What prevents someone from betting $1 on every NFL team to win the super bowl, at the beginning of the season where the odds are all pretty good?
In: Other
It’s called the rake.
If you add up all the odds it should come to one.
The odds of a team winning is 1 in 1. Somebody has to win
Theoretically each team starts with odds of 32/1.
Obviously certain teams may be more favoured, based on history etc.
But if you actually added up all the odds, it would come to 0.97 or so.
So 3 cents of every dollar bet goes to the bookie.
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