About player edges...
About player edges...
Is the player edge formula also considering OLG's House edge of point spread?
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- Site Admin
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Re: About player edges...
hi pedge and welcome to the forum.
From your question I gather that you understand how proline edges are calculated - a combination of a game's win probability and the the proline payout. However in pointspread there is no actual payout provided per game.
This does complicate things and the values shown on the website are really only approximations designed to 'fit in' with the other material and make it easy to spot the better plays.
We can use an average payout by using the formula - Payout^(1/NumOfGames)
or for a 5 team pointspread parlay the payout per game is 20 ^ (1/5) = 1.8206
or for a 3 team 5 ^ (1/3) = 1.710
As you can see the average would vary depending on number of games used. On the site (for OLG) the 5 team payout is used to calculate the edges. A more precise way to calculate pointspread edges is to use the ProlineParlayMaker program available to members - this will accurately calculate the edge for each parlay.
Also more detailed explanations are available at
http://www.prolineplayer.com/Reports/Po ... d-Odds.php
and
http://www.prolineplayer.com/Articles/P ... Basics.php
hope that helps
PLP
From your question I gather that you understand how proline edges are calculated - a combination of a game's win probability and the the proline payout. However in pointspread there is no actual payout provided per game.
This does complicate things and the values shown on the website are really only approximations designed to 'fit in' with the other material and make it easy to spot the better plays.
We can use an average payout by using the formula - Payout^(1/NumOfGames)
or for a 5 team pointspread parlay the payout per game is 20 ^ (1/5) = 1.8206
or for a 3 team 5 ^ (1/3) = 1.710
As you can see the average would vary depending on number of games used. On the site (for OLG) the 5 team payout is used to calculate the edges. A more precise way to calculate pointspread edges is to use the ProlineParlayMaker program available to members - this will accurately calculate the edge for each parlay.
Also more detailed explanations are available at
http://www.prolineplayer.com/Reports/Po ... d-Odds.php
and
http://www.prolineplayer.com/Articles/P ... Basics.php
hope that helps
PLP
Re: About player edges...
Hey PLP,
I was referring to the payout for the pointspread. If you visit this site, http://wizardofodds.com/games/sports-betting/ and scroll down a bit to the heading "Parlays". You can see that the payout for a 5 team parlay and the house edge. We only get paid (wager * 20), while we are supposed to be getting paid out more.
I was referring to the payout for the pointspread. If you visit this site, http://wizardofodds.com/games/sports-betting/ and scroll down a bit to the heading "Parlays". You can see that the payout for a 5 team parlay and the house edge. We only get paid (wager * 20), while we are supposed to be getting paid out more.
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- Site Admin
- Posts: 2076
- Joined: Sun Mar 31, 2013 6:33 am
Re: About player edges...
Yes I understand.pedge wrote:Hey PLP,
I was referring to the payout for the pointspread. If you visit this site, http://wizardofodds.com/games/sports-betting/ and scroll down a bit to the heading "Parlays". You can see that the payout for a 5 team parlay and the house edge. We only get paid (wager * 20), while we are supposed to be getting paid out more.
The Olg uses a much higher house edge then bookies do. The house edge for pointspread parlays generally runs at about 40% and yes this is accounted for in the edge calculations. You can find the house edge for OLG Pointspread in the column labelled 'Win Expect' here
http://www.prolineplayer.com/Reports/Po ... hp#Ontario
As I say though, this is accounted for in the edge calculations
PLP
Re: About player edges...
thank you for the clarification!