vpFREE2 Forums

Off Topic -- Sports Betting Question

#1

I haven't done much of this, but thought I might place a bet or two
on a "sentimental favorite" in NCAA Men's Tourney.

At two local Casino Sportsbooks, appears that I am required to bet
$11 to win $10, on pointspread-adjusted, single-game, bets.

This appears to be a "pretty strong" house advantage; somewhere
around 5%. I'd have expected that competition would result in a
somewhat-lower value; on the order of 26-to-25, or similar.

Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
where higher-dollar wagers are involved?

#2

11/10 which is 10% vig, is, unfortunately, standard in Vegas.

···

----- Original Message -----
  From: sphboc2003
  To: vpFREE@yahoogroups.com
  Sent: Saturday, March 19, 2005 6:03 PM
  Subject: [vpFREE] Off Topic -- Sports Betting Question

  I haven't done much of this, but thought I might place a bet or two
  on a "sentimental favorite" in NCAA Men's Tourney.

  At two local Casino Sportsbooks, appears that I am required to bet
  $11 to win $10, on pointspread-adjusted, single-game, bets.

  This appears to be a "pretty strong" house advantage; somewhere
  around 5%. I'd have expected that competition would result in a
  somewhat-lower value; on the order of 26-to-25, or similar.

  Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
  where higher-dollar wagers are involved?

  vpFREE Links: http://members.cox.net/vpfree/Links.htm

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#3

Sometimes, sportsbooks will run promo's offering 105/100 deals.

--- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
wrote:

···

11/10 which is 10% vig, is, unfortunately, standard in Vegas.

#4

If you bet both sides of a game you pay $11 times 2 = $22. You will
win one side and get your $11 back plus win $10 more...so you got
back $21 but put in $22. They keep $1 out of $22 which is 4.5%

Maybe vig and House Edge are slightly different but I think of them
as the same thing - it's what % the house keeps.

--- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
wrote:

11/10 which is 10% vig, is, unfortunately, standard in Vegas.
  From: sphboc2003
  To: vpFREE@yahoogroups.com
  Sent: Saturday, March 19, 2005 6:03 PM
  Subject: [vpFREE] Off Topic -- Sports Betting Question

  I haven't done much of this, but thought I might place a bet or

two

  on a "sentimental favorite" in NCAA Men's Tourney.

  At two local Casino Sportsbooks, appears that I am required to

bet

···

  ----- Original Message -----
  $11 to win $10, on pointspread-adjusted, single-game, bets.

  This appears to be a "pretty strong" house advantage; somewhere
  around 5%. I'd have expected that competition would result in a
  somewhat-lower value; on the order of 26-to-25, or similar.

  Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
  where higher-dollar wagers are involved?

  vpFREE Links: http://members.cox.net/vpfree/Links.htm

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#5

Why would you bet both sides and guarantee a loss?

···

----- Original Message -----
  From: bedioyscans2000
  To: vpFREE@yahoogroups.com
  Sent: Monday, March 21, 2005 6:38 PM
  Subject: [vpFREE] I think 11 to 10 is 4.5% vig here's why

  If you bet both sides of a game you pay $11 times 2 = $22. You will
  win one side and get your $11 back plus win $10 more...so you got
  back $21 but put in $22. They keep $1 out of $22 which is 4.5%

  Maybe vig and House Edge are slightly different but I think of them
  as the same thing - it's what % the house keeps.

  --- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
  wrote:
  > 11/10 which is 10% vig, is, unfortunately, standard in Vegas.
  > ----- Original Message -----
  > From: sphboc2003
  > To: vpFREE@yahoogroups.com
  > Sent: Saturday, March 19, 2005 6:03 PM
  > Subject: [vpFREE] Off Topic -- Sports Betting Question
  >
  >
  >
  > I haven't done much of this, but thought I might place a bet or
  two
  > on a "sentimental favorite" in NCAA Men's Tourney.
  >
  > At two local Casino Sportsbooks, appears that I am required to
  bet
  > $11 to win $10, on pointspread-adjusted, single-game, bets.
  >
  > This appears to be a "pretty strong" house advantage; somewhere
  > around 5%. I'd have expected that competition would result in a
  > somewhat-lower value; on the order of 26-to-25, or similar.
  >
  > Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
  > where higher-dollar wagers are involved?
  >
  >
  >
  >
  >
  >
  >
  >
  > vpFREE Links: http://members.cox.net/vpfree/Links.htm
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#6

I think I misunderstood your point, but what the house keeps should not concern you, it's the 10 per cent that you have to give the house on every bet. Incidentally, El Cortez advertised today, that you have to lay only 5% on the NCAA tournament, Sweet 16 thru finals.

