Tools for working with betting prices as probabilities, in pure Scilab.
- bb_odds_to_prob, bb_frac_to_prob: decimal, American and fractional odds to
implied probability
- bb_overround: overround and margin of one market
- bb_remove_margin: fair probabilities by the proportional, additive or power
method
- bb_margin_index, bb_weighted_margin: read the open daily Bet Better Margin
Index (CC BY 4.0) and average it by market type, weighted by market count
- bb_feed: read the free JSON feed of model win probabilities for a league
Example:
odds = [2.10 3.40 3.50];
[o, m] = bb_overround(odds) // 5.60 % overround, 5.31 % margin
bb_remove_margin(odds, "power")
Includes help pages, two demos and unit tests (test_run). The two data functions
need an internet connection.
Data and method notes: https://betbetter.world/studies/margin-index
API documentation: https://betbetter.world/api/
Statistics tools, not betting advice. 18+.
