Re: do your math please
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You pay 1.414% on the amount you bet on the pass or come.
The fact that you make an additional wager in odds doesn't change that. Trying to combine both bets and coming up with an "overall" EV distorts things. It is a false way of looking at things.
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This is simply wrong. It's stated in Mason Malmuth / Lynn Loomis book "fundamentals of craps" as well as other texts on the statistics of gambling. The odds bet does in fact lower your overall vig. My copy is loaned out or I would quote the exact page for you, but it's only $5 anyway so perhaps you should pick it up. The layman's explanation is that you're increasing your wager once there's a point and getting better overall odds than if you'd just left your pass line out with no odds. Since there is by definition no vig on the odds, the only place that the overall reduced vig can be coming from is your pass bet.
al
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Wagering $2 on the pass line (or come), your expectation is -$0.02828, no matter how much you wager on the odds bet.
Your EV described as a *percentage* of the *total* amount wagered (pass + odds) will change depending on how much you bet on odds, of course. But your absolute EV in $ remains the same: -$0.02828.
In other words, you are not gaining anything in terms of $EV by making an odds bet - you are simply increasing variance.
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