Value has different meanings depending if you are sharp or square. In this, we are just talking squares. A recreational bettor's value comes from the play plus the entertainment value. We will assume a recreational player is 50/50 on -110 lines, otherwise known as a dart thrower or coin flipper
So with $110 wagered on -110 line, you expect to win (-$5) each time. HOW?
Game 1 risked $110 and lost (-$110)
Game 2 risked $110 and won (+100)
Net result is -$10 divided by 2 games...meaning you expect to lose $5 for each bet placed.
In the equation VALUE = play value (x) + entertainment value (y)
Value = -$5 + y.....
How long are sports games? We will use 3 hours for NFL,NCAAF...2 hours for NCAAB....and 2.5 hours for NBA and NHL.......that is 2.6 hours, or 156minutes
Where to go from here?.. Well the entertainment value could be anything you want it to be. HOWEVER, we know something similar that you watch for entertainment value. Movies. The average price of a movie in the theatre for the first quarter of 2018 was $9.16. The average movie length is around 110 minutes.
When setting up a ratio
$9.16/110minutes = y/156minutes we find that y = $12.99
From the equation earlier:
Value = x + y
Value = -$5 + $12.99
Value = $7.99
