How to calculate vig at matchbook?

AgainstAllOdds · 08-05-2008, 01:47 PM

I was just wondering how to go about doing this. I know they charge a 1% commision on bases and 2% on almost everything else, but there still has to be vig(even if not intented by the person offering the bet). How would one go about finding this?

Would you find the no vig price then add the 1% commision?

MrX · 08-05-2008, 02:00 PM

Quote:

Originally Posted by AgainstAllOdds

I was just wondering how to go about doing this. I know they charge a 1% commision on bases and 2% on almost everything else, but there still has to be vig(even if not intented by the person offering the bet). How would one go about finding this?

Would you find the no vig price then add the 1% commision?

In the case of an underdog, multiply the available odds by (100%-commission%). For a fav, divide by (100%-commission%).

So, a MLB lineset of -150, +149 is the equivalent of -150/.99 and 149*.99, which is equal to a -151.515, +147.51 lineset.

For 2% commission use .98 instead of .99.

Ganchrow · 08-07-2008, 03:58 AM

Not surprisingly, Mr. X is right on point.

You might also wnat to check out this post which links to another post on factoring in exchange commission.

Jacey · 08-07-2008, 10:05 AM

I made a spreadsheet for matchbook, I can send if anyone is int

Not using matchbook myself, since I play MLB action, but can't wait to use it for foots

Ganchrow · 08-07-2008, 10:59 AM

You can also find these functions (among many others) in my Simple VBA Sports Betting Functions Template for Excel.

Of particular interest to the OP would probably be the =E2S(US exchange odds, exchange commission {default = 1%} ), which calculates sportsbook equivalent US odds given US exchange odds and commission, and =ExchUS2Hold(range of US Odds, Commission) which calculates theoretical hold given a range of exchange odds and commission.

AgainstAllOdds · 08-10-2008, 01:42 AM

...wow...the material and help here are amazing. Thank you Mr. X and Ganch for the helpful info!