Re: Who pays the vig: The loser or the winner??
[ QUOTE ]
You're "paying" with negative expectation. Both bettors have equally negative expectation (assuming the line is sharp).
[/ QUOTE ]
Why do people assume that "negative EV" and "vig" are almost synonymous. They are not. The EV in roulette is roughly -5.2% (can't remember exactly). If I bet $100 on 32 and the number hits, they don't pay me off at 37:1, but, I think (I have never played roulette before) 35:1 (the amount of the actual payoff doesn't mean anything in this example). I paid $200 in vig on that bet. All of the losers just lost their original bet. EV and Vig are completely seperate. If a football bet of +4 -110 is +EV and I lose, I just lose my original bet. If I win, I only get paid off $100 (if I risked $110). So, if I have +ev, I am still paying vig. They are not related.
craig
|