![]() Data from almost 15.000 soccer matches (seasons 2007/2008 until 2016/2017) are used, including both domestic matches (English Premier League, German Bundesliga, Spanish Primera Division and Italian Serie A) and international matches (UEFA Champions League, UEFA Europe League). A soccer forecasting model based on the well-known ELO rating system and taking advantage of betting odds as a source of information is presented. The present study investigates the approach of combining the methods of mathematical models and the information included in betting odds. ![]() ![]() Betting odds are frequently found to outperform mathematical models in sports related forecasting tasks, however the factors contributing to betting odds are not fully traceable and in contrast to rating-based forecasts no straightforward measure of team-specific quality is deducible from the betting odds.
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