I was disqusted to see from an e-mail I received the following prices for the NBA Championship. It is from a well known book that appear on a number of U.S. sports web sites. Thankfully Madjacks does'nt have them listed. I wont mention their name for litigation reasons, but their name consists of 6 letters of which the last 4 letters spell a well used word in sports betting which is the opposite of backing the favourite.
Odds to Win The 2002/03 NBA Championship Title
San Antonio Spurs 6/5 +120
Los Angeles Lakers 3/2 +150
Sacramento Kings 2/1 +200
Now then, anyone who cares to wager into this book must be off their head. Firstly there are 16 teams competing and admitterly 10 don't stand a chance, but to price these three teams up at a book which is equivalent to 118.8 % is robbery. These three teams should be priced at no more than 108% and even then that's quite steep. I decided to pay their site a visit and noticed that the next team in the betting is the Dallas Mavericks priced at 3/1. Thats another 25 % to the book, in fact their total book was in excess of 155%.
This is clearly no way to do business and I hope that those here at MJ's don't part with their dollars at prices which don't reflect the teams chances of winning outright.
Now would you say that if these teams with their players were to play this championship over and over again one hundred times that the spurs would win a clip over 45 times, lakers 40 times, kings 33 times. Even allowing the books percentage take a more reasonable figure would be as follows;
San Antonio +150
Los Angeles +180
Sacramento + 230
This is less than 108 %, but shows how books offer crap knowing that mugs will still bet the price.
STAY AWAY, VOTE WITH YOUR DOLLAR. BOOKS WANT YOUR MONEY, IF THEY WANT IT THAT BAD THEN LET THEM GIVE YOU WANT YOU DESERVE. A FAIR MARKET PRICE.
THIS PARTICULAR BOOK SHOULD COME WITH A GOVERNMENT HEALTH WARNING
BETTING WITH US IS DANGEROUS TO YOUR WALLET AND YOUR WEALTH
Odds to Win The 2002/03 NBA Championship Title
San Antonio Spurs 6/5 +120
Los Angeles Lakers 3/2 +150
Sacramento Kings 2/1 +200
Now then, anyone who cares to wager into this book must be off their head. Firstly there are 16 teams competing and admitterly 10 don't stand a chance, but to price these three teams up at a book which is equivalent to 118.8 % is robbery. These three teams should be priced at no more than 108% and even then that's quite steep. I decided to pay their site a visit and noticed that the next team in the betting is the Dallas Mavericks priced at 3/1. Thats another 25 % to the book, in fact their total book was in excess of 155%.
This is clearly no way to do business and I hope that those here at MJ's don't part with their dollars at prices which don't reflect the teams chances of winning outright.
Now would you say that if these teams with their players were to play this championship over and over again one hundred times that the spurs would win a clip over 45 times, lakers 40 times, kings 33 times. Even allowing the books percentage take a more reasonable figure would be as follows;
San Antonio +150
Los Angeles +180
Sacramento + 230
This is less than 108 %, but shows how books offer crap knowing that mugs will still bet the price.
STAY AWAY, VOTE WITH YOUR DOLLAR. BOOKS WANT YOUR MONEY, IF THEY WANT IT THAT BAD THEN LET THEM GIVE YOU WANT YOU DESERVE. A FAIR MARKET PRICE.
THIS PARTICULAR BOOK SHOULD COME WITH A GOVERNMENT HEALTH WARNING
BETTING WITH US IS DANGEROUS TO YOUR WALLET AND YOUR WEALTH
