Thursday, February 5, 2009

Bracket Odds - 38 Days Until Selection Sunday

We're just over a month away from Selection Sunday. There have been enough games played that the bulk of most team's resumes have been developed and a good or bad game doesn't change the efficiencies of a team that much.

Using the ESPN bracket(which has been accurate in past years in determining which teams dance) and efficiency data from KenPom(which is a good predictor of future success), Keith has been generating the chances each team wins each matchup, advances to each round, or wins it all.

These projections are good enough for gambling purposes once you factor in 1)a team being under/over rated by Pom, 2)the numbers assume that teams play who is listed in this bracket, so just because a team has a hard(easy) road here doesn't mean they will have one in 6 weeks, 3)semi-homecourt advantage that might happen in the dance(more on this later). It's also worth noting that the win %'s are not taken directly from Kenpom because the numbers on his site are largely flawed.



These are based on data from Monday. Teams have moved in terms of both expected seeding and efficiency due to extreme under/over performances in the last 4 days.

Comments
Favorites: % are based as of Monday. Listed Efficiencies are updated as of Thursday.

1. [1]Duke(23.1%) - 1st in Kenpom Eff.
Before this week's slaughter at Clemson, Duke was such a sizeable favorite to win it all that it didn't matter that Duke's region had numerous teams Kenpom had as underseeded teams(West Virginia as the #8, Illinois as the #5, Louisville as the #2).

Despite the loss and the big drop in efficiency that come with it, Kenpom still has Duke as the most efficient team in the nation. Likewise, the odds for them to win it all are expected to drop from Kansas 2008-like levels(also >20%), but I wouldn't be surprised if Duke was still the favorite when next week's projected bracket is revealed.

2. [1]North Carolina(15.2%) - 3rd in Kenpom Eff.
Kenpom has operated under numbers that indicate North Carolina is among the favorites to win it all, but not way ahead-of-the-pack type numbers that many preseason predictions currently had. To think that they are still overwhelming favorites to cut down the nets in late March as many current betting markets still have is delusional.

3. [1]UConn(10.2%) - 2nd in Kenpom Eff.
This bracket actually had UConn as the #1 overall seed. Thus, the double digit win at Louisville doesn't provide them any better potential seeding in the next bracket, though it does solidify their holding in case they lose a game or two against Pittsburgh, Syracuse, or Marquette the rest of the way. It also improved their efficiencies to the point where it's on par with Duke and North Carolina now.

4. [2]Pittsburgh(8.7%) - 4th in Kenpom Eff.

5. [2]Louisville(5.8%) - 8th in Kenpom Eff.
Louisville is an interesting case as it's the only team in Kenpom's top 15 to be so weak on one side of the floor(Offense), but making up for it as the #1 team on the other side(Defense).

Of the 15 most efficient teams in the nation it is the only team to not have both of it's components not be ranked in the top 50 as the team's adjusted offense clocks in at 94th. The Cardinals have problems getting to the line(.329 FTA per FGA, 253rd) and making free throws(65.9%, 248th) once they get there and are only mediocre in the other Four Factors.

As expected, their defensive is excellent, but not in the way you would expect if you are familiar with their inclination to successfully full-court trap. While they are good at forcing turnovers (they force turnover's on 23.3% of opponent's possessions, 45th), they are superb at getting opponent's to miss shots (43.1% DeFG, 10th) and grabbing those misses (71.3% DReb%, 26th).

It will be interesting to see whether or not this relatively 1-sided team can continue their success through the post-season. Conventional wisdom says that a team that relies on one side of the ball will fail once it runs into a team that is competent on both sides, but the Cardinals have notched wins against such teams already in Big East play:

1/10 61-60 Win @Villanova (34th Off Eff./15th Def Eff.)
1/17 69-63 Win v.Pittsburgh (2nd Off Eff./27th Def Eff.)
1/31 69-63 Win v.West Virginia (36th Off Eff./6th Def Eff.)

6. [3]Memphis(4.4%) - 7th in Kenpom Eff.
7. [5]Gonzaga(3.9%) - 5th in Kenpom Eff.
Memphis and Gonzaga are both teams that are agreed to be good by the public/top 25 polls/betting markets, but Kenpom has them even better as top 7 teams. Thus, despite mediocre seeding that is probably only to improve for 1 of them(the H2H game this Saturday is the only remaining game against significant opposition), they are among the favorites to win it all.

Both programs are quite storied, so how is it that they are still under the radar compared to the polls? I have a couple answers:
Both teams dropped early games in the NC schedule when they were in the public spotlight. Memphis lost all of it's major NC games, @Georgetown(21st) in OT, N-Xavier(20th), and v.Syracuse(28th), though has since reeled of 13 straight wins in dominating fashion(look at MoV) and won @Tennessee(40th).
Gonzaga lost 4 of 5 games including a major slipup at home against Portland St.(100th) despite 2 wins against Tennessee(neutral and Away), @Washington St.(54th) and N-Oklahoma St.(48th).

