The house always wins, in the long run. They want to make $3 for every $100 bet

Sep 27, 2024
12:53:14pm

RenoCoug Truly Addicted User

and they do that, year after year after year. They pay their very good oddsmakers a ton of money and are now using AI to help them.

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RenoCoug

Bio page: RenoCoug
Joined: Feb 15, 2005
Last login: Sep 27, 2024
Total posts: 7,151 (94 FO)

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Messages

Author

Time

Could someone explain betting to me like I am a simple minded child?

kaladin58

6:21am

Yes, sounds like you have it right.

BoiseBlue

6:27am

Yes, Baylor is 2.5 point favorites and the over/under total points is 45.5

volleyjiver

6:29am

Thanks for this. I never understood it that well so that actually helps

DavisCoCoug

6:44am

I know it’s not what you are looking for but

stonecougar

6:39am

Thanks for the sunday school lesson. Just kidding. Betting is a decent way to

kaladin58

6:40am

So what’s the spread then? I mean why call it the spread instead of “the line”?

Dr MoBYU

6:48am

2 different types of bets (Moneyline and Spread)

Greg Kite's 'stache

7:17am

Thank you. Anytime I read these definitions I seem to miss salient points. That helped.

Dr MoBYU

7:44am

The casino's aren't giving out free booze for nothing. Of course it is in their

Blue for Life

8:33am

Wait a second, you’re telling me that a sportsbook isn’t running a charity

Disco Lemonade

8:56am

Sports books lose money some years. Overall they have won, but they don't always get an equal number of betters on each

HarlemCoug

9:32am

Great point they set lines to draw bets on both sides and take the 10% juice.

U2wearblue

9:48am

Some people can win. The prob is, if it’s any significant amount, they bar you

zerome4sooners

12:16pm

The house often looses. It is an art not a science and they often find themselves out of balance on a given game. They

vegasnative

2:30pm

The open is the initial posted point spread

chirocoug

7:28am

Another rule I try to live by in Sports Betting is to never bet on your own team

tamasiaina

10:06am

Disagree

Jack Teacher

2:43pm

if this is your first time betting on sports I have some sage advice:

Str8CashCougar

10:32am

Just to illustrate how the house always wins...

StantonMac

10:43am

So what your saying is the house is taking a service fee for overseeing a bet...

kaladin58

10:53am

a "service fee" but also the risk that there is heavy betting on one side

volleyjiver

11:18am

It's still the same concept. Saying the house always wins makes it seem like

kaladin58

11:45am

The house always wins, in the long run. They want to make $3 for every $100 bet

RenoCoug

12:53pm

My point is, so does Xfinity and Tmobile and AT&T.

kaladin58

12:59pm

The house doesn't always win. What happens when only 1 person bets on the game in your scenario? Books try to balance

HarlemCoug

11:18am

True. But the juice helps.

snowbird

1:18pm

This is why they prefer parimutuel wagering, like horse racing. They take the bets, pay out the winner, and take a small

vegasnative

2:35pm

That's based on if you are betting with odds, not betting the spread

RenoCoug

12:41pm

RE: Could someone explain betting to me like I am a simple minded child?

rtl

3:31pm

<< Deleted >>

HarlemCoug

3:34pm

Thanks papa

kaladin58

5:14pm

Thanks for these answers.

eyes4byu

4:53pm

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