JIMMYFOCKER
JIMMYFOCKER
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August 25th, 2013 at 6:38:21 AM permalink
Quote: NokTang

As a general rule, don't we assume they make/earn five percent of the total amount wagered thinking out over some amount of time.

This assumes a ten percent vig......most "bookies" will make the "dumb" statement to the players they only "pay ten percent when you lose" but it's five of the total, don't be fooled mates.

110,000.usd wagered on one side(100,000 plus "ten percent if you lose", remember a bookie gives "credit")
110,000.usd wagered on the other side ( ditto )

That's 200,000 wagered

You the "book" win 10,000. no matter who wins/loses (over time)

10,000. is five percent of the 200,000.usd.

Don't be fooled by some of the salesmen in the world who can't add to two.

No, this is not a given.

Books close all the time because they can't win enough to cover their expenses, both offshore and in Vegas.

Most books are operated by incompetent people.
FinsRule
FinsRule
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August 25th, 2013 at 6:38:44 AM permalink
There is no way a book is going to accept a million dollar bet on Toledo vs. Akron.
JIMMYFOCKER
JIMMYFOCKER
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August 25th, 2013 at 8:10:11 AM permalink
Quote: FinsRule

There is no way a book is going to accept a million dollar bet on Toledo vs. Akron.

This is correct
mickeycrimm
mickeycrimm
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August 25th, 2013 at 9:24:17 AM permalink
Quote: NokTang

As a general rule, don't we assume they make/earn five percent of the total amount wagered thinking out over some amount of time.

This assumes a ten percent vig......most "bookies" will make the "dumb" statement to the players they only "pay ten percent when you lose" but it's five of the total, don't be fooled mates.

110,000.usd wagered on one side(100,000 plus "ten percent if you lose", remember a bookie gives "credit")
110,000.usd wagered on the other side ( ditto )

That's 200,000 wagered

You the "book" win 10,000. no matter who wins/loses (over time)

10,000. is five percent of the 200,000.usd.

Don't be fooled by some of the salesmen in the world who can't add to two.



If the money comes in equally on the favorite and the dog then the books will pay out $21 per $22 in action. The one dollar they hold represents a hair more than 4.5% of the action. I think they are willing to take lopsided action on the favorite as long as they are getting a point or two more on the dog than what the sharp line is.
"Quit trying your luck and start trying your skill." Mickey Crimm
KeyserSoze
KeyserSoze
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August 25th, 2013 at 10:56:49 AM permalink
Quote: mickeycrimm

If the money comes in equally on the favorite and the dog then the books will pay out $21 per $22 in action.



Why wouldn't this be $20 per $22 in action? Where does the $21 come from?
Talent hits a target no one else can hit; genius hits a target no one else can see.
mickeycrimm
mickeycrimm
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August 25th, 2013 at 12:00:02 PM permalink
Quote: KeyserSoze

Why wouldn't this be $20 per $22 in action? Where does the $21 come from?



One player bets $11 to win $10 on the favorite. Another players bets $11 to win $10 on the dog. That's $22 in action. Whichever player wins the bet the book gives him back his $11 bet plus his $10 win. That's $21.
"Quit trying your luck and start trying your skill." Mickey Crimm
KeyserSoze
KeyserSoze
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August 25th, 2013 at 12:56:29 PM permalink
Quote: mickeycrimm

One player bets $11 to win $10 on the favorite. Another players bets $11 to win $10 on the dog. That's $22 in action. Whichever player wins the bet the book gives him back his $11 bet plus his $10 win. That's $21.



Sorry dude. I misread your post. I just logged in after drinking 14 beers on the golf course. Gonna take a nap now. Thanks.
Talent hits a target no one else can hit; genius hits a target no one else can see.
NokTang
NokTang
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August 25th, 2013 at 4:32:42 PM permalink
Quote: KeyserSoze

Why wouldn't this be $20 per $22 in action? Where does the $21 come from?



It's $20.usd in action. $10.usd on each side. You were correct despite the beers.

You put up $11.usd because you don't have any credit, or if you do have "credit" you are still wagering only $10.usd and the $1.usd is the vig, not a wager.

Bookies use this as I indicated, and perhaps unwittingly depending how "low" you get, but the fact remains cold and clear, over time, a sports book/bookie looks for five percent in football and basketball. Baseball is even higher with the 20percent lines. Money lines higher as well especially with sports like boxing. It's not confusing once you've been there, done that.
NokTang
NokTang
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August 25th, 2013 at 4:38:12 PM permalink
Quote: JIMMYFOCKER

No, this is not a given.

Books close all the time because they can't win enough to cover their expenses, both offshore and in Vegas.

Most books are operated by incompetent people.



It is and remains a given. I never said they would make money or enough money to cover expenses nor who was incompetent. The fact remains, a five percent(or higher) return on a "game" lasting an hour or four attracts some "investors". It's all about credit which I alluded to. A cash up front book is much different than a bookie giving credit then going around busting kneecaps etc..
Buzzard
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August 25th, 2013 at 5:44:24 PM permalink
Quote: FinsRule

There is no way a book is going to accept a million dollar bet on Toledo vs. Akron.




If a book does take, the bettor should be worried. BELIEVE ME !
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
NokTang
NokTang
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August 26th, 2013 at 4:50:48 AM permalink
Quote: Buzzard

If a book does take, the bettor should be worried. BELIEVE ME !



Since both schools are in Ohio, that's got to be some sort of rivalry which would eliminate any sort of fix.
mickeycrimm
mickeycrimm
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August 26th, 2013 at 6:04:25 AM permalink
Quote: NokTang

Since both schools are in Ohio, that's got to be some sort of rivalry which would eliminate any sort of fix.



NokTang, the Nevada books have their own set of statistics. They know traditionally how much money is bet on games like Akron v. Toledo. Now, all of a sudden, an exorbitant amount of money is trying to be bet on the game. And it's all trying to be bet on one side. The books are not in business to lose money. It's suspicious betting activity to them. They are not going to take those bets and will mostly likely investigate. When a fix is in someplace it's the books that are the first to know.
"Quit trying your luck and start trying your skill." Mickey Crimm
NokTang
NokTang
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August 26th, 2013 at 4:47:20 PM permalink
Quote: mickeycrimm

NokTang, the Nevada books have their own set of statistics. They know traditionally how much money is bet on games like Akron v. Toledo. Now, all of a sudden, an exorbitant amount of money is trying to be bet on the game. And it's all trying to be bet on one side. The books are not in business to lose money. It's suspicious betting activity to them. They are not going to take those bets and will mostly likely investigate. When a fix is in someplace it's the books that are the first to know.



I'm not sure if we are talking about basketball or football in this example. However, the game would normally be at the college limit which is lower than the NFL. I don't recall the last time I read about an NFL "fix" or even an alleged one. There have been stories about NBA games not being on the up and up. Baseball of course much more difficult to fix.
LarryS
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August 26th, 2013 at 5:46:35 PM permalink
NBA offical was involved in helping out the "over" andsiad the NBA had an interest in the lakers beating sacramento 10 years ago.and the offciating seems to bear that out. The official served jail time.

In pros....the last place where playrs may point shave is football because none of the contracts are garunteed/ Only signing bonuses are. So if someone has a couple of bad games..he can be cut and never see another NFL paycheck.
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