Changing your mind on a bet?

If you were to make a bet, then decide that you want to switch the bet to the other side, or cancel the bet.. How long would one have to do this after the bet has been placed?

Is it different from online books?

Thanks

 

You'd have to buy it back aka bet the opposite and eat the vig

Eagles -7 at -110 is my bet and if I decide that I don't want it because Sam Bradford was injured by a gust of wind then I'd take the other team and eat that vig on the Birds.

 

Online and vegas books are the same. You cannot cancel a bet unless you bet the other side but you would still lose the juice. Now if you have a "nice" local bookie, thats a different scenario. He might let you cancel the play as long as the line does not move.

 

You have until you leave the window. Online you better call ASAP if you notice a discrepancy with what you wanted to bet

 

I was given the wrong ticket once, noticed it 30 seconds after I left the window and was out of luck.

 

Wow, that's crap. Last month I was accidentally given a money line bet on NBA when I was wanting the spread as I was also betting NHL money lines at the same time which may have led to the confusion. I left the counter, flipped through my tickets and noticed before leaving the book. It was 30 seconds at most. I go back to the same clerk, she immediately canceled the bet and issued the correct one. But to possibly avoid being stuck with the bet in the future, I guess I should flip through them before leaving the counter.

 

Always a good practice to spend that extra 30 seconds at the counter. Trust me.....been there done it.

 

On one of my first trips I had a Mirage ticket writer give me all RLs in a baseball parlay not the MLs like I'd wanted. It was all dogs too and it actually hit! So my not paying attention made me $500!

 

Rocky, can you explain how this bet works. I understand that you are betting on the Eagles minus 7 points but what does the -110 stand for?

 

Fortunately, in my case it didn't matter. It was a parlay that was a loser even without the mistake.

 

Sure!

The casinos house edge (aka vig or juice) is built into that. So if I wanted to bet on the Eagles -7 and it was at -110 I'd have to bet $110 to win $100. It's not always -110 though...sometimes it'll be -115 or -120 or even higher. If you see a really lopsided MLB moneyline bet sometimes they'll be as high as -210 (bet $210 to win 100).

Edited to add...on the other side if you're playing the underdog and see a line like +150 then you'd win $150 for your $100 bet

 

Ah, now I understand it. I assume you don't have to bet $100 though, you can bet what you want but if it wins you get paid out pro-rata and in your example of -110 this is fractional odds of 11/10?

 

Correct. Then the vig is taken from your payout. So you'd bet $100 and win $90ish