Another factor is that the sportsbook’s house edge (vig) loses you more EV for longer bets, since it’s larger relative to your chance of winning when that chance is small. Around +600 (very roughly) is the sweet spot for EV.
Yes, it’s good to split your free bets to lower variance on FanDuel and Barstool who allow it. However, the DraftKings and Caesars bonus bets can’t be split. BetMGM splits your bonus into 5 equal-size bets that can’t be split further.
Hmm where did you hear that sportsbooks take a higher vig on longer odds bets? I knew this about one-way bets, like the winner of a golf tournament, because you can’t bet on the event not happening so there isn’t an easy way for the lay-bettor to see how much they’re getting ripped off. I’ve seen plenty of arbitrage opportunities on oddsjam for long odds bets—just flagging in case anyone doing handicapping or +EV betting without promos sees this.
Also, I could be wrong so please let me know if there’s something I’m missing!
This is just empirical, that the vig is roughly 4-5% for long and short bets alike. But the math works out that for a fixed vig, long bets lose more EV because the vig is larger as a fraction as your chance of winning,
Another factor is that the sportsbook’s house edge (vig) loses you more EV for longer bets, since it’s larger relative to your chance of winning when that chance is small. Around +600 (very roughly) is the sweet spot for EV.
Yes, it’s good to split your free bets to lower variance on FanDuel and Barstool who allow it. However, the DraftKings and Caesars bonus bets can’t be split. BetMGM splits your bonus into 5 equal-size bets that can’t be split further.
Hmm where did you hear that sportsbooks take a higher vig on longer odds bets? I knew this about one-way bets, like the winner of a golf tournament, because you can’t bet on the event not happening so there isn’t an easy way for the lay-bettor to see how much they’re getting ripped off. I’ve seen plenty of arbitrage opportunities on oddsjam for long odds bets—just flagging in case anyone doing handicapping or +EV betting without promos sees this.
Also, I could be wrong so please let me know if there’s something I’m missing!
This is just empirical, that the vig is roughly 4-5% for long and short bets alike. But the math works out that for a fixed vig, long bets lose more EV because the vig is larger as a fraction as your chance of winning,