Bot Betting Edge

Bot Betting Edge

The Blog

This blog will contain my reflections and progress within the field of modelling and predicting sports probabilities, especially for soccer matches inplay. Although placing bets on different matches I don't consider myself as a bettor, I see myself as an investor placing money where I have edge and finds value. Sports betting is fantastic!

Market efficency and finding a nische

AnalysisPosted by Tobias Bramhed Thu, May 26, 2016 22:43:01
Did a little data exercise to see how good the pregame market has been to nail the correct probability for home/draws/away wins. The data consist of 91515 soccer matches played in 2014,2015 and 2016.

I calculated the implied probabilities from the pregame odds (1/odds), and distributed the over-round evenly over the three scenarios. Then I summed them together with the actual wins.

This first table shows that the market hade the most problems with the Away predictions. Market predicted the Away teams to win corresponding to 29027 times, but they actually only won 28192 times (which is a diff of 2.9%).

I dug a little deeper to see how the situation is when dividing by pregame favorite:

Now I start to identify some areas which the market seems to have bigger problems with... such as the probability for an Away win when the pregame favorite is a Home win.

This could be a starting point when designing a new strategy. Find a nische where the market has problems, and try to be the best in that nische :) Now I will continue to mine my data, and see if I can find a new nische area.

  • Comments(0)

Fill in only if you are not real

The following XHTML tags are allowed: <b>, <br/>, <em>, <i>, <strong>, <u>. CSS styles and Javascript are not permitted.