Easy math question

[timmaydatiger]

Can someone help explain this to me.


I see Grizzlies +300 and to win the series +800.

If you wanted Grizzlies +300 couldn't you just take +800 then take Warrior's on the ML game 7 knowing they won't be -500 or more on the road Memphis?

 

[timmaydatiger]

Also do the books that rebate your first wager if it's a loss work on a series bet,Parlay, live bet, etc.. or Just straight bets and ML's?

 

[DontTailMe]

Can someone help explain this to me.


I see Grizzlies +300 and to win the series +800.

If you wanted Grizzlies +300 couldn't you just take +800 then take Warrior's on the ML game 7 knowing they won't be -500 or more on the road Memphis?

You can simply add/subtract odds like that. It doesn't work that way. You need to convert the odds to probabilities, do the probability arithmetic, and then convert back to odds.

I'm not doing that math for you because I'm confident it won't work in your favor.

 

[DontTailMe]

Can't**

 

[Ace7550]

Also do the books that rebate your first wager if it's a loss work on a series bet,Parlay, live bet, etc.. or Just straight bets and ML's?

I'm guessing you are talking about betus. I'm not sure what their rules are. I'd stick to a simple straight bet though. At least just for the wager back bet.

 

[rolandcorts]

Think of it this way. If you take the Grizzlies +800 for the series and they win game 6, then you essentially have +800 on the Grizzlies to win game 7 instead of what the game line would be (let's say +325).

If you bet $1000 on +800, you could now bet the GSW and lock in $800 in guaranteed profit (by betting 7200 on GSW -400 to win 1800).

Option 1: Bet $1000 on Grizzlies +325 on game 6, directly. Possible payout is $3250.
Option 2: Bet $1000 on Grizzlies +800 for the series. Payout is $1800.

This is why DontTailMe knew it would be a bad idea. For one, +800 is not a great number, and secondly, you lose a ton of equity if you hedge it by betting GSW on game 7.

In general, these tricks rarely pay off. The game market is more efficient than the series market which has a huge hold. Of course if you had found GSW +2000 to win the series, that's a different story, but generally if you just want a bet for action, you should make the bet in the most liquid market.

 

[Ace7550]

Think of it this way. If you take the Grizzlies +800 for the series and they win game 6, then you essentially have +800 on the Grizzlies to win game 7 instead of what the game line would be (let's say +325).

If you bet $1000 on +800, you could now bet the GSW and lock in $800 in guaranteed profit (by betting 7200 on GSW -400 to win 1800).

Option 1: Bet $1000 on Grizzlies +325 on game 6, directly. Possible payout is $3250.
Option 2: Bet $1000 on Grizzlies +800 for the series. Payout is $1800.

This is why DontTailMe knew it would be a bad idea. For one, +800 is not a great number, and secondly, you lose a ton of equity if you hedge it by betting GSW on game 7.

In general, these tricks rarely pay off. The game market is more efficient than the series market which has a huge hold. Of course if you had found GSW +2000 to win the series, that's a different story, but generally if you just want a bet for action, you should make the bet in the most liquid market.

You deserve betpoints for this

 

[rolandcorts]

Please send all donations to your local animal shelter.
Thank you.

 

[BigJay]

You need to convert the odds to probabilities, do the probability arithmetic, and then convert back to odds.