Who pays the vig: The loser or the winner??

[dafor11]

All the answers are correct, depending which view you are using. From EV point of view, both pays half vig. From betting exchange point of view, only winners pay. From some posters' point of view, only losers pay. Even 70%/30% split between winners and losers makes sense to me. Pick an answer that makes sense to you, because all in all, the grand total of vigs bettors pay is the same.

[Mr_J]

[ QUOTE ]
All the answers are correct, depending which view you are using.

[/ QUOTE ]

True, but most people on this site should know that ev is what matters.

[BoxLiquid]

Both pay the vig. If you agree to a 10:11 proposition when the odds should be 10:10 you are paying that 1 vig that is built into your agreement. Win or lose you are cut short because you agreed to pay 10:11 on a 10:10 bet.

[NajdorfDefense]

[ QUOTE ]
Actually you are the one who is wrong. You pay the vig when you place the bet, since you will only ever get 91% back (assuming -110)...

[/ QUOTE ]


You are wildly offbase. You do not understand the definition of vig. Your analogy is similar to sticking your head in the oven and feet in the freezer and proclaiming you are a comfortable 70 degrees on average.

Vig has a standard definition, which is different from yours. Vig is not something that is averaged btw winners and losers. It is a real dollar cost that the winner pays on each bet by collecting less than even money when he wins.
The loser loses his $11, The winner bets $11 and only gets $10 back, the house keeps the winner's dollar. If you make accounting T-columns to show *operationally* how the money physically moves from bettor to house to bettor, you will likely understand it better if you have any intelligence at all.

naj

[Mr_J]

[ QUOTE ]
You do not understand the definition of vig.

[/ QUOTE ]

No, you just don't understand the definition of EV. If you did, you would acknowledge that you pay vig whenever you make a -ev wager.

[ QUOTE ]
if you have any intelligence at all

[/ QUOTE ]

A personal insult to complete your argument. You must be right.

[NajdorfDefense]

[ QUOTE ]
[ QUOTE ]
You do not understand the definition of vig.

[/ QUOTE ]

No, you just don't understand the definition of EV.

[/ QUOTE ]

Changing the subject at hand does not make you right, in fact, it proves you are wrong.

Set up an accounting spreadsheet, and track the money flow from bettor to book to bettor, and you'll see who pays for it. Whether a bet is -EV or +EV is irrelevant.

If I make a plus EV bet, do I always pay vig? What if I make a plus EV bet and lose, and never gamble again, how much vig did I pay?

Also, learn to read for content next time.

Naj

[chan123bet]

The loser cannot pay the vig because he cannot lose more than what he had put in.

So, the winner pays in vig.

[jmillerdls]

"The bookmaker does, indeed, charge 4.55 percent of the total amount put at risk by both bettors...But be sure to note which bettor paid both bettors' share of the vigorish. It was not the loser. The loser - since he lost the bet - would have lost whatever he put at risk, with or without the services of the bookmaker. The winner paid. The winnings, which would have been $110 without using the services of the bookmaker, were shorted by ten dollars - 9.1 percent."

[Mr_J]

[ QUOTE ]
Changing the subject at hand does not make you right,

[/ QUOTE ]

I never changed the subject. EV goes hand in hand with vig.

[ QUOTE ]

If I make a plus EV bet, do I always pay vig? What if I make a plus EV bet and lose, and never gamble again, how much vig did I pay?

[/ QUOTE ]

Again you show how you don't understand EV.

[ QUOTE ]
Also, learn to read for content next time.

[/ QUOTE ]

Just got to love your condescending tone. Your aggression doesn't make up for your flawed arguements. Take some time to learn what I'm talking about, and then feel free to reply. The 'winner pays vig' arguement can be correct if you look at the question from a certain perspective, but the arguement that both pay is always correct. You should stop trying so hard.

[Mr_J]

I could come up with quotes from half a dozen sources that say both sides pay the vig. That doesn't prove anything. If you don't consider ev, then the winner pays the vig. If you consider ev, then both pay the vig.