Quote:
And so is the takeout. Maybe my question wasn't clear. Why is a 15% rebate on a 25% takeout bet better than a 7% rebate on a 17% bet? It seems that either way, you're more or less betting into an effective take of 10%.
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Check out Rutgers' answer. I didn't look at it real closely but he seems to have it right.
But permit me to simplify...
Suppose we asked the question differently... Suppose we asked the question, which is better? A 10% takeout or a 20% takeout with a 10% rebate?
The answer is that you only gain with the lower take% when you win. You gain with the rebate on every bet.
Dave