1. #1
    Chipup
    Chipup's Avatar SBR PRO
    Join Date: 07-24-13
    Posts: 707

    Real Gambling Talk. Boys I need to know if I'm wrong here.

    Ok. I just spent a hour of my life arguing with MikeTizzy about the concept of how many parties are involved in Gambling. .

    This is why I need your opinions boys. Here was the conversation. Mike believes that in the market of betting there is only a 2 channel (Person/Entity) market. Meaning only 2 people are ever involved in betting. I tried to explain to Mike that betting is a 3 party system.

    You have the house.
    You have the guy who bet the Favorite
    You have the guy who bet the dog.

    The Favorite bettor we'll call BigDay (Mainly cause he's banned for 24 hours ). He always lays the favorite.
    The house was created simply because they could count on Big Day to lay heavy juice and be a homer. The house takes on the majority of the risk of BigDays homer bets. Unfortunately even Big day will occasionally win. So even with the Juice they normally take on top of his Loses they need to hedge some risk.

    The house would never survive with out one more party to take on some of that volatile risk.
    That is where the third party or dog bettor comes in. The Dog better we'll call Opie. Only because we know Opie would fade BigDay just to laugh at him later . Bets against the favorite offsetting the risk for the House.

    I thought this was simple common knowledge that even the most basic hamburger understood.


    He insisted the house or sportsbooks were not a party involved in the bets . I wasted so much time trying to explain there would never be equal money of fav & dog on any game. I even explained Zero Sum.. Which I thought Asians knew from birth..


    Just tell me if I'm wrong here. Deemer your Asian pal, tell me where I went wrong in explaining it?

  2. #2
    ScurvyPirate
    ScurvyPirate's Avatar Become A Pro!
    Join Date: 12-15-11
    Posts: 369
    Betpoints: 2194

    2 party system imo. Obviously the initial startup requires a 3rd entity(sportsbook) to fund the process. But after a certain amount of time, its Technically gambler vs gambler, and the sportsbook will gladly take the vig.

    So really you're both correct to some extent.

  3. #3
    pavyracer
    What?
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 60,016
    Betpoints: 24

    Chipup come to the poker tables and quit trying to be a philosopher.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 08/17/2017


  4. #4
    Chipup
    Chipup's Avatar SBR PRO
    Join Date: 07-24-13
    Posts: 707

    Quote Originally Posted by ScurvyPirate View Post
    2 party system imo. Obviously the initial startup requires a 3rd entity(sportsbook) to fund the process. But after a certain amount of time, its Technically gambler vs gambler, and the sportsbook will gladly take the vig.

    So really you're both correct to some extent.
    To be gambler versus gambler it would have to be equal money. When the favorite wins the house has to pay out the uncovered end. It could be a 2 party system in case of a bookie & a client. But in sportsbooks that is not the case. Even if you labeled the book a broker between the two parties it would be in correct because a broker doesn't cover ones costs if there is an inequality in funding.

  5. #5
    theclutch7
    theclutch7's Avatar Become A Pro!
    Join Date: 12-14-10
    Posts: 371
    Betpoints: 48

    total baloney, just bet. if you took the money line on favorites and the dog plus the points you'll be up 75% a year. the problem is people got to be right. call me wrong and bet it this way. computer lines are tough. a fav has to be at their best every week, impossible

  6. #6
    InTheDrink
    Drinker of the Year
    InTheDrink's Avatar Become A Pro!
    Join Date: 11-23-09
    Posts: 23,990
    Betpoints: 526

    its sort of irrelevant

    if you tracked bets anywhere for any series of plays, the more bets you track, the closer and closer you'll get to 50% w/l ratio and consequently negative units for the bettors

    look at any sbr contest like BTP that has a ton of picks made and you'll probably see a winning % between .495 and .505 and the units will be in the negative. it doesn't matter whether there are people on both sides in the short term because you just need a high volume of plays to get you to where you need to be....so you could say the more bettors, the more bets, the more profit for the book

    this was this year's BTP final tally and there were surely many many games that were played much more heavily on one side than another

    WLT: 15982-16108-760
    Percent: 49.80 %
    Units: -2,139.64

  7. #7
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 29,113
    Betpoints: 2615

    The book v the players.

    Other punters results do not affect you so you are not against them.
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: 5mike5

    SBR Bash
    Punta Cana
    Attendee 2/4/2017


  8. #8
    z-doggie
    yo dog ,,i am the ish...
    z-doggie's Avatar Become A Pro!
    Join Date: 01-09-14
    Posts: 1,015
    Betpoints: 1956

    The house trys to set the line so that money is played on both sides...they want the money played on each side to be equal if possible and set the lines with this goal in mind. This way no matter the outcome they make money on the vig.

  9. #9
    Dirty Sanchez
    Two time SBR Academy Award winner
    Dirty Sanchez's Avatar Become A Pro!
    Join Date: 03-01-10
    Posts: 16,040
    Betpoints: 12

    Never fukkin heard of ya pal
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: greenhippo

Top