I wasn't sure what forum to post this on since I searched the entire site and couldn't find a related subject. I guess the Newbie Forum is the most fitting.
I've been doing reverse bets against the spread since I can remember so I know the risk and payout, etc. I'm going to make the assumption you guys understand how they work as well. My question is how does it work when you have two games picked on money line?
This is an example of a bet placed with it's outcome:
(WAGERING 100) RISK 1000 to WIN 400; OUTCOME -1000
Nevada (NCAA) -550 LOSE
Phoenix (NBA) -600 WIN
In contrast, if I did it against the spread it would be as follows (for the sake of the example, let's act as if Phoenix did cover the 10 points against Charlotte):
(WAGERING 100) RISK 220 to WIN 400; OUTCOME -120
Nevada -10 LOSE
Phoenix -10 WIN
The confusion comes in the posted outcome amount. It says the maximum risk is 1000 yet although I won half the reverse and lost the other half, I'm still losing the maximum amount. If you do the math: I'm risking 550 to win 100 on Nevada's side, add the 20% cut and it's 660. If I were to lose both sides of the bet it would simply combine 550 with 600 plus the 20% cut totaling at a max risk of 1380, not 1000.
So I should have lost just 660, not 1000, correct? If anyone has any insights it would be greatly appreciated.
I've been doing reverse bets against the spread since I can remember so I know the risk and payout, etc. I'm going to make the assumption you guys understand how they work as well. My question is how does it work when you have two games picked on money line?
This is an example of a bet placed with it's outcome:
(WAGERING 100) RISK 1000 to WIN 400; OUTCOME -1000
Nevada (NCAA) -550 LOSE
Phoenix (NBA) -600 WIN
In contrast, if I did it against the spread it would be as follows (for the sake of the example, let's act as if Phoenix did cover the 10 points against Charlotte):
(WAGERING 100) RISK 220 to WIN 400; OUTCOME -120
Nevada -10 LOSE
Phoenix -10 WIN
The confusion comes in the posted outcome amount. It says the maximum risk is 1000 yet although I won half the reverse and lost the other half, I'm still losing the maximum amount. If you do the math: I'm risking 550 to win 100 on Nevada's side, add the 20% cut and it's 660. If I were to lose both sides of the bet it would simply combine 550 with 600 plus the 20% cut totaling at a max risk of 1380, not 1000.
So I should have lost just 660, not 1000, correct? If anyone has any insights it would be greatly appreciated.