- Posts: 1855
- Joined: Fri Nov 02, 2012 3:53 pm
A team that wins a division has a roughly 1/8th chance to win the World Series since there are 7 other teams remaining once they start postseason play. The postseason is enough of a crapshoot, and we are far enough away from Opening day anyway, that I use the 1/8 multiplier once I figure a team's odds of winning it's division. Once we approach the season's beginning I tweak, but only slightly, the 1/8th multiplier based on my assessment of whether a team is particularly well-suited to win short-series in October. But really, 1/8 is the appropriate multiplier in almost all cases.
By contrast the two wild card teams must win a play-in game just to advance to the level of the final 8. So the appropriate multiplier there is 1/16. Win a coin flip game then become one of 8 teams in a postseason tournament crapshoot to win the World Series. No it's not a pure crapshoot but it's close enough to one that the multiplier works at this early stage of the offseason.
So once you've figured out an estimate for a team to advance to the postseason as a division winner you multiply that by 1/8. You then add that to the product of the estimate of winning the wild card and 1/16. From that comes a percentage chance to win the world series, which can be expressed in Vegas style "odds against" as I described earlier in this thread. I.e., a team with a 10 percent chance to win the World Series at season's beginning has a 9:1 shot. That's the payout that the team would get if it won it all. 9x$100 = $900. The other 90% of the time you lose your $100.