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Aug

22

2018

Sports Betting and House Edge

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: Let's say you and I each bet $11 on opposite sides of a game. Between us, we risk $22. The winner gets his $11 back plus $10 in winnings,…

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…

Aug

14

2018

Sports Betting 101

The legalization of sports betting no doubt will bring throngs of new players who need to know the ropes before they bet. Old hands who have wagered in Nevada or online already know the basics, but for those finding a new betting experience in Mississippi, here are a few of the basic ways to bet. **Point spreads: Most sports fans are familiar with spreads. On a sports book board, you might see a New England Patriots-Buffalo Bills NFL game listed with a +3.5 next to Buffalo. That means the Patriots are favored, and if you bet on them, they must…

The legalization of sports betting no doubt will bring throngs of new players who need to know the ropes before they bet. Old hands who have wagered in Nevada or online already know the basics, but for those finding a new betting experience in Mississippi, here are a few of…