Odds makers try to predict which professional and college football teams will win and by how much

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Odds makers try to predict which professional and college football teams will win and by how much (the spread). If the odds makers do this accurately, adding the spread to the underdog's score should make the final score a tie. Suppose a bookie will give you $6 for every $1 you risk if you pick the winners in three games (adjusted by the spread) on a "parlay" card. Thus, for every $1 bet, you will either lose $1 or gain $5. What is the bookie's expected earnings per dollar wagered?
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Statistics For Business And Economics

ISBN: 9780321826237

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

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