Established in 2008, this blog is an independent, common sense, look at challenges and opportunities in sports and financial investing, with occasional diversions as my mood takes me. I am not a tipster, nor is this a Profit and Loss report either. They are boring.
Sunday, 25 May 2014
English Premier League - 2013-14
As with the other four leagues already reviewed, draws in the EPL were down on their long term averages, and the decline was steepest in England. With a strike rate of just 20.5%, draws were 22% down on the 10 year average and 23% down on their 5 year average. 20.5% was the lowest anywhere, and it is not a surprise that backing the draw in every match would have cost you 74.39 points. Somehow, the XX Draws managed to be profitable.
As in Spain and Germany, the Favourite-Longshot bias is present, and if we look at the 380 matches in five groups of around 76 each, the draw returns break down as follows:
The top two - favourite - quintiles made a small loss, and the benchmark of backing sub 4.0 is down 34.88 points, much worse than the XX Draws which eked out a profit in this league of 3.54 points. The Unders fared well in this league too. Backing the Under 2.5 goals in every match would have lost you 12.92 points, while the XX Draws backed as Unders made a profit of 5.41 points.
I have had a life-long interest in sports and after studying Pure Mathematics with Statistics at secondary school, have been fascinated by odds and probability.
The first system I came up with was a simple one - back the favourite and double up after a loss until a winner. Simple enough in theory, and I told my Dad about it. Not being a betting man himself, he ran it by some of his colleagues, and came home to tell me that it wouldn’t work because a long losing run would mean that the bank would be empty. Then there was always the possibility that the winner would be returned at odds-on, meaning that the total returns would not match the outlay. Not what a ten year old wants to hear! Only slightly daunted, I then went on a search for the Holy Grail, the secret to riches that I knew was out there somewhere. Finally in 2004 I stumbled across an article about Betting Exchanges and four years later I was able to make a steady profit.
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