Jump to content
** March Poker League Result : =1st Bridscott, =1st Like2Fish, 3rd avongirl **
** ELO Ratings are now back **

Anytime Goalscorer System


Recommended Posts

Mildly ironic that this thread should get back to break even at the point I've been looking at the data and thinking of tweaking the formula! It's times like this that I wish I had a better than "enthusiastic amateur" understanding of statistics. @froment and @Torque you've both been kind enough to comment along the way on this idea and I'd appreciate any input on the following thoughts.

My current calculation method for true odds (entirely based on the spread prices) seems reasonably accurate in as much as the average odds predict that 346 out of 895 players would score and the actual number is, indeed, 346. To be fair though, the best odds offered by the bookies are similarly predictive at 345. Not surprisingly, taking the average of my true odds and the best bookies price is very much in the same ballpark.

Here's my idea - switch from the current method (spread only) to the average method; true price is 50% based on spread and 50% based on best bookies price. Target price remains true +10%. Rationale:

  • 2 relevant sources should provide a more accurate figure than just one
  • It makes no sense to ignore the bookies price, e.g. if I have 3 "true" 6/4 shots but the bookies go evens, 6/4 and 2/1 respectively. It makes sense that it would be more accurate to treat them as (roughly) a 5/4, 6/4 and 7/4 shot.
  • This should make it easier to get matched as there will be less instances where my target price is significantly bigger than the best available, e.g. whereas I'm now trying to get 7/4 when the best price is evens it becomes 6/4.

In a nutshell, the 2 approaches have a very similar ROI (current 8.29% v new 8.13%) but the new approach is less dependent on getting matched at a price so much higher than the best available with the bookies.

Link to comment
Share on other sites

All I'd say is what I'm sure I've said before - whether it's the old method or a new one, you need a huge sample to validate any conclusions you might wish to draw from any set of results. Broadly speaking, the smaller the edge the bigger the sample needed. Also I'm not convinced a 10 percent return is viable from a system based off of the market odds. If you constantly hit only big market outliers it won't be long before you'll be stopped from hitting those outliers.

Link to comment
Share on other sites

37 minutes ago, Torque said:

All I'd say is what I'm sure I've said before - whether it's the old method or a new one, you need a huge sample to validate any conclusions you might wish to draw from any set of results. Broadly speaking, the smaller the edge the bigger the sample needed.

Thanks. I'll continue to grow the sample. After all, this isn't data that's readily available elsewhere so I'm only going to get it if I collect it myself. Also worth saying that this isn't something I've started doing from scratch. It's an extension of how I've bet on (and generally done well on) this market over the years. It's good to test some of my assumptions and maybe tweak my selection methods to back a few more winners and a few less losers.

41 minutes ago, Torque said:

If you constantly hit only big market outliers it won't be long before you'll be stopped from hitting those outliers.

I take your point though I think a lot of the selections are on Betfair at prices that would be available whether I backed them or not so this should be more sustainable than a system that was dependent entirely on exploiting standout bookie prices.

I think I'll start backing both ways from Feb onwards and record the bets as A, B and C (old basis/new/both) and see how it goes. 

Link to comment
Share on other sites

22 hours ago, harry_rag said:

43 winners from 128 bets (33.59%) for a profit of -19.39 points.

Strike rate currently slightly lagging the overall data sample which is running at 38.82%.

And so the month ends. January saw 22 winners from 61 bets (36.07%) for a profit of 40.82 points.

Current ROI to target odds for the overall data sample (917 players) is 9.02% for the original method and 8.85% for the new one.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...