The Sportsbook’s Odds System Explained

Odds. Carefully formulated to cause an overload of brain activity to the betting enthusiast over which line to choose. Sure, lines might present you with a myriad of simple numbers – the A team vs. the B team with a plus and minus for each creating the favorite and the underdog, but how are handicapper lines made? What is the logical, numerical basis behind the numbers – and who creates them? This is evident with Asian sports betting sites, such as taruhan online .

For starters, the lines (odds to the layman) is in reference to the point spread of professional sports games. The point spread philosophy is pretty straight forward; suppose you have the New York Knicks at a point spread of +5 and the Milwaukee Bucks at a point spread of -5. What does this mean? In order for the person betting on the Knicks to cash in, they must either 1) win the game outright or 2) lose the game by less than 4 points. In order for the Bucks aficionado to cash in, they must 1) win the game by more than 5 points. If the Bucks win by exactly 5 points, the bet is ruled a ¨tie¨, or ¨push¨ and no money is won on both sides.

Spreads are manmade with the provided help of statistical data. The lines you see in newspaper publications and online betting websites are mostly figured by the Las Vegas Sports Consultants organization. The sanctioning body for all sportsbooks in Las Vegas, they dish out lines daily to online sportsbooks. The Las Vegas Sports Consultants organization is made up by a myriad of sports experts who think up various strategies based on a host of data to determine the best line for any professional sports game.

The odds are more than just a point spread. For starters, these experts take into consideration any insider information (conflicts in the baseball clubhouse that might affect the outcome of a game, weather, the absence of the coach, etc.)Don´t be misinformed – the main determinant in deciding a point spread is numerical and statistical data based on past trends. The intricacies of deciding on a point spread is two-fold: 1) load Las Vegas bank accounts with cash from lost bets and 2) line Las Vegas´ pockets with cash from bets won! Surprising?

In order to minimize sportsbook losses, oddsmakers have to come up with a line that will have one half of the betting public choose one team and the other half choose the other team. Remember, most bettors have to pay \$20 to win \$18, or \$10 to win \$9. When you win, Las Vegas still retails 10% of the original bet amount. Since the majority of most sportsbooks receive their daily lines from the Las Vegas Sports Consultants organizations, it´s easy to understand why some lines are exactly the same at BetJamaica.com and Bodog.com. In essence, making the odds is a tough job – oddsmakers have to create a ¨balance¨ between the favorite and the underdog in order to make money. If too many bettors and gamblers bet on one side, lines must be ¨moved¨ accordingly to encourage betting on the other side. To conclude, crafting the odds means big business in the gambling industry. One half point could make or break half a million dollars deposited into the wide pockets of Las Vegas oddsmakers. Remember, they make money by losing AND winning, wheras you make money by simply winning the game. A bona fide business, indeed.