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re: Bookie says they won't play

Posted on 8/31/10 at 12:17 pm to
Posted by Ignatius J. Reilly
Member since Sep 2005
207 posts
Posted on 8/31/10 at 12:17 pm to
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. 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.
Posted by Duckie
Tippy Toe, Louisiana
Member since Apr 2010
24314 posts
Posted on 8/31/10 at 12:18 pm to
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 by Cajun Revolution
Member since Apr 2009
44671 posts
Posted on 8/31/10 at 12:21 pm to
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 by H-Town Tiger
Member since Nov 2003
59171 posts
Posted on 8/31/10 at 12:35 pm to
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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