--- In vpFREE@yahoogroups.com, James Thompson <jamesgthompson@...> wrote:
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>
> I was confused by this too. You need to win 55% to breakeven since >the vig is 11 to make 10. I'm not a math major in case this is >wrong. fyi.
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It's not quite the way to look at the bet. Imagine the casino has a game of flipping coins. But the players play against each other. So two players post their $11 to win $10 bets, one takes heads, the other takes tails. The casino now has $22 in it's possesion. The player that wins the toss receives back the $11 that he bet plus the $10 that he won. The casino took in $22 but paid back $21. 21 divided by 22 equals 95.45454%. The casino is holding a 4.54545% edge on the total action. I'm ignorant on the subject of sports betting so I know this little example is not even close to the
end of the story....but it is the start. It's a fundamental of sports betting.
If you buy 1000 tickets laying $11 to win $10, your total action will be $11,000 If you cash 524 (52.4%)of the tickets, which you will cash at $21 apiece, your return will be $11,004. A whopping $4 profit.
