2016 Vegas odds re-visited

Originally posted by JBrack:

Originally posted by 49AllTheTime:
where ever you are gambling it at, you are getting ripped off

I use a bookie and place bets through a website. Its very standard.

Bovada doesn't charge me anything extra. Casinos don't charge anything extra

maybe you need a new bookie because he's ripping you off

Originally posted by 49AllTheTime:

Bovada doesn't charge me anything extra. Casinos don't charge anything extra

maybe you need a new bookie because he's ripping you off

Im not paying extra its the juice. (-110) on a over/under bet is the vig.

Originally posted by JBrack:

Originally posted by SteveWallacesHelmet:

Originally posted by JBrack:

Originally posted by ChazBoner:
oh my bad. for some reason, I read it as "2016 predictions revisited"

Are odds not predictions?

They actually arent. Not even close.

Chaz you have every reason to have been confused. The thread title is about odds (for what, we werent told), and then the body of the post is about over/unders on team wins......and the odds were completely left off of the post. LOL

Originally posted by SteveWallacesHelmet:

Originally posted by JBrack:

Originally posted by ChazBoner:
oh my bad. for some reason, I read it as "2016 predictions revisited"

Are odds not predictions?

They actually arent. Not even close.

Chaz you have every reason to have been confused. The thread title is about odds (for what, we werent told), and then the body of the post is about over/unders on team wins......and the odds were completely left off of the post. LOL

Definition of odds
1
a archaic : inequalities
b obsolete : degree of unlikeness
2
a : an amount by which one thing exceeds or falls short of another won the election by considerable odds
b (1) : a difference favoring one of two opposed things

In this case it would be over or under the total wins.

Im sorry I didn't post directions on a very simple and easy to read spread. It says what it is at the heading of the post. Sorry you got confused

This is great.

Simply saying an NFL team will or will not win more than 5 games or lose more than 5 games are not odds.
It's a straight up guess without any further provided information otherwise knows as the "odds"

The key word that you have in bold up there is "favoring"

Me saying the Tigers will beat the Red sox today are not odds. It's a straight pick of one team beating another. The odds of that happening are unknown. Without other information like the "odds"

btw Boston is favored today -105 those are your odds bet accordingly.

Originally posted by JBrack:

Originally posted by 49AllTheTime:
Bovada doesn't charge me anything extra. Casinos don't charge anything extra

maybe you need a new bookie because he's ripping you off

Im not paying extra its the juice. (-110) on a over/under bet is the vig.

That is the Odds.

and if you're betting 100 and getting charged for 110 when you lose. you are getting ripped off

Originally posted by 49AllTheTime:

That is the Odds.

and if you're betting 100 and getting charged for 110 when you lose. you are getting ripped off

Wrong that is the vig...

Over Under odds, or 'totals' betting, is growing in popularity and is often the best wager you can make on a game. Let's face it – some games are a toss-up and you really can't find an edge to pick one team over the other; that's where totals betting can come in.

BETTING TOTALS

Maybe there are defensive trends or offensive injuries or looming cold or windy weather that makes you think there will be a lot of scoring or not very much scoring in a particular game.

Let's take a Colts-Patriots game where you see the point spread listed and also another value, 55.5, listed. This is the total. You bet whether the total points scored by both teams will be more than or less than 55.5. In a 40-14 example, the score equals 54 points which is UNDER 55.5. In a 40-17 example, the score equals 57 which is OVER 55.5.

You may also see a small wrinkle in the total where it looks like this:

55.5 o -110
55.5 u +105

In this instance, the total remains at 55.5, but the amount of 'juice' or 'vig' you must risk is different. To wager the OVER value, you have to risk $110 to win $100. To wager the UNDER value, you get to risk $100 for the chance to win $105.

https://sports.bodog.eu/basketball/nba/game-lines-market-group

Under the game totals are the vig. Not odds!


Vigorish, or simply the vig, also known as juice, under-juice, the cut or the take, is the amount charged by a bookmaker, or bookie, for taking a bet from a gambler. In the United States, it also means the interest on a shark's loan. The term originates from the Russian word for winnings, выигрыш vyigrysh.[1]

Bookmakers use this practice to make money on their wagers regardless of the outcome. To minimize their risk, some bookmakers do not want to have an interest in any side winning in a given sporting event. Instead, they are interested in getting equal betting on all outcomes of the event. In this way, the bookmaker minimizes his risk and always collects a small commission from the vigorish. For this purpose, the bookmaker will normally adjust the odds or the line.

The concept is also sometimes referred to as the overround, although this is technically different, being the percentage the event book is above 100%, whereas the vigorish is the bookmaker's percentage profit on the total stakes made on the event. For example, 20% overround is vigorish of 16 2⁄3%. The connecting formulae are {displaystyle v={frac {o}{(1+o)}}} v={frac {o}{(1+o)}} and {displaystyle o={frac {v}{(1-v)}}} o={frac {v}{(1-v)}} where o is the overround.

It is simplest to assume that vigorish is factored in proportionally to the true odds, although this need not be the case. Under proportional vigorish, a moneyline odds bet listed at −100 vs. +100 without vigorish (fair odds) could become −105 vs. +105. Under disproportional vigorish, it could become −110 vs. +100. A fairly common amount of vig is ~2%. [2]

49ATT.....I was with you at first, but now you arent correct anymore.

Betting 110 to win 100 is standard. Vegas does it. Bookies do it. That is standard. Doesnt mean that OP is right at all, because he isnt. But you are certainly wrong in this aspect.

Originally posted by SteveWallacesHelmet:
49ATT.....I was with you at first, but now you arent correct anymore.

Betting 110 to win 100 is standard. Vegas does it. Bookies do it. That is standard. Doesnt mean that OP is right at all, because he isnt. But you are certainly wrong in this aspect.

if i bet on a -110 line with a 100. i don't need to fork over an extra 10 when i lose. that is not standard

Originally posted by 49AllTheTime:

if i bet on a -110 line with a 100. i don't need to fork over an extra 10 when i lose. that is not standard

No they wont charge you more why would they? You just wont win $100. You have to bet $110 to win a hundred. You would win like $92 or so.

Originally posted by JBrack:

Originally posted by 49AllTheTime:
if i bet on a -110 line with a 100. i don't need to fork over an extra 10 when i lose. that is not standard

No they wont charge you more why would they? You just wont win $100. You have to bet $110 to win a hundred. You would win like $92 or so.

Thats what you have been saying (juice/vig) which is the commission a bookie charges.

Originally posted by 49AllTheTime:

Thats what you have been saying (juice/vig) which is the commission a bookie charges.

Yes exactly. Its not odds...

Originally posted by JBrack:

Originally posted by 49AllTheTime:
Thats what you have been saying (juice/vig) which is the commission a bookie charges.

Yes exactly. Its not odds...

im saying you are getting ripped by that commission charge

what if the line was -1400 ?

Originally posted by 49AllTheTime:

im saying you are getting ripped by that commission charge

what if the line was -1400 ?

Thats pretty standard on all handicapped bets though. Not much you can do about it.

If its minus -1400 then it isn't worth it unless you have deep pockets.

wow lol I give up

Originally posted by SoCold:
wow lol I give up

I tried to give up too, but I just have no self restraint when I see people posting factually incorrect information.

Gonna try again though.