It's certainly true that if you want to bet a total of $100, your expected loss will be lower if you bet $5 on the line and $95 behind it ($0.07 expected loss) than if you bet all $100 on the line with no odds ($1.41 expected loss). That expected loss ($1.41 for every $100 pass line wager) doesn't change when you take odds on a $100 bet, but the total wager does. Put max odds or no odds - your expected loss is still $1.41.I agree - the effect of odds is to increase your total wagering volume without increasing your expected loss. If you have a $100 pass line bet, your expected loss is $1.41. Doing so would imply there exists a house edge on the odds bet, since you're coming up with a combined HE on a combination of bets. You could add them together and come up with a combined HE on total action.but that's just weird. In reality, you have a bet with a 1.41% HE then an optional bet with a 0% HE. I just REALLY dislike that - it makes no sense to me. Placing the odds bet (in a weird twisted way) could be considered to lower the house edge.
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