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Newhavensoft forum »Newhavensoft.net forums » Odds Wizard » Predictions |
1. Harley - 17 November, 2007 - 12:26:23 |
Hi, I purchased te program a view weeks ago, but it's not clear to me how to produce predictions. I did read the manual several times. Is it possible to give some examples. Regards, Bert |
2. Alex - 17 November, 2007 - 17:57:42 |
Odds Wizard predicts future events in terms of probabilities of win, draw, loss, etc. It does not make senseless verdicts on who will actually win. Situation resembles quantum mechanics: you can't predict anything surely, but you can compute probability of whatever you want. Then, you compare fair odds F generated by Odds Wizard with the line odds L offered by a bookmaker, find pairs L > F (sometimes it's difficult), and finally determine optimal bankroll distribution using Stake Wizard 4 tool. Suppose you have found events with the following fair and line odds: A) F = 1.5 L = 1.7 B) F = 1.3 L = 1.5 C) F = 2.0 L = 2.3 Your bankroll is $100, target fund =$1000, minimum stake = $1, confidence probablity = 95%. Instructions of Stake Wizard 4 in 'Regular mode' will be the following: $67.30 - set aside $14.48 - single bet on B $7.67 - single bet on A $4.25 - single bet on C $3.41 - double parlay bet on AB $1.89 - double parlay bet on BC $1.00 - double parlay bet on AC In the above example, average growth of your bankroll will be 3.99% in each betting round. In general case, higher growth rates can be achieved by: 1. Getting more events into Stake Wizard 4 calculations. 2. Setting less minimum stake amount (Stake Wizard control panel). 3. Setting greater accumulators limit (Options). 4. Setting greater complex bet subcomponents limit (Options). |
3. Harley - 18 November, 2007 - 06:38:51 |
Alex, Thanks for your explaination. |
4. Harley - 18 November, 2007 - 16:53:33 |
Alex, I have still a question, how can i compute probabilities of win, loss, draw,etc. Do i use the tournament analysis. Would you be so kind to give an example Bert |
5. Alex - 20 November, 2007 - 08:58:44 |
Probability is equal to the inverse value of fair odds, i.e. p = 1/F. You can display probabilities instead of fair odds by choosing menu Odds -> Notation -> Probability, %. However Stake Wizard requires default decimal odds notation for the calculations. |
6. Harley - 21 November, 2007 - 04:44:20 |
It's clear now. Tanks Bert |