huge difference, over time this really adds up. The monday nite game was a good example of the $.01 difference with $10k + on each side, all you can do is make an offer and wait and hope or accept an offer. I see it happening more and more lately with football, where no one wants to accept an offer cause of the huge difference and the market just sits there with no movement.
Didn't mean to expose what I thought was already out there.
One example of CRIS competing with Matchbook is if matchbook is offering a line of +105 and CRIS is offering a line of +110 that would more than offset the higher commission rate that CRIS is charging to make them competive with the other books out there. As long as we are getting a better line who cares how much CRIS is making.
Before the math gurus chirp in here that +105 +110 was a rough example. That +110 may need to move up or down a point or two to equal matchbook. Should be interesting how it operates.
There is another website that looks similar to the one I posted earlier I have used a few times. Don't want to get in trouble for posting the link. Anybody interested in the link feel free to pm me.
Dang I miss matchbook! Seems like as much money as they deal with over there they should put some kind of unbreakable security in place. Can you imagine what this costs them per hour for us not to be able to wager there?
Well it is more than .002%, that is virtually nothing !
Your error is neglecting the commission you are paying on losing bets, the MB fee is paid by you when you accept an offer ( win or lose), not the offer originator.
Therefore when you accept a -101 line, you will lose $102 or win $99. You pay MB their $1, not the other guy, he gets back .2% or whatever win or lose, or 20 cents, if the rebate is .2%, so MB makes 80 cents on this bet.
102/99 is a line of -103, not -101.
I believe you make offers mostly, like in your CFB picks thread across the road, so you are not paying the commission.
The line is clearly 2 cents + worse when accepting, instead of offering, but that still beats most books easily, unless you have a ton of outs, then you might beat MB by a cent or two here and there.
I noticed people are not sure how to factor into MB's commission:
For all sports other than MLB:
-1.0% to accept existing offers
+0.2% for making offers that are matched
If you want to know the actual juice of accepting existing offers, then do this:
for favorites, formula is: {fav line}/.99
example for -114: 114/.99 = 115.15 = -115.15 juice
for underdogs, formula is: {dog line}*.99
example for +118: 118*.99 = 116.82 = +116.82 juice
That's how I do it.
Same idea, if you want to bet a game to win exactly $100 *AFTER* commission:
If it's on -125, betting $125 to win $100, but instead, you do 125/.99 to get 126.26.
That means you should bet $126.26 to win $101.26 then the $1.26 commission would make it $100.00.
* CalvinTy
For all sports other than MLB:
-1.0% to accept existing offers
+0.2% for making offers that are matched
If you want to know the actual juice of accepting existing offers, then do this:
for favorites, formula is: {fav line}/.99
example for -114: 114/.99 = 115.15 = -115.15 juice
for underdogs, formula is: {dog line}*.99
example for +118: 118*.99 = 116.82 = +116.82 juice
That's how I do it.
Same idea, if you want to bet a game to win exactly $100 *AFTER* commission:
If it's on -125, betting $125 to win $100, but instead, you do 125/.99 to get 126.26.
That means you should bet $126.26 to win $101.26 then the $1.26 commission would make it $100.00.
* CalvinTy
doug and ty, now this is starting to make sense...you guys are sharp, dang...
yes, I typically post offers but every once in a while I will accept an offer and didn't know exactly how it worked...I wasn't factoring in that if your bet won they will take $1 off for every $100 won, was just factoring in the $1 added to every $100someodd dollars wagered...
thank you both very much...I'm glad there are guys like you out there...
yes, I typically post offers but every once in a while I will accept an offer and didn't know exactly how it worked...I wasn't factoring in that if your bet won they will take $1 off for every $100 won, was just factoring in the $1 added to every $100someodd dollars wagered...
thank you both very much...I'm glad there are guys like you out there...
SS: That is the dollar matchbook is charging you.
Calvin fails to account for it.
In his example one risks 115 to win 99
or 115/99, not 114/99, so the line is -116.16
Calvin's dog of +118 is risking 101 to win 117. or
117/101= +115.84
both close enough to my quick two cent rule.
The farther away you get from pick'em, the more it will differ from two cents.
Calvin fails to account for it.
In his example one risks 115 to win 99
or 115/99, not 114/99, so the line is -116.16
Calvin's dog of +118 is risking 101 to win 117. or
117/101= +115.84
both close enough to my quick two cent rule.
The farther away you get from pick'em, the more it will differ from two cents.
Doug,
I knew I didn't explain it well... but FYI, by using 0.99, I'm factoring in the 1% commission cost.
You bet a -150 number, risking $150 to win $100..... wait, I see a mistake on my part, which is not related.
I am applying 1% to the $150 when I shouldn't! MB will charge only the smaller amount of the bet (their fancy word, "commission handle"), which is $100, doh me.
So allow me to clarify:
If you want to win $100 after commission on an accepted offer, you do this:
=====
for favorite:
$100/.99 = $101.01 is the "bet to win" amount... no matter what the favorite juice is.
example of -114:
risk $115.15 to win $101.01; pay $1.01 in commission costs; net $100
so I was correct earlier in my post (without decimal places): "115 to win 101; net 100"
=====
In any case, I do add 2 cents to juice as a guide so Doug has that right... of course, it becomes no good approaching -180s and higher.
* CalvinTy
I knew I didn't explain it well... but FYI, by using 0.99, I'm factoring in the 1% commission cost.
You bet a -150 number, risking $150 to win $100..... wait, I see a mistake on my part, which is not related.
I am applying 1% to the $150 when I shouldn't! MB will charge only the smaller amount of the bet (their fancy word, "commission handle"), which is $100, doh me.
So allow me to clarify:
If you want to win $100 after commission on an accepted offer, you do this:
=====
for favorite:
$100/.99 = $101.01 is the "bet to win" amount... no matter what the favorite juice is.
example of -114:
risk $115.15 to win $101.01; pay $1.01 in commission costs; net $100
so I was correct earlier in my post (without decimal places): "115 to win 101; net 100"
=====
In any case, I do add 2 cents to juice as a guide so Doug has that right... of course, it becomes no good approaching -180s and higher.
* CalvinTy
If you risk 115.15 to win 101.01, and lose, you will be charged an additional 1.01.
You are failing to account for the commission on losing bets, the way I see it.
If you lose your $115.15, the guy that made the offer will get that money +.2%.
Matchbook would make no money this way, in fact they'd lose, your 115.15 is really 116.16
