And the curve turns again…

Key results:
- 0.02% chance of minor premiership (Sharks are 38%, Roosters join 3 teams on 0.00% despite beating us)
- 2% chance of finishing in top 4 (Sharks are 90%, Knights join the Eels on 0.00%)
- 22% chance of finishing in top 8 (Sharks are 99%, Knights are 0.3%)
- 33% chance of finishing in bottom 4 (Sharks are 0.01%, Knights are 93%)
- 2% chance of wooden spoon (Raiders are the 4th team to reach 0.00%, Knights are 41%)
@Icon said:
Hey Juro, are you a gambler of any type, just wondering if your percentages equate to odds?
having just had a good look at your graph, and then reading your statistics, the tigers are approx 31% or one in 3 of making the 8, yet the odds right now have us at 10-1 to make the 8.
what do you reckon, are we way overs at the moment, especially after seeing the team picked this week and Parra sitting in nowhere land, and outside the top 3 teams, the rest are plodders.
No, I'm not a gambler. I believe that unless there is a positive expected return, betting makes no sense. Given all the unknowns that lead to the final result (including the scourge of match fixing), I don't see it as a wise investment.
I would assume that the betting agencies would have far more sophisticated models than mine. I simply assume each team has a 50% chance of winning a game, with a distribution of possible F&A results. I have played around a bit with changing the odds depending on teams' position on the ladder and whether they are at home. However, this just complicated things and didn't lead to materially different results.
My model is designed to demonstrate objectively where we are at any point in the season, relative to other seasons or other teams. It gives likelihoods based on my simple assumptions.
**In short, I accept no responsibility for anyone using my results for other purposes!**