|Clayton Kershaw - Vegas' Favorite Pitcher|
As with my other sports rankings, my goal is to reverse engineer an implied power ranking from the betting lines and totals. In other words, I'm trying to figure out what the betting market "thinks" are the best and worst teams.
Because baseball uses moneylines instead of run spreads, I have to convert the moneylines into an implied probability, and then combine that probability with the betting run total to arrive at an implied (fractional) runs scored for each teams (using pythagorean expectation). I can then run my regression analysis just as I do for the other point spread-based sports.