8. [2]Wake Forest(3.6%) - 19th in Kenpom Eff.
Demon Deacon odds will drop significantly next week after a 30+ pt underperfomance @Miami. At least Duke could rely on a stronger opponent and a larger efficiency gap it had created in previous games.

It's worth noting that only 2 of the 3 Chapel Hill teams(Duke, UNC, Wake Forest) can be placed at at NC Greensboro for the first 2 rounds, so these teams aren't only competing for seeding, but also for 2-3 extra pts of Homecourt Advantage for 2 games. Wake Forest's H2H wins against both teams was a pivotal tiebreaker in case resumes were similar at season's end, but consecutive losses to Georgia Tech and Miami FL are starting to put them a step behind those two.

9. [1]Oklahoma(2.8%) - 12th in Kenpom Eff.
It's true that Oklahoma's low odds areas a result of Kenpom not having them as among the most efficient teams in the nation, but it's also because their half of the region is stacked with efficient teams in this bracket. Arizona St. as the #8, Gonzaga as #5, Georgetown as #12.

The ESPN talking heads have been mentioning how Oklahoma has a good chance to realize a #1 seed because they don't face the gauntlet that is the ACC or Big East, but the Sooners are through the easy part of their schedule, and face tough tests in half of their 8 remaining games. (Predicted spreads come from a model using Kenpom data)

2/11 Oklahoma -1.9 @Baylor
2/21 Oklahoma +0.3 @Texas
2/23 Oklahoma +5.2 @Missouri
3/4 Oklahoma -4.3 v.Kansas

If they drop 2 of these games, which is far from unthinkable, do we really expect them to hold onto the top line?

10. [5]UCLA(2.6%) - 6th in Kenpom Eff.
UCLA is finally performing at efficiencies mirroring the team's preseason expectations as a top 10 team. The problem for UCLA is that it's unlikely to improve it's seeding by much the rest of the way. This seems strange as they have a stranglehold on a BCS conference and have higher odds on winning the conference tournament as its hosted in Los Angeles. However, the rest of the conference schedule is riddled with possible losses:

2/12 UCLA +1.1 @Arizona St.
2/14 UCLA -4.1 @Arizona
2/19 UCLA +6.2 v. Washington
2/28 UCLA -3.2 @California

The losses against Texas(25th) and Michigan(83rd) are looking progressively worse as both teams continue to plummet, hurting the Bruins' RPI in the process. Also, the non-conference game against Notre Dame this Saturday doesn't even look like a legitimate opportunity to shore up it's non-conference resume now that the Irish(54th) have fallen in Big East play. Outside of that, UCLA's best NC win is a 64-59 win at home against Miami OH(67th)

I will try to do updates on Fridays(lots of games being played on Wednesday and Thursday) and Tuesday(weekend games + new projections released). I will probably comment on underrated/seeded teams that are likely to cause upsets next week. Stay posted.

Sunday, February 1, 2009

How To Make Money in Super Bowl 43

In the Super Bowl, it is oftentimes profitable to bet the favorite MoneyLine(to win) as a result of an market inefficiency caused by a particularity in human psychology.

People don’t like to risk a lot of money to win a little money. The flip side is also true. People like to risk a little money to win a lot of money.

I’ve read quite a few studies/theses on this in fields outside of gambling, but a typical donk’s obsession with betting parlays and longshot futures should convince you of this. This usually manifests itself in the portion of the public that wants to bet the underdog(and there’s a lot of them) placing wagers on the ML and moving it artificially lower to a point where the favorite ML can be +EV.

How is it possible that this happens with the Super Bowl – the most efficient and transparent market in the sporting world – you ask? How can something be this well-known and open to millions of bettors be available? I have a few theories, though this is the strongest:

The inefficiency is localized: This phenomenon mainly exists on sports books that have a larger proportion of square/public/recreational clientele. This seems evident if we compare Vegas MLs with Online MLs with the assumption that online markets are sharper than Vegas ones just as online poker is.

Online:
http://www.sbrlines.com/LinesWebsite/Lines.aspx?l=2#/odds/nfl/whole_game/moneyline.html

Vegas:
http://www.vegasinsider.com/nfl/odds/las-vegas/money/

After gazing at these lines, one may wonder, what would be a fair ML? During the regular season a -6.5 -106/+6.5 -102 spread with ~47 total(current Pinny lines) would equate to a +/- 255 ML. It is possible that the game being played on a neutral field decreases the distribution of scores in the Pittsburgh -0.5 to Pittsburgh -6.5 range somewhat, but it is unlikely that it could be large enough to move it to more than a handful of cents.

