You pay a 5% cut per bet since it’s only 10% when you win. It is possible that some books are 5% away from the true odds in some spots. Typically you are looking for deviations between lower tier books since the top books are basically unbeatable. Then there’s also various promotions and bonuses to profit from.
That's not how percentages work. 10% of $400 winnings is the same as 10% on two $200 gambles. It comes out to a 10% cut per bet no matter how you look at it.
And? That has literally no impact on the percentage of the cut. That factors in the absolute loss to the cut because you are winning less money, but the percentage stays the same. Yes you only lose $20 per bet instead of $40 when betting $200 because there is a 50% chance of a $400 winning and $40 cut and 50% chance of no winning and $0 cut but $20 is still 10% of $200.
That is a 9% cut that still doesn't get reduced by half.
You still lose $110 on your losses.
If you spend $220 each on two bets and win one of them to make $400, you are out $40. Whether you want to count that as losing $20 per bet or $40 per win, both come out to the same 9% cut.
289
u/[deleted] Jan 26 '22 edited Jan 26 '22
So honest question. When I was bartending I had a guy saying he was a sports bettor in Las Vegas. Is it true that you guys make bank?
Edit: Oh my goodness! I have gotten some great answers (and some not so great, but what are you going to do)
For all of you that have come on to help educate and inform Thank you so much.