Hey,
I'm very new to betting and have some basic questions. Basically, I've read through a lot of the posts on here and even started reading Weighing The odds. And while I'm learning things in isolation I'm having trouble putting it all together.
I'm looking at the Rangers/Yankees tonight on Bodog.
Rangers +1.5(-135), +153
Yankees -1.5(+115), -168
O/u is 10(-110)
For reference, Pinnacle has the lines at
Rangers +1.5(-132), +152
Yankees -1.5(+122), -162
O/u 10 (-108, -102)
So applying the bit of info I've learned I can conclude that, using Bodogs RL numbers:
135/235=57.4%
100/215=46.5%
To find the no vig lines I add the two totals together and then divide each percentage by the new total, is that correct?
57.4+46.5= 103.9%
57.4/103.9=55.2%
46.5/103.9=44.7%
Converting 55.2% to a moneyline would be .552/(1-.552)(-100)= -123
Converting 44.7% to a moneyline would be (1-.447)/.447 (100)= +123
So this means that the no vig line should be +/- 123? This is one of the things that is confusing me. What is the importance of the +/- 123. Can someone help me out with this? Also, what should I be able to conclude comparing Bodog's line with Pinnacles line?
Thanks for any help.