ERIC Number: EJ1241472
Record Type: Journal
Publication Date: 2020
Pages: 6
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-0141-982X
EISSN: N/A
Available Date: N/A
Football Matches: Decision Making in Betting
Chalikias, Miltiadis; Kossieri, Evangelia; Lalou, Panagiota
Teaching Statistics: An International Journal for Teachers, v42 n1 p4-9 Spr 2020
The aim of this paper is to approach the teaching of the Poisson distribution in a friendly and amusing way. It constitutes a common practice to adopt the main probability distributions in order to predict results of sport events and to estimate the win return of betting activities (Chalikias 2009). In particular, by using the Poisson distribution, we can calculate the probability of the final score in a football match, and then we can compare this probability with the values that various betting companies offer. Combining this information with the average of goals for both, it is possible to make a decision as to which betting company is more profitable for the betting players. The case study of the English Premier League is examined.
Descriptors: Decision Making, Team Sports, Probability, Statistics, Scores, Comparative Analysis, Case Studies, Foreign Countries, Teaching Methods, Corporations
Wiley-Blackwell. 350 Main Street, Malden, MA 02148. Tel: 800-835-6770; Tel: 781-388-8598; Fax: 781-388-8232; e-mail: cs-journals@wiley.com; Web site: http://www.wiley.com.bibliotheek.ehb.be/WileyCDA
Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: United Kingdom (England)
Grant or Contract Numbers: N/A
Author Affiliations: N/A