Players’ Lounge Bet On Yourself
The gist of it is, to get the “true” implied probability from a line, one must divide the implied probability of the line by the total implied probabilities of all options in the market. In this way, even non-bettors can gain valuable information about event probabilities by tracking the betting market. Many fans would likely find it interesting to know their team had, say, a 20% chance to pull an upset over a favored team. (more…)
