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    All Forums | Systems & Strategies

    Using Mean Positioning Of Stats To Predict Chance Of Winning

    12 Next Last»
    Tomspeople
    SecondAgain
    Stake24
    kevk87
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    Views: 918
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    12 Next Last»
     
    Tomspeople
    Tomspeople
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    Posted: Nov. 8, 2008 - 5:44 PM ET #1

    This is simple really. It's basically a way to find which team is giving better odds for their chance of winning and bet on that team I take the rank of each team in 8 stats, and find their mean(avg) rank overall.

    For example (I use 8 stats, but will only use 3 for this example):
    Let's say Toronto is ranked 17th in G/G, 12th in PP%, and 14th in FO%
    That means they have a mean rank of 14.33
    Now let's say Montreal is ranked 3rd in G/G, 15th in PP% and 5th in FO%.
    That means they have a mean rank of 7.67

    The way I would calculate the chance of winning would be the higher rank/sum of both ranks. That would give the chance of the team with the lower rank (meaning better stats) winning.
    In the example above, that would be 14.33/22 = 65.14%
    First note that it will be more accurate if we use more than only 3 stats, which as I mentioned, I use 8.
    65.14% = -187, which would be the 'fair moneyline'
    If the line is lower than this (ex. -140) take the favourite.
    If the line is worse (ex. -200) play the dog if the dog gives better than +187.
    If the actual line was +180/-200, it wouldn't be played, as it meets neither quality there for there is 'no value' betting either team.

    I'm going to be playing every game, and have the stats separated into 3 categories:
    A) Favourites
    B) Dogs where the dogs chance of winning is >= 50%
    C) Other Dogs

    Without anymore mumbling on, here's today's games.

    The fomat will be..
    Vis/Home
    Team with higher chance, %chance
    The Pick

    November 8th, 2008
    Buf/Bos
    Both 50%
    Buf +120 [B]

    Mon/Tor
    Mon 65.46%
    Mon -142 [A]

    Pit/NYI
    Pit 59.66%
    NYI +150 [C]

    TB/Phi
    TB 50.90%
    TB +137 [B]

    NYR/Was
    NYR 57.92%
    NYR +109 [B]

    NJ/Det
    Det 57.46%
    NJ +210 [C]

    Cal/Clb
    Cal 56.15%
    Cal -115 [A]

    Nsh/Col
    Nsh 53.21%
    Nsh +132 [B]

    Fla/Pho
    Pho 52.11%
    Fla +144 [C]

    Min/Van
    Van 51.91%
    Min +134 [C]

    Dal/SJ
    SJ 75.24%
    SJ -197 [A]

    Stl/LA
    LA 52.55%
    Stl +122 [C]
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    To remove first post, remove entire topic.
    This is simple really. It's basically a way to find which team is giving better odds for their chance of winning and bet on that team I take the rank of each team in 8 stats, and find their mean(avg) rank overall.

    For example (I use 8 stats, but will only use 3 for this example):
    Let's say Toronto is ranked 17th in G/G, 12th in PP%, and 14th in FO%
    That means they have a mean rank of 14.33
    Now let's say Montreal is ranked 3rd in G/G, 15th in PP% and 5th in FO%.
    That means they have a mean rank of 7.67

    The way I would calculate the chance of winning would be the higher rank/sum of both ranks. That would give the chance of the team with the lower rank (meaning better stats) winning.
    In the example above, that would be 14.33/22 = 65.14%
    First note that it will be more accurate if we use more than only 3 stats, which as I mentioned, I use 8.
    65.14% = -187, which would be the 'fair moneyline'
    If the line is lower than this (ex. -140) take the favourite.
    If the line is worse (ex. -200) play the dog if the dog gives better than +187.
    If the actual line was +180/-200, it wouldn't be played, as it meets neither quality there for there is 'no value' betting either team.

    I'm going to be playing every game, and have the stats separated into 3 categories:
    A) Favourites
    B) Dogs where the dogs chance of winning is >= 50%
    C) Other Dogs

    Without anymore mumbling on, here's today's games.

