An SGP is a same game parlay. So a parlay of 2 or more events in the same game. Parlay odds are normally determined by multiplying each of the individual lines. For example, two -110 lines parlayed give out +264 odds (11/21*11/21 = .274. 1/.274 = 3.64 Or +264). SGPs are different because the two events are not independent (in most cases anyway) and there can be positive or negative correlation between them, because of the amount sportsbooks try to charge for the correlation (on top of the vig of the two legs) varies dramatically. Some sportsbooks decide to charge a lot more for their lack of knowledge around correlation than others.
The most important aspect is taking the total vig of a two player SGP market so we will test this out with an NFL pairing (just to make sure there is no sports bias). We are hoping that the parlays average out to close to +264 as this will be a pairing that shouldnt require much charge for correlation as these are main player markets on a major event where the correlation should be relatively known. Lets see how each book does:
NFL: Easton Stick (chargers qb) passing yards / Ekeler rush yards
So there you have it - Fanduel is by far the worst with double the vig of Bet365. Draftkings is second worst as the two leaders in market share are also the two worst places to place SGPs. They are telling you they are so non confident in their ability to account for the correlation between a qb passing yard and a rb rushing yards that Fanduel needs to charge.
Here are my rankings with explanations:
1a. Bet365 - Essentially tied for lowest juice, plenty of options, and i like the dynamic component where you can see what the sgp will be without clicking the second one
1b. MGM - Essentially tied for lowest juice, plenty of options, and they don’t punish you for highly likely legs.
2. ESPN - Next up for lowest vig goes to ESPN which also has a ton of options
3. Caesars - I drop Caesars below ESPN because of they way they price pushes. If you bet something with over 8.0 runs it prices the same as over 7.5 runs but still pushes at 8. Its a horrible rule and drops them below ESPN despite everything else being the same
4. Kambi - Kambi is next up for SGP ranks. Nothing really wrong with them but it is silly they don’t allow you to SGP unders.
5. Draftkings - Would like to see less vig(18.97% for a place like draftkings should be more competitive with the low to mid teens of the 4 ahead of them), more options, and less vig on alt lines
22. Fanduel - 22.75% 4 way market vig in the NFL is embarrassing. They also have the same horrific rules around pushes in baseball and seems to come on and off for other sports. They charge extra for likely legs (an embiid over 33.5 -110 when combined with Embiid over 5.5 rebounds turned it to -115) when there is no reason to do so the second leg can only lose.
Bet365:
BetRivers:
BetSafe:
Unibet Sportsbook:
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