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Originally Posted by Great Expectations
It is a bit of a misnomer that Vegas wants bets to be 50/50. Sometimes they gamble as well. Here is some information from the Wynn Sports book.
Wynn sportsbook director Johnny Avello told ESPN that in Vegas alone, an estimated $10 million swung from one side to the other with the late touchdown by the Tigers.
"It was enormous for us," said Ed Salmons, race and sportsbook manager for the Westgate Superbook. "It's just like the Super Bowl. You want the favorite to win because there are a lot of underdog bets on the money line, but you don't want them to cover the spread. So it worked out perfectly for us."
Salmons said the late Clemson touchdown was worth well more than $100,000 to the positive for his sportsbook.
I read a couple of articles yesterday (I can't find them) that said 80% of the bets at a couple of casinos were coming in for 'Bama to cover. The casinos weren't raising the line trying to get more money on Clemson.
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... and that's where they employ the bookies to be on top of things.
Yes, a line doesn't just move to balance 50/50- that's where the book taps into their secret sauce. How much a line moves is a good indication of the book's confidence level of the opening line.
It's a lot easier to find diamond picks in more obscure games if you know lower tier college football or basketball. The sportsbooks also don't see a ton of action on them so it's not a position where they often get overexposed.
Super Bowl Sunday is the biggest betting day of the year. Why? Because every Tom, Dick, and Harry toss $$$ at hunch bets. Vegas loves all the fish, even if they have to pay out to a few
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