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Sports Betting Stats

In order to advance from a recreational better to a professional better, you need to learn how to do a proper game analysis. An important part of that analysis is represented by the sport betting stats. There are countless sports betting stats that you can use in your research. Some are pretty straightforward while others are so complicated that they look like the Matrix.

Sports Betting Stats Sports Betting Stats Picture
  • The purpose of sports betting stats

The main purpose of the sport statistics is to help us predict the result of a game. The statistics usually summarize or they forecast the betting odds. And since we’ve mentioned odds, you should know that the bookie’s odds are also set according to various statistics. Basically, as a professional better, your research should be similar or even better than that of a bookie. The odds presented by the bookie are his best attempt at predicting the results of a game but that doesn’t mean that they are 100% accurate.

  • Sport statistic basics

In order to use statistics you need to be able to read the data which is relevant to predicting the results of a game and draw conclusions regarding the central tendency of the data (where is is centered), the dispersion of the data and its distribution which can be lopsided or symmetrical. Last but not least, when we are examining the statistics, we also want to determine the likelihood of dealing with extreme outcomes (kurtosis)

  • Types of sports betting stats

There are two main categories of statistics: descriptive and inferential. Descriptive stats are aimed at summarizing a set of information. A lot of the times when you will be doing your sports analyses, you will be confronted with a large set of information. When this happens, it is important to be able to find the relevant information in order to describe it. Inferential sports statistics are aimed at drawing as much information as possible from the statistics based on a smaller sample group. It works in the same way as with most sample groups. You use a smaller number of individuals in order to forecast patters for a larger group.

  • Examples of descriptive and inferential sports betting stats

Descriptive stats are quite easy to understand. For example, if you are making an analysis for an upcoming soccer game, you will use the available statistic in order to find the average number of a team’s home wins or a similar information. Inferential statistics are a little more complicated but we hope to simplify them for you in the following example. Lets say that you want to place some soccer championship games and you want to determine the odds that the top 2 teams have against any of the teams placed between number 3 and 17. In order to get an accurate result, you will need to research years of soccer history and by the time you will be through with the large amount of data, the championship will be long over. However, if you only consider the last 3 years, than you will be using a sample of a larger set of data. In probability terms, what you are doing is determining the odds on future games by using empiric probability and stats derived from the past

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