Taking Bets

[rsleazy]

A buddy of mine has been taking bets for sometime now with the NFL and with college football. He ALWAYS comes out on top, no matter who wins or who loses. I have asked him many times to help me understand how he does this and he replies "I learned it myself, you should too". So I am turning to the internet in search of this key piece of advice.

To start things off, I understand odds, lines, and totals. And I also understand that there is a certain balance that needs to be kept among the odds, lines, and totals. But where does the money come into his pocket?

Here is how I think it works but please correct me if i am horribly wrong. I can take it I swear.

Lets say he takes one $400 bet for team a and a $400 bet for team b.
Team a ends up winning. So he collects from the loser and pays out the winner obviously. But how much does he collect and pay out.

%5 would mean he would take in $420 from the loser and pay $380 to the winner. Netting him $40 in the process.

Is this anywhere close to how it happens? Any help is greatly appreciated.

[IDENTITY]

ideally sleazy, a book will take equal action on both sides of the game and make money on the vig or juice on the volume with no risk!!!!

[NesAdvantage]

Originally Posted by IDENTITY

ideally sleazy, a book will take equal action on both sides of the game and make money on the vig or juice on the volume with no risk!!!!

In theory you are correct identity but you almost never see that. Most books makers like a big decision and are in reality just gamblers betting against the public.

Sleazy, the winner does not get charged vig so his payout would be $400 not $380. Generally speaking if you are going to book you will probably be offering a 20cent line which means both side should be laying -110 , so in your "ideal situation" that Identity described you would only be netting $40 for yourself on $800 worth of action. If I were you I would try to put the line where both guys bet Team A and then scream at the T.V. until Team B wins. Now that is an ideal situation.

[rsleazy]

Wow. I think I am grabbing a better understanding of all this. Thanks for the help guys.