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how do i explain to someone that -120 on both sides of a total is a 40 cent line????
Where the F@@K is there a 40cent line on totals? egads!
yes 5o-120/5u-120 is a 40cent line. but from a bettors point of view if he is laying -120 he doesn't give flake about what the other side is doing. The only thing that might make him care is a line movement to 5o-140/5u+100. then when he considers both sides he might understand he has a 40cent line.
incidently, i've seen some dime books post MLB pick 'ems at -110 for BOTH sides, then not move the line at all when everyone else has gone nyy-115/TOR+105.
Explain that the total cents line is the total of the "minuses" or the "minuses" plus the "pluses". So -20 -20 =-40 or a 40 cent line.
Incidentally, the hold on this bet (which is more important to most sportsbooks and bettors) is 9%. This is calculated by dividing 1 by the dividend on each side plus 1. So 100/120 =.83333 and 1 divided by 1.8333=0.545. Doubling this equals 1.09 or a 9% hold. That is very high. On a standard 30 cent line, the hold is about 7% and on a 20 cent line, the hold is about 4.8% which is similar to the hold on a pass line bet in craps.
I think with a 40 cent line they don't have to move as quickly with the action as somebody posting an 8 cent or dime line. They certainly don't need anywhere near equal action on both sides to make a nice profit.
Only thing that can be said is quit using the "locals"
Hartley,
Where the heck have you been playing craps at man? The hold on a pass line bet is approx. 1.4%, which is no where near the 4.55% of a "20 cent line" bet! It's tough enough to win at craps with this vig. 4.8% would make it virtually IMPOSSIBLE to ever win - even in the short term.
The most common definitions of -120 each way are that it is a 40 cent line, 20 cent juice, and 8.33% vigorish. But many bettors and bookies seem to "creatively" get these terms all mixed up and bassackwards, as well as the %'s behind them ( like saying it is 20% VIG instead of 8.33% in this case ). The odds/values of these terms do vary some when you go off of the pickem -120 lines, like to -150/+110 say, so hold %, or vig, becomes a better measurement at that point. I kind of think CANBET's approach of maintianing the same hold%/vig% up the escalation off pickem is the real "fair" way to treat moneylines! Outs that keep the "difference" 10 cents to -190 are preferable because their hold % goes down the whole way up until they go to 15 or 20 cent lines at their "break".
Could someone please do the math using -220 + 190. I know the formula and have a chart but my % do not come up the same as the chart. WTF am I doing wrong? Its easy when both sides are minus its the plus that I'm doing wrong.
Or at least you have a different definition of the theoretical percentage hold.
The usual meaning of the theoretical percentage hold is the percentage of the amount of money that a book "holds" from the amount of money ACCEPTED.
In you example 3.2% is the percentage of money that a book "holds" from the amount of money that it PAYS OUT.
In your example if a books accepts (1/1.455) @1.455 and (1/2.9) @2.9, it pays out 1 regardless the outcome. And 0.032 is 3.2% of 1, not of the amount of money accepted.
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