Backed by original DraftKings investors, Boston-based MIT-originated startup empowers sports bettors to compete like pros by analyzing their strategies with AI
BOSTON (March 14, 2023) – Rithmm, a cutting-edge, predictive-analytics sports betting application that empowers sports bettors to enhance performance through customized personal information algorithms, today announced its release and general availability for download in the Apple App Store and Google Play. The innovative tool provides users the ability to create smarter, more instinctual bets and was a finalist at the prestigious MIT Sloan Sports Analytics Conference startup competition.
Rithmm app users can instantaneously build a custom analytical model backed by AI and based on their instincts. The tool’s personal models then provide an analysis for every game, complete with the recommended pick, predicted score, win probability, and edge (or expected value) 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 is a powerful data platform that serves as a personal analytics team for everyday bettors to make smarter bets with ease,” said Megan Lanham, Rithmm co-founder and CEO. “Rithmm delivers an edge for users by accessing to the same sophisticated modeling and analytics tools that the pros use. This dynamic 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.
“As the US sports betting market matures, access to advanced analytics is increasingly critical to bettors of all experience levels,” said Peter Blacklow, Managing Director at Boston Seed. “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.”
Rithmm used the college football season to evaluate and finetune its models, while collecting feedback from a group of beta users. That successful model was the basis of its now-available college basketball product, which enables users to generate brackets from their own personalized models. Rithmm’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.”