Does the House have advantage on sports betting?

[her209]

If not, over the long run, would betting on the team picked to win put you ahead?

 

[tm37]

Points and the grease

Get you everytime

 

[Slew Foot]

Home underdogs are the keys to success.

 

[Mo0o]

i thought the point of the Spread was to ensure a house advantage

 

[Indolent]

Originally posted by: Mo0o
i thought the point of the Spread was to ensure a house advantage

The point of the spread is to get an even amount of people betting on both teams. They take a cut out of every bet. They just need to get as many people to bet as they can.

 

[imported_weadjust]

The house doesn't care who wins. They want even money bet on both teams so the house will have 10% return. Loser pays 10% juice.

 

[Sinsear]

The house always has an advantage in betting. Otherwise they wouldn't do it.

 

[GagHalfrunt]

Originally posted by: Indolent

Originally posted by: Mo0o
i thought the point of the Spread was to ensure a house advantage

The point of the spread is to get an even amount of people betting on both teams. They take a cut out of every bet. They just need to get as many people to bet as they can.

Right, the spread has nothing to do with who the oddsmakers think will win. It's set up as a guess to how people will bet. If there's heavy action one way or another then the odds move up or down until there's a balance point. Bookies will even lay off bets with other bookies to even things out. If one is getting too much action on the Bears (like in Chicago) he might lay off enough with another bookie who has too much action on the Colts. That way they both get 50/50 action and they make their money on the vig.

 

[thetxstang]

Originally posted by: weadjust
The house doesn't care who wins. They want even money bet on both teams so the house will have 10% return. Loser pays 10% juice.

There's the answer.

/thread

 

[Epic Fail]

No. You can become rich like Bill Gates if you bet both teams.

 

[Mill]

Originally posted by: weadjust
The house doesn't care who wins. They want even money bet on both teams so the house will have 10% return. Loser pays 10% juice.

That's not entirely true. Although they make most of their money off the vig, they can get royally fvcked if their action isn't balanced, or if something happens that causes them to have to pay out on several bets related to the game. Bodog talks all the time about when they are sweating it or get their ass kicked.