Monday 28 March 2022

The Dark Horses Market and my pre EuroJury/Rehearsals Top-10 that will come back to haunt me...

 

Last week I have examined the favorites in Winner's market and now is the time to have a look at some entries that might surprise us in May. 

Some of them are just behind the favorites and some might be hiding in the mud, waiting for the rehearsals to make their appearance.

Some of these entries have a slim chance to win the contest, and some of them have some value for future trading during the rehearsals.

Netherlands 44.00

When I first heard 'De Diepte' I loved the song. I had some second thoughts regarding the Dutch language. It seemed to me that Avrotros is signaling that they would not wish to win and host again. 

However, there are a few countries that recently opt for their native language instead of English. The only song in Top-5 last year that was in English was Iceland (4th) so there is still some hope. 

S10's live appearance gave us also an idea about the staging in May and it was impressive. By far the best lighting visuals we have seen for a while.

My humble opinion: 'De Diepte' is a jury bait and the fact that the people metrics have it high as well is a winning combination. 

Let's not forget that 'Calm After the Storm' was trading at triple digits just before rehearsals. 

If they nail the staging a Top-3 Jury score and a Top-5 Televoting would be within reach and then you never know. 

For the moment is a solid Top-10. 


Portugal 100.00

The fact that Maro managed to win Festival da Cancao with an 8-point margin in a 24-point voting system, says it all. And it was an extremely competitive national final.

Portugal is currently running a great streak since its win in 2017 and that streak, I believe it will continue this year as well. 

My humble opinion: 'Saudade, saudade' has that amateurish feel-good feeling and a mesmerising melody that could turn it to a contender. 

This is a proper sleeper that could elevate after the Semi-Finals.

It reminds me of Kedvesem that managed to sneak in Top-10 only this one has more potential.

@ 100.00 it is a value bet, either for a trade or all the way. 


Serbia 140.00

The song that offers everything to everyone!

'In Corpore Sano' is a song, an artistic performance, a parody, a social and political comment for the Serbian society but has universal appeal as well.

And of course, it has Meghan Markle. I wonder how many TV commentators will resist the temptation to mention this verse.

My humble opinion: Serbia is the definition of dark horse. It's the one that could be the talk of the town and gain momentum at the right moment.

Win is out of reach, but a Top-5 would not shock me.


Honourable Mentions

I have mentioned so far eight countries and there are a few more that have some potential for a good finishing but are lacking the full package.

Spain is currently seventh in odds. Many compare SloMo with Fuego. Spain is the only country that could present something like Fuego and get away with. However, even if the Televoting is high, the Juries have no reason to have it higher than Top-10. And let's not forget that Fuego finished fifth there...

Top-10 is the most probable scenario and if I were the Spanish delegation, I would happily take it.

Norway is the other Televoting magnet. Here we have the precedent of Keiino when they won Televoting but finished just 18th with the Juries. 'Give that Wolf a Banana' will not finish that low, but it is more difficult to land a televote win this year. 

Again. Top-10 seems possible depending on how high the Televoting will be.

Based on what we have seen and heard so far there are a few more entries that could surprise us in May and finish high, but we need to wait for the rehearsals. 


My Pre-Euro Jury/Rehearsals Top-10

And now is the time for my Top-10. Many things will change between now and May, but first impressions and gut feeling should always be taken seriously and work as a compass when we are deep in the Eurovision bubble.

Here we go...


1. Italy

2. Ukraine

3. Netherlands

4. Sweden

5. Poland

6. Portugal

7. Greece

8. Spain

9. Serbia

10. Norway


Within this week we will most probably have the running order for the Semi-Finals. This is when I will start presenting my estimations for the Semis participants along with some useful stats.

And it will be time for some Early Bird units to be used...

Stay tuned!




Sunday 20 March 2022

The Eurovision year that will live in infamy...

 

The National Finals season is officially over, but the festive mood is missing the last few weeks. The events in Ukraine have casted a shadow over Eurovision as well.

It is exceedingly difficult for me to analyse Ukraine's chances in a song contest when there is an actual war happening there. I hope that the war finishes as soon as possible, and life can thrive again in a country that has suffered so much! 

Show me some patterns first!

It is now three years in a row, and four in the last five, that there is a different winner among Juries and Televoters.

Italy was the first winner that ranked 4th with Juries and a similar total to Netherlands in 2019 (5,        T-V:2nd - J:3rd). 

France had the same total as well (5, T-V:3rd - J:2) but lost because Televoting points tend to be higher compared to Juries' at least for the Top-5.

All three winners since 2018 won despite losing the Juries!

