EA Simulation Correctly Picked Super Bowl Champs in September
Just_Say_Duhhh writes "Before the NFL Season started, the guys at EA Sports simulated the entire season using Madden 2011. The sim told them the Packers would win the Super Bowl. If only we had listened. What's even more interesting is that according to the article, they've picked the winner 6 of the last 7 years. Make that 7 out of 8!"
Because according to *this* article, it picked the Steelers... http://blog.games.yahoo.com/blog/355-steelers-will-win-super-bowl-xlv-predicts-madden-11/ wtf?
1. run enough independent simulations to predict each team as winning in one of them.
2. only report the right one
3. profit!
protip: replace "team" with "drug," and "winning" with "effective," for supermegaprofit!
"They were pure niggers." – Noam Chomsky
So, do bookmakers use this for their odds calculations?
Where I grew up, their was an Italian delicatessen. They made great hoagies! It was also run by a couple of famlies, and they all drove Cadillacs. When you went in there, someone was always on the phone. Hmmm. When the racetrack nearby burned down and closed, they closed as well.
It was reopened by two guys who my parents knew. They said that the phone was constantly ringing from folks wanting to place bets.
But obviously, they made a tiny fortune on the betting business. So I have to wonder, how do bookies calculate their odds? Do they use IT technology? Or is it just a gut feeling? I'm not a betting man myself, but I don't mind other folks doing it.
And even if I did know that the delicatessen was a front for a bookmaker operation, I wouldn't have cared. As long as they kept making those hoagies. My tip: If you want to really experience a hoagie, find a mom and pop delicatessen in South Jersey.
Schroedinger's Brexit: The UK is both in and out of the EU at the same time!
Gut feelings and odds have little to do with it. Bookies try to get enough people to bet on both teams. If too many people were betting on the Packers, they would move the spread so more people bet on the Steelers, and vice versa. They have to balance the money on both sides so they have enough to pay out. Most bookies take a percentage of the bet, or a "vig", so they get paid no matter which side wins. I ran a small operation in high school like this. The house always wins. If a bookie runs into the situation where his cash flow isn't as good as it should be, he usually lets them carry over the bet into the next week. That gets kinda hard with the Super Bowl. just my $0.02 (plus my percentage)
Fast, cheap, correct. You get to pick two.