Point spread when taking bets on sporting events bookmakers, Ask an Expert

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Point spread

When taking bets on sporting events, bookmakers often include a point spread that awards the weaker team extra points. In theory this makes the outcome of the bet a toss-up. Suppose a gambler places a $10 bet and picks the winners of five games. If he's right about fewer than three of the games, he loses.

If he gets three, four, or all five correct, he's paid $10, $20, and $50, respectively. Estimate the amount such a bettor might expect to lose over many weeks of gambling.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92211831

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