December 21st, 2021 at 10:04:01 AM
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I want to compare the lay bet and the place to lose bets - per bet resolved when the vig charged on the lay is non standard. The bubble machines in Iowa screw the player by charging vig on the total of bet amount AND the win amount.

Example: lay 4 for $100 and when you win the vig is 5% of $150. Vig only charged on wins.

Note: I do have the percentages for the PL wagers

Thank You.

Example: lay 4 for $100 and when you win the vig is 5% of $150. Vig only charged on wins.

Note: I do have the percentages for the PL wagers

Thank You.

December 21st, 2021 at 10:27:27 AM
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So that's the difference between a $2.50 vig and a $7.50 vig? You get paid $142.50 instead of $147.50 including the bet amount?

December 21st, 2021 at 1:33:26 PM
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Quote:ola777I want to compare the lay bet and the place to lose bets - per bet resolved when the vig charged on the lay is non standard. The bubble machines in Iowa screw the player by charging vig on the total of bet amount AND the win amount.

Example: lay 4 for $100 and when you win the vig is 5% of $150. Vig only charged on wins.

Note: I do have the percentages for the PL wagers

Thank You.

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Just calculate the total vig you pay and divide it by the total amount you bet (not bet plus win, just bet).

ETA: saw you said it’s only on wins. So then multiply by % if time you win.

For a 4: $100 bet loses 1/3 and wins 2/3 You pay 5%*$150*2/3 = 5%

Corrected numbers above.

The race is not always to the swift, nor the battle to the strong; but that is the way to bet.

December 21st, 2021 at 1:43:56 PM
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For a $100 lay bet on 4 as you describe, you have a 1/3 chance of collecting zero and a 2/3 chance of collecting $150 x .95.

2/3 * 150 * 0.95 / 100 = 95% return or 5% edge

2/3 * 150 * 0.95 / 100 = 95% return or 5% edge

It’s all about making that GTA

December 21st, 2021 at 1:45:12 PM
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Quote:Ace2For a $100 lay bet on 4 as you describe, you have a 1/3 chance of collecting zero and a 2/3 chance of collecting $150 x .95.

2/3 * 150 * 0.95 / 100 = 95% return or 5% edge

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Oops. I agree with this. Messed up that it’s a lay so win 2/3 not 1/3. Will correct my post above

The race is not always to the swift, nor the battle to the strong; but that is the way to bet.