The breakdown of the last three Top-3

2021

1. Italy              J: 4th - TV: 1st

2. France          J: 2nd - TV: 3rd

3. Switzerland  J: 1st - TV: 6th


2019

1. Netherlands J: 3rd - TV: 2nd           

2. Italy             J: 4th - TV: 3rd           

3. Russia         J: 9th - TV: 4th


2018

 1. Israel            J: 3rd - TV:1st

 2. Cyprus         J: 5th - TV: 2nd

 3. Austria         J: 1st - TV: 13th


Breakdown of the Average Points in Total, Juries and Televoting (2014-2021) *

Total                    Juries                Televoting

1. 573.4 pts         1. 294.9 pts       1. 337.7 pts

2. 498.6 pts         2. 240.1 pts       2. 278.1 pts

3. 417.7 pts         3. 208.1 pts       3. 244.6 pts


Televoting offers a useful handicap of +30 points that helps secure the win. 

Finishing 3rd in Televoting has more value than finishing 2nd in Juries.

It will be interesting to see how this year will turn up, with most of the favorites being jury baits and a few televoting magnets that do not stand a chance with Juries. This might be the year that the Jury winner wins the trophy losing the Televoting. It would have happened in 2015 if the 50/50 system were applied with Sweden winning the Juries and finishing 3rd with Televoting.


Enough with the numbers and time to check the favorites.


1. Ukraine 2.70

That is a roller coaster ride! A different Vidbir winner, a voting scandal, a cancelled winner for political reasons, a Russian invasion and here we are with Kalush Orchestra representing Ukraine and leading the Winner's market!

I cannot imagine the odds they would have had Alina Pash been the representative of Ukraine.


They have reached odds on a few days ago but drifted slightly since then. Song-wise, Stefania is a nice song with the folk elements that Ukraine knows how to use to its favour. 

The market thinks that this is an almost certain winner given the circumstances. Punters assume that there will be a massive Televoting and some love from the Juries that can guarantee a landslide victory. 

My humble opinion: Ukraine's odds are a classic example of narrative fallacy. There are too many red flags out there to suggest that the victory is far from certain. Just to name a few:

- It has lost its national final.

- When Kalush Orchestra were announced, Ukraine drifted from 6.00-8.00 to +20 and only when the invasion started shortening again.

- It's not Jury-friendly! It will need at least 175-200 Jury points to secure the win and I struggle to see where they will find them.

- Kalush Orchestra will probably be live on tape. Having watched the tapes from last year is obvious that the quality of the staging will be inferior. Just remember Australia.

- Ukraine has confirmed its participation but things might change in the next few months. There is still a slim chance that Ukraine might withdraw.

- Sympathy votes can give you some extra points but cannot secure a win. If that were the case, Bosnia would have had back-to-back wins in 1993-1994.

- The narrative that Ukraine will win because of the war. Back in 2014 the narrative was that Conchita will not win because of the Juries, especially the Eastern European. In 2016 the narrative was that a sad song cannot win. In 2017, Salvador's facial expressions were quirky and would damage his televoting appeal. There are enough examples to support the argument that the Market does not get it always right, at least before rehearsals.

My point is that Ukraine has a nice song that is Top-10 worthy. The circumstances will boost its chances and with a great Televoting might be a Top-5 or even a Top-3 song but I fail to see it as a winner. A fair price would be 12.00-15.00

I do hope though that Ukraine is present on stage in May and receive the warm welcome and support that it deserves! It will be an iconic moment for Eurovision history.


2. Italy 5.00

Brividi appeared in the first night of San Remo and it never looked back. The whole National Finals season was a contest to find the song that could beat Brividi. 

I am not sure that we have found that song yet!

A very classy entry, which easily won the national final with the most quality. 

Italy is the first serious contender for a back-to-back win since Ireland back in 1992-1994.

My humble opinion: This is the one to beat! We need to wait for the three-minute version. I am not worried for the staging. The main concern for Italy is its Televoting appeal. Will it finish higher than the other sad songs/ballads that are in English? (Poland, Greece, Sweden etc).

Will the theme of the song about a gay couple break-up 'alienate' televoters?

If I had to choose a winner today, Italy would be my obvious choice, however I would not call it a certain winner yet. 

It's the only song that we already know its running order: #9. Italy has escaped #1-#6 that would have damaged their chances. #9 has not produced a winner or a podium finish in fact since 2013 when the producers are deciding the running order, but all the songs ranked in Top-10 apart from the 2 times that UK performed in that slot (2018-24th, 2021-26th). Sweden has finished 5th twice (2016,2019). In case more favorites are drawn to the first half, there is the easy fix to locate them #11 and #13 and use #8, #10 and #12 as fillers. 

