Nov 5, 2012 -- 10:54AM, Srichaphan or Ancic? wrote:

I can use the stats to combine the home and away team's %s, calculate what the odds should be according to historical stats, compare them to what is on the markets, and then determine the variance. How I determine the stake, Im not yet sure.

I want to post this without sounding negative, but what do you hope to achieve from doing this? Professional odds compilers do the same thing, but in a more sophisticated manner, using advanced software. It is extremely difficult to find an edge, just by looking at these basic stats, and as someone already posted, a lot of the stats you will be looking at are irrelevant.
It requires a much more rigourous approach, creating supremacy ratings based on bivariate models etc etc. I don't wish to discourage you, but just think about your end goal. If it is just for a bit of fun then great, but if you intend to profit long-term, you need a different strategy. Best of luck