NinersIn2006! Posted January 25, 2006 Share Posted January 25, 2006 Now let me start by saying I would NEVER bet on the coin toss. Why would you? But I was browsing around some possible bets, and came to the coin toss, and noted that "heads" was even, but tails was a "-105". So I put a $5 bet into both (didn't hit submit) to see what the payout would be. Low and behold, if you bet heads, you are betting $5 to win $5. But if you bet tails, you are betting $5 to win approx $4.75 (I forget the exact number, you you get the point). SOMEONE EXPLAIN THAT LOGIC???? Quote Link to comment Share on other sites More sharing options...
Menudo Posted January 25, 2006 Share Posted January 25, 2006 Now let me start by saying I would NEVER bet on the coin toss. Why would you? But I was browsing around some possible bets, and came to the coin toss, and noted that "heads" was even, but tails was a "-105". So I put a $5 bet into both (didn't hit submit) to see what the payout would be. Low and behold, if you bet heads, you are betting $5 to win $5. But if you bet tails, you are betting $5 to win approx $4.75 (I forget the exact number, you you get the point). SOMEONE EXPLAIN THAT LOGIC???? 1288279[/snapback] Can't explain the logic in that, but I think the Coin Toss is the best bet you can make. No chance of a push and losing the fees, 50-50. Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 25, 2006 Author Share Posted January 25, 2006 Can't explain the logic in that, but I think the Coin Toss is the best bet you can make. No chance of a push and losing the fees, 50-50. 1288282[/snapback] Ha ha ha...I hear you there...its a 50-50... But I'd like to think I can find bets where I'm a little more sure than "50-50", but then again, with my success thus far in the playoffs, maybe I should be betting on the coin toss!! Quote Link to comment Share on other sites More sharing options...
Zooty Posted January 25, 2006 Share Posted January 25, 2006 The line will move to get even money on each side. What the line is telling me here is that most people like tails. Or men like tail or something like that It also tells me that people are idiots betting on a coin toss Quote Link to comment Share on other sites More sharing options...
Menudo Posted January 25, 2006 Share Posted January 25, 2006 The line will move to get even money on each side. What the line is telling me here is that most people like tails.Or men like tail or something like that It also tells me that people are idiots betting on a coin toss 1288290[/snapback] Tails never fails. Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 25, 2006 Author Share Posted January 25, 2006 The line will move to get even money on each side. What the line is telling me here is that most people like tails.Or men like tail or something like that It also tells me that people are idiots betting on a coin toss 1288290[/snapback] Oh, I got ya....people will bet heads right now (what reasonable person would bet tails, since the payout is less on a 50-50 bet)....then in a week, it will flip and tails will payout even, and heads will be a -105... That makes sense...now I can continue on with the rest of my day... By the way, this game needs to GET HERE ALREADY... Quote Link to comment Share on other sites More sharing options...
Zooty Posted January 25, 2006 Share Posted January 25, 2006 Anybody know the line on the Pro-Bowl? Quote Link to comment Share on other sites More sharing options...
isleseeya Posted January 25, 2006 Share Posted January 25, 2006 Anybody know the line on the Pro-Bowl? 1288307[/snapback] LOL Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 25, 2006 Author Share Posted January 25, 2006 Anybody know the line on the Pro-Bowl? 1288307[/snapback] Dont know the line, but give me the OVER, regardless of what the over/under is!!! Quote Link to comment Share on other sites More sharing options...
LegFuJohnson Posted January 25, 2006 Share Posted January 25, 2006 Where did you see heads was an even wager? Usually heads and tails are -110 or -115 on both. As far as the logic goes, people like to bet on things, that's why the NFL is so popular. Quote Link to comment Share on other sites More sharing options...
HowboutthemCowboys Posted January 25, 2006 Share Posted January 25, 2006 Tails never fails. 1288292[/snapback] Quote Link to comment Share on other sites More sharing options...
Jackass Posted January 26, 2006 Share Posted January 26, 2006 Oh, I got ya....people will bet heads right now (what reasonable person would bet tails, since the payout is less on a 50-50 bet)....then in a week, it will flip and tails will payout even, and heads will be a -105... That makes sense...now I can continue on with the rest of my day... By the way, this game needs to GET HERE ALREADY... 1288300[/snapback] if people are betting heads on a 50-50 bet, the bookies aren't making money so you don't have the explanation yet. i doubt the bet is really 50-50 - that doesn't make sense. Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted January 26, 2006 Share Posted January 26, 2006 Anybody know the line on the Pro-Bowl? 1288307[/snapback] There will be a line, won't there? Quote Link to comment Share on other sites More sharing options...
whomper Posted January 26, 2006 Share Posted January 26, 2006 True story..My oldest daughter will be 5 on friday. She was born the day before the Giants / Ravens superbowl. Every year after that ive given her a coin and shes flipped it and I bet it for the superbowl coin toss..She is 3-0. Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 26, 2006 Author Share Posted January 26, 2006 True story..My oldest daughter will be 5 on friday. She was born the day before the Giants / Ravens superbowl. Every year after that ive given her a coin and shes flipped it and I bet it for the superbowl coin toss..She is 3-0. 1288848[/snapback] NICE!! When do you usually have her flip? If its soon enough for you to post the result here, I'll take that bet!! 3-0, as sure of a thing as you can get!! Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 26, 2006 Author Share Posted January 26, 2006 if people are betting heads on a 50-50 bet, the bookies aren't making money so you don't have the explanation yet. i doubt the bet is really 50-50 - that doesn't make sense. 1288814[/snapback] yeah I do....basically setting one to be a bit of a "favorite" helps the bookies control where the betting goes...if they need more people to bet tails, they will make that the even bet... Quote Link to comment Share on other sites More sharing options...
