Value of a strikeout in regard to prop betting

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  • Poogs
    SBR High Roller
    • 04-05-10
    • 116

    #1
    Value of a strikeout in regard to prop betting
    Im having a little trouble with this. What would be the value of a strikeout, in terms of cents in betting line? For instance, say you see the line of strikeouts in a game, o5.5 -182 u5.5 +154. What would total strikeouts for the same pitcher be worth at ou7? I guess my question is what is the cost of a strikeout?
  • sharpcat
    Restricted User
    • 12-19-09
    • 4516

    #2
    I doubt anyone would have the data to even begin to estimate the dollar value of a strikeout. Even if somebody had an extensive database with closing strikeout total prices it would not give you any indication of the true value because you are talking about a prop market with $500 max wagers which is not a very efficient market.
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    • Poogs
      SBR High Roller
      • 04-05-10
      • 116

      #3
      Ok then Ive been trying a different approach using poisson. Cliff Lee averages about 6.4 ks a game. Just using that and putting it into poisson I get u7 should be about -118. However, how do you factor the rays into the equation. From my ROUGH numbers (trying to figure it out before game time today which didnt happen) I have concluded that the average team struck out about 7.25 times per game this year, and the rays were a little above average, striking out roughly 7.9 times per game. I just can quite figure out how to factor this into the equation.
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      • MadTiger
        SBR MVP
        • 04-19-09
        • 2724

        #4
        One thought is that you would need to get more data to be able to quantify just exactly how much worse a team is at 7.9 than the average. Is that a full standard deviation away, for example?
        Comment
        • sharpcat
          Restricted User
          • 12-19-09
          • 4516

          #5
          Originally posted by Poogs
          Ok then Ive been trying a different approach using poisson. Cliff Lee averages about 6.4 ks a game. Just using that and putting it into poisson I get u7 should be about -118. However, how do you factor the rays into the equation. From my ROUGH numbers (trying to figure it out before game time today which didnt happen) I have concluded that the average team struck out about 7.25 times per game this year, and the rays were a little above average, striking out roughly 7.9 times per game. I just can quite figure out how to factor this into the equation.
          You could divide TB batting SO's by the league average and than multiply that with Lee's SO average.

          I am not too sure that using poisson would be the best fit for this scenario though considering that SO's occur somewhere in the 20% range per trial.
          Comment
          • Poogs
            SBR High Roller
            • 04-05-10
            • 116

            #6
            Thanks man, I used that formula for liranos k's + bb's yesterday and got roughly 8.5. One of my sites had o7.5 -125 and I bombed it (can get down a grand on props) so thanks
            Comment
            • brettd
              SBR High Roller
              • 01-25-10
              • 229

              #7
              o7.5 @ -125 with your result of 8.5. I don't know about you guys, but it sounds like a marginal +EV prop for me at that price.

              What did you quantify the prop's probability at?
              Comment
              • Poogs
                SBR High Roller
                • 04-05-10
                • 116

                #8
                I'm not sure, I'm pretty new to pricing my own props and was trying to get it done before gametime so I'm not even sure if I did it right.

                If someone who knows their stuff could help me out/check my work I'd give all my points for it, pm me if anyone wants to.
                Comment
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