Hard core broken down gamblers

[oldunclemark]

I was watching the 2006 Al Pacino/Matthew Mcconaughey movie "Two for the Money'

I recommend it highly.......its about sports gambling

..and they spoke of a kind of gambling in half points situations...

.......where you place mulltiple bets on the same game..

For example...you get someone (your local neighborhood pro football social director) to give you the Colts and 10 1/2 against the Bears ealy in the week ......and you take the Colts....

Then you wait and/or later in the week find someone someplace else who has the spread at 9 1/2 on the same game...and you take the Bears for the same amount......

What is that called? (other than 'divorce' if your wife finds out)

Do people do that?

[FireJimCaldwell]

It's basically a form of hedging your bets...

A lot would depend on the payouts of each bet, but let's assume they were the same.

Keep it simple -110 to win 100 units.

In scenario A if you bet 110 to win 100 with the Colts getting 10.5 points

In scenario B if you bet 110 to win 100 with the Bears giving 9.5 points.

You've laid out 220 bucks.

If the Colts win or lose by 9 points or less, you'll receive 210 back , you've lost 10.00.

If the Bears win by 10 points, you'll receive 420 back, you've won 200.00

If the Bears win by 11+ points, you'll receive back 210, you've lost 10.00

If the Bears win by 9 points or less, you'll receive 210, you've lost 10.00.

There isn't a scenario that you lose both bets, but only one where you make money, if the lines are both at the -110 standard.

You have one outcome based on the examples you've given to win both bets... A 10 point Bears win.

[FireJimCaldwell]

Mark, I think the term you are looking for is arbitrage.

Which is basically trying to find a risk free bet, which are few and far between.

[oldunclemark]

Mark, I think the term you are looking for is arbitrage.

Which is basically trying to find a risk free bet, which are few and far between.

Thank you.....I think that's it.

the essence of the movie (and of addiction) is that the essence of betting is that you risk losing...

the fear of losing (not the thrill of winning) is actually the adenalin that drives the gambler.....

winners will bet until they lose...,,,,losers will bet till they lose everything

...if you can find that movie..its well worth watchng

[FireJimCaldwell]

Thank you.....I think that's it.

the essence of the movie (and of addiction) is that the essence of betting is that you risk losing...

the fear of losing (not the thrill of winning) is actually the adenalin that drives the gambler.....

winners will bet until they lose...,,,,losers will bet till they lose everything

...if you can find that movie..its well worth watchng

I've seen it before... It is a pretty good movie.

You are 100% right...

One Sunday I was over at buddies house... We each put 220 on a 1pm game.... We each won 200. He put that 420 on a 4pm game...he won about 380.. I put 220 on a 4pm game and won 200. He put the 800or so on the Sunday night game and crapped out... I put 220 on the Sunday night game and lost as well... The difference for the day he was down 220, and I was up 400.