    The fomat will be..
    Vis/Home
    Team with higher chance, %chance
    The Pick

    November 8th, 2008
    Buf/Bos
    Both 50%
    Buf +120 [B]

    Mon/Tor
    Mon 65.46%
    Mon -142 [A]

    Pit/NYI
    Pit 59.66%
    NYI +150 [C]

    TB/Phi
    TB 50.90%
    TB +137 [B]

    NYR/Was
    NYR 57.92%
    NYR +109 [B]

    NJ/Det
    Det 57.46%
    NJ +210 [C]

    Cal/Clb
    Cal 56.15%
    Cal -115 [A]

    Nsh/Col
    Nsh 53.21%
    Nsh +132 [B]

    Fla/Pho
    Pho 52.11%
    Fla +144 [C]

    Min/Van
    Van 51.91%
    Min +134 [C]

    Dal/SJ
    SJ 75.24%
    SJ -197 [A]

    Stl/LA
    LA 52.55%
    Stl +122 [C]
     
    Tomspeople
    Tomspeople
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    Posted: Nov. 9, 2008 - 11:36 AM ET #2

    Well not the start we wanted, but I'm sure it will turn around. Atleast B, which is basically what I've used the last few years to hit over 50% each year betting only dogs.

    A = 1-2 -1.57u
    B = 1-3 -1.63u
    C = 0-5 -5.00u

    November 9th, 2008
    Atl/Car
    Car 57.76%
    Atl +168 [C]

    Cal/Chi
    Chi 55.90%
    Cal +153 [C]

    Edm/NJ
    NJ 59.87%
    NJ -103 [B]

    Fla/Ana
    Ana 61.88%
    Fla +215 [C]

    SJ/Phx
    SJ 75.82%
    SJ -147 [A]
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    Well not the start we wanted, but I'm sure it will turn around. Atleast B, which is basically what I've used the last few years to hit over 50% each year betting only dogs.

    A = 1-2 -1.57u
    B = 1-3 -1.63u
    C = 0-5 -5.00u

    November 9th, 2008
    Atl/Car
    Car 57.76%
    Atl +168 [C]

    Cal/Chi
    Chi 55.90%
    Cal +153 [C]

    Edm/NJ
    NJ 59.87%
    NJ -103 [B]

    Fla/Ana
    Ana 61.88%
    Fla +215 [C]

    SJ/Phx
    SJ 75.82%
    SJ -147 [A]
     
    Tomspeople
    Tomspeople
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    Posts: 1476
    Posted: Nov. 10, 2008 - 11:04 AM ET #3

    Another day that wasn't great, although we did have a profit (0.33u) so I guess we can't complain lol

    A = 1-3 -3.04u
    B = 1-4 -2.66u
    C = 2-6 -2.17u

    November 10th, 2008
    Edm/NYR
    NYR 66.18%
    NYR -169 [A]

    TB/Was
    Was 58.17%
    TB +155 [C]
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    Another day that wasn't great, although we did have a profit (0.33u) so I guess we can't complain lol

    A = 1-3 -3.04u
    B = 1-4 -2.66u
    C = 2-6 -2.17u

    November 10th, 2008
    Edm/NYR
    NYR 66.18%
    NYR -169 [A]

    TB/Was
    Was 58.17%
    TB +155 [C]
     
    Tomspeople
    Tomspeople
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    Posts: 1476
    Posted: Nov. 11, 2008 - 3:24 PM ET #4

    A = 1-4 -4.73u
    B = 1-4 -2.66u
    C = 2-7 -3.17u

    November 11th, 2008
    Phi/NYI
    Phi 54.92%
    NYI +135 [C]

    Pit/Det
    Det 64.41%
    Neither

    Ott/Mon
    Mon 58.79%
    Ott +146 [C]

    Tor/Cal
    Tor 55.88%
    Tor +132 [B]

    Dal/LA
    LA 58.22%
    LA +107 [B]

    Nsh/SJ
    SJ 73.08%
    SJ -220 [A]



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    A = 1-4 -4.73u
    B = 1-4 -2.66u
    C = 2-7 -3.17u

    November 11th, 2008
    Phi/NYI
    Phi 54.92%
    NYI +135 [C]

    Pit/Det
    Det 64.41%
    Neither

    Ott/Mon
    Mon 58.79%
    Ott +146 [C]

    Tor/Cal
    Tor 55.88%
    Tor +132 [B]

    Dal/LA
    LA 58.22%
    LA +107 [B]

    Nsh/SJ
    SJ 73.08%
    SJ -220 [A]



     
    SecondAgain
    SecondAgain
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    Posted: Nov. 11, 2008 - 3:30 PM ET #5

    Quote Originally Posted by Tomspeople:

    This is simple really. It's basically a way to find which team is giving better odds for their chance of winning and bet on that team


    That is a little concept called value

    You are on the right track. Try using the actual numbers instead of the rank
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    Quote Originally Posted by Tomspeople:

    This is simple really. It's basically a way to find which team is giving better odds for their chance of winning and bet on that team


    That is a little concept called value

    You are on the right track. Try using the actual numbers instead of the rank
     
    Tomspeople
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    Posts: 1476
    Posted: Nov. 13, 2008 - 8:17 PM ET #6

    Thanks SA, I understand what value is though :P And I use rank so I can define stats relative to the other teams.

