How the Sports Betting Line is Made by RJ Bell

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. In doing so they attempt to make more attractive the team that is getting less action. For example, the public might have heavy betting interest week after week on a popular college football team such as USC. Examples of non-game factors that would require an adjustment to a team’s power rating are key player injuries and player trades. The power ratings are adjusted after each game a team plays.

Why the Line Changes

How the Opening Line Is Made

Once betting begins, sportsbooks can adjust the line at any time. If we’ve done that, we’ve done our job.”

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10).

Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account. What Is the Line Trying to Accomplish?

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team’s most recent games played and previous games played against that opponent. Of course there is an entire method to the madness on how the opening line is created. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’).

Experts working for the individual books having a strong opinion on the game

Moving the line is the oddsmaker’s effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision.

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. We do this by drawing from past experiences and applying them to current situations.

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“You either have a passion for it or you don’t,” Seba said.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line. Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process.

“The #1 thing for us is to make a line for each game that creates good two-way action.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite. Reasons for such adjustments include:

Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it.

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

“The main objective is that our clients get equal action on both sides,” Seba said. People think it’s much more complicated, but it’s not.”

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Oddsmakers have to determine if any changes are necessary and send out an “adjusted line.”

RJ Bell

©Pregame.com 2006

Website: http://www.Pregame.com

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. By moving the line, sportsbooks can influence how the public bets on a particular game. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). This usually includes having up-to-date power ratings on each team.

Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). .

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a “preliminary” pointspread on an upcoming game.

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line “feels right.” This is where common sense and past experience with how games are bet enters into the picture

Online Gambling’s Good for U.S.

In addition, the technological and human capital required to locate offenders is substantial, as are the costs of prosecution and incarceration. Stopping American online gambling is truly mission impossible, with a vast number of insurmountable challenges facing governments that endeavor to criminalize online gambling.. First, online technology renders prohibition futile. As such, the Internet offers potential consumers convenient and inexpensive access to their favorite gambling sites, introducing competition into an industry once dominated by highly restrictive licensing practices.

In recent years, it’s become clear to a growing number of policymakers, including Senate Majority Leader Harry Reid, that the ban on online gambling is a failure.

Online gambling can be regulated effectively and without excessive cost, to standards that will provide strong protections for consumers and vulnerable players. If the domestic marketplace demands online gambling, which it clearly does, it will be supplied with or without government consent. As an international network, the Internet provides an instant detour around domestic prohibition.

The Internet has revealed the potential of technology not only to dramatically increase existing gambling opportunities but also to introduce new ones. The principal benefit of regulation to online players is the personal and legal security of funds, whereas currently players in unregulated environments have no legal recourse over matters such as suspected cheating and frozen assets.

A great degree of surveillance is required to detect online illegality, and there are significant difficulties in locating, investigating, and prosecuting online offenders. The necessity of maintaining a strong customer base would motivate legal American service providers to offer legitimate, reputable gambling sites.

Another major benefit of allowing online gambling is that competition will be introduced into a highly regulated marketplace dominated by licensed providers who monopolize the gaming market. As other jurisdictions identify the demand for online gambling, they have supplied this service to consumers.

The current prohibitionist law is really a protectionist measure designed to support specific domestic operators, such as the websites run by the horse betting industry. Many of these sites were established in small nations with little or no regulatory oversight.

Patrick Basham is a Cato Institute adjunct scholar. Increased competition results in a more efficient allocation of resources, as gambling providers attempt to maintain and attract new customers.

Federal prosecutors just dealt consumer freedom a terrible hand, shutting down the gambling website Bodog.com and indicting four company executives, including founder Calvin Ayre, for alleged illegal gambling that actually generated $100 million in customer winnings. Many federal and state-level politicians want to legalize online gambling, which Congress made illegal in 2006.

In 2008, the global online gambling market was valued at $20 billion annually, with 50 percent of that demand coming from the U.S.. The online gambling industry is merely another form of commerce where prohibition is the wrong option.

Banning online gambling in the domestic American market simply results in the establishment of Internet gaming sites overseas. Including unlicensed sites, the total rose to 6,000. Not only will this increased competition result in a wider range of gambling activities, it will reduce cost to consumers. With legal online gambling, competition among operators would increase to such an extent that they will be forced by the marketplace, rather than by governments, to offer a reduced house advantage.

Two additional factors contribute to the inevitable failure of prohibition. This is especially true given service providers’ unrestrained access to overseas Internet sites in jurisdictions without online gambling restrictions.

Prohibitionists appear to ignore the fact that most gambling sites, like any reputable business, rely on customer loyalty to remain profitable. He coauthored (with John Luik) the Democracy Institute book, Gambling: A Healthy Bet.

This form of gambling also encourages private sector businesses to develop network capacity and commerce. Ironically the anti-Bodog crackdown comes as the push for sensible regulation of the online gambling industry is gathering serious political momentum.

Gambling is one of the great successes of online commerce. Along with the inefficient use of resources caused by prohibition, there’s the danger of unintentionally increasing the criminal element.

Second, consumer demand for online gambling and the government’s demand for tax revenues will create enormous pressure for legalization in any jurisdiction, such as the U.S., that currently operates a domestic ban.

For example, in 2009 there were 2,381 sites run by 493 companies licensed in 50 jurisdictions worldwide. The ill-advised indictments handed down against Calvin Ayre and his Bodog colleagues cannot alter that fact

Professional Gambling Blog and How to Beat the Casino

That’s a common myth that is often perpetuated to encourage reckless gambling. As a gambler, it is your job to acquire as much knowledge and skill about any [...]. How to win at gambling

July 9, 2014 by Greg Elder

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Gambling has long been associated with “Lady Luck.” Lucky people win money when they gamble, unlucky people lose. Gambling without knowledge most often leads to financial loss