I can imagine how to use AI for sports betting, but since Chat GPT's database is not updated regularly(in fact it's more than a year old, if I'm nit mistaken),we can't use the AI for that yet....
Correct, it cannot (yet) fetch any data from external sources, so it has to rely on the training data "fed" to him by developers. The most recent data is from Sep 2021.
... But my question is, how, even theoretically, we can use AI for the games of chance? I mean, it can tell you what part of your bankroll to stake at once to, theoretically, last longer, but in reality your very first bet can be that with the highest multiplier possible, and no AI can tell you for sure that it won't happen.
It won't be very useful for games with mathematically determined odds, where the house has an edge. But (when it's able to collect data from external sources) it could be good for things like looking for positive EV opportunities on numerous different gambling sites (i.e. with high enough Jackpot and low number of players, the mathematical edge can sway on your side). But it'd probably most useful for gambling with "judgmental" odds, i.e. sports betting, where it could be looking for arbitrage opportunities (but I think we already have that for quite a while) or it could run an advanced analysis on teams performance, past results, patterns etc and could help you find good value bets (i.e. with pay-out rates higher than they should be). Then it could help you decide on the size of the wager for best long-term effects.
The problem is, if such tools will be available to players, bookies will also be using them in order to not get screwed.