I am new to betting and would like to understand this quote from Sharp Sports Betting on page 22.
Being able to bet at -105 instead of -110 is worth 2.2 percent on your action.
What is the calculation to get this number, so that I can compare to other spread amounts?
Thanks
Jim
If you made 10 bets of $110 at -110 and you won 5 and lost 5 you would bet a total of $1100 and had a net loss of $50 which means the books takeout (your initial disadvantage) was .0454. If you made 10 bets of $105 when the book was offering -105 and you won 5 and lost 5 you would have bet a total of $1050 and you would have lost $25 which means the books takeout was only .0238. The reduction in takeout means that your opening disadvantage was reduced by .0216 or 2.16%. Many books offer this reduced juice on NHL betting and MLB betting in order to attract more wagers because action in these leagues is slow compared to the NFL and NCAAF and NCAAB. You obtain these figures by dividing 50 by 1100 and by dividing 25 by 1050.
