As you might have noticed, our playoff odds and projected standings are now up and running for the 2015 season. If you’re a regular FanGraphs reader, or intend to be this year, you’re going to see a decent amount about the various numerical expectations we post on the site. While these odds and standings are a lot of fun and a great tool for taking stock of the league, it’s also pretty easy to misunderstand or use them improperly.
Before I run through the proper way to read the odds and standings, I want to provide a brief overview of how we arrive at the numbers you see on the site.
Our player projections are based on the FanGraphs Depth Charts which are generated by giving equal weight to Steamer and ZiPS (two projection systems) and then manually estimating playing time. Then based on the depth charts, we simulate the season 10,000 times and report the results as playoff odds and projected standings. We also host a Season to Date model and Coin Flip model which project the season based on the current year’s stats (instead of projections) or a 50/50 chance at winning each game, respectively.