K
katiekat29
Rising Star
Bronze Level
Hi,
Something I've always been confused by is how the Rake Taken affects the edge.
I've seen graph comparisons in the past but that doesn't seem to help what I'm trying to work out.
For example, when I've done some Sports Betting. The Bookmakers were always taking about a 8% edge. For example, offering odds (put into %'s) of 55.5% when they believe the odds to be 51.5%.
Meaning you'd need to have over an 8% edge on any bets you'd make to actually be plus ev.
1) Is it as simple as a 5% Rake, means they're taking 5% edge away from you, so you need to beat the game by more than 5%?
2) How does this affect the pot odds when we look to call or make a raise?
Something I've always been confused by is how the Rake Taken affects the edge.
I've seen graph comparisons in the past but that doesn't seem to help what I'm trying to work out.
For example, when I've done some Sports Betting. The Bookmakers were always taking about a 8% edge. For example, offering odds (put into %'s) of 55.5% when they believe the odds to be 51.5%.
Meaning you'd need to have over an 8% edge on any bets you'd make to actually be plus ev.
1) Is it as simple as a 5% Rake, means they're taking 5% edge away from you, so you need to beat the game by more than 5%?
2) How does this affect the pot odds when we look to call or make a raise?