The Bettor Edge with The Promoguy: How he keeps making money through sports betting

Promoguy is here and he's ready to help you start winning money in sports betting, especially with the 2021 NFL season right around the corner!

What is vig? What is EV? What the heck is the Promoguy talking about and how does he keep making me money?

Vig: the best way to think about it is that it’s the amount Vegas expects to make on any given bet. If you or I were going to flip a coin with a Sportsbook, they theoretically would make it -110 for heads/ -110 for tails. This would imply the 0 vig line to be even money (50% probability). The vig would be equal to the payout of the bet minus the 0 vig line times the probability of winning = (100/1.1 -100) *.5 = ~4.55%

EV: the expected value of your bet based on the 0 vig line (50% in coin flip case). So if the book gave you +120 odds on tails, the EV would be (120-100) * .5 = 10% or $5 on a $50 bet.

While on one singular coin toss this may not sound that great, over time with hundreds of coin tosses at +120 we expect to (and have via +EV sports betting) make a lot of money in a low risk way. Yes, the day to day risk may not be small. However, by betting this way you are not only statistically very unlikely to lose money over months but very likely to make money over time! 

A hypothetical example: Cowboys +7.5 and bills -6.5 parlay boosted to +350.

Both of these spreads are perfectly -110 balanced on each side - just like the coin toss - as of this writing. The normal parlay odds would be (110/210*110/210=27.43%) +265 and the 0 vig parlay would be (50% *50% = 25%) +300. This is no different than the implied odds of 2 coin flips both landing on tails. Instead of +300 (25%), we are getting a boost to +350 (22.2%). The EV would be (boosted odds - 0 vig odds) multiplied by the implied probability of winning bet = (350-300) * 25% = +12.5% EV.

This means that if we bet $50 on this bet we would expect to make $6.25 per $50 wagered. If we make 100 of these bets we would expect to make $625 on those 100 bets.

@ThePromoguy123 looks through all of the boosts and promotions on FanDuel Sportsbook, DraftKings Sportsbook, and (sometimes) Caesars Sportsbook to help identify the must bet opportunities based on their EV. Take a look, follow some bets, and start making money alongside the community if you are interested in +EV betting!

All of Promoguy's favorite sportsbook offers that are live right now, including the ridiculous one below!

Both new and existing Caesars Sportsbook bettors can claim a free NFL jersey, just for betting $100 on NFL bets throughout the month of September.