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Well, look at it this way. Assume a 2 team division, both teams evenly matched. At the start of the season, with 162 games to play, the odds for either would be 50%, right? Now, with only 28 games left, one of them has a 2 game lead. Their odds have to be a heck of a lot higher than 50%, no?
Or look at it this way. If the Braves play out the string at their current win%, they will win 94 games. For the Phillies to win 95 games, they would have to win at a .678 win%. What are the odds of a .567 team winning 68% of their next 28 games?
I agree with this. It seems to me that the odds swing a bit more forcefully over the course of the year than they should. I'd be curious to see how accurate they have been over the years.
Could be interesting not only to test for accuracy but also to put some parameters around its errors - would be interesting if, for example, certain types of teams or certain types of playoff races yielded unusually low hit rates.
Perception bias. We only notice the odds when they do swing. NYY and TB have 99% chances and will sail in without any fuss. There are 99 of those types of situations for every 2007 Mets. We only notice the outlier. We don't notice the races that aren't newsworthy.
That said, it wouldn't be surprising if September games are a bit more swingy than formulas would predict. The formulas don't know when an also-ran will give up and just start playing September callup kids, or when a pennant leader might lose key players to injury. But I'd bet this effect is small, maybe two wins over a month.
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