Quote:
Originally Posted by jawhoo
How does the vig work for a risk-free bet? Do they just treat it like you wagered $1K, or do you win $1K if right no matter what?
So you risk $1K. If it wins, that's it, you pay the Vig on your winnings, so if it hits at -118 we win like $847. If it loses, you get your $1K loss back in some sort of site credit. Fan Duel is really good in this regard as the $1K credit you get back is just sports book credit that plays the same as cash, you just can't withrdaw it. But you can make bets with it, and if they win it returns your stake and your winnings back as cash. Technically to maximize the EV of it you are supposed to bet on a longshot with high + odds. But honestly the EV is so good no matter how you do it, and it's more fun to bet on something that has at least a decent chance of winning that you have an otherwise vested interest in.
Some sites return the "risk free" winnings in terms of free bets, which sucks, because with free bets you don't get back the stake in cash. So the value is roughly half of what site credit is.
Quote:
Originally Posted by jawhoo
[Actively introducing your wife to sports gambling and encouraging betting on/believing in the lions, wcgw? ]
The good news is I don't think she has any interest in sports betting. She's really just there for the slot & blackjack promos. But the $1K free bet is too good to pass up, so we put it on the Lions tonight.