9
votes
Accepted
How do bookmakers get the lines so close on sports betting?
Here's what Vegas has on hand to determine this stuff:
Tons and tons of stats, and smart folks to interpret them.
They have historical game stats, but more importantly, they have stats on historical ...
- 9,106
6
votes
Why is betting on yourself in a sporting event considered unethical?
The problem isn't being on yourself to win - it's on the matches when you don't bet on yourself. Consider a situation where I bet on myself to win in 9 out of 10 matches, but then didn't bet on the ...
- 22.2k
5
votes
Accepted
Sports odds explanation for NFL
Against the Spread tells you how a team plays against the spread - so if you gave them their spread points for each game, what would their record then be? For example (made up numbers):
Week 1: CHI -...
Joe♦
- 11.5k
5
votes
Betting on even quotas
Draw is usually higher odds partly because most people bet on one team to win, which drives the odds in particular directions. In the case you stated, it is likely the case that Team 2 are the better ...
- 515
5
votes
Was Pete Rose busted for betting against his own team?
According to the Dowd Report, Pete Rose was busted for betting on matches in which he was involved
Pete Rose bet on baseball, and in particular, on games of the
Cincinnati Reds Baseball Club ...
- 3,609
4
votes
Why is betting on yourself in a sporting event considered unethical?
First for NFL, MLB, NCAA, NBA, and other US sports entities it is outlawed because of player's involvements with bookies and betting rings. MLB isn't worried about a pitcher that wants to bet on ...
- 5,103
4
votes
Accepted
Do sportsbooks structure "lossless" bets?
I am not sure to which extent this will be satisfactory answer for you, but basically short answer is that this might happen but bookmakers have some tools they might use to reduce their losses or at ...
- 5,836
4
votes
How do bookies calculate parimutuel place odds (in horse racing) shown before a race starts?
Parimutuel works by pooling all bets in a given result, then dividing the pool by the total number of betting units held in wagers that match the winning result.
To make calculation easier to work ...
Nij♦
- 7,514
4
votes
Asian handicap bets combination
This is the wikipedia page that explain asian handicap betting.
In a case of multiple bet you have to calculate in this way:
bet Y
event 1 over 1.5 => win (coefficient X1)
event 2 over 1.5 => win (...
- 9,220
4
votes
How does Smarkets matched betting actually work?
Note: the following is a very rough first draft to be refined later.
Roughly speaking, betting odds imply a probability that is the inverse of the (decimal) odds. If this implied probability is lower ...
3
votes
Accepted
betting - do favorites get undervalued quotes?
It is really simple. A books goal is to get half the action on each side, for all pure win/loss bets. They make their money on juice not guessing which side will win.
It does not matter if ...
- 5,103
3
votes
How to calculate the far and near price of betfair?
Betfair's odds system is somewhat different to the more conventional bookmakers.
They allow punters to bet against each other. A punter has two choices, one is to back an event for a win, the other ...
- 403
3
votes
Accepted
Relationship between Winning Margin and Point Spread in NBA Betting
There's no fundamental reason they should be equal, because a bookies' job isn't to accurately reflect the chance of a team winning: it's to make as much money as possible for the bookie. If a bookie ...
- 22.2k
3
votes
What type of mathematics do you use in sports betting?
Mathematical sports betting is already a huge thing
There is a lot of literature and research in the field of professional gambling and modelling of sporting fixtures. There are several dedicated ...
- 211
2
votes
Combining Bets in sports
One thing to note is books tend not to allow "correlated parlays". What this means is you are not allowed to make a parlay out of bets whose results are correlated to each other. For instance, let's ...
- 21
2
votes
Accepted
Combining Bets in sports
The bets of this type are called are called combo bet, accumulator bet or parlay bet. The odds are multiplied, exactly as you wrote in your post. You can also find several examples
in the Wikipedia ...
- 5,836
2
votes
Accepted
NFL betting odds during game
1)
It depends on the bookmaker.
Traditionally, things like the total, money line, and spread will be set before the game starts. During the game it is possible to choose these same bets for ...
- 3,160
2
votes
Accepted
What's the point of a half-point line?
This is done to ensure that there is not a push when the game is over. A push is when no one wins, and the sportsbook gives everyone their wager back.
Here is an example:
For this week's Pittsburgh ...
2
votes
How do NFL teams do in their last game if they have already clinched a playoff spot?
Depends on the situation:
If they have already earned the conference title then they will not
play their key players. For example, Aaron Rodgers didn't play the last
regular season game of 2011 for ...
- 10.4k
2
votes
Is betting on oneself to win or lose legal?
According to the FIFA Code of Ethics, players, coaches and all people involved on football is forbidden to place bets:
25 Integrity of matches and competitions.
Persons bound by this Code shall ...
- 409
2
votes
Accepted
Why do some bookmakers have minimum odds requirements on free bet promotions?
It's a question of risk (variance), not expected profit (mean).
Free bets are often offered along the lines of "bet £10, get a £10 free bet". If I can run the free bet through on very short ...
- 22.2k
2
votes
What happens to American odds when the point spread gets further from zero?
I don't understand the example. From my intuition, when the point spread increases, the American odds (moneyline) on the favorite should increase (e.g. from -150 to -140 [and not decrease from -150 to ...
- 4,791
1
vote
Placing a bet by the athlete himself
Major League Baseball certainly does not allow players (or managers) to bet at all on the sport. You may want to look up Pete Rose and his banishment from baseball because of his betting habits. It is ...
- 1,058
1
vote
Accepted
Why can't I find any point-spread information about the World Cup of rugby?
The margin victory does mean something in Rugby, especially with the 2019 World Cup rules where during the Pool stage,
A team scoring four tries in a match is awarded a bonus point, as is a team ...
- 1,298
1
vote
Accepted
In the NFL, how have teams fared against odds from Las Vegas?
Is a home team more or less likely to beat the spread than an away team?
Less likely.
Against the spread, the home team is 2001-2074-109 (.47825) since 2003.
Source | Range: Since 2003 | Show: All ...
- 1,024
1
vote
Who is the "winner" of each leg of a two-legged football match, or a match that goes to penalties?
According to the Laws of the Game (2 Mb pdf-file):
Winning team
The team scoring the greater number of goals during a match is the
winner. If both teams score an equal number of goals, or if no goals
...
- 229
1
vote
shortest odds in a top-class horse race
The lowest I could find was Man o' War from 1920, winning with 1/100 odds.
https://en.wikipedia.org/wiki/Man_o%27_War
Just ten days later, Man o' War returned in the Stuyvesant Handicap
which he ...
- 198
1
vote
Accepted
Is betting on oneself to win or lose legal?
In the UK, this is not illegal (i.e. you wouldn't face criminal charges for doing so), but it is against the rules of just about every sporting governing body to do so - any player or official of a ...
- 22.2k
1
vote
Was Pete Rose busted for betting against his own team?
...new documents obtained by Outside the Lines indicate Rose bet
extensively on baseball -- and on the Cincinnati Reds -- as he racked
up the last hits of a record-smashing career in 1986.
ESPN ...
- 742
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