Odds for 2012 World Series, Converted to Projections
Bodog has published their early odds for the winner of the 2012 World Series. I’ve included the odds for each of the 30 MLB teams below. I’ve also included the break-even (BE) point (i.e. the likelihood of winning above which a team must have in order for a bet to be profitable) and a generic “projected” probability (i.e. what the odds suggest is the likely chance of each team winning the World Series) calculated by scaling the total break-even percentage for all 30 teams to 100%.
Numbers after the jump. Note: I’ve assumed, as I believe is custom, that the bettor gets his original stake back in a winning bet. So if the odds are 4/1 — as they are for Philadelphia — the bettor receives $5 in return for a winning $1 bet, making the break-even point only 20%.