Sports Betting Q&A
Frequently asked questions about sports betting
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What is a sports betting model?

A sports betting model is a system that can identify unbiased picks to determine the probability for all outcomes in a certain game.

At a functional level, the goal of a model is to highlight profitable betting opportunities by being more accurate than a bookmaker.

Needless to say, building a successful sports betting model is not easy. If it was easy, everyone would have their own model that could beat sportsbooks and sports betting wouldn't exist because sportsbooks would not make money. 

Bookmakers usually have their own model in order to create betting lines, so the goal for a personal betting model would be to create a better, more efficient one.

There are a number of factors that go into building a sports betting model.

How to build a betting model

  1. What is the goal of the model? Why are you building a sports betting model? What sport? What advantage are you looking for?
  2. Pick a metric - What numbers are you using in order to reach your goal?
  3. Collect and modify data - Collect the needed numbers for your model.
  4. Choose a type of model - This usually depends on the kind of stats you use. Models can be as easy or as complex as you need them to be. 
  5. Build the model - You have everything you need, now build it.
  6. Test the model - Do the results make sense? Test them to find out.
  7. Monitor results - Check the results on upcoming matchups and see how they turn out over a period of time.
  8. Win money - Success!

Clearly, one does not set out to create a sports betting model without an initial goal or basic knowledge of mathematical concepts. There's a reason betting models are only common for sportsbooks or full-time bettors. They take time to create and then you have to tweak them if something is off. It's an ongoing process that changes by the season.

However, if you find a fault in the betting odds and have the capabilities, a betting model is a good way to turn a net positive. 

Read More Sports Betting Q&As

More Questions To Read
Can you bet on sports with Venmo?
No, not legally. Most legal sportsbooks around the country won't allow you to make bets with Venmo.
Which states in US have legal sports betting?
As of 2020, there are 21 states (and Washington D.C.) that have legalized sports betting.
Can you bet on sports online?
Yes. But while betting on sports is legal in almost half the states in the country, not all of them allow online wagering.
When was sports betting legalized?
Sports betting was allowed to be legalized at a state level in 2018 after PASPA was struck down.
When will sports betting be legal in Indiana?
Sports betting in Indiana was legalized September 2019 and online gambling launched a few months later.
Is sports betting legal in Indiana?
Yes. Indiana passed a bill to allow sports betting in 2019 and wagering started in October with online betting opening a couple months later.
When will sports betting be legal in Michigan?
Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020.
Is sports betting legal in Michigan?
Yes. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened in March 2020.
Is sports betting legal in Virginia?
Yes. Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021.
When will sports betting be legal in Virginia?
Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021.
When will sports betting be legal in South Dakota?
Sports betting is not legal in South Dakota, but residents passed a ballot initiative in the November 2020 election, which means it's on its way.
Is sports betting legal in South Dakota?
No. Sports betting is not legal in South Dakota, but residents passed a bill initiative in the 2020 election.
Is sports betting legal in North Carolina?
Yes. Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early 2021.
When will sports betting be legal in North Carolina?
Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early 2021.
When will sports betting be legal in Tennessee?
Yes. Tennessee sports betting was legalized in 2019 and launched in 2020.
Is sports betting legal in Tennessee?
Yes. Tennessee sports betting was legalized in 2019 and launched in 2020.
Is sports betting legal in Maryland?
No. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
When will sports betting be legal in Maryland?
No. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
Is sports betting legal in Louisiana?
No. Sports betting is illegal in Louisiana despite numerous attempts throughout the last couple years.
When will sports betting be legal in Louisiana?
Sports betting is illegal in Louisiana despite numerous attempts to legalize it the last couple years.
When will sports betting be legal in Iowa?
Iowa legalized sports betting in May 2019, becoming the 11th state to do so.
Is sports betting legal in Iowa?
Yes. Iowa legalized sports betting in 2019, becoming the 11th state to pass a bill.
When will sports betting be legal in Illinois?
Illinois passed sports betting legislature June 2019 and launched at physical sportsbooks March 2020, becoming the 15th state to offer wagering.
Is sports betting legal in Illinois?
Yes. Illinois passed sports betting legislature in 2019 and launched at physical sportsbooks in March 2020.
When will sports betting be legal in Colorado?
Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters.