1. #1
    Professor1215
    Improve Everyday
    Professor1215's Avatar Become A Pro!
    Join Date: 11-28-11
    Posts: 216
    Betpoints: 3212

    Determining the house edge

    Recently, I was watching a video on youtube by Justin from SBR. In his video, he talks about the house edge.

    In his example, he said that in the specific bet he was talking about the house edge was .75.

    I know the vig is somewhere around 4.55% (depending on the situation).

    What was he talking about in terms of the .75 house edge?

    Hope this is enough info to get my question answered.

    As always, Ill pass some points along for any relevant help.

  2. #2
    FourLengthsClear
    King of the Idiots
    FourLengthsClear's Avatar Become A Pro!
    Join Date: 12-29-10
    Posts: 3,808
    Betpoints: 508

    Was he referring to sports or a casino game?

  3. #3
    Professor1215
    Improve Everyday
    Professor1215's Avatar Become A Pro!
    Join Date: 11-28-11
    Posts: 216
    Betpoints: 3212

    sports

  4. #4
    hutennis
    hutennis's Avatar Become A Pro!
    Join Date: 07-11-10
    Posts: 847
    Betpoints: 3253

    Lets say pinny's CL is -160 +145. (this is less than 20c line that has 4.55% vig but it does not metter for this example)
    No vig line would be -/+151
    You placed a bet at some point before closing at -154. 3c higher than no vig for CL.
    Theoretically, you are paying a house edge of around 0.75%

    I think that's it.

  5. #5
    smoke a bowl
    smoke a bowl's Avatar Become A Pro!
    Join Date: 02-09-09
    Posts: 2,776
    Betpoints: 14472

    Quote Originally Posted by hutennis View Post
    Lets say pinny's CL is -160 +145. (this is less than 20c line that has 4.55% vig but it does not metter for this example)
    No vig line would be -/+151
    You placed a bet at some point before closing at -154. 3c higher than no vig for CL.
    Theoretically, you are paying a house edge of around 0.75%

    I think that's it.
    How often do people question that that the no vig line in this example is not -151 (obviously it is) and try to convince you that it is actually -152.5?

  6. #6
    hutennis
    hutennis's Avatar Become A Pro!
    Join Date: 07-11-10
    Posts: 847
    Betpoints: 3253

    Honestly, in general, I don't know if it is truly -151.

    151 is correctly derived from -160+145 mathematically, but whether it is true no vig market price or not is a big question.
    One has to make some assumptions to subscribe to that.

    But that is whole other story which is not a part of OP.

    To answer OP we have to assume that 151 is true no vig and therefore -154 would be about .75% more expensive, aka house edge of 0.75%

  7. #7
    smoke a bowl
    smoke a bowl's Avatar Become A Pro!
    Join Date: 02-09-09
    Posts: 2,776
    Betpoints: 14472

    Quote Originally Posted by hutennis View Post
    Honestly, in general, I don't know if it is truly -151.

    151 is correctly derived from -160+145 mathematically, but whether it is true no vig market price or not is a big question.
    One has to make some assumptions to subscribe to that.

    But that is whole other story which is not a part of OP.

    To answer OP we have to assume that 151 is true no vig and therefore -154 would be about .75% more expensive, aka house edge of 0.75%
    Absolutely, that's all I was referring to.

  8. #8
    Professor1215
    Improve Everyday
    Professor1215's Avatar Become A Pro!
    Join Date: 11-28-11
    Posts: 216
    Betpoints: 3212

    Thanks for the info gentlemen

Top