About
What is this?
knows that beating the market is hard. But how about understanding the market?
There is a lot of information out there, and we can use it to understand what might be shaping the betting market for an individual game. The starting point is the Rating. We use preseason over/under win-total markets, each team’s schedule, and a few additional pieces of data to ask: What implicit rating for every team makes sense of all this market information?
The answer is the Rating, displayed relative to the FBS average. It represents how many points above or below average the market must collectively view a team for our game-by-game probabilities to reproduce its de-vigged expected win total.
So can I use the Rating to beat the market?
Three details matter:
- The OV Rating is an aggregate view. Individual lines include game-level information that may move a spread by a few points without materially changing a team’s season-long rating.
- Beating the market is genuinely difficult. OnVarsity does not pretend otherwise.
- The matchup view is kept independent. We deliberately exclude that game’s market line from its OV Line so the difference remains visible rather than being fitted away.
That visible difference is where Explanatory Factors—or simply Factors—come in. Factors are game-specific conditions that may help explain why the market differs from the OV Line: key injuries or suspensions, quarterback uncertainty, early-season transitions, weather, rest differences, unusual game-flow incentives, and more. Some conventional ideas sound persuasive but do not hold up when tested. We show those findings too.
We are not promising that you will beat the market. We promise to help you make sense of a complicated data space: what we tested, what the historical evidence suggests, how uncertain the estimate is, and what remains unexplained. You decide what belongs in your view. We hope you use that power wisely.
The honest answers
Common questions
What is the difference between the OV Rating and the OV Line?
The Rating is our estimate of a team’s overall strength, expressed in points relative to the average FBS team. It is an aggregate view built to make sense of preseason win-total markets, schedules, and the other information incorporated into our model. The Line asks a narrower question: given what we know about these two teams, what would their matchup-specific spread look like without using the market line for this particular game? It accounts for things like location and the way very large rating differences translate into actual game spreads. That is why the Line will not always be a simple subtraction of two ratings. The rating describes the team. The line describes the matchup.
Why doesn’t the OV Line simply equal the ratings gap plus home-field advantage?
Because football—and the betting market—does not behave quite that neatly. Subtracting the teams’ ratings and adding home-field advantage will usually get you into the neighborhood. But our ratings are designed to represent aggregate team strength, and very large differences between teams do not translate perfectly into game spreads on a one-for-one basis. A 30-point rating difference, for example, may imply something different at the game level than a three-point rating difference. We tested how rating gaps historically translated into real betting lines and use that relationship when presenting the Line. So if your arithmetic does not exactly match the displayed line, you have not forgotten how subtraction works. The Line is a matchup-specific model estimate, not just ratings gap plus HFA.
Why don’t you automatically adjust the OV Line for every Factor?
Fair question. We could combine every Factor estimate, replace the OV Line with one adjusted number, and ask you to treat that as the answer. But that would hide the most useful part of what we do. Factor estimates are historical averages with uncertainty. Factors can overlap, and the circumstances of one quarterback, weather system, coaching change, or matchup may not deserve exactly the historical average. You may reasonably weigh that evidence differently than we would. So we preserve the OV Line as the baseline before any Factor adjustments, then show the Factors, their estimated effects, the resulting OV Factor-Adjusted Suggested Line, and anything the market still appears to account for that we cannot. Our job is to make the evidence visible and understandable. Your job—should you choose to accept it—is to decide what belongs in your own line.
Do I add the Factors to the OV Line to create a new prediction?
You can—but we would not tell you that you have created a better prediction by doing it. We provide a rough combined Factor estimate because we know users will reasonably want to understand their total direction and magnitude. If one Factor points three points toward one team and another points one point toward the opponent, it is useful to know that they roughly net to two points. But Factors can overlap. Their historical estimates also contain uncertainty, and we almost certainly have not identified every relevant piece of information. The combined number is best understood as an estimate of how much of the -to-market difference might be explainable—not as a new betting line wearing a fake mustache.
What does it mean when a single Factor has both opening and in-week effects?
It sounds counterintuitive, we know, but there is a reasonable explanation: the two estimates describe different stages of the same market. Remember what Factors are trying to measure—the game-level points that may help explain the difference between the OV Rating-based spread and the market consensus. Before betting opens, sportsbooks use their information—which is almost certainly more complete than ours—to set an opening line that reflects their view of the game, expected customer demand, and an acceptable level of risk. That is the opening effect. After the line opens, the market continues absorbing bets, new reporting, injuries, weather, and the opinions of bettors whom sportsbooks respect. The net change after the opener is the in-week effect. The same underlying condition can matter at both stages without being counted twice: we estimate what was reflected at open, then what changed afterward. We show the effects separately because sportsbooks and the later betting market do not necessarily price the same information in exactly the same way. As always, we give you the evidence and let you decide what story it tells.
Why don’t the Factors explain the entire OV-to-market gap?
