GUI to determine sports gambling payouts.
I want to learn how sports gambling payouts actually work. I've never even gambled before, but there seems to be a general lack of knowledge on the mathematical portion of sports gambling.
I am also interested in the topic of arbitrage betting. Basically using two different sports books and betting in separate directions to gaurantee yourself a victory.
The first step will be create something that simply tells how much you will get paid for a bet. The next step would be to create the ability to have lines for multiple sports books. Then adding what the optimal betting stance to take would be. Or even if you could get yourself to have an expected payout that is positive. Based on the fact that sports books need to profit, the expected profit for the user should always be negative. So, we need to find a betting point that will either gaurantee the bettor makes more or is at least expected to make money. If this is actually going to be implemented and used on real sportsbooks, then the wagers need to look normal. For example, betting $31.76 would look pretty suspicious because most people are probably just betting $30 or $35. There would have to be a factor of trying to gamble round numbers to avoid getting kicked off of these sports books.
I need to better learn how to use Python. And being that Python has a lot of math tools, it should be beneficial for this project. First, I will need to develop a simply GUI. Then, creating the logic for determining the sports gambling payouts. I would like to use a solid object-oriented design for this, including the use of classes so that I can gain a better understanding of how classes should be used in Python.