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Help a noob out

Discussion in 'SPORTSBOOK' started by CodeMonkey, Sep 20, 2015.

  1. CodeMonkey

    Possibly the OH but cannot self-identify
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    Someone please explain the odds to me.

    Rams -3.5 means we have to win by 4, correct? Or do I have that backwards (lose by no less than 4)

    115/100 means what?

    The even bet is 100/170 ... which looks like a higher payout? I guess I dont understand unless wash is favored.

    Thanks!
     
  2. OldSchool

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    -3.5 means to cover the Rams have to win by at least 4 points.

    115/100 means you bet 115 to win 100

    100/170 means you bet 100 to win 170
     
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  3. CodeMonkey

    Possibly the OH but cannot self-identify
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    Thanks. So it seems the even bet is higher odds... That's my confusion. Im going all in on even I guess.
     
  4. CodeMonkey

    Possibly the OH but cannot self-identify
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    Although the little number in parens is bigger for taking the spread.. 2.15 v 1.59.
     
  5. OldSchool

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    Check with the mods I guess I could have it backwards on the 115/100 lines. It's been a while since I did some football betting.
     
  6. CodeMonkey

    Possibly the OH but cannot self-identify
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    Yeah flipping those two would make sense. I was thinking it was just as you said. That was the confusion. It must be win 115 for 100 bet (115,100)...
     
  7. OldSchool

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    A favorite though won't net you that big of a return usually. So I'm still uncertain haven't used the sportsbook before today.
     
  8. CodeMonkey

    Possibly the OH but cannot self-identify
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    Im all in at -3.5!!!!
     
  9. flv

    flv
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    You have that the wrong way around.
     
  10. RhodyRams

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    it's like this @CodeMonkey

    Rams were GIVING 3.5 points..so if they covered the spread, the pay out would have been $115 for every $100 bet

    They were the favorites, so bookies wont make money if the odds favored the favorites.. so the "money line" paid out $100 for every $170 bet


    does that help splain it?

    Moot point since the Rams laid an egg
     
  11. CodeMonkey

    Possibly the OH but cannot self-identify
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    Yea thanks Rhody! One way to make sure you dont gamble too much is to put all your money on the Rams to win vs the rwords right out of the box. Just blow your wad right off and get it over with. :(
     
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  12. RhodyRams

    well hung member
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    Have a "like" for another dollar then
     
  13. VegasRam

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    flv - I think I read you work (worked) in the industry. This thread has me confused - I thought I knew this.

    With the Rams -3.5, the straight bet on the Rams is +115, (in this example), and the moneyline -170; as in 100/115 and 170/100?
    So the book is basically risking the vig (assuming a pick'em game straight bet is -110), betting the favored team won't cover?

    You'd think I'd know this after 25 years here.:palm:
     
  14. flv

    flv
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    A quick refresher for all in both English and American.

    English: If someone was rolling a six-sided dice their chances of rolling a '3' would be 1 chance in 6. In gambling terms the odds, (before any alteration to give the bookie a profit), would be 5-1. In English parlance the -1, (or 'to one' if you prefer), is normally removed. Thus the odds would 5. This reflects 5 chances for the event to NOT happen against 1 chance of the event actually happening. Conversely the chances of NOT rolling a '3' would be 5 chances in 6. In gambling terms the odds, (before any alteration to give the bookie a profit), would be 1-5. In English parlance the 1 is NOT removed. It can be noted as 1-5 or 1/5. In spoken terms it would be '1 to 5' or '5s on'.

    American: If someone was rolling a six-sided dice their chances of rolling a '3' would be 1 chance in 6. In gambling terms the odds, (before any alteration to give the bookie a profit), would be +500. Conversely the chances of NOT rolling a '3' would be 5 chances in 6. In gambling terms the odds, (before any alteration to give the bookie a profit), would be -500. The + and - show are always against 100. The + and - show whether you win more than 100 or less than 100 for every 100 wagered. Thus $100 at +500 will show a return of $600, ($500 winnings PLUS the returned stake money) if the wager is won. A bet of $100 at -500 will show a return of $120, ($20 winnings PLUS the returned stake money) if the wager is won.

    I can't say what the exact odds were on the Rams @ Redskins game as I can't access the page.
    With real life bookies the Rams were favourites by 3½ points. That means to win the game by any score the Rams would have been about 4/7 and the Redskins 6/4. In American Rams -175 and the Redskins +150. The handicap is set with the general idea that either outcome is equally likely. Thus with the Rams favoured by 3½ a bet on the Rams would only have won if the Rams 'covered' the spread, (won by more than 3½), whilst a wager on the Redskins would have been successful if the either the Redskins won or the Redskins lost by less than the spread. (A 3 point Rams victory would have been a winner on the spread for the Redskins). Whilst the spread is designed to be equally likely the bookie only wins by paying out slightly less than the true odds. In the case of a true even-money 50-50 coin-flip the bookie normally offers 10/11, (or -110 in American). Thus if the bookie takes $110 on Heads and $110 on tails he pays $210 to the winner and the remaining $10 is his profit. Gamblers often the games differently to the bookie and money talks. So...whilst the odds might start out at -110 on each team if the money is behind 1 team the bookie will rethink his odds for further wagers. If people were backing the redskins the odds could change to Rams +100 and Redskins -120. If People continued to back the Redskins the odds could change to Rams +110 and Redskins -130.