The current odds are a bit short. The fair price is near double digits:8.00-10.00.


3. Sweden 7.60

The latest addition to the hot favorites club. Hold Me Closer was the wise choice for Sweden. It's the only song that could bring a good result for Sweden in an average Melfest year. 

Sweden's odds were @15-16 before the national final and shortened since then, trading @6.00-7.00 a few days ago. 

My humble opinion: 


 



     This is a pic tweeted a few days ago @eurovisionario. It shows the Top-5 favorites since 2014 the week after National Finals season is over. According to the odds, Sweden would have six Top-3 results plus a Top-5 in the last 8 years. In fact, only in 2015 overachieved winning the contest. 

Having a finished product at this time of the year, makes Sweden look a step ahead of competition. During rehearsals though, the other countries catch up and Sweden drops a few spots. 

I reckon that the same thing will happen this year as well. Hold Me Closer finished second with the Televote/App and this is a big red flag considering the weak field in Melfest.

The Juries always help and could guarantee the usual 175-225 points for Sweden.

However, Televoting is different story. The last time that Sweden received more than 200 televote points was in 2015 (if 50/50 system is applied, 279pts). There is a gradual decline in Swedish televotes year after year and the reason is authenticity. Swedish productions are slick, and they are rewarded by the jurors but at the same time lack the authenticity that is the current trend in the contest. 

Sweden holds the record with the biggest discrepancy between Juries and Televoting since 2018 (2nd and 23rd respectively) and the points ratio between the two constituencies is 2:1 in favour of the Juries since 2016. 

History does not predict the future, but I struggle to see Sweden finishing in Top-5 with Televoting and that is game over if you are aiming for the win. 

My current prediction is 4th-8th.


4. United Kingdom 18.50

Who would have thought that there would be a day that UK would be in a post about the Eurovision favorites? UK is finally back!

Spaceman is a proper entry that reflects the music industry of the country that represents. A sign that BBC cares about the contest and does try.

And now the million pounds question? Does UK have a chance to win the contest?

My humble opinion: 

Spaceman reminds me of J'ai Cherche' back in 2016. A decent effort from a Big-5 nation that was not even trying for a long time. They have similar odds as well.

The current odds are a classic over-reaction by the British punters. I wouldn't be surprised to see single digit odds later in the season. A fair price though is @ 50-70.

A feel-good song that is not a typical Eurovision entry and could get points both from Juries and Televoting. However, winning the contest is not within reach. 

8th-15th looks like the most probable scenario and Top-5 would be the absolute overachievement. 

What matters the most is the statement that BBC does this year to signal that is back and UK will be competing in the future.


5. Greece 23.00


Greece continues the tradition that started in 2019 and chose an artist from the Greek diaspora. Die Together is one of the many 'sad' songs of this year and many of them are in the first Semi Final as well.

The odds drifted slightly after Die Together was revealed but it has remained in Top-5.

My humble opinion: 

My main concern regarding Greece is the first minute of the song which is a make it or break it. Amanda will be singing alone with no music, and this is not an easy thing to do. 

Staging is the other key area. Fokas will be responsible for the staging providing some much-needed experience. This is one to watch out during rehearsals. 

My current estimation for Greece is the same with Sweden: 4th-8th.

Greece's best Jury result if 50/50 voting is applied back to 2009 is 10th that achieved last year. It will be better this year, unless there is a serious car crash in live, however I am not 100% sold on its televoting power. 

Greece has some solid allies that guarantee a certain number of points every year, however diaspora is absent for some time, since Greece stopped sending the classic ethnic-dance entries and Die Together is not one of those. 

Lastly, Die Together might have a negative impact as a song title, especially in the current socio-political climate. 


6. Poland 27.00


The last entry of the second sub-group of the favorites. When River was released, the odds reached single digits and Poland was leading the market for a few days. 

The price has drifted since the national final. Krystian Ochman's vocal abilities are unique, but his lack of charisma, has not convinced the punters that this is a winner.

My humble opinion: 

Poland should feel lucky that found the correct combination for its entry. A jury-magnet song by an artist that has the appeal to the Polish diaspora. 

On paper Poland could secure 200+ with both constituencies but I find it extremely difficult to reach the 500 points threshold. Staging will be crucial. 

My current estimation is 2nd-5th and the current odds have some value if we compare them with Sweden, UK and Greece. 


These are my first thoughts regarding the favorites. It is still early in the season to call a winner and for sure there will be more songs that will rise to the occasion later in rehearsals. 

