implied

CRANimpliedMaRDI QIDQ106016

Convert Between Bookmaker Odds and Probabilities

Jonas Christoffer Lindstrøm

Last update: 11 June 2023

Copyright license: GNU General Public License, version 3.0

Software version identifier: 0.4.1, 0.2.5, 0.3.0, 0.3.1, 0.4.0, 0.5

Description

Convert between bookmaker odds and probabilities. Eight different algorithms are available, including basic normalization, Shin's method (Hyun Song Shin, (1992) <doi:10.2307/2234526>), and others.

Cites work

• Prices of State Contingent Claims with Insider Traders, and the Favourite-Longshot Bias

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