced libraries
- 4 programming languages used
What the future holds
As outlined above Statistico brings to the market a tool that provides an emotion-free, automated, statistic and strategy led sports trading solution.
Followers of Statistico can expect to read blog posts around technological concepts used within our ecosystem alongside mathematical and probability theory content. You can also expect to read content around adopted strategies and their ongoing performance.
We aim to spark intelligent and thought-provoking conversation around the topics of technology, statistical analysis and sports trading.
