Overround / Over-round
The editor of this blog likes to eschew obfuscation and espouse elucidation, and a couple of issues about "over-round" have been annoying me. First of all, should the word be "overround" or "over-round"? Search the web, and both spellings can be found. Not the biggest of concerns, but without the hyphen, Blogger underlines it in red although MS Word has no problem with it. Since I have an aversion to anything red, my preference is to use "over-round". But the bigger issue is how to use the term accurately. I have seen some sources refer to an over-round of, say 103%, while other sources use 3% or 1.03. Logically, using the 3% / 103% as an example, the bookmakers' round is 103%, while the OVER-round is the 3%, since a 100% round would be a fair book. My bible for all, or at least many, things betting related is Leighton Vaughan Williams' Information Efficiency in Financial and Betting Markets and here the spelling is "over-round...