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
- What is the goal of the model? Why are you building a sports betting model? What sport? What advantage are you looking for?
- Pick a metric - What numbers are you using in order to reach your goal?
- Collect and modify data - Collect the needed numbers for your model.
- 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.
- Build the model - You have everything you need, now build it.
- Test the model - Do the results make sense? Test them to find out.
- Monitor results - Check the results on upcoming matchups and see how they turn out over a period of time.
- 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
How to do parlays on DraftKings
To do parlays on DraftKings, you need to create a DraftKings Sportsbook account and put the bets you want in your DraftKings parlay into the bet slip.
How to bet on DraftKings
To bet on DraftKings, create a sports betting account, download the DraftKings Sportsbook mobile app, and find the betting outcome you want to bet on.
Where is DraftKings legal?
DraftKings is legal for sports betting via the DraftKings Sportsbook mobile app, website or retail location in close to 20 U.S. states and 44 for DFS.
How to bet on FanDuel
You can bet on FanDuel in many ways. Once you have an account, you are able to bet on props, futures, moneylines, spreads, totals, and much more.
Where is FanDuel Sportsbook legal?
FanDuel Sportsbook is legal in 16 states. These states are AZ, CO, CT, IA, IL, IN, KS, LA, MI, NJ, NY, PA, TN, VA, WV, and WY with more coming soon.
How to do parlays on FanDuel
To bet parlays on FanDuel, you must choose multiple bets within a game OR choose multiple betting markets from other games to create a parlay ticket.
How to bet moneyline on FanDuel
To bet moneylines on FanDuel, choose a game to wager on, and then select the moneyline market. Then, place your bet with your desired wager amount.
Does FanDuel pay real money?
Yes, FanDuel pays out real money. Whether you use the DFS portion of the website, sportsbook, or online casino, you will be paid out in real money.
How do I get BetMGM promo codes?
You can get the BetMGM bonus code by copying the code we have provided " ROTOBONUS " choosing your state, signing up for an account, making a...
Is BetMGM Sportsbook legal?
Yes. use code ROTOBONUS to sign up in eligible states. BetMGM Sportsbook is legal in AZ, CO, IL, IN, IA, KS, LA, MI, NV, NJ, NY, PA, TN, VA, WV, & WY.