If the bookmaker can collect equal wagers on both sides of the bet, they guarantee themselves a risk-free profit due to the vigorish
. However, Levitt (2004) finds that the bookmaker rarely has equal wager amounts on both sides of the bet.
Strumpf found those arbitrage possibilities were invariably wiped out by the vigorish
Unfortunately, he sometimes strikes a self-congratulatory note, as in "Prospero Without his Magic," where Prospero obviously serves as an authorial double, and we perceive that Gilbert is praising himself when he praises him: "He knows/that loneliness is our craft, that death is/God's vigorish
. He does not keep it fine/by innocence or leaving things out." Gilbert is more successful when he takes a tougher-minded distance, as he manages in the cool air of "Foraging for Wood on the Mountain." At the summit of age, "Barren, empty, stone wild," one can see more clearly into the murky interior, and separate out the strands of feeling.
By channeling funds through the SREs, local Communist Party officials can select which borrowers gain access to credit on what terms, and extract their share of the vigorish
, but the effect on the financial soundness of Chinese banks is horrendous.
Depending on the risk, the shy may grant him the loan at an interest rate or vigorish
of up to 20 per cent.
"He also changed the vigorish
Mixed in with discussions about the "vig" (the vigorish
, or interest) and the "tab" (the principal on a debt), there is Scarfo boasting to another young wiseguy about his new computer.
Since lotto-sponsoring states take g of every dollar wagered (i.e., the vigorish
), the jackpot is Pot = R + (1 - g) n, where R is the rollover from previous drawings that did not result in at least one winner.
He moves in a "realm of high audacity,""contriving a fife from its property of danger, putting it together in the constant contemplation of death," in "an independent kingdom of his own law, not society's." The law, he says, "is the vigorish
I pay, the law is my overhead." Each hit's "a planned business murder as concise and to the point as a Western Union telegram.
Adjusting true odds to allow for vigorish
. In Proceedings of the 13th Australasian Conference on Mathematics and Computers in Sport.
The casino's profit comes from the commission, usually referred to as the "juice" or "vigorish
," which is charged on each bet made.
By shading a line, a sports book manager improves the likelihood that the strong favorite fails to cover and therefore increases the chance that the sports book profits not only from the vigorish
it collects but also from its winning naked position on the underdog.
(Transaction costs-or the bookie's "vigorish
"-make the bettor's breakeven rate 52.4 percent.) Twenty-three of those rules were nonrandom at the p < 0.05 level where winning and losing bets constitute binomial trials and the probability of x wins is found by: