The Principles of Sports Odds Compiling (Revised 2025)
Everything you need to become a successful odds compiler or trader in the sports betting industry. Principles, practice, exercises, calculation, simulation and coding for real world application
2
What is probability?
FREE PREVIEW
The Law of Large Numbers and Expected Value Part 1
FREE PREVIEW
The Law of Large Numbers and Expected Value Part 2
Coding Exercise 1 - Coin Toss
Odds formats and probabilities
Bookmaking and overround in principle
Overround in practice
Practical Overround solution
Coding exercise 2 - Overround solution part 1
Coding exercise 2 - overround solution part 2
Pricing exercise
Underround books and arbitrage
Cashout
Cashout exercise
Pricing Exercise 2
3
Two important axioms of probability
Propositions of probability - the complement rule
Principles and Axioms Exercise 1
Propositions of probability - the addition rule
Principles and Axioms Exercise 2
Propositions of probability - the multiplication rule
Building a calculated pre-match tool with momentum
Conditional probability
A comment about conditional probability
Conditional Probability pricing exercise
4
Counting - Permutations
Counting - Combinations
Probability grids exercise
Custom Functions in VBA (Factorials, Combinations, Permutations)
5
What is a Probability Distribution?
The Binomial Distribution Part 1
The Binomial Distribution Part 2
The Binomial Distribution Part 3
Custom Functions in VBA - Binomial Distribution
The Negative Binomial Distribution
The Multinomial distribution
Real world application of combinations with different probabilities
The Poisson distribution Part 1
The Poisson Distribution Part 2 and Exercise
Building a Poisson Grid in VBA
The Normal Distribution Part 1 - Derivation
The Normal Distribution Part 2 - Standard Deviation
The Normal Distribution Part 3 - Exercise
The Exponential Distribution Part 1 - Derivation
The Exponential Distribution Part 2 - Exercise
The Exponential Distribution Part 3 - an alternative
6
Why ratings systems are so useful
The Bradley Terry Model - principle
Bradley Terry Model - practical use coded version
ELO Ratings - principle
ELO model - practical use coded version
An introduction to rating football teams
7
Simulation or calculation?
Team to win and player to score - calculation exercise
Simulation Part 1
Simulation Part 2
Simulation Part 3
Team to win and player to score - simulation exercise 1
Team to win and player to score - simulation exercise 2
8
Building a coded algorithmic model part 1
Building a coded algorithmic model part 2
Building a coded algorithmic model part 3
Building a coded algorithmic model part 4
9
Excel Commands Functions and Formulas Part 1
Excel Commands Functions and Formulas Part 2
Excel Commands Functions and Formulas Part 3
Excel Commands Functions and Formulas Part 4
Excel Commands Functions and Formulas Part 5