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I have built a Random Decision Forest classifier for predicting the winner of MMA fights. I'm looking for some guidance in determining an optimal algorithm for placing bets on a given fight, where the odds are given by the moneyline of various online gambling sites. The intention is to maximize profit over the longer term. Some difficulties I imagine would need to be surmounted is working out how large a bet to place on a particular fight compared to others, finding a good expected payoff cutoff above which to place bets and below which to not place the bet, etc. Any and all guidance in this matter would be most appreciated! |
