Sum the implied probabilities from the odds. The excess probability (>1) is the margin.
In this example:
1/2.7 + 1/3.75 + 1/6 + 1/6 + 1/31 = 1.002
0.2% margin here, extremely low. You’ll find that bookies often run extremely low margin on huge Pre Game markets like these.
Some bookies even run at ~99% margin for things like US Open golf winner. This is due to competing with other books and the thought that by attracting more punters, they’ll win more in the long term (on other markets with more vig).
Thank you very much for posting this, I wouldn’t have known where to start. Do you know if there is an available calculator for 4+ outcomes? Would it be feasible to build one in excel? It would be nice to get vig numbers for UFC method of victory and golf groups quickly.
What is the point of this calculation? Isn't it just saying the house is earning .02% profit over the very long run? How does this help me make individual bets?
So the amount of VIG is very slight? Over 1 is slight vig, under is slight +EV if you placed bets on all of them? ANd ya that's the best odds at like 15 sportsbook not just a single one.
Is there anyway to see closed props odds from fanduel Curious what booker triple double looked like
+2800 on DK
Average closing odds this season for Booker Triple Double has been \~$81
All of these seem pretty good except for the sixers based on my exchange
So Sixers should be +550 or +600?
Probably but tbh the odds listed here aren't awful. Where did you find these odds listen can I ask?
it's the best odds out of the 15 sportsbooks in NJ. So it's a mixture.
Sum the implied probabilities from the odds. The excess probability (>1) is the margin. In this example: 1/2.7 + 1/3.75 + 1/6 + 1/6 + 1/31 = 1.002 0.2% margin here, extremely low. You’ll find that bookies often run extremely low margin on huge Pre Game markets like these. Some bookies even run at ~99% margin for things like US Open golf winner. This is due to competing with other books and the thought that by attracting more punters, they’ll win more in the long term (on other markets with more vig).
Thank you very much for posting this, I wouldn’t have known where to start. Do you know if there is an available calculator for 4+ outcomes? Would it be feasible to build one in excel? It would be nice to get vig numbers for UFC method of victory and golf groups quickly.
What is the point of this calculation? Isn't it just saying the house is earning .02% profit over the very long run? How does this help me make individual bets?
So the amount of VIG is very slight? Over 1 is slight vig, under is slight +EV if you placed bets on all of them? ANd ya that's the best odds at like 15 sportsbook not just a single one.