LOL @ knowing having to know anything about sports – Steelers -200/-210/-220 - BIG.

(Also find yourself some a morsel of Cardinals +7 -115/Cardinals +230 for the middle/arbitrage)

Sunday, January 25, 2009

A New Direction - College Basketball Analysis

The "I GET NO RESPECT", LOL SCHOOL and brag posts are getting kind of boring, so I'm going to do something constructive here. Namely give you enough information about college basketball to embarrass your all-talk, but don't know shit friends.

Here's what you can expect to come in the coming months:

- We're halfway through the college basketball regular season, so I will start commenting on the projected field for the Big Dance. To be fair, the major bracketologists out there are competent at evaluating resumes. That is to say, if you give Joe Lunardi the result of every game for the regular season, he can predict the 35 at large teams(and their seeding) very accurately. However, where he fails is his inability to predict the future - specifically, games remaining in the season(that will have a monstrous affect on who gets in/seeding) and odds of winning games once they get in. This is where sports betting markets come in.

Some tentative ideas I want to discuss are - How this year's cross section of teams will lead to easy/hard roads to the F4/Championship, potential upsets/mis-seedins/teams left out, partial home court advantages[some obvious(MSU as a top 4 seed), some not(Missouri as possibly an 11 seed!)].

- When Selection Sunday comes out, I will explain how to use the betting markets and basic game theory to get as much equity as you can in your March Madness Pool. In other words, How To Win Your Bracket Pool.

- For those that like money - Keith and I will be releasing plays together for March Madness. We may start as early as conference tournament time. These plays are generated via a Excel-based model using pace/efficiency data from KenPom, and then adjusted for injuries, matchups, *shudders* trends and intangibles.

If you want to be more literate you should read some of the links to the right regularly.

As an introduction to Basketball Sabermetrics you should start with Dean Oliver's Four Factors to understand what really wins basketball games and an introduction to advanced stats.

If you want to get a grip on the data I use, read Kenpom. If you're trying to determine which team has been playing better so far this year, check Kenpom. If you're trying to determine who's the more efficient player, James Harden or Stephen Curry, you should check Kenpom.

If you just like reading fuzzy stuff cause you've been weaned on ESPN garbage your whole life, you can just check Basketball Prospectus regularly - at least their content is mathematically grounded.

Thursday, January 22, 2009

Belated NFL Futrues Grading

WINNARZ
2.5u Dallas Cowboys to MISS the playoffs +180
1.3u Dallas Cowboys under 10.5 Wins +125
2.2u Balitmore Ravens over 6 Wins -115
2u Detroit Lions under 6.5 Wins +125
1.8u St. Louis Rams under 6.5 Wins +115
1.3u Tampa Bay Bucs over 8 Wins -115
1.3u Oakland Raiders under 6 Wins -115
1.3u Houston Texans over 7.5 Wins -105
1.3u Cleveland Browns under 8 Wins +100
1.1u Minnesota vikings over 8.5 Wins -135
1u Carolina Panthers over 8 Wins -115

FAIL
2.5u Green Bay Packers over 8.5 Wins +125
2.5u Seattle Seahawks to win NFC West -110
1.3u Pittsburgh Steelers under 9 Wins +110
1.3u Atlanta Falcons under4.5 Wins +120
1.3u San Francisco 49ers under 6 Wins +145
1u Baltimore Ravens to win AFC North +850
0.8u Philadelphia Eagles to win NFC East +450
.5u Baltimore Ravens to win AFC North +1350

SISTER KISSER
2.2u Philadelphia Eagles over 9 Wins -115

10-4-1 on season o/u, 1-3 on futures
+10.03u on 32.71u wagered. 30.7% ROI.

Friday, December 12, 2008

Sliding Doors

Yesterday, I could've been cramming for finals and last-minute packing, prepared to get kicked out of housing by Stanford. Instead, I was at not so silent night where we watched jack's mannequin, the bloc party, franz ferdinand, death cab, and the killers.

A few thoughts:
Jack's mannequin's lead singer plays the piano, not the guitar. However, he still makes sure to pelvic thrust while playing. awesome.

Little girls should not be moshing.

Jenny was a friend of mine/spaceman/while you were young played live is better than sex.

Tuesday, December 9, 2008

I <3 College Basketball

Today: 3-0, +9.5u. (I haven't bet more than 2u on any single play until today)

Thank you San Francisco(5u)/Idaho St.(3.5u) Basketball. Ship 3 months rent!

Special commendation to Marist for their horrendous performance in the second half.

Friday, December 5, 2008

I HAS LOCKS!

Always nice to get a few of these out of the way with 1/4 of the season left to play...