I will post another article with my thoughts about the rest of the market next week. 

Feel free to share your thoughts about this year.



*2014 and 2015 had a mixed voting system, but the split results are available and offer more data to analyse.



Wednesday 9 March 2022

My 2022 Eurovision betting resolution...

 

It is almost three years ago that I started Eurovision Bets and Pieces blog, and this will be the third contest that I will be covering in detail.

The one thing that I haven't analysed so far is the outcome of my bets and my predictions.

The reason is that I spent so much time thinking about the contest and analysing patterns, metrics, and results that when the contest ends, I feel so burned out that I stop everything related to Eurovision for several months.

This post will focus in two different areas: My predictive analytics and my betting tips and strategy.


Predictive Analytics: Semi Finals


In four Semi-Finals so far, 

I have a bad result (7/10) and a great result (9/10) in 2019 and,

two average (8/10) results in 2021. However, in both Semi-Finals I had placed the countries that did not qualify ninth and tenth and the ones that have qualified eleventh and twelfth.

 I am happy with that!

My biggest disappointment is obviously the first Semi-Final in 2017 where I failed to find the winner and get right any the rankings apart from sixteenth and seventeenth.

The second Semi-Final was a different story, failing to predict only Albania's qualification. Austria was my call (everyone has a bad day...) and had successfully called Netherlands the winner.

In 2021, I have correctly called Malta in Semi-Final 1 and had Iceland first and Switzerland second with the actual difference being three points. 

My prediction average to date is 8/10 which is decent.


Predictive Analytics: Grand Finals


The most important stat of all! I have successfully called both Winners! (20192021).

Especially last year, I couldn't have asked for more! This was my forecast for Italy:


1. Italy 480 - 540 pts

J: 4th/ 180-210 pts - TV: 2nd/ 300-330pts

Currently the big favourite. Maneskin have conquered the top from the first rehearsal and have stayed there for the longest part of this week. They are performing in 24, surrounded by some jury magnets that highlights their televoting quality. 

Ukraine is now challenging their No1 status there, but the big question mark is how they will perform with Juries. They need a minimum of 180-200 pts there to feel safe. If they reach that threshold, win is theirs. The song might seem a bit aggressive, but Damiano is vocally perfect and there is no reason for Juries to punish them.

The win is currently @ 3.20. There may be a better timing to find a better price during the Jury voting if they are 3rd - 5th.

For those that feel confident for their Televote win the odds are in the 2.25-2.50 area.


I missed the Televoting win but was within the point range that I have predicted. And in fact, during the Juries' voting, Italy was trading @ 5.00-6.00.

Regarding the Top-4, I had 3/4 correct predictions in 2019 (had Azerbaijan instead of Russia) and 2/4 last year (overestimating Malta's and Ukraine's Televoting abilities and slightly underestimating France and Iceland that had them fifth and sixth). 

Having placed France fifth seems like a bad prediction, however I got right their Jury ranking and points range and slightly underestimated their televote, placing them fifth. I missed the points range just for 14 points. Overall, a great result as well. 

Top-10 is the other market that interests me with 7/10 correct predictions in 2019 and 9/10 in 2021! 

An acceptable average of 8/10 there as well.

In retrospect, things could have been better in 2019 but I have completely misread certain entries that could have helped me being closer to the results. 

2021, on the other hand has been better, nearing perfection. 


And now the most interesting part...


Betting Strategy and Tips


That's the part where there is so much room for improvement. 

In 2019 I had a book of 500 units, 100 for each Semi-Final and 300 for the Final. The returned units could be re-invested on Semi-Final 2 and Final.

As a result, my book looked like this:

Semi-Final 1

Poland NQ: 20 units @ 2.00

Serbia Top-3 at Semi: 20 units @ 4.40 

Iceland NQ: 10 units @ 6.00

Estonia NQ: 25 units @ 2.25

Georgia Q: 25 units @ 3.15

Units invested: 100

Units Returned: 40

Predictions %: 1/5 - 20%


Semi-Final 2

Armenia NQ: 20 units @2.50

Austria Q: 20 units @ 3.60

Albania NQ: 80 units @ 1.61


Denmark Q: 20 units @ 1.97

Units invested: 140

Units Returned: 89.4

Predictions %: 2/4 - 50%


Final

Winner W/O Netherlands: Switzerland - 189.4 units @ 3.25

Top-4 Italy: 50 units @ 3.50

Top-4 Switzerland: 100 units @ 1.83


Top-10 Belarus: 20 units @ 12.00

Top Nordic Country: Norway 10 units @ 6.50

To Finish Last: Denmark 10 units @ 51.00

To Finish Last: Czechia 10 units @ 67.0
0

* Sweden finished higher but because of the Belarussian Jury chaos, Norway was ranked 5th for a few days and betting companies have already settled the bets

Units invested: 389.4

Units Returned: 423

Predictions %: 3/7 - 42.9%


2019 Total Units Invested: 629.4

Units Returned: 552.4

Predictions %: 6/16 - 37.5%

ROI: -12.23%


Last year, my book consisted of 1000 units, 200 for each Semi-Final and 600 for the Final. The returned units could be used again in Semi-Final 2 and the Final.