    A = 1-5 -6.93u
    B = 2-5 -2.59u
    C = 2-9 -5.17u

    November 13th, 2008
    Mon/Bos
    Mon 53.66%
    Bos +120 [C]

    NYI/Ott
    Ott 57.53%
    NYI +200 [C]

    Phi/Pit
    Pit 56.30%
    Phi +152 [C]

    Det/TB
    Det 69.23%
    Det -200 [A]

    Phx/Min
    Min 51.47%
    Phx +168 [C]

    LA/Dal
    LA 60.27%
    LA +162 [B]

    Tor/Edm
    Tor 61.02%
    Tor +122 [B]

    Cal/SJ
    SJ 68.79%
    SJ -182 [A]

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    Thanks SA, I understand what value is though :P And I use rank so I can define stats relative to the other teams.

    A = 1-5 -6.93u
    B = 2-5 -2.59u
    C = 2-9 -5.17u

    November 13th, 2008
    Mon/Bos
    Mon 53.66%
    Bos +120 [C]

    NYI/Ott
    Ott 57.53%
    NYI +200 [C]

    Phi/Pit
    Pit 56.30%
    Phi +152 [C]

    Det/TB
    Det 69.23%
    Det -200 [A]

    Phx/Min
    Min 51.47%
    Phx +168 [C]

    LA/Dal
    LA 60.27%
    LA +162 [B]

    Tor/Edm
    Tor 61.02%
    Tor +122 [B]

    Cal/SJ
    SJ 68.79%
    SJ -182 [A]

     
    Stake24
    Stake24
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    Posted: Nov. 14, 2008 - 8:25 AM ET #7

    Nice work Tom. I'm not sure what all 8 of your categories are but some of the stats are so close that rank would not matter maybe I'm wrong.
    For example shutouts 10 teams could have 0 but have a ranking difference of 10. Just a thought.

    Nice day though I had NYI +190 I play all dogs playing a -200 favorite. +6.3 ytd 
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    Nice work Tom. I'm not sure what all 8 of your categories are but some of the stats are so close that rank would not matter maybe I'm wrong.
    For example shutouts 10 teams could have 0 but have a ranking difference of 10. Just a thought.

    Nice day though I had NYI +190 I play all dogs playing a -200 favorite. +6.3 ytd 
     
    Tomspeople
    Tomspeople
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    Posted: Nov. 14, 2008 - 8:55 AM ET #8

    Quote Originally Posted by Stake24:

    Nice work Tom. I'm not sure what all 8 of your categories are but some of the stats are so close that rank would not matter maybe I'm wrong.
    For example shutouts 10 teams could have 0 but have a ranking difference of 10. Just a thought.

    Nice day though I had NYI +190 I play all dogs playing a -200 favorite. +6.3 ytd 

    I understand exactly what you're saying, and I've taken that into account with this by not using those stats such as Shutouts, or even wins.
    The stats I use are GF/G, GA/G, 5-5F/A, PP%, PK% SF/G, SA/G, FO%

    Also, I'm most confident in the [B] category since it's very similar to what I've used hitting over 50% betting only dogs for the last few years.
    And it went 2-0 +2.84u yesterday, making the B section profitable so far, and I'm sure it will increase more :)
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    Quote Originally Posted by Stake24:

    Nice work Tom. I'm not sure what all 8 of your categories are but some of the stats are so close that rank would not matter maybe I'm wrong.
    For example shutouts 10 teams could have 0 but have a ranking difference of 10. Just a thought.

    Nice day though I had NYI +190 I play all dogs playing a -200 favorite. +6.3 ytd 

    I understand exactly what you're saying, and I've taken that into account with this by not using those stats such as Shutouts, or even wins.
    The stats I use are GF/G, GA/G, 5-5F/A, PP%, PK% SF/G, SA/G, FO%

    Also, I'm most confident in the [B] category since it's very similar to what I've used hitting over 50% betting only dogs for the last few years.
    And it went 2-0 +2.84u yesterday, making the B section profitable so far, and I'm sure it will increase more :)
     
    Stake24
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    Posted: Nov. 14, 2008 - 9:36 AM ET #9

    I really like betting dogs you can't go wrong with no juice.


