1. #1
    AgainstAllOdds
    From the Villas to world #1
    AgainstAllOdds's Avatar Become A Pro!
    Join Date: 02-24-08
    Posts: 6,053

    How to calculate vig at matchbook?

    I was just wondering how to go about doing this. I know they charge a 1% commision on bases and 2% on almost everything else, but there still has to be vig(even if not intented by the person offering the bet). How would one go about finding this?

    Would you find the no vig price then add the 1% commision?

  2. #2
    MrX
    MrX's Avatar Become A Pro!
    Join Date: 01-10-06
    Posts: 1,540

    Quote Originally Posted by AgainstAllOdds View Post
    I was just wondering how to go about doing this. I know they charge a 1% commision on bases and 2% on almost everything else, but there still has to be vig(even if not intented by the person offering the bet). How would one go about finding this?

    Would you find the no vig price then add the 1% commision?
    In the case of an underdog, multiply the available odds by (100%-commission%). For a fav, divide by (100%-commission%).

    So, a MLB lineset of -150, +149 is the equivalent of -150/.99 and 149*.99, which is equal to a -151.515, +147.51 lineset.

    For 2% commission use .98 instead of .99.

  3. #3
    Ganchrow
    Nolite te bastardes carborundorum.
    Ganchrow's Avatar Become A Pro!
    Join Date: 08-28-05
    Posts: 5,011
    Betpoints: 1088

    Not surprisingly, Mr. X is right on point.

    You might also wnat to check out this post which links to another post on factoring in exchange commission.

  4. #4
    Jacey
    Jacey's Avatar Become A Pro!
    Join Date: 07-03-08
    Posts: 464
    Betpoints: 90

    I made a spreadsheet for matchbook, I can send if anyone is int

    Not using matchbook myself, since I play MLB action, but can't wait to use it for foots

  5. #5
    Ganchrow
    Nolite te bastardes carborundorum.
    Ganchrow's Avatar Become A Pro!
    Join Date: 08-28-05
    Posts: 5,011
    Betpoints: 1088

    You can also find these functions (among many others) in my http://www.sportsbookreview.com/forum/handicappe...ate-excel.html.

    Of particular interest to the OP would probably be the =E2S(US exchange odds, exchange commission {default = 1%} ), which calculates sportsbook equivalent US odds given US exchange odds and commission, and =ExchUS2Hold(range of US Odds, Commission) which calculates theoretical hold given a range of exchange odds and commission.

  6. #6
    AgainstAllOdds
    From the Villas to world #1
    AgainstAllOdds's Avatar Become A Pro!
    Join Date: 02-24-08
    Posts: 6,053

    ...wow...the material and help here are amazing. Thank you Mr. X and Ganch for the helpful info!

  7. #7
    reno cool
    the meaning of harm
    reno cool's Avatar Become A Pro!
    Join Date: 07-02-08
    Posts: 3,567

    Mr. X is lost somewhere in the mountains of California, I believe.

Top