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Message
Does Vegas want even money on both sides of sportsbook bet ?
Posted on 8/14/17 at 3:46 pm
Posted on 8/14/17 at 3:46 pm
I've heard people saying this is true so ideally they break even on the winners/losers but make money off the vig.
I've also heard people say this is false and Vegas does actually gamble on one side or the other sometimes.
So which is it OT elephants? How does Vegas work for real?
PS - to clarify, I'm talking sportsbook bets not table games.
I've also heard people say this is false and Vegas does actually gamble on one side or the other sometimes.
So which is it OT elephants? How does Vegas work for real?
PS - to clarify, I'm talking sportsbook bets not table games.
This post was edited on 8/14/17 at 3:54 pm
19
Posted on 8/14/17 at 3:47 pm to The Mick
Is this about the impending race war?
Posted on 8/14/17 at 3:48 pm to The Mick
Dude
The house always wins.
How do you think it's a billion dollar industry, and you're not?
The house always wins.
How do you think it's a billion dollar industry, and you're not?
Posted on 8/14/17 at 3:48 pm to The Mick
You are right. Theoretically, they will make money if there is equal money on both sides. But sometimes, they might bait more money to one side for whatever reason. It is indeed essentially gambling by the bookmakers.
Posted on 8/14/17 at 3:49 pm to Clyde Tipton
I think it depends on the situation. Vegas would like some money on both sides but they are not going to move a number they believe in just to get money on both sides.
Posted on 8/14/17 at 3:50 pm to The Mick
quote:
Does Vegas want even money on both sides ?
Yes.
Vegas lines are predictions of game outcomes. It is a big psychological mind game trying to peg how the public will bet it. 50/50 is ideal. It is also why lines move.
If $1mil is bet on Team X -3, and 200k on Team Y +3, the line is more likely to adjust to 3.5 in an attempt to get even money on each side.
This post was edited on 8/14/17 at 3:57 pm
Posted on 8/14/17 at 3:50 pm to The Mick
Ideally they'd like a 50/50 split but what they really care about is getting the most money bet on each game as they can. They'll take stances knowing that even if John Q Schmuck wins a lot on the Ohio St game he's not just gonna stop betting at that point. He's going to keep betting and more than likely end up losing it back.
Posted on 8/14/17 at 3:51 pm to Clyde Tipton
quote:
Is this about the impending race war?
"Give me $20 on black, please."
"Sir I'd just like to clarify this a race war wheel, not Roulette."
"Scratch that bet."
Posted on 8/14/17 at 3:52 pm to LSU1018
quote:
but they are not going to move a number they believe in just to get money on both sides.
I think this is exactly why they move numbers-- why take a risk of losing when you guaranteed profit from the split?
Posted on 8/14/17 at 3:52 pm to The Mick
quote:
I've heard people saying this is true so ideally they break even on the winners/losers but make money off the vig.
I've also heard people say this is false and Vegas does actually gamble on one side or the other sometimes.
So which is it OT elephants? How does Vegas work for real?
Well that is why they give odds and points otherwise it would be just about the winner with no odds
Posted on 8/14/17 at 3:53 pm to heypaul
quote:So you don't know the answer I take it? We all know they house always wins overall.
Dude
The house always wins.
How do you think it's a billion dollar industry, and you're not?
Posted on 8/14/17 at 3:55 pm to LSU1018
quote:
but they are not going to move a number they believe in just to get money on both sides.
Then why do they constantly move the #s?
Posted on 8/14/17 at 3:55 pm to NYCAuburn
quote:Makes no sense with respect to the question I asked.
Well that is why they give odds and points otherwise it would be just about the winner with no odds
Posted on 8/14/17 at 3:57 pm to crimsonsaint
quote:
Then why do they constantly move the #s?
When their original "prediction" to get 50/50 was off and the public did not bet as expected.
Posted on 8/14/17 at 4:00 pm to The Mick
Yes they want it in the middle
But if the Sunday or Monday night games determines the take they prefer one side over the other
But if the Sunday or Monday night games determines the take they prefer one side over the other
Posted on 8/14/17 at 4:00 pm to The Mick
quote:
Makes no sense with respect to the question I asked.
If there werent odds or points it would be just winners if the event/bet is won and would be an even prize. $100 bet, $100 prize(plus your bet). The points and odds drive the betting to both sides, hence 50/50 bets ideally
IE LSU 30 point favorite over La Tech. If they didnt care about 50/50 bets, then it would just be on the winner of the game. They put points on it, so you get people to bet on La Tech
This post was edited on 8/14/17 at 4:03 pm
Posted on 8/14/17 at 4:04 pm to The Mick
One book may tip there lines in favor of one side in order to sell to another book and offset their potential losses. They look out for each other that way to ensure each make money.
ETA: By sell, I mean trade. The different books work together more than people realize.
ETA: By sell, I mean trade. The different books work together more than people realize.
This post was edited on 8/14/17 at 4:09 pm
Posted on 8/14/17 at 4:06 pm to LSU1018
quote:
Does Vegas want even money on both sides of sportsbook bet ?
quote:
they are not going to move a number they believe in just to get money on both sides.
That's exactly why they move the number. They want the money to be as close to 50/50 as possible because that guarantees them a profit regardless of the outcome. If they set a line and get heavy betting on one side, they move the line to encourage more bets to be placed on the other side to balance it out.
Posted on 8/14/17 at 4:08 pm to The Mick
Ideally they want even money on both sides.
Vegas doesn't gamble although 3 to 4 people can change a line with just their bets. These are the top few people in the world and books will adjust lines from their bets
Vegas doesn't gamble although 3 to 4 people can change a line with just their bets. These are the top few people in the world and books will adjust lines from their bets
Posted on 8/14/17 at 4:09 pm to The Mick
quote:
Does Vegas want even money on both sides of sportsbook bet
Short answer is yes.
Long answer is it may take a significant swing in the numbers in order to get even money, and those lines can and will be abused by sharps. In other words, moving the line past a certain point may have unintended consequences from big money.
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