ACC Champion odds

[ramblinwise1]

Vegas Insider's
ODDS TO WIN THE 2009 ACC CHAMPIONSHIP GAME

Virginia Tech 5/2
Clemson 4/1
Florida State 4/1
Georgia Tech 6/1
Miami-Florida 6/1
North Carolina 8/1
North Carolina State 8/1
Wake Forest 15/1
Boston College 30/1
Virginia 30/1
Maryland 30/1
Duke 50/1

Tech, btw, has 50/1 odds of winning the NC and a win total over/under of 8.5.

That's right: The oddsmakers chances that we win the NC are the same as Duke's chances to win the ACC.

UGA 40/1 for NC; win total 8.0; 10/1 odds to win the SEC.


If you would care to bet on the UNLV Runnin' Rebels to win the MNC, you will receive 500/1 odds.

http://www.vegasinsider.com/college-football/odds/futures/

Those odds don't add up to probability of 1.0

 

[gth816f]

Those odds don't add up to probability of 1.0

So? They're betting odds, not probabilities.

 

[gtfan088]

Duke is in the coastal if you are being serious about that joke.

That is the joke.

 

[floridajacket]

Those odds don't add up to probability of 1.0

That is kind of interesting actually. VPI having odds of 5/2 should mean they would win the ACC 2 out of 7 times. Add them all up though and you get a total of about 1.37.

If you assume the relative odds are correct, that means Vegas overestimated the probability of each team winning the ACC by 37 percent. Assuming bets are placed equally and the relative odds are correct, that reduces their total payout significantly.

 

[gth816f]

That is kind of interesting actually. VPI having odds of 5/2 should mean they would win the ACC 2 out of 7 times. Add them all up though and you get a total of about 1.37.

If you assume the relative odds are correct, that means Vegas overestimated the probability of each team winning the ACC by 37 percent. Assuming bets are placed equally and the relative odds are correct, that reduces their total payout significantly.

If the bets are placed equally then the odds are perfect. The distribution of bets is generally determined by the odds. While changing the odds(and thus getting an uneven distribution of bets) might make Vegas more money in most cases, if the wrong team won they'd be screwed. It's all about minimizing the risk and ensuring the house edge.

 

[MeatWrench]

I hear ya! Coastal and Atlantic is like Montains and Rockies. Doesn't make sense.

WTF are Montains?

 

[BarrelORum]

So I can bet $100,000 against Clemson and win $25,000? Seriously, that is easy money right there.

 

[gsu_paintballer]

So I can bet $100,000 against Clemson and win $25,000? Seriously, that is easy money right there.

Doubt it works that way

 

[gth816f]

So I can bet $100,000 against Clemson and win $25,000? Seriously, that is easy money right there.

No. You could bet $100,000 on Clemson and win $400,000 though.

 

[ramblinwise1]

That is kind of interesting actually. VPI having odds of 5/2 should mean they would win the ACC 2 out of 7 times. Add them all up though and you get a total of about 1.37.

If you assume the relative odds are correct, that means Vegas overestimated the probability of each team winning the ACC by 37 percent. Assuming bets are placed equally and the relative odds are correct, that reduces their total payout significantly.

I guess thats why they do it then!

 

[goldeagle]

'88, There you go again, confusing the issue with facts!