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why does a bet at -125 for 500 pay off 500? WRONG!

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Prospect
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Posted: #1

I was looking at my bets and I was wondering why the king of covers MLB does not pay off bets at true odds.  For example.  A bet of $500 at -125 if it loses, loses $500.  If it wins it should only pay off $400.  I see bets that are going off at -147 for 500 bucks showing a "win" of $500, which is not correct. 

Anyone have a good idea why the bets in the contest do not pay off correctly.  thanks

 
Prospect
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Posted: #2
If you take the favorite you are playing to win 500 (625/500) if you take the dog you are risking 500 (500/625) good luck !!!

 
Prospect
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Posted: #3
Do you bet the over/under for same game? Could have inverted which bet to payoff.
 
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Posted: #4
-125 means you are wagering 125 to WIN 100. +125 means you are wagering 100 to WIN 125. Hope that clears it up for you. 
 
Prospect
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Posted: #5
Quote Originally Posted by wands:

I was looking at my bets and I was wondering why the king of covers MLB does not pay off bets at true odds.  For example.  A bet of $500 at -125 if it loses, loses $500.  If it wins it should only pay off $400.  I see bets that are going off at -147 for 500 bucks showing a "win" of $500, which is not correct. 

Anyone have a good idea why the bets in the contest do not pay off correctly.  thanks

First of all, a bet of $500 at -125 if it loses, loses $625, not $500. If any favorite wins, the bet returned is $500. This stops everyone from taking all dogs over a certain amount. Say for example a -250, where the most you could win if you bet on the fav  would be $250 or less and lose $1250 or more, instead you would always take the dog where you could win $1250 or more but only lose $500.

 I agree it isnt right, but I think it actually works better for a contest such as this.
 
Prospect
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Posted: #6
Let me correct myself. If everything was correct here, at a -250 if you picked the fav, you would either win $200 + the $500 you bet for a total of $700 or lose $500. If you picked the dog in the same game and it was +225, you would either win $1125 + the $500 you bet for a total of $1625 or lose $500.

The way they have it, if you bet on a fav at -250, you either win $500 or you lose $1125. If you bet on the dog at +225, you either win $1125 or lose $500.

All boiled down, the difference between the real thing and this contest?
bet on fav:
Real- win 700 or lose 500 for a 1200 difference
Contest - win 500 or lose 1125 for a 1625 difference
Bet on dog:
Real- win 1625 or lose 500 for a 2125 difference
Contest- win 1125 or lose 500 for a 1625 difference

Notice difference on fav and dog in contest is the same, while difference in real life is much larger when betting on dog.

 This actually gives you the incentive to take underdogs instead of just picking all favs and I think it makes this contest format more challenging than if everything was in the correct manner.
 
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Posted: #7
You can't add the $$ you're betting to the win. You're not winning the $$ you're betting that $$ is already yours you can only lose it.
 
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Posted: #8
If you bet $500 on a -250 you're only winning $200 but if you lose you lose $500
 
Prospect
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Posted: #9
Quote Originally Posted by qban_gambler:

You can't add the $$ you're betting to the win. You're not winning the $$ you're betting that $$ is already yours you can only lose it.
Yeah, I realized that I messed that up after I posted it, but these forums will not let you edit your own post. And it was late at night and I had already made one mistake and correction, didnt want to keep going on and on.
 
Prospect
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Posted: #10
Just stick to the free contests some of you guys have no idea how to bet on real games with real money. Buy some monopoly money from Toys R Us first before you bet with real money lol.
 
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Posted: #11
Quote Originally Posted by PSUman19:

Just stick to the free contests some of you guys have no idea how to bet on real games with real money. Buy some monopoly money from Toys R Us first before you bet with real money lol.
 
Prospect
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Posted: #12
[Quote: Originally Posted by wands]

I was looking at my bets and I was wondering why the king of covers MLB does not pay off bets at true odds.  For example.  A bet of $500 at -125 if it loses, loses $500.  If it wins it should only pay off $400.  I see bets that are going off at -147 for 500 bucks showing a "win" of $500, which is not correct. 

Anyone have a good idea why the bets in the contest do not pay off correctly.  thanks

Baseball wagering is different than other sports...you have to wager a blend of favorites and underdogs...you have to look at not only starting pitching but other things as well like travel, home/away, night/day...time of game after traveling long distance, standings..etc...etc...etc..etc...my advice on betting baseball. If you don't understand it leave it alone.
 
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Posted: #13
 For future reference to those looking for helpful advice or assistance from others: IMMEDIATELY thank the responders in your thread who kindly answered your question.  Otherwise, you are a POS ingrate.  
 
 
Prospect
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Posted: #14
wear can i meet u to lose a $500 bet at -250 and only pay $1125 ????????
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