In a previous entry discussing the point spread, over/under and money line wagers at sports books, I mentioned that the house typically charges an extra 10 percent on point-spread and over/under bets. To win $10, you must bet $11.
Bettors are sometimes misled into thinking that gives the house a 10 percent edge, which would be very high casino standards.
Actually, the house edge is 4.55 percent. Here’s how it works:
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