rbmcdonald Posted January 26, 2006 Share Posted January 26, 2006 But I was browsing around some possible bets, and came to the coin toss, and noted that "heads" was even, but tails was a "-105". So I put a $5 bet into both (didn't hit submit) to see what the payout would be. Low and behold, if you bet heads, you are betting $5 to win $5. But if you bet tails, you are betting $5 to win approx $4.75 (I forget the exact number, you you get the point). SOMEONE EXPLAIN THAT LOGIC???? 1288279[/snapback] Assume 1,000 people bet $100 each, 506 on Heads, and 494 on Tails, Head wins Money In $102,470 (506 x 100 + 494 x 105)* Money Out $<101,200> (the 506 people that bet heads, get their $50,600 back, plus $50,600 in winnings. Net to the Book $1,270 (102,470 - 101,200) Now assume same 1,000 people bet $100, but Tails wins Same Money In $102,470 (506 x 100 + 494 x 105) Money Out $<101,270> (the 494 people that bet tails, get their 51,870 back, plus $49,400 in winnings. Net to the Book $1,200 (102,470 - 101,270) What the book is saying, is that if the odds were the same, more people would bet on tails. By making the odds worse on tail, they shift some people over to heads. All they are trying to do is find the point where it becomse Heads they win, Tails you lose. Even / -105 is an unusually narrow spread. It is a novilty bet, and they are just trying to generate interest. I can only assume that they believe that nobody is going to come in and bet $1,000,000 on Heads. Normaly if it is an even proposition, both sides would be -110. This is the 10% juice you hear a bookie refer to. After that, you would see even / -120 * If it is -105, most people will bet 105 to win 100, not 100 to win 95.24 Quote Link to comment Share on other sites More sharing options...
Jackass Posted January 26, 2006 Share Posted January 26, 2006 yeah I do....basically setting one to be a bit of a "favorite" helps the bookies control where the betting goes...if they need more people to bet tails, they will make that the even bet... 1288986[/snapback] so explain to me how they make money. Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 26, 2006 Author Share Posted January 26, 2006 so explain to me how they make money. 1289756[/snapback] You know, I went to bed thinking about this, and YOURE RIGHT...they dont make any money... I'm right back at square one!! Quote Link to comment Share on other sites More sharing options...
rbmcdonald Posted January 27, 2006 Share Posted January 27, 2006 You know, I went to bed thinking about this, and YOURE RIGHT...they dont make any money... I'm right back at square one!! 1289771[/snapback] Did you not read my post? darn, I spent 15 minutes on the stupid thing. In the senerio outlined, the book either makes $1,200 or $1,270 depending on how the flip comes out. Of course this is only the case if they set the line right. As I pointed out, that was a very narrow spread. It was a novelty bet, for every dollor bet on the coin flip, they probably will have $100s more made on other bets. Quote Link to comment Share on other sites More sharing options...
NinersIn2006! Posted January 27, 2006 Author Share Posted January 27, 2006 Did you not read my post? darn, I spent 15 minutes on the stupid thing. In the senerio outlined, the book either makes $1,200 or $1,270 depending on how the flip comes out. Of course this is only the case if they set the line right. As I pointed out, that was a very narrow spread. It was a novelty bet, for every dollor bet on the coin flip, they probably will have $100s more made on other bets. 1290863[/snapback] I actually did read that....had to re-read it later because I read it when I first got into the office, and couldnt think too much about it (had the boss looking at me from his office!) I just took the time to think about it, and that works for me...using numbers is the only way you are going to get the point across to this CPA! Thanks! Quote Link to comment Share on other sites More sharing options...
whomper Posted January 27, 2006 Share Posted January 27, 2006 Some bookies also lay off a lot of action to other bookies..If they get 100 people that bet tails and 175 people that bet heads they give other bookies 75 heads bets and they have 100 each on heads and tails and are guarenteed the vig. Quote Link to comment Share on other sites More sharing options...
Turf Smurf Posted January 27, 2006 Share Posted January 27, 2006 As far as the logic goes, people like to bet on things, that's why the NFL is so popular. 1288353[/snapback] Yeah, that's it. FWIW I'm good with either tail or head! Quote Link to comment Share on other sites More sharing options...
rbmcdonald Posted January 27, 2006 Share Posted January 27, 2006 ...using numbers is the only way you are going to get the point across to this CPA! Thanks! 1291186[/snapback] Ok, there is something seriously messed up about one CPA, explaining something to another CPA, about gambleing with a Sports Book, on a FF board. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted January 27, 2006 Share Posted January 27, 2006 Ok, there is something seriously messed up about one CPA, explaining something to another CPA, about gambleing with a Sports Book, on a FF board. 1291931[/snapback] That's just the kind of gripping subject matter that we have waiting for the SB.... Wait, it gets better!! Quote Link to comment Share on other sites More sharing options...
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