How to Build a Sports Betting Model in Excel
1
Choose Your Goal.
2
Select Metrics/Data Points.
3
Collect Said Data Points.
4
Choose Type of Model.
5
Build Your Model.
6
Test Your Model.
7
Start Cashing!
For fractional odds, the equation is denominator/(denominator + numerator) x 100. A horse that is 7/2 would be calculated as 2/(7 + 2) x 100. That equals 22.22, meaning a team or horse that's 7/2 has an implied win probability of 22.22 percent. Finally, we've got decimal odds, which have the simplest equation.
