Is Favourite-Longshot Bias Evident in Bookmaker Data for the AFL?

More than once here on the MoS website we’ve looked at the topic of favourite-longshot bias (FLB), which asserts that bookmakers apply a higher profit margin to the prices of underdogs than they do to favourites. In one MoS piece (15 years ago!) I had more of a cursory look and found some evidence for FLB using 2006 to 2008 data, and, in another piece, a few years later I had a more detailed look and found only weak to moderate evidence using opening TAB data from 2006 to 2010.

At this point I think it’s fair to say that the jury is still out on FLB’s existence, and waiting for more convincing evidence either way (and very unhappy at having been sequestered for 13 years in the meantime).

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The Relationship Between Expected Victory Margins and Estimated Win Probabilities

There are no doubt a number of viable ways of doing this, but one obvious approach is to fit a logistic equation of the form shown at right.

This provides an S-shaped mapping where estimated win probabilities respond most to changes in expected margins when those margins are near zero. It also ensures that all estimated probabilities lie between 0 and 1, which they must.

I’ve used this form of mapping for many years with values of k in the 0.04 to 0.05 range, and have found it to be very serviceable. I’ve also previously fitted it to bookmaker data and found that it generally provides an excellent fit.

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Are V/AFL Scores (Still) Like Snowflakes?

Almost 10 years ago I wrote a blog that, among other things, noted that the score progressions - the goals.behinds numbers at the end of each quarter for both teams - were unique for every game ever played, regardless of the order in which you considered the two teams’ score progressions, home first then away, or away first and then home, choosing at random for every game. At that point, the statement was true for 14,490 games.

It seemed pretty startling then but, as of the end of 2024’s Round 9, the statement is STILL true, and that’s now for 16,487 games. V/AFL games remain as snowflake-like as ever.

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An Extra Slice of An Analysis of Strength of Schedule for the Men's 2024 AFL Season

I was thinking about the Strength of Schedule metric used in this blog from yesterday, and it struck me that, rather than using the raw values of the opponent team’s MoSHBODS rating and (for some metrics) the net Venue Performance Values (VPVs) for a game, we could, instead, convert these numbers into a win probability, which might make the resulting aggregate Strength of Schedule value more readilly interpretable.

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An Analysis of Strength of Schedule for the Men's 2022 AFL Season

I thought that this year I might not have time to perform the traditional Strength of Schedule analysis, having spent far too long during the off-season re-optimising the MoS twins (more on which in a future blog), but here I am on a rainy night in Sydney with a toothache that a masochist would label ‘unpleasantly painful’ and the prospect of sleep before tomorrow’s 11:30am dental appointment fairly remote. So, let’s do it …

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Updating the Player-Based MoSHPlay Forecaster

Last season, we had the first partially player-based forecaster, MoSHPlay, which provided forecasts for game margins and game totals, and estimates of home team victory probabilities. It performed reasonably well in a year that was, in many ways, completely unlike those it had been trained on.

It used as inputs the margin and team score forecasts of MoSHBODS, and player ratings derived from historical SuperCoach scores.

In this blog I’ll take you through the process of reviewing the existing MoSHPlay forecasting equations, and investigate the efficacy of deriving player ratings from AFL Player Rating scores rather than from SuperCoach scores.

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Updating the MoS Twins for the 2021 Season

Perhaps naively in retrospect, I had hoped that the changes I made to the MoS twin algorithms in preparation for the 2020 season would be the last I’d need to make for a while. But, the unusual nature of 2020 fixturing highlighted some characteristics of both Systems that I thought needed redressing, so 2021 will see new versions of MoSSBODS and MoSHBODS providing key forecasts.

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