    The current line for Week 4 is with the Rams as significant underdogs. To win the game outright the Cardinals are -300 with the Rams +250. This equates to the Cardinals winning 75% of the time with the Rams winning 28.57% of the time. The 3.57% over 100% is the bookies expected profit margin. English bookies refer to this as 'the margin' or 'the book'. On the handicap the Cardinals are 7 point favourites. The current odds on the handicap are Rams -115 and the Cardinals -105. In American a game finishing exactly on the handicap mark, (in this case if the Cardinals were to win by exactly 7 points) is considered to be 'a push'. No-one wins and no-one loses. All bets are refunded. In English bets on both sides are normally losing bets. There is generally an option to bet on the game being decided by exactly 7 points would would likely be about 12/1, (+1200). Always check with the bookmaker before placing such a bet.

    Feel free to ask any questions.
     
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  15. VegasRam

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    Very nicely done. Thanks.
    Top marks (or high marks? - wasn't there that long).

    I will ask a question, thanks.
    I've noticed game odds are listed sometimes this team 'minus' or the other team 'plus'. And it had nothing to do with home/away. What determines how a game is listed?
    Whoever's putting the line up, house policy, how the public/sharps are betting or what?

    Anyway, again very nice concise read. Love numbers education.
     
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  16. CodeMonkey

    Possibly the OH but cannot self-identify
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    Thanks @flv If you dont mind my asking, what do you do for a living? You clearly know your stuff.

    Hey @VegasRam is that building in your avi one of your designs? Pretty cool! (Vegas is an architect)
     
  17. flv

    flv
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    I'm in the haulage industry now but much of my time is in the transport office.
    When I left school I went to work for a large gambling organisation based in East London. I started off in the Sportsbook department, but it was known as the Racing Room. I also got to spend 2 days working at Lingfield Park race track on their behalf. I moved from there into the shops and was the District Controller for 9 shops, (mostly staffing issues), in the East London area before I left after 10 years in the industry. I spent a year as a professional gambler after I left but whilst I made a living it wasn't at a level it wasn't going to be sustainable long term. In those days there was a 10% levy on all wagers and pre-internet there wasn't a big choice of bookies. It's a lot easier now if you can buy good information or you have an edge of your own. I'm not involved in the industry now.
     
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  18. VegasRam

    Give your dog a belly rub.
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    I wish.
    Lou Ruvo Clinic in Vegas.
    Check it out - very cool building.

    (I did take the photo though). :huh:
     
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  19. flv

    flv
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    The + and - are just the American way of showing the odds. In an event with only 2 possible outcomes an outcome that is considered to be more than 50% is a minus, (-), and an outcome considered to be less than a 50% possibility is a plus, (+). The stake/amount wagered is always to the right and the potential winnings are to the left. Suppose we're rolling a 10-sided dice and we need to roll 4 or lower. We have a 40% chance of success and a 60%chance of failure. In English our odds of being successful are 6/4 and the odds against us are 4/6, ('6 to 4 on' in bookie speak). In monetary terms it would be $150/$100 for us and $100/$150 against us. In American that would be +150 for us and -150 against us.

    To answer the broader questions the odds are normal down to 1 specialist in each organisation. Normally this specialist has spent years in the industry and knows everything there is to know about their particular subject. We had Wally Pyrah doing our horse racing odds and Micky Embleton doing the football, (Soccer to you). However, the 1980s were a very different time and there were only 2 of us in the Racing Room who knew anything about American Football. Whilst we generally followed odds from the US as a guideline, a somewhat enthusiastic 18-year-old strongly recommended that the company laid the biggest price on the Bears and the shortest price on the Rams when it came down the to the Championship games. We had the Bears at EVs and the Rams at 7/2 for the Super Bowl. Others had the Bears at 4/6 and the Rams 5. That 18-year-old had his arse kicked 2+ weeks later. :LOL:. If you did happen to take advantage of the '85 bears at Evs you owe me a drink.
     
  20. CodeMonkey

    Possibly the OH but cannot self-identify
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    I have never visited your fair city but it is on my list. It seems like a great place to make a home. I'd actually be as interested in seeing things like that as the gambling, glitz and tourist traps...and area 51. Ha. If I ever get out there I'll look you up.