You can find this information on the wizardofodds.
I guess my point is to minimize the Books advantage as much as possible.
A straight bet (-110) has a house edge of 4.54%.
The general formula for the house edge for a random picker is 1-(w+1)/tn, where w is the winning odds on a "to one" basis, and t is the number of teams. For example, if a 3-team parlay pays 6 to 1, then the house edge is 1-(6+1)/23 = 1-(7/8) = 1/8 = 12.5%.
Following is a sample table showing the edge for parlays.
I guess my point is to minimize the Books advantage as much as possible.
A straight bet (-110) has a house edge of 4.54%.
The general formula for the house edge for a random picker is 1-(w+1)/tn, where w is the winning odds on a "to one" basis, and t is the number of teams. For example, if a 3-team parlay pays 6 to 1, then the house edge is 1-(6+1)/23 = 1-(7/8) = 1/8 = 12.5%.
Following is a sample table showing the edge for parlays.
| MGM-Mirage vs. Calculation Parlay Comparison | ||||
| 2 | 2.6 | 2.645 | 10.00% | 8.88% |
| 3 | 6 | 5.958 | 12.50% | 13.03% |
| 4 | 10 | 12.283 | 31.25% | 16.98% |
| 5 | 20 | 24.359 | 34.38% | 20.75% |
| 6 | 40 | 47.413 | 35.94% | 24.36% |
| 7 | 80 | 91.424 | 36.72% | 27.79% |
| 8 | 150 | 175.446 | 41.02% | 31.08% |