Spiky betting odds during LeBron James decision

LeBron James decided to head back to Cleveland, so naturally the odds that they win the championship went up. Todd Schneider charted the betting odds as the announcement happened to see how much they went up.

Of course that 10% already had built in some likelihood that James would choose to play for the Cavaliers next season. Before Cleveland was considered a threat to land LeBron, their championship odds were around 2%, so the 10% Cleveland odds immediately before LeBron’s decision perhaps reflected market expectations that LeBron had a 50% chance of choosing Cleveland: 0.5 * 0.18 + 0.5 * 0.02 = 0.1

Houston, who was expected to pick up Chris Bosh if James went to Cleveland, also saw a spike during the announcement, but the odds quickly came back down once Bosh decided to re-sign with Miami.

Favorites

Pizza Place Geography

Most of the major pizza chains are within a 5-mile radius of where I live, so I have my pick, …

Jobs Charted by State and Salary

Jobs and pay can vary a lot depending on where you live, based on 2013 data from the Bureau of Labor Statistics. Here’s an interactive to look.

Real Chart Rules to Follow

There are rules—usually for specific chart types meant to be read in a specific way—that you shouldn’t break. When they are, everyone loses. This is that small handful.

Think Like a Statistician – Without the Math

I call myself a statistician, because, well, I’m a statistics graduate student. However, the most important things I’ve learned are less formal, but have proven extremely useful when working/playing with data.