Originally Posted by gts
OP do you realize that vegas moves the odds to protect their interests? they offset possible losses by setting the line in such a way that it's nearly win win for them,
This is why they are called bookmakers or bookies. Their job is literally to balance the books. It's an accounting job.
Say I have the Lakers by 3 as the line for two days and my book looks like this
My book is out of balance. I have to make it more attractive for people to bet on the Heat. So I might move the line to Lakers by 4.5
Another day goes by and now my book looks like
It's still out of balance, but it's better.
Then say the day of the game, news comes out that Bynum may not play. All of sudden, everyone starts bettting the Heat and my book might be
I might need to drop the line back down to Lakers by 3.5 to balance might book.
Why is balancing the book so important? Because you want to pay out the same amount regardless of who wins.
Wait, how do you make your money? You make your money from the rake.
A bettor has to bet $110 to win back $100. $10 is the rake.
Bookies don't care who wins, It's an accounting job. Successful bookies often don't care about sports. Emotions get in the way of the job.