My book looked like this:

Semi-Final 1

Azerbaijan NQ @ 2.84 - 75 units

Belgium Q @ 1.91 - 100 units

Cyprus SF Top-3 Lay @ 3.68 - 20 units

Belgium SF Top-3 @ 14.5 - 5 units

Units invested: 200

Units Returned: 264.6

Predictions %: 2/4 - 50%


Semi-Final 2

Denmark Q - 2.45 - 50 units

Austria Q - 2.085 - 100 units

Czechia Q - 3.00 - 25 units

Portugal NQ - 4.50 - 25 units

Units invested: 200

Units Returned: 0

Predictions %: 0/4 - 0%


Final

Ukraine Top-4 Finish - 1.80 - 191 units

Italy Enhanced Win - 3.10 - 200 units

Ukraine Televote Winner - 3.75 - 100 units

Netherlands to beat Spain - 1.61 - 200 units

Russia Top-10 Finish - 2.75 - 50 units

Israel Last - 10.00 - 25 units

Serbia Top of Region - 3.00 - 25 units

Units invested: 791

Units Returned: 1079.5

Predictions %: 3/7 - 42.9%


2021 Total Units Invested: 1191

Units Returned: 1344.1

Predictions %: 5/15 - 33.3%

ROI: 12.85%


The accumulated totals for the two years are the following


Semi Finals

Total Units Invested: 540

Units Returned: 394

Predictions %:  5/17 - 29.4%

ROI: -27.04%


Finals

Total Units Invested: 1180.4

Units Returned: 1502.5

Predictions %:  6/14 - 42.9 %

ROI: 27.29%


Totals

Total Units Invested: 1720.4

Units Returned: 1896.5

Predictions %:  11/31 - 35.5 %

ROI: 10.24%


The elephant in the room...

It is obvious that my Semi-Final tips are suffering, and the main reason is the long shots that I am after. The market and the punters have evolved. There are still opportunities out there but apart from a few coin tosses, it is rare to find odds over 2.50 for a qualification or non-qualification the day of the Semi-Finals.

The value lies in the rehearsals where punters and market are still trying to figure out the dynamics of the songs and staging

On the other hand, one extra winning bet (Albania '19, Denmark '21 the closest calls) would be enough to break even predicting just 6/17 tips correctly.


The Finals are proving to be more successful securing a 27.3% ROI. I can still see room for improvement though. I have two similar lost bets in consecutive years, which have cost me 289.4 units (2019: Winner W/O Netherlands - Switzerland, 2021: Televote Winner Ukraine). 

Both were overreactions to the momentum that these two countries were gaining because of the charts and the views the day before the Final. 

The silver lining again, is that one more bet (i.e. Ukraine Top-4, lost for 14 points) would have increased ROI from 10.2% to 21.3%.

I must note that the suggested odds in my tips are always for betting companies and not for the exchange market, knowing that the latter is not available everywhere. That means that those of you who bet in the exchange could get better odds and returns.


What happens next? My strategy for 2022

It is time to implement some changes to improve my winning percentage and my ROI. It is difficult to align 100% my personal book, which is open for more than two months with the tips that I give the days of the Semi-Finals and Final. 

My book is healthier, and I want that to be reflected on my tips as well.

I have decided to keep the same number of units for my book as last year and that is 1000. However, I have decided to reduce the units available for each Semi-Final from 200 each to 100. 

That means that the available units for the Final will be 800. 

I will still re-invest units won from Semi-Finals if needed to Semi-Final 2 and Final.

I will try to reduce my tips from 15/16 to 10/12 for the whole season.

Finally, I will introduce the Early Bird tips. That means tipping something before or during the rehearsals for a fraction of my final investment (could be 25 units for Semi-Finals, 50-100 units for the Final). 

To do that, I will create a post with my book, open and updated throughout the season. Every time that a tip is added I will be tweeting it so make sure you follow me on Twitter for the latest updates.

There are only a few days left for the National Finals season to finish. My posts will be more frequent from now on, starting next week with a first look to the Winner's market.