Because we do not know everything. We’re not the kind of people who would have known that Blue Horseshoe loves Anacott Steel. The market may be responding to injuries, personnel decisions, matchup details, weather, informed bettors, or other information we have not yet identified or cannot reliably measure. Some Factors may also be more or less important in a particular game than their historical average suggests. And even when multiple Factors are relevant, they may overlap rather than operate independently. An unexplained remainder is not a bug we intend to hide. It is information. It tells you that the Factors we have identified do not fully account for the market’s position—and that you should decide how much confidence to place in the available explanation.
Why doesn’t every game have Factors?
First, we’re trying! OnVarsity is a very small team, and we would rather show no Factor than give you bad information. We are compiling as much usable data as we can, then testing the conditions most likely to have a meaningful game-level effect. Coverage will grow as the evidence does.
What does “aligned with market” or “counter to market” mean?
It only describes direction. If the Line is Michigan −10 and the market is Michigan −7, the market has moved three points toward Michigan’s opponent relative to . A Factor that historically points toward the opponent is therefore aligned with market. A Factor pointing toward Michigan is counter to market. Neither label tells you which side is correct. “Aligned with market” does not mean “good,” and “counter to market” does not mean “wrong.” We use the labels to help you understand whether a Factor could explain the observed difference—not to quietly turn the page into a list of picks.
Why do Factors sometimes run counter to the market?
The most honest answer is that we do not always know. A Factor can show a meaningful historical association and still have a wide range of outcomes; a more granular version may eventually explain that variation. The market may also be responding to information we have not captured—or pricing something that history does not support. We show counter-market Factors because hiding them would create false confidence.
Where can I see the evidence behind a Factor?
In the Ledger. Every live Factor should link to the study supporting it. The Ledger shows what we tested, the historical sample, the estimated effect, the uncertainty and limitations, and—when available—the individual games behind the result. We also include studies that did not support a separate adjustment. That matters because conventional football wisdom contains plenty of ideas that sound obviously true until someone has the poor judgment to test them. You should not have to trust a number simply because we placed it inside a polished box. Follow the link, inspect the evidence, and decide whether the historical comparison makes sense for the game in front of you.
You said my piece of conventional wisdom wasn’t important. Are you stupid?
We assume so. But can we prove it to you? OnVarsity is not saying that revenge games or look-ahead games are imaginary. Our claim is much narrower: in the historical data we studied, those labels did not reliably explain an additional game-level difference between the OV Line and the market spread.
Think of it this way: everyone can identify a revenge game before the season. Bettors can account for that matchup when pricing a team’s win total, and that preseason market information helps shape the OV Rating. By the time the game arrives, the narrative’s value may already be embedded in the aggregate market view. So no, you are not necessarily wrong that it matters. Our evidence suggests it may not matter again, in the specific incremental way people often assume.
How do you avoid using information that wasn’t available before the game?
We try to recreate what could reasonably have been known before kickoff. For an in-season statistic, that means using information from games completed before the week being predicted—not statistics produced by the game we are trying to explain. For injuries, quarterback changes, coaching situations, and similar Factors, we use or reconstruct the information the market could reasonably have had before the game. Most importantly, the Line shown for a matchup does not use that game’s market line. If we included it, the model could simply absorb the very difference we are trying to understand. That would make the page look impressively accurate while teaching you almost nothing, which is not our idea of transparency. Historical reconstruction is not perfect, especially when older reporting is incomplete. When we cannot establish what was known or when it became known, that uncertainty belongs in the Ledger rather than underneath the rug.
Why do your rankings say my favorite team isn’t good?
We probably don’t like them. We like only one team; everyone else is a sad facsimile of a college football program. But more importantly, we don’t think anything. You do—or, more precisely, you and everyone else whose opinions help shape betting markets. The Ratings reconstruct that collective view from win totals and schedules. We just tell you what you seem to think, in aggregate. We know you better than you know yourself.
But seriously, why do you hate my team?
That’s why we built several ways for you to tell us exactly what you think. Head to My Ratings and choose the better team in synthetic matchups, or make picks on real games. Keep telling us who you think is best, and we’ll use nearly the same algorithm that calculates the Rating to build your personal ratings.
I want to believe you, but I’ve been hurt before. Are you going to hurt me, bro?
We hope not! You seem nice. You’re reading this, so you’re definitely someone we would almost probably talk to—and we try not to do that too often. But listen: you don’t have to believe us. Do you believe in yourself enough to take this information and decide what to do with it? If not, start with one of our primers. We promise it will be gentle.
Why did you guys make me lose that play I made?
We’re sorry, your call cannot be completed as dialed.
Who is your daddy and what does he do?
Why are you trying to make us feel feelings again?
Under the hood
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See how the ratings, matchup lines, simulations, and diagnostics work—and review our data and trademark disclosures.
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