···

----- Original Message -----
  From: bedioyscans2000
  To: vpFREE@yahoogroups.com
  Sent: Monday, March 21, 2005 6:38 PM
  Subject: [vpFREE] I think 11 to 10 is 4.5% vig here's why

  If you bet both sides of a game you pay $11 times 2 = $22. You will
  win one side and get your $11 back plus win $10 more...so you got
  back $21 but put in $22. They keep $1 out of $22 which is 4.5%

  Maybe vig and House Edge are slightly different but I think of them
  as the same thing - it's what % the house keeps.

  --- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
  wrote:
  > 11/10 which is 10% vig, is, unfortunately, standard in Vegas.
  > ----- Original Message -----
  > From: sphboc2003
  > To: vpFREE@yahoogroups.com
  > Sent: Saturday, March 19, 2005 6:03 PM
  > Subject: [vpFREE] Off Topic -- Sports Betting Question
  >
  >
  >
  > I haven't done much of this, but thought I might place a bet or
  two
  > on a "sentimental favorite" in NCAA Men's Tourney.
  >
  > At two local Casino Sportsbooks, appears that I am required to
  bet
  > $11 to win $10, on pointspread-adjusted, single-game, bets.
  >
  > This appears to be a "pretty strong" house advantage; somewhere
  > around 5%. I'd have expected that competition would result in a
  > somewhat-lower value; on the order of 26-to-25, or similar.
  >
  > Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
  > where higher-dollar wagers are involved?
  >
  >
  >
  >
  >
  >
  >
  >
  > vpFREE Links: http://members.cox.net/vpfree/Links.htm
  >
  >
  >
  >
  > Yahoo! Groups Sponsor
  > ADVERTISEMENT
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#7

--- In vpFREE@yahoogroups.com, "bedioyscans2000"
<bedioyscans2000@y...> wrote:

If you bet both sides of a game you pay $11 times 2 = $22. You

will

win one side and get your $11 back plus win $10 more...so you got
back $21 but put in $22. They keep $1 out of $22 which is 4.5%

Maybe vig and House Edge are slightly different but I think of

them

as the same thing - it's what % the house keeps.

The reson the Vig and House edge are not the same is:
You can not beat any table game with a house edge over the long term.

However,the point spread is an opinion---if your opinion is better
then the line makers opinion approx.55% of the time, you can be a
winner betting sports.

--- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
wrote:
> 11/10 which is 10% vig, is, unfortunately, standard in Vegas.
> From: sphboc2003
> To: vpFREE@yahoogroups.com
> Sent: Saturday, March 19, 2005 6:03 PM
> Subject: [vpFREE] Off Topic -- Sports Betting Question
>
>
>
> I haven't done much of this, but thought I might place a bet

or

two
> on a "sentimental favorite" in NCAA Men's Tourney.
>
> At two local Casino Sportsbooks, appears that I am required to
bet
> $11 to win $10, on pointspread-adjusted, single-game, bets.
>
> This appears to be a "pretty strong" house advantage;

somewhere

> around 5%. I'd have expected that competition would result in

a

> somewhat-lower value; on the order of 26-to-25, or similar.
>
> Is the 11-to-10 ratio "typical" in the Las Vegas area;

especially

···

> ----- Original Message -----
> where higher-dollar wagers are involved?
>
>
>
>
>
>
>
>
> vpFREE Links: http://members.cox.net/vpfree/Links.htm
>
>
>
>
> Yahoo! Groups Sponsor
> ADVERTISEMENT
>
>
>
>
>
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#8
#9

By betting at 2 different sports books who have different lines or spreads. It's called middling,with a chance to win both bets.

···

----- Original Message -----
  From: Richard Gordon
  To: vpFREE@yahoogroups.com
  Sent: Monday, March 21, 2005 6:48 PM
  Subject: Re: [vpFREE] I think 11 to 10 is 4.5% vig here's why

  Why would you bet both sides and guarantee a loss?
    ----- Original Message -----
    From: bedioyscans2000
    To: vpFREE@yahoogroups.com
    Sent: Monday, March 21, 2005 6:38 PM
    Subject: [vpFREE] I think 11 to 10 is 4.5% vig here's why

    If you bet both sides of a game you pay $11 times 2 = $22. You will
    win one side and get your $11 back plus win $10 more...so you got
    back $21 but put in $22. They keep $1 out of $22 which is 4.5%

    Maybe vig and House Edge are slightly different but I think of them
    as the same thing - it's what % the house keeps.

    --- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
    wrote:
    > 11/10 which is 10% vig, is, unfortunately, standard in Vegas.
    > ----- Original Message -----
    > From: sphboc2003
    > To: vpFREE@yahoogroups.com
    > Sent: Saturday, March 19, 2005 6:03 PM
    > Subject: [vpFREE] Off Topic -- Sports Betting Question
    >
    >
    >
    > I haven't done much of this, but thought I might place a bet or
    two
    > on a "sentimental favorite" in NCAA Men's Tourney.
    >
    > At two local Casino Sportsbooks, appears that I am required to
    bet
    > $11 to win $10, on pointspread-adjusted, single-game, bets.
    >
    > This appears to be a "pretty strong" house advantage; somewhere
    > around 5%. I'd have expected that competition would result in a
    > somewhat-lower value; on the order of 26-to-25, or similar.
    >
    > Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
    > where higher-dollar wagers are involved?
    >
    >
    >
    >
    >
    >
    >
    >
    > vpFREE Links: http://members.cox.net/vpfree/Links.htm
    >
    >
    >
    >
    > Yahoo! Groups Sponsor
    > ADVERTISEMENT
    >
    >
    >
    >
    >
    > --------------------------------------------------------------------
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#10

--- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
wrote:

Why would you bet both sides and guarantee a loss?
  
