Guest mikkav Posted April 6, 2004 Share Posted April 6, 2004 I've just bought the book (in my local bookshop no less) and I have to say it's a fantastic read but my question is how do yopu work out fair odds if there's a favourite-longshot bias in football. I presume it's a little different than normal Quote Link to comment Share on other sites More sharing options...
Guest DoctorOfDanger Posted April 6, 2004 Share Posted April 6, 2004 Re: A question for Joe Permit me Mikkav, till Joe comes along: Fair odds are what you make them to be. They can't be calculated exactly, only estimated. If you are referring to trying to 'remove the overround' from bookies odds, then the best option is to compare the profit at level stakes for betting on particular odds ranges. As you probably won't have enough data at each particular odds interval to accurately estimate the overround, the best compromise is to plot a line of best fit. A logarithmic approximation, in my experience, comes close. Quote Link to comment Share on other sites More sharing options...
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