Determining the house edge

[Professor1215]

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.

[FourLengthsClear]

Was he referring to sports or a casino game?

[Professor1215]

sports

[hutennis]

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.

[smoke a bowl]

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?

[hutennis]

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%

[smoke a bowl]

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.

[Professor1215]

Thanks for the info gentlemen