Weekly Dose of Data Analyst#11 — Is betting odds a good criteria to predict NRL match outcomes ?
DISCLAIMER: THIS POST IS JUST AN SIMPLE ANALYSIS OUT OF PERSONAL INTERESTS. IT IS NOT ANY SUGGESTION OR ADVICE FOR SPORTS BETTING. BETTING IS RISKY!!!
Problem:
Recently, I have been forced to participate NRL tipping games by my friends.
I know nothing about NRL, but I want to see if there are any easy criteria out there for me to make my tipping decision easier.
Naturally, betting odds in sports betting websites have attracted my attention. Because the way betting odds being set up, if there are more people think a team is likely to win, its odds will become lower. So it is possible to calculate the possibility of a team winning based on its odds. (One thing to notice though, is that the probability here does not represent the actual probability of the match results, it only represent the subjective probability decided by bettors and bookkeepers.)
So in this post, we will be looking at how accurate the prediction will be if only betting odds is used through NRL recent history (from season 2009 and season 2020)
Similar Studies:
Upon searching the internet, I have not found any articles relate to this topic.
