go-odds

go-odds is a simple and fast utility library for making betting odds conversions between formats and calculating probabilities in Go.

Go gopher illustration created by Egon Elbre, originally created by Renee French.

• Installation
• Converting odds between formats
  • Data types
  • Odds conversions
• Overround and Payouts
• Arbitrage Calculation
• Kelly Criterion
• Simple Parlay Bets

Installation

Download the library using go get:

go get github.com/jsgm/go-odds

Import in your current repository:

import (
    odds "github.com/jsgm/go-odds"
)

Converting odds between formats

Data types

Each odd type will return a different data type, depending on your needs.

Odd format	Function	Type
Moneyline	.Moneyline()	int16
Indonesian	.Indonesian()	float64
Malay	.Malay()	float64
Decimal	.Decimal()	float64
HongKong	.HongKong()	float64
Implied Probability	.Probability()	float64

Odds conversions

o := odds.NewOdd(odds.Decimal, 1.64)

// Convert to implied probability
float := o.Probability()

Overround and Payouts

home, _ := odds.NewOdd(odds.Implied, 65.00) // Home odds from Implied Probability
draw, _ := odds.NewOdd(odds.Decimal, 4.00)
away, _ := odds.NewOdd(odds.Decimal, 7.00)

fmt.Println("Overround ", odds.GetOverround([]odds.Odd{home, draw, away})) // 4.285714285714278
fmt.Println("Payout ", odds.GetPayout([]odds.Odd{home, draw, away})) // 95.71428571428572

Arbitrage Calculation

todo

Kelly Criterion

Kelly Criterion is simply strategy that helps calculating the proper stake that you should wager on a particular event. This doesn't just applies to betting but also for investing and calculating risks.

• b is the multiple of the stake.
• p is the probability of winning. 70% chances of winning should be 0.7.
• q is the probability of lossing. i.e. 100% - p = 30. The value would be 0.3.
• K% is the suggested percentage of the bankroll for the event.

Simple Parlay Bets

o1, _ := odds.NewOdd(odds.Decimal, 1.25)
o2, _ := odds.NewOdd(odds.Implied, 50.7)
o3, _ := odds.NewOdd(odds.Decimal, 4.5)

multi := []odds.Odd{o1, o2, o3} 
stake := 10.0

p := odds.NewParlay(multi, stake)

p.Profit() // 67.22386587771203
p.Payout() // 77.22386587771203
p.SellectionCount() // 3
p.Probability() // 12.949364663814572 (%)

Round Robin

todo

Teaser

todo