Re: Who pays the vig: The loser or the winner??
Interesting topic.
I bet Detroit -500 last night to beat Minnesota. Now lets say that somehow my sportbook got no action on the Twolves side. So the game was played, the Pistons won, and I made my 100 profit when I was returned 600.
Yes I "paid $500" in the risk I assumed. But since I won my wager, the house made no money on this specific transaction.
Now we can argue on the value of this bet. In the long run if Pistons only win this game 3 out of 4 times then it's a losing play....but what if Pistons win this game 7 out of 8 times? In the 2nd scenario, I am not paying a vig as a winner. (Ie. if the game should have been Pistons -900).
I don't think we can verify who (winner or loser) is paying the vig without knowing what the true value of the wager was.
I understand the craps examples. But sports is much more subjective.
Or to put it another way, if I was offered Steelers in the super bowl +17 points at 110 to win 100, am I still paying a vig if I win that bet?
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