The Betting Odds Algorithm
The sports betting odds algorithm takes into account a variety of factors that impact the outcome of a game. It factors in a team’s passing offense versus its defense. It also takes into account whether the team is playing on the second night of a back-to-back or a late kickoff. These factors, combined with the probability of each team converting a first down, help determine the betting odds for the game.
In one implementation, the betting odds algorithm module 116 polls a cross module 118 to determine which combination of odds is most favorable. If no cross module 118 has previously been used to determine odds for an event, the algorithm will select the first combination of odds that it receives. This combination is then cross-referenced by the cross module 118. It then sends the odds to cross module 118. It then returns to step 200 to check if all the calculated odds are favorable.
The final odds module 122 of the algorithm evaluates whether the historically generated final odds match the actual outcome of a play. It may also be used to improve the accuracy of the final odds module 122. The odds adjustment module 126 uses the information it has gathered from historical plays to adjust the odds for maximum interest while taking into account the potential for loss. It then estimates the increase in profit due to the increased interest of the user and then compares it to the expected loss. The algorithm then stores the results in a database 130, storing the results of each adjustment with a timestamp.