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Thread: NBA Championship betting odds

  1. #11
    UxKa's Avatar
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    Quote Originally Posted by Glenn
    1/1 means you would win $1 for every $1 you bet
    im not one to bet, so like i said, i could be missing something. i would think that 1/1 means you dont make money. $100 bet means you get $100 back but its the $100 you bet. thats what im assuming. 2/1 would mean you make a dollar for each dollar you bet. $100 bet gets a $200 return with $100 being what you bet, ultimately being a $100 profit.

    if im wrong then teach me and i shall learn. if 1/1 means you double your money, then does that mean 2/1 you triple, 3/1 you quadruple and so on? that just doesnt make sense to me. im really really good at math but apparantly im missing something on betting odds.



  2. #12
    UxKa, you are definately thinking of this wrong. Sometimes teams are 2/1 or even more of a favorite to win. That doesn't mean that if you bet $100 on a team that is 2/1 and you win the bet, they take $50 from you. It means that you get your bet (called the "stake") back ($100) and you get $50, 2/1 odds means it takes a $2 bet to make $1. In other words a 50% profit. Just flip the fraction (2/1 = 1/2) convert it to a percentage (1/2 = 50%) and read it as "a ___% profit if I win" (50% X $100 = $50 profit) and you should have it correctly. If you win the bet, you don't lose the money you bet with (the "stake").
    Last edited by Fool; 05-23-2006 at 01:15 AM.
    STEW BEEF!

  3. #13
    Quote Originally Posted by Tahoe
    Something is fucked up on those odds, aren't they..cause if the Pistons are even money and they are the favs, then whomever is booking this is going to lose a lot of fucking money.

    All that means, is that they are not an overwhelming favorite (I believe). Considering that the book takes 100% of all bets on every team that doesn't win, they can afford to pay out even money or > on any team that wins it as long as the bets aren't too heavy toward any one team.

    When it gets down to less teams and the betting is distributed between few options, that's when you get less than even odds. A boxing match for instance always has a favorite at less than even money because there are only 2 options for betting. The more chances for the bettor to get it wrong the higher the payout for any one correct bet (in general).
    STEW BEEF!

  4. #14
    Glenn's Avatar
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    Somebody will need to correct me if I'm wrong, since it's been about 10 years since I did a lot of betting on sports.

    I think you guys are confusing "odds" with "the money line".

    Those are two different ways of betting.

    If the odds are 1/1, for example, you would get $1 in winnings for every $1 you wager (plus your original wager back, less the "vig" (the house's take) which typically is 10%.

    So if you put $10 on the Pistons to win, and they are 1/1, and they win, you'd get:

    $10 (winnings) + $10 (your original wager) - $1 (the vig)= $19

    As far as the money line goes, you can bet on a single game, or a series, using what is called "the money line".

    In this example, the Pistons are -255 for the Heat series. That means that you would have to put up $2.55 for every $1 that you want to win.

    Conversely, the Heat are +215, which means that for every $1 you put up, you get $2.15 in winnings.

    I hope that helps.
    Find a new slant.

  5. #15
    you degenerate gamblers






    *fires up online poker*

  6. #16
    A person who tells lies. Tahoe's Avatar
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    Pretty good esplantion Glenn and Foo.

    I bet football back in the day. Money line is just as you describe, no handicapping by points, they handicap the payback, so to speak.

    And Foo, I think you're right. With so many teams and only one team can win, the house would prolly have a little kitty of cash to make paybacks. And ofcourse they'd hope for an even odds team to win.

    BBall has the same moneyline betting...interesting. I'm about an hour from Reno.

  7. #17
    UxKa's Avatar
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    tooootally get it now. thanks guys



  8. #18
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    Updated from Bodog.com:

    Detroit Pistons 10/11 (.91 to 1)

    Dallas Mavericks 3/2 (1.5 to 1)

    Miami Heat 4/1

    Phoenix Suns 8/1
    Find a new slant.

  9. #19
    Glenn's Avatar
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    Some Pistons.Heat series odds:

    Miami Heat to win in 4 games 22/1

    Miami Heat to win in 5 games 17/1

    Miami Heat to win in 6 games 4/1

    Miami Heat to win in 7 games 5/1

    Detroit Pistons to win in 4 games 10/1

    Detroit Pistons to win in 5 games 3/1

    Detroit Pistons to win in 6 games 7/2 (3.5 to 1)

    Detroit Pistons to win in 7 games 3/1
    Find a new slant.

  10. #20
    Glenn's Avatar
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    Interesting change of events:

    Detroit Pistons 3/2 (1.5 to 1)

    Dallas Mavericks 2/1

    Miami Heat 14/5 (2.8 to 1)

    Phoenix Suns 9/2 (4.5 to 1)
    Find a new slant.

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