Occasionally I read news articles that mention about some computer models that computer scientists use to predict winners of some sporting events or the odds for betting which I think there must be a mathematical model behind it. I never bothered to think twice even though I am a "pseudo computer scientist" myself. With the 2010 FIFA World Cup just underway, and since I am also a "pseudo football/soccer player" myself, I just started to wonder about these calculations algorithms.

For example, I know one factor is determining the strength of opponents, so that a win against a strong opponent can count more than a win against a weak opponent. But it now kind of gets in a circular loop, or at least how does one determine the strength of a team in the first place, before that team can be considered strong or weak? If it's based on a historical data then there's no way that could be accurate, because those players of the past are no longer on the fields so their impact is none (except maybe if they become coaches like Maradona)

Anyway, long question short, if you're happen to be working in this field or have some knowledge, please shed some lights.