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bettoR

Tools for Sports Betting

This package contains tools and functions to help sports bettors make more money!

Installation

You can install bettoR from GitHub with:

# install.packages("devtools")
devtools::install_github("papagorgio23/bettoR")

Examples

Implied Probability

Implied probabilities, or break-even win percentage, can easily be found with this function. Here is an example with given odds of -350 (US Odds), 180 (US Odds), 2.5 (Decimal Odds), 4.9 (Decimal Odds), 6-1 (Fractional Odds), 2/7 (Fractional Odds).

implied_prob(-350, type = "us")
## [1] 0.7777778
implied_prob(180, type = "us")
## [1] 0.3571429
implied_prob(2.5, type = "dec")
## [1] 0.4
implied_prob(4.9, type = "dec")
## [1] 0.2040816
implied_prob(6/1, type = "frac")
## [1] 0.1428571
implied_prob(2/7, type = "frac")
## [1] 0.7777778

Odds from Probabilities

Let’s say you believe a bet has a 75% chance to cover, what would the price be? Using the implied odds function can give you the price based on your probability.

implied_odds(0.75, type = "us")
## [1] -300
implied_odds(0.75, type = "frac")
## [1] 1/3
implied_odds(0.75, type = "dec")
## [1] 1.333333
implied_odds(0.75, type = "all")
##    Decimal American Fraction Implied.Probability
## 1 1.333333     -300      1/3                0.75

Converting Odds

Let’s say you want to convert the American Odds you see on the screen (-175) to another type.

##    Decimal American Fraction Implied_Probability
## 1 1.571429     -175      4/7           0.6363636

Calculate Sportsbook’s hold

Betting into a market is difficult enough as is but some sportsbooks skew the odds even more in their favor. (-110, -110) is the industry standard. The hold, or vig/juice, for this bet can be found like this:

hold_calc(-110, -110)
## [1] 0.04545455

Some sportsbooks in newly legalized states are taking advantage of bettors with lines (-125, -125)

hold_calc(-125, -125)
## [1] 0.1

The increase in juice for this is:

(hold_calc(-125, -125) - hold_calc(-110, -110)) / hold_calc(-110, -110)
## [1] 1.2

120% increase in price.

Special Thanks