I am trying to find the Mathematical formula called Percent Market based on
theoretical hold
click on the multi wager contest calculator on the right
This calculator can answer these questions and more. It will tell you exactly
what percentage of the bettors' money a bookmaker expects to keep when he sets
his prices.
We call it Multi-Way because it handles not only two-way betting prices (as
in Team A vs Team B), but prices for events with as many as 50 betting options
(as in picking which golfer out of 50 will win a tournament).
It's also Multi-Way because you can use any of the three standard price
formats: American Moneylines; European Decimals, or Odds-Style. Select a type
below, then follow the instructions in the next screen.
Example
it will allow you to enter the odds as either money line or odds or point
system
if you entered the following money lines
team a –120
team b +120
Team c –110
Percent Market: 152.38% what is the formula for it ?
theoretical hold
click on the multi wager contest calculator on the right
This calculator can answer these questions and more. It will tell you exactly
what percentage of the bettors' money a bookmaker expects to keep when he sets
his prices.
We call it Multi-Way because it handles not only two-way betting prices (as
in Team A vs Team B), but prices for events with as many as 50 betting options
(as in picking which golfer out of 50 will win a tournament).
It's also Multi-Way because you can use any of the three standard price
formats: American Moneylines; European Decimals, or Odds-Style. Select a type
below, then follow the instructions in the next screen.
Example
it will allow you to enter the odds as either money line or odds or point
system
if you entered the following money lines
team a –120
team b +120
Team c –110
Percent Market: 152.38% what is the formula for it ?
