Matchbook Vig

Santo · 04-30-07, 10:21 PM

Varies completely market to market.

Newguyintown · 04-30-07, 10:26 PM

Hi Santo

Any way you can get into it? Can we take as examples baseball, and then how a pointspread sport like American basketball (I assume pointspread sports are the same)?

NG

MrX · 04-30-07, 10:55 PM

To adjust for a 2% commission on American odds:

For underdogs multiply by 0.98.
For favorites divide by 0.98.

So, take a -133, +130 moneyline spread (that's pretty typical for Matchbook MLB):

-133 / 0.98 = -135.7
130 * 0.98 = +127.4

slash · 05-01-07, 03:07 AM

Originally posted by Santo

Varies completely market to market.

Yeah, it's 2% on MLB and a completely different 2% on NBA.

sportsfanatic · 05-01-07, 04:15 AM

Originally posted by slash

Yeah, it's 2% on MLB and a completely different 2% on NBA.

I think that he meant the vig varies because of different volume on different markets. Meaning more popular markets have lower vigs because of better offers. He wasn't talking about the math on numbers which is obviously the same across all markets.

slash · 05-01-07, 04:29 AM

You are right sports... I was probably sleepy

Newguyintown · 05-01-07, 04:42 AM

Thanks for the responses.

1) So for moneylines can someone confirm that this is the correct way to do it

"For underdogs multiply by 0.98.
For favorites divide by 0.98.

So, take a -133, +130 moneyline spread (that's pretty typical for Matchbook MLB):

-133 / 0.98 = -135.7
130 * 0.98 = +127.4"

Appreciate your response here. So a tiny 3-cent line after the vig become OVER an 8-cent line....and since Pinny deals an 8-cent line then Pinny will generally be better, yes?

2) Pointspread.....dug a little more in the archives and saw an example and just wanted to verify. Is it as simple as adding 2 cents to the price. For example, -102 becomes -104.....+111 becomes +109?

Really just wanna get this down as it would be somewhat tragic to get misinformation which affects every single bet I make.

Thanks.

NG

Ganchrow · 05-01-07, 05:02 AM

Q: If you place an offer on the Matchbook exchange at a line of L, what would be the equivalent line at a sportsbook?

For L ≤ -100 (-100, -101, -102, etc.),
the sportsbook equivalent line = L / 98%.
For +100 ≤ L <≈ +102.04,
the sportsbook equivalent line = -10,000 / ( L * 98%).
For L >≈ +102.04,
the sportsbook equivalent line = L * 98%.

Examples:

A Matchbook trade at -103 is the sportsbook equivalent of -103*98% = -105.10.
A Matchbook trade at +150 is the sportsbook equivalent of +150*98% = +147.00.
A Matchbook trade at +101 is the sportsbook equivalent of -10,000 / (101 * 98%) = -101.03.

For decimal odds the conversion is a bit more straightforward. A Matchbook trade at decimal odds of D is the sportsbook equivalent of 2% + 98%*D.

Ganchrow · 05-01-07, 06:33 AM

This spreadsheet, utilizing the Excel template I linked to from here, demonstrates the vig calculation for an exchange market.

In the default example on the sheet, we see that given an exchange market of +130/-133 at 2% commission, the vig is 1.527%, corresponding to lines of about +127.4 and -135.7, respectively.

Exchange vig example