airtroop
Sun Belt Nationalist
Posts: 2,256
Joined: Feb 2009
Reputation: 48
I Root For: South Alabama
Location: Mobile, AL
|
RE: Opening Lines Week 1
(06-18-2015 12:54 PM)Bobcat87 Wrote: (06-18-2015 11:30 AM)airtroop Wrote: (06-18-2015 09:47 AM)CajunFan3406 Wrote: (06-18-2015 09:12 AM)airtroop Wrote: (06-18-2015 08:48 AM)trueeagle98 Wrote: It usually is easy money. That may be why the bookies are having a hard time. Of course the spread is more influenced on them trying to get people betting as much as them trying to predict the outcome. Of course listening to WVU fans, you would think anything less than 35 point spread is insulting to them. Go ahead and set it that high. I'll take the money and a win in hilly billy land.
Vegas sets and moves the lines in an effort to make 10% on each game in "juice", a.k.a. "vig". The intent is to have (for example) just as many dollars wagered on Ohio -11 and Idaho +11. If there were $10M bet each way, Vegas makes 10% on the entire $20M, which is why the lines move up and down regularly. If 80% of the money is wagered on Ohio -11 and 20% on Idaho +11 and Ohio covers, Vegas (and bookies) only make 10% on the Idaho bettors (+$40K) and LOSE 100% of the Ohio wagers (-$19,960,000) resulting in a disastrous Vegas loss of -$19,920,000 on the deal.
Individual bookies, at least the successful ones, do the same thing which is why their lines might be different than the Vegas lines at any given time. Here's an example. Down here in LA (Lower Alabama) everybody takes Auburn and Alabama to cover the spread, so since Alabama doesn't have legal sportsbetting they (the bookies) don't have to compete with Vegas and therefore; they may increase their line to Alabama -20 while Vegas has -15 to encourage more bettors to take the underdog.
The books don't set the lines at what the individual oddsmakers really THINK will be the result as much as they go by what they THINK will entice bettors to lay down equal money on both the underdog and the favorite.
Just in case anybody was wondering
***FULL DISCLOSURE: I am a professional sports handicapper (NOT to be confused with a bookie. My profession is 100% legal in every state).
Thanks airtroop. Glad you could explain this clearly. Too often people see these lines and misinterpret their meaning (in other words, disrespecting your team, thinking highly of your team, etc.). When they're really there to entice bettors as a whole to put equal money on both sides.
(06-18-2015 10:55 AM)Pounce FTW Wrote: (06-18-2015 09:52 AM)trueeagle98 Wrote: yep, just tiresome to be looked at as such an underdog just cause another fan base will bet big that they win big. It's ok, just makes it easier to earn some money by beating the spread. I prefer the win, but a little cash allows one to buy more drinks to forget the loss.
I'm sure it would already be exploited if it's really a phenomenon, but I've often wondered if there are some nationally popular teams (e.g. Cowboys, Notre Dame) that one could make money on just by always betting against vs. the spread. I don't doubt that a cursory glance at these teams' success vs. the spread would tell me I'm way off, but it wouldn't surprise me if, over the course of years at least, there are some teams with trends like this due to popularity.
Nope. A team's popularity or non-popularity (i.e., public perception) is actually already factored into the algorithms. Each team in each matchup is literally assigned a point value by both we handicappers (predictors against the spread) and the oddsmakers (inventors of the spread).
Other factors among way too many to list here include home field advantage (everyone thinks it's 3 points in the NFL but that's just an approximate average but the Saints were +4.5 pts LY while the Titans were +1.8), star players missing (Tom Brady and Aaron Rodgers were both worth -4 points apiece LY), "Big Name" / public perception (LY "Packers" automatically had +2.5 points worked into the typical algorithm for just being "the Packers"), etc., etc., etc., blah-blah-blah.
To your original question, just watch the football pre-game shows and see just how awful almost ALL of these former coaches, players, GM's, etc., are at predicting straight up winners much less picking against the spread. Most of them would lose their a$$e$ to the bookies and Vegas.
***FULL DISCLOSURE: I don't play a handicapper on TV.
There's a reason they call it "Lost Wages," Nevada. . . .
Yep. As a pro handicapper, and one of the best in the world (as ranked by independent capper monitoring sites) I will admit NOBODY gets rich betting sports. My goal is to deliver a 10% season-long ROI (return on investment or pure profit after the juice) to my clients. I've gone as high as +17% in a great NFL year and as low as +5% in a bad NBA year (but not even the sharpest banker can give you a 5% ROI in a few short months).
A $20 per wager bettor makes 10% on his season and a $1M per bettor makes 10% (+ or -) as does the $100 bettor. The rich get 10% richer and the average gambler makes a little bit of extra money but the point is my clients beat the stock and money markets as an investment. The jerks who are ranked HUNDREDS of spots below me are the ones who do those radio ads tempting the fools to believe they can get rich by buying their picks. I despise them because they give the industry a bad name by delivering a substandard product.
Here's a fantastic example to prove my point. Everybody getting tired of that blowhard Jonathan Stone and his constant national sports radio hype? The guy who "Knows the outcome before the game has even started"? Find out where he's ranked FOR REAL (hint: go to 400 and scroll down). I'm at #87 in the world at this moment. He's rich, I'm not... because I'm honest... but at least I can live comfortably in my own skin.
EDIT: Typos, typos, typos!!!
(This post was last modified: 06-18-2015 05:10 PM by airtroop.)
|
|