Yoopick is a fantasy sports picking game that implements a flexible picking language. Several methods have been developed for predicting the outcomes of sporting events, including polling, machine learning techniques, and Vegas style betting exchanges.
Studies show that betting markets and related prediction markets yield remarkably accurate probability estimates.
Two of the most common types of sports bets are money line bets and point spread bets. In money line bets, players bet on which team will win a given game. In spread betting, players bet on whether the final point difference between the competing teams will be greater or less than the value specified by a bookie.
If the bookie sets the spread at 3.5, for example, a bet on the favorite team pays if the favorite wins by more than 3.5 points. As bets are placed, the bookie continually adjusts the spread so that gamblers are equally likely to bet on either side of the spread.
Yoopick allows a user to estimate the entire point spread probability distribution in a single unified market. Users select a point interval and bet on the final point difference landing in that interval, like Pittsburgh will win by between 2 and 11 points.
With Yoopick, you can bet on any outcome you want and cash out your bet at any time. Users start by selecting a sports league and game, then place bets through a slider that covers a point spread range.
Yoopick was created by the Economics and Social Systems group.
Hello Yahoo Sandbox and Economics and Social Systems group, creator of this Yoopick game, 06-14-09 Can I put this game to practical use in my Las Vegas Neighborhood SportsBooks ? I imagine I could make it work, but was it created for fun and entertainment, or like those MIT guys, will it make me a winner ? :-) Thanks, Mike Goodold too =Comment by Mike Goodold (June 14, 2009, 6:09 pm)