What’s New in Bet Labs?
Recently, we have added some new features and made Bet Labs more convenient to use. Below we’ll highlight these changes and show how they can improve your Bet Labs experience.
Here is the new Bet Labs Home page in full (click image to enlarge):
We have chosen to emphasize your current systems and current game matches.
We have added a sports tab for you to use. It will still default to all sports, but if it’s a busy Saturday and you only want to look at college football systems, you now have that ability.
This is the new Game View for your current game matches. Here you can easily see which teams your systems are on. We also list the overall performance and the current season performance for each system. This view is extremely helpful when making decisions on which games to bet.
At the top of each system, you will now see a Grade to go along with the other result fields. This quickly lets you know if your system has some flaws. If you click on the grade, you will get a more detailed breakdown:
The grade is based on your record, sample size, and whether or not you are “overfitting” your data.
We hope you enjoy the changes we have made. If you are new to Bet Labs or are interested in reactivating your account, we offer a $25 trial to test out the new features.
As always, we welcome feedback on any new filters and features you would like to see. You can leave them in the comments section below, or jump over to our free community to discuss new features.
James
10/09/2013 at 3:03 pmUpdate looks great and the new layer of functionality is great too. Another layer of functionality you get to at some point is to show Bet Labs user stats for each system play. Let me try to explain:
Say I create a system for NCAAF Dogs coming off a week where they were the favorite. That system says Team X is a play. I would like to see beside Team X is what % of other Bet Labs users/systems have also indicated Team X is a play as well as what percentage of users’ systems have indicated Team X’s opponent.
So, Team X is a play. Next to it would be something like this: (77% of Bet Labs systems also indicate Team X is a play, compared to 23% of Bet Labs systems have indicated Team Y is a play).
Thanks!
PJ
10/10/2013 at 8:50 amThanks James,
We have discussed a Bet Labs user stats feature, but keep running into two main issues:
1. Not every Bet Labs system is a good system. For example, some users like to analyze quick trends to supplement their handicapping, but aren’t necessarily betting those trends. For example, there could be systems built that are 10-0 ATS in the NFL, but that sample isn’t big enough alone to recommend a bet.
2. Many of our Bet Labs members create “fade” systems to bet against. For example, there are some systems built that only have a 35% ATS win rate, which can be very valuable if you bet against them. This would cloud the data when we said 77% of Bet Labs users are on this side because many of those systems would actually say to fade that team.
Cory
12/30/2014 at 12:18 amHow do you calculate a Z score for a system? What variables do you use for the mean and standard deviation? How do you assign a grade?