Predicting the outcome of soccer matches in order to make money with betting
For several decades soccer is reckoned among the most beloved sports on the globe. This manifests itself by continuous attention from millions of people from all over the world. The money volume involved in soccer is exceptional and expands consistently. Simultaneously, bookmakers’ profit acquired from soccer betting has increased over the recent past. The urge on the construction of statistical betting strategies that systematically generate profit can potentially be accomplished since nowadays more soccer-related data is publicly accessible. This paper presents various betting strategies that exploit the predicted likelihood of the outcome possibilities assigned by match outcome prediction models. In this paper is shown that the extension of an existing betting strategy generates an average out-of-sample profit share of 0.26 per bet euro.
|Alfons, A. (Andreas)|
|Organisation||Erasmus School of Economics|
Zaan, T. van der. (Tim). (2017, March 22). Predicting the outcome of soccer matches in order to make money with betting. Econometrie. Retrieved from http://hdl.handle.net/2105/37404