Phoenix - Your AI AssistantI need a mathematical problem solved representing a dummy tennis game odds
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Hi, I need a theoretical mathematical model for a dummy tennis match where the tennis players start with equal odds:
Player A vs Player B - 1.90 vs 1.90
and every time someone places a bet the odds change in a way that the house always wins. It can be done in any software you want, like excel or matlab.
Of course the house cant always win (if for example there are no bets in favor of Player B, the odds of player A change to 1 or N/A until someone places a bet on B). Another implementation is for the house to always win after a certain amount of bets (like 100 split in a player favored way explained below):
Player A is favored by betters in a 50%+x way so that if Player A is favored 70% then bets on Player B are usually the 30% of the bets on A.
The betting unit amounts must be random starting from 1 and ending to 5000.
If you have any questions please let me know.
Player A vs Player B - 1.90 vs 1.90
and every time someone places a bet the odds change in a way that the house always wins. It can be done in any software you want, like excel or matlab.
Of course the house cant always win (if for example there are no bets in favor of Player B, the odds of player A change to 1 or N/A until someone places a bet on B). Another implementation is for the house to always win after a certain amount of bets (like 100 split in a player favored way explained below):
Player A is favored by betters in a 50%+x way so that if Player A is favored 70% then bets on Player B are usually the 30% of the bets on A.
The betting unit amounts must be random starting from 1 and ending to 5000.
If you have any questions please let me know.
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Hey, Dimitri.
- Could you please specify whether you want a theoretical model, or an actual working implementation of it, or both?
- If you do want a working implementation, is dynamic/live-update functionality (as in "reading the odds through some API") a requirement , or will the house/user just type in the odds and bet amounts?
- Is the maximum amount in bets (in number of bets or in $$) that the house can withstand until the market is profitable set or does it vary?
Thank you.