Software to Generate Combinations of Team Names, Parlays for Sports Betting

Authored on February 04, 2001.

• I presented previously a sports betting system. Also, I presented a connection between random lottery combinations and the results of soccer pools, especially the Italian calcio. I received emails like this one:

• “I want the sport betting software to work as follows. First it would ask me how many games to put in say 5 then it would ask how many columns of selections, thirdly do you want to run the program again. Example say team A is playing team B I want the computer to pick randomly one of the two A or B. Maybe the program can use numbers corresponding to the teams; it is just basically a random number program using sports teams instead of the lottery. “

The sports betting program is Teams. The player selects any number of games, then the number of outcomes. Normally, there are either 2 or 3 outcomes to a game: 1 for home team victory; 2 for visitor's victory; 0 for a tie. This is the case of soccer games. In other cases, such as the American football, there are only 2 outcomes. The favorite team is required to win by more than the point spread. The outcome can be symbolized by 1. If the underdog loses by less than the point spread, Teams uses 0 as the outcome.

The software also calculates the winning chance for each case. For example, the chance to win an 8-game ticket in the American football is 1 in 256. But the bookie would pay only 100 to 1 for the winning parlay. The house advantage is a monstrous 61%! I heard of cases of 97% house advantage for larger parlays!!!

Read also a detailed analysis of the performance of SPORTS.XLS and how to take advantage of the sports betting spreadsheet:
• Analysis of the results of SPORTS.XLS, the sports betting spreadsheet.

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