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re: Bookie says they won't play
Posted on 8/31/10 at 12:17 pm to Zach
Posted on 8/31/10 at 12:17 pm to Zach
quote:This.
Vegas is all about balancing the book.
The whole point of a moving line is to ensure that the bookie has an equal number of losing bets and winning bets so that the losers cover the winners and the bookie takes the vig. If one side is being bet more than the other, the line moves to entice more bets on the other side to even things out. The whole idea of "Vegas taking a beating" from an unlikely outcome is simply incorrect.
3
Posted on 8/31/10 at 12:18 pm to Ignatius J. Reilly
quote:
The whole point of a moving line is to ensure that the bookie has an equal number of losing bets and winning bets so that the losers cover the winners and the bookie takes the vig. If one side is being bet more than the other, the line moves to entice more bets on the other side to even things out. The whole idea of "Vegas taking a beating" from an unlikely outcome is simply incorrect.
Exactly. Vegas is trying to "win" per say. They are balancing and increasing their odds.
Posted on 8/31/10 at 12:21 pm to Ignatius J. Reilly
quote:
If one side is being bet more than the other, the line moves to entice more bets on the other side to even things out.
I never used a bookie because I always had this picture if I bet once and won big and then never bet again...I'd end up at the bottom of the Mississippi River.
Posted on 8/31/10 at 12:35 pm to Ignatius J. Reilly
quote:
Vegas is all about balancing the book.
This.
The whole point of a moving line is to ensure that the bookie has an equal number of losing bets and winning bets so that the losers cover the winners and the bookie takes the vig
That's the theory, but it don't work that way in real life. Far more is bet on NFL games, usually the best outcome for Vegas is for the favorite to win outright, but not cover. Most people usually bet favorites, but they have greater exposure if underdog wins outright.
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