SBC News Voice of the Sports Betting Industry
Delivering the Sports Betting Masterclass on day one of the SBC Digital Summit, Jonathan Smith – founder of Sports Book Training Services – showcased his methods of simulation of the Premier League season in an online tutorial.
In the tutorial, which was taken from his online course for soccer odds compilers, Smith demonstrated how to build a simple league winner simulation in Excel.
Speaking at the SBC Digital Summit, Smith said: “I am pleased that this is part of the SBC Digital Summit because it’s a great platform for us to get together and share our ideas on sports and betting whilst we can’t do so face to face.”
Viewers followed on-screen instruction to create a programme that can be updated as a season progresses, and can also be adapted to include multiple long-term markets.Talking before he began his tutorial, Smith stated: “If you’re an avid follower of football you will have your own views about a merit of a team and its chances of doing well in the league that it’s in.
“Whilst turning that view into a probability is less easy than just expressing it, how do we make sensible prices out of a competition that lasts nine months and in the case of the Premier League, 380 games?
“As much as I am a fan of, what I would like to call, field pricing and using your instincts I would have a pretty hard time in pinning down a price and explaining it to my boss in such a complex scenario. Simulation of these complex events is normally the best answer.”
Smith stated in his tutorial that the videos were “designed to show the process” that it works and that the course was about “thinking for yourself and coming up with your own interpretations.”
Smith concluded: “From time to time we may actually be wrong, heaven forbid, and certainly we don’t have to be so dogmatic with our prices in order to see the business we want to see.”
The SBC Digital Summit is a truly groundbreaking online event for the betting and gaming industry, offering up to 10,000 delegates a fully virtual and interactive conference, exhibition and networking experience. It takes place all this week, up to and including Friday May 1.
With global business communities in the grip of the COVID-19 crisis, the Summit was created as a platform for the industry to connect and share knowledge amid critical and unprecedented conditions.
The SBC Digital Summit runs from 27 April to 1 May 2020 and features seven conference tracks, a virtual exhibition and virtual networking lounges, attracting an estimated 10,000 delegates logging in from around the world.
There is still time to register for the event, with company discounts available: https://sbcevents.com/sbc-digital-summit/tickets/
