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.
What is probability?
FREE PREVIEWThe Law of Large Numbers and Expected Value Part 1
FREE PREVIEWThe 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
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
Counting - Permutations
Counting - Combinations
Probability grids exercise
Custom Functions in VBA (Factorials, Combinations, Permutations)
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
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