For shifts of finite type, we relate the waiting time between two different orbits, one chosen according to an ergodic measure, the other according to a Gibbs measure, to Billingsley dimensions of generic sets. This is achieved by computing Billingsley dimensions of saturated sets in terms of a relative entropy which satisfies a pointwise ergodic result. As a by-product, a similar result is obtained for match lengths that are dual quantities of waiting times.