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    I really like betting dogs you can't go wrong with no juice.


     
    Stake24
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    Posted: Nov. 14, 2008 - 10:02 AM ET #10

    Tom what is the formula if you don't mind.
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    Tom what is the formula if you don't mind.
     
    Tomspeople
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    Posted: Nov. 14, 2008 - 10:39 AM ET #11

    Quote Originally Posted by Stake24:

    Tom what is the formula if you don't mind.


    I don't mind at all. Actually, I tried to explain it in the first post but it looks like it wasn't very clear :P Basically, I take each of the two teams ranking in each of the 8 stats I listed a couple posts ago. Then, I take what ever team has the worse rank (higher number) and divide that by the sum of the average ranks of the two teams. That gives me a %. This represents the estimated chance of the team with the better average rank (lower number) winning. I then convert it to what would be (in this systems terms) a 'fair' line. Then I'd simply compare it to the actual line of the game and it will usually meet one of the 3 categories (which I have listed A,B,C) 

    Here's an example using very basic numbers. Usually the numbers would be like.. 15.875 lol, but we'll use 8 and 12 for simplicity.
    Let's say, Toronto is playing at Edmonton. Now let's assume Toronto has an average rank of 8. Edmonton has a rank of 12.
    So we'd do 12/(12+8) = 12/20 = 60%
    So this means that we assume Toronto has a 60% chance of winning. We know 60% = a fair line of -150.
    So, there are 3 possibilities. (well I guess 4 technically)
    A) If Toronto is a favourite between -101 and -150, we are getting good value and would take them.
    B) If Toronto is an Underdog then obviously we are getting really good odds, we're getting +money for a >50% chance of winning. (my favourite circumstance)
    C) If Toronto is favoured by -151 or more, then we're laying to much juice and should bet the dog (Edm) PROVIDED that Edmonton's line is greater than +150 also.

    The fourth (rarer) circumstance is that Toronto could be favoured by more than -150 meaning we should play C, except that Edmonton's line is less than +150, meaning we're not getting the dog value.
    This can occur for example, if the line was -155/+145.
    In this possibility, the game would be a no play.

    When I get around to posting my games for today (around 12 probably) I'll give a detailed walkthrough for one of the games and if you still have questions, feel free to ask. I'm glad you're interested :)
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    Quote Originally Posted by Stake24:

    Tom what is the formula if you don't mind.


    I don't mind at all. Actually, I tried to explain it in the first post but it looks like it wasn't very clear :P Basically, I take each of the two teams ranking in each of the 8 stats I listed a couple posts ago. Then, I take what ever team has the worse rank (higher number) and divide that by the sum of the average ranks of the two teams. That gives me a %. This represents the estimated chance of the team with the better average rank (lower number) winning. I then convert it to what would be (in this systems terms) a 'fair' line. Then I'd simply compare it to the actual line of the game and it will usually meet one of the 3 categories (which I have listed A,B,C) 

    Here's an example using very basic numbers. Usually the numbers would be like.. 15.875 lol, but we'll use 8 and 12 for simplicity.
    Let's say, Toronto is playing at Edmonton. Now let's assume Toronto has an average rank of 8. Edmonton has a rank of 12.
    So we'd do 12/(12+8) = 12/20 = 60%
    So this means that we assume Toronto has a 60% chance of winning. We know 60% = a fair line of -150.
    So, there are 3 possibilities. (well I guess 4 technically)
    A) If Toronto is a favourite between -101 and -150, we are getting good value and would take them.
    B) If Toronto is an Underdog then obviously we are getting really good odds, we're getting +money for a >50% chance of winning. (my favourite circumstance)
    C) If Toronto is favoured by -151 or more, then we're laying to much juice and should bet the dog (Edm) PROVIDED that Edmonton's line is greater than +150 also.

    The fourth (rarer) circumstance is that Toronto could be favoured by more than -150 meaning we should play C, except that Edmonton's line is less than +150, meaning we're not getting the dog value.
    This can occur for example, if the line was -155/+145.
    In this possibility, the game would be a no play.

