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Three-way moneyline

also: 1X2 · match result odds · home draw away

The match-result market: one price on the home win, one on the draw and one on the away win.

Formula
implied probability = 100 / (odds + 100) for plus odds, -odds / (-odds + 100) for minus odds

Soccer's main market has three outcomes because a draw is a result. Each sportsbook's three prices imply three probabilities that add up to more than one; the excess is the book's margin, the overround.

get_odds returns each book's home, draw and away prices and, under close_prob, the three probabilities with the margin removed proportionally. That is the market's view of the match, ready to compare with a model.

The common mistake

A two-way price on one team (the draw-no-bet or the Asian handicap) is a different market. Comparing a model's win probability with a three-way price without removing the draw overstates the edge.

Where to get it

Related

Three-way moneyline from the API

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