If you want to cancel your bet and are not allowed, and the line

is still the same, you bet the other side and lose the
vig. Jack P

···

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#11

You're correct about middling of course. I do it myself, but didn't realize we were getting into a sophisticated discussion. I'll be more careful in the future.

···

----- Original Message -----
  From: seussman
  To: vpFREE@yahoogroups.com
  Sent: Monday, March 21, 2005 8:24 PM
  Subject: Re: [vpFREE] I think 11 to 10 is 4.5% vig here's why

  By betting at 2 different sports books who have different lines or spreads. It's called middling,with a chance to win both bets.
    ----- Original Message -----
    From: Richard Gordon
    To: vpFREE@yahoogroups.com
    Sent: Monday, March 21, 2005 6:48 PM
    Subject: Re: [vpFREE] I think 11 to 10 is 4.5% vig here's why

    Why would you bet both sides and guarantee a loss?
      ----- Original Message -----
      From: bedioyscans2000
      To: vpFREE@yahoogroups.com
      Sent: Monday, March 21, 2005 6:38 PM
      Subject: [vpFREE] I think 11 to 10 is 4.5% vig here's why

      If you bet both sides of a game you pay $11 times 2 = $22. You will
      win one side and get your $11 back plus win $10 more...so you got
      back $21 but put in $22. They keep $1 out of $22 which is 4.5%

      Maybe vig and House Edge are slightly different but I think of them
      as the same thing - it's what % the house keeps.

      --- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
      wrote:
      > 11/10 which is 10% vig, is, unfortunately, standard in Vegas.
      > ----- Original Message -----
      > From: sphboc2003
      > To: vpFREE@yahoogroups.com
      > Sent: Saturday, March 19, 2005 6:03 PM
      > Subject: [vpFREE] Off Topic -- Sports Betting Question
      >
      >
      >
      > I haven't done much of this, but thought I might place a bet or
      two
      > on a "sentimental favorite" in NCAA Men's Tourney.
      >
      > At two local Casino Sportsbooks, appears that I am required to
      bet
      > $11 to win $10, on pointspread-adjusted, single-game, bets.
      >
      > This appears to be a "pretty strong" house advantage; somewhere
      > around 5%. I'd have expected that competition would result in a
      > somewhat-lower value; on the order of 26-to-25, or similar.
      >
      > Is the 11-to-10 ratio "typical" in the Las Vegas area; especially
      > where higher-dollar wagers are involved?
      >
      >
      >
      >
      >
      >
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#12

You are not giving the house 10%...you are giving them slightly more
than 9% of your bet -- 1/11. You can place a bet for $10...of this,
the vig is a touch over 90 cents.

The vig on a standard sports bet is ~9%...while the house edge is
~4.5% since you will win (and get back your vig along with your bet
and your winnings) about 50% of the time if you bet randomly.

Ken

--- In vpFREE@yahoogroups.com, "Richard Gordon" <theolflash@c...>
wrote:

I think I misunderstood your point, but what the house keeps should

not concern you, it's the 10 per cent that you have to give the house
on every bet. Incidentally, El Cortez advertised today, that you have
to lay only 5% on the NCAA tournament, Sweet 16 thru finals.

#13

--- In vpFREE@yahoogroups.com, "bedioyscans2000"
<bedioyscans2000@y...> wrote:

If you bet both sides of a game you pay $11 times 2 = $22. You will
win one side and get your $11 back plus win $10 more...so you got
back $21 but put in $22. They keep $1 out of $22 which is 4.5%

I think you dont get your $11 back, you get the 10 you won & 10 of
your bet, the vig is the $1
M J

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···

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#14

--- In vpFREE@yahoogroups.com, "bedioyscans2000"
<bedioyscans2000@y...> wrote:
>
> If you bet both sides of a game you pay $11 times 2 = $22. You

will

> win one side and get your $11 back plus win $10 more...so you

got

> back $21 but put in $22. They keep $1 out of $22 which is 4.5%
>

I think you dont get your $11 back, you get the 10 you won & 10 of
your bet, the vig is the $1

That is not true---if you bet $11 and win --you get back $21--trust
me I work in a Sports Book

···

--- In vpFREE@yahoogroups.com, "mklpryy24" <mklpryy24@y...> wrote:

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