How do you tell that a system is ready to be used for betting?

[HUY]

What is the metric that you use to tell if a system is ready to be used for betting?

[a4u2fear]

It's specific, profitable over 1000s of games over many years and over every team

[GunShard]

I test systems by betting play points on Covers.com or the SBR points here on SBR.

If you want to see which system works, never risk real money on them until proven.

[allin1]

check if your picks beat the closing line.

[HUY]

Yes, but what is the quantitative point at which a system is considered ready to be bet?

[MonkeyF0cker]

Model RMSE < Market RMSE.

That should be your LAST metric to test a model.

BTCL is a terrible metric for the global testing of models. It is based on assumption.

[MonkeyF0cker]

I guess I didn't notice the word SYSTEM.

My apologies.

Good luck.

[HUY]

I guess I didn't notice the word SYSTEM.

My apologies.

Good luck.

No, I meant what you guys refer to as a "model". Terminology issue, my apologies.

[hutennis]

Your model has to be able to predict future results that will beat market including cost over statistically significant number of tries.
Anything backward looking is a mirage.

[Waterstpub87]

Test it as you go. Why do it otherwise?