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,
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,