    When I get around to posting my games for today (around 12 probably) I'll give a detailed walkthrough for one of the games and if you still have questions, feel free to ask. I'm glad you're interested :)
     
    Stake24
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    Posted: Nov. 14, 2008 - 11:09 AM ET #12

    So I ran the numbers on the Nas vs Ana game and Anaheim has about a .5 higher(worse) rank than Nas. Seeing that right there would steer me towards Nas but I'm not sure if I got it right. also what is 5-5F/A?
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    So I ran the numbers on the Nas vs Ana game and Anaheim has about a .5 higher(worse) rank than Nas. Seeing that right there would steer me towards Nas but I'm not sure if I got it right. also what is 5-5F/A?
     
    Tomspeople
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    Posted: Nov. 14, 2008 - 11:26 AM ET #13

    Quote Originally Posted by Stake24:

    So I ran the numbers on the Nas vs Ana game and Anaheim has about a .5 higher(worse) rank than Nas. Seeing that right there would steer me towards Nas but I'm not sure if I got it right. also what is 5-5F/A?


    I checked and had Nsh at 17 and Anaheim at 15.75

    Also, 5-5F/A is the ratio of GF and GA when playing 5 on 5 (full strength)
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    Quote Originally Posted by Stake24:

    So I ran the numbers on the Nas vs Ana game and Anaheim has about a .5 higher(worse) rank than Nas. Seeing that right there would steer me towards Nas but I'm not sure if I got it right. also what is 5-5F/A?


    I checked and had Nsh at 17 and Anaheim at 15.75

    Also, 5-5F/A is the ratio of GF and GA when playing 5 on 5 (full strength)
     
    Stake24
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    Posted: Nov. 14, 2008 - 11:42 AM ET #14

    That calculates out to Nas 51.85% chance to win which would be Nas -110. Where are you getting the 5-5f/a rank from?
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    That calculates out to Nas 51.85% chance to win which would be Nas -110. Where are you getting the 5-5f/a rank from?
     
    Stake24
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    Posted: Nov. 14, 2008 - 1:09 PM ET #15

    Ignore that previous post I had the numbers backwards
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    Ignore that previous post I had the numbers backwards
     
    Tomspeople
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    Posted: Nov. 14, 2008 - 1:25 PM ET #16

    You can find all the stats on nhl.com

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    You can find all the stats on nhl.com

     
    Tomspeople
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    Posted: Nov. 14, 2008 - 11:34 PM ET #17

    A = 3-5 -4.93u
    B = 4-5 +0.25u
    C = 4-11 -3.97u

    November 14th, 2008
    Nsh/Ana
    Ana 51.91%
    Nsh +173 [C]

    NJ/Was
    Was 58.41%
    NJ +175 [C]

    Clb/Buf
    Buf 56.52%
    Clb +157 [C]

    Car/Atl
    Car 53.21%
    No play

    Det/Fla
    Det 70.92%
    Det -153 [A]

    Stl/Chi
    Chi 65.89%
    Chi -185 [A]
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    A = 3-5 -4.93u
    B = 4-5 +0.25u
    C = 4-11 -3.97u

    November 14th, 2008
    Nsh/Ana
    Ana 51.91%
    Nsh +173 [C]

    NJ/Was
    Was 58.41%
    NJ +175 [C]

    Clb/Buf
    Buf 56.52%
    Clb +157 [C]

    Car/Atl
    Car 53.21%
    No play

    Det/Fla
    Det 70.92%
    Det -153 [A]

    Stl/Chi
    Chi 65.89%
    Chi -185 [A]
     
    Stake24
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    Posted: Nov. 15, 2008 - 3:32 AM ET #18

    Hey Tome another good night. Couple things do you think maybe you should adjust the numbers for home vs away for example home teams are winning at 54.77% this year.
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    Hey Tome another good night. Couple things do you think maybe you should adjust the numbers for home vs away for example home teams are winning at 54.77% this year.
     
    Stake24
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    Posted: Nov. 15, 2008 - 3:42 AM ET #19

    I got Tor, Col, Bos and Buff as [b] bets for Saturday. Just comparing to see if I'm doing this right.
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    I got Tor, Col, Bos and Buff as [b] bets for Saturday. Just comparing to see if I'm doing this right.
     
    kevk87
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    Posted: Nov. 15, 2008 - 4:35 AM ET #20

    have you try back testing it using the kelly criterion? 
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    have you try back testing it using the kelly criterion? 
     
