The Accumulator Tax - Why Do We Still Build Accumulators When We Know the Math?

SharpEddie47

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Going to lay out the math first because I want everyone looking at the same numbers.

Five-leg accumulator. Each selection at evens. Each market has 5% house edge.

Fair probability of each leg winning: 50%.
Actual implied probability after house edge: 52.6%.

Your true probability of winning a five-leg acca at evens: 0.5 to the power of 5 = 3.125%.
The acca pays at 31/1.
Fair odds for 3.125% probability: 31/1.
Odds you actually get after the house edge compounds across five legs: approximately 24/1.

You're getting 24/1 on a 31/1 chance.

The house edge on a single bet: 5%.
The house edge on a five-leg acca at evens: roughly 22%.

The math is unambiguous and has been available to anyone who looked for about forty years.

Saturday football accas are a British cultural institution regardless.

I have never built an acca in twenty years of betting.

I want to understand why people who know this do it anyway. Genuine curiosity. Not judgment.
 
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