    Stake24
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    Posted: Nov. 15, 2008 - 7:04 AM ET #21

    https://en.wikipedia.org/wiki/Kelly_criterion

    How would we use this?
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    https://en.wikipedia.org/wiki/Kelly_criterion

    How would we use this?
     
    Tomspeople
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    Posted: Nov. 15, 2008 - 11:55 AM ET #22

    Quote Originally Posted by Stake24:

    I got Tor, Col, Bos and Buff as [b] bets for Saturday. Just comparing to see if I'm doing this right.

    I haven't looked at the stats yet, but those seem like they would be correct. I'll make sure to have the games up before the games start tonight :P I got really busy yesterday, family issues and some traveling lol
    And no I wouldn't use the kelly criterion or any type of money management that changes the units bet per game. It's strictly BAD money management. I see people that are like "Oh this has a better chance of winning, I'll bet 5 units on this game and 1 units on the other 3." They can get a 3-1 night and lose. I'll make a thread sometime this weekend proving how it won't help at all.
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    Quote Originally Posted by Stake24:

    I got Tor, Col, Bos and Buff as [b] bets for Saturday. Just comparing to see if I'm doing this right.

    I haven't looked at the stats yet, but those seem like they would be correct. I'll make sure to have the games up before the games start tonight :P I got really busy yesterday, family issues and some traveling lol
    And no I wouldn't use the kelly criterion or any type of money management that changes the units bet per game. It's strictly BAD money management. I see people that are like "Oh this has a better chance of winning, I'll bet 5 units on this game and 1 units on the other 3." They can get a 3-1 night and lose. I'll make a thread sometime this weekend proving how it won't help at all.
     
    Tomspeople
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    Posted: Nov. 15, 2008 - 12:35 PM ET #23

    I wish there was an edit feature but instead I have to double post :(

    Quote Originally Posted by Stake24:

    Hey Tome another good night. Couple things do you think maybe you should adjust the numbers for home vs away for example home teams are winning at 54.77% this year.


    Yes I have thought about tweaking it by using Away mean Rank vs Home mean Rank. I'll try to work with it in the near future.
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    I wish there was an edit feature but instead I have to double post :(

    Quote Originally Posted by Stake24:

    Hey Tome another good night. Couple things do you think maybe you should adjust the numbers for home vs away for example home teams are winning at 54.77% this year.


    Yes I have thought about tweaking it by using Away mean Rank vs Home mean Rank. I'll try to work with it in the near future.
     
    kevk87
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    Posted: Nov. 15, 2008 - 4:15 PM ET #24

    Quote Originally Posted by Tomspeople:


    I haven't looked at the stats yet, but those seem like they would be correct. I'll make sure to have the games up before the games start tonight :P I got really busy yesterday, family issues and some traveling lol
    And no I wouldn't use the kelly criterion or any type of money management that changes the units bet per game. It's strictly BAD money management. I see people that are like "Oh this has a better chance of winning, I'll bet 5 units on this game and 1 units on the other 3." They can get a 3-1 night and lose. I'll make a thread sometime this weekend proving how it won't help at all.


    Well if you know you have a winning edge, you would actually maximize on your expected value using kelly. So if you have a mathematical formula or a system which is better than a coin flip, then using kelly will help you in the long run. If you flat bet, you are actually neutralizing  your edge.
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    Quote Originally Posted by Tomspeople:


    I haven't looked at the stats yet, but those seem like they would be correct. I'll make sure to have the games up before the games start tonight :P I got really busy yesterday, family issues and some traveling lol
    And no I wouldn't use the kelly criterion or any type of money management that changes the units bet per game. It's strictly BAD money management. I see people that are like "Oh this has a better chance of winning, I'll bet 5 units on this game and 1 units on the other 3." They can get a 3-1 night and lose. I'll make a thread sometime this weekend proving how it won't help at all.


    Well if you know you have a winning edge, you would actually maximize on your expected value using kelly. So if you have a mathematical formula or a system which is better than a coin flip, then using kelly will help you in the long run. If you flat bet, you are actually neutralizing  your edge.
     
     
    kevk87
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    Posted: Nov. 15, 2008 - 4:18 PM ET #25

    if you can consistently beat the closing line you would have an edge to  your system.  That is the reason casino's are afraid of steam chasers.
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    if you can consistently beat the closing line you would have an edge to  your system.  That is the reason casino's are afraid of steam chasers.
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