Vegas cleaned up on this game

Smelly McUgly · Feb 2, 2014

People betting on the Broncos to cover...ouch.

SeaWolv · Feb 2, 2014

Ahhhhh hahahaha!!!!!!

Donkey fans LOLz!!

HawkWow · Feb 2, 2014

Smelly McUgly":3kgfj0v5 said:
People betting on the Broncos to cover...ouch.

Under nonsense. For the 100th time, Vegas sets a line that will receive equal action on both teams, then takes the juice off the top. Please post responsibly.

Sarlacc83 · Feb 2, 2014

Think about the bets for Super Bowl MVP. NO ONE won.

vant · Feb 2, 2014

That's not true. At the palace station, they were seeing 80/20 action on broncos.

Vegas was betting on seattle.

etanate · Feb 2, 2014

Peeps who bet the field won...

HawkWow · Feb 2, 2014

vant":20z8vjgr said:
That's not true. At the palace station, they were seeing 80/20 action on broncos.

Vegas was betting on seattle.

OK..LOL.

HawkWow · Feb 2, 2014

etanate":fkbgi8x6 said:
Peeps who bet the field won...

Are we talking dice, horseracing? What field are you talking about?

People that bet Seattle won tonight. And good on 'em!

EDIT: Please don't bother replying to anything I've said in this thread. I wasted copious amounts of time trying to explain this simple concept, of football wagering, in the last thread. Some got it, some didn't. I cared then. No longer do.

GO HAWKS!

drrew · Feb 2, 2014

HawkWow":32nvf516 said:
Smelly McUgly":32nvf516 said:

People betting on the Broncos to cover...ouch.

Click to expand...

Under nonsense. For the 100th time, Vegas sets a line that will receive equal action on both teams, then takes the juice off the top. Please post responsibly.

For the 101st time, that's simply not true. Reports were that as of last night, 60%+ of action had been placed on the Broncos (edited, initially wrote Hawks), this was being reported by multiple writers across multiple sites.

drrew · Feb 2, 2014

Just to provide further ammunition to blow up this assumption that the line is set to receive equal action and the sportsbooks don't stand to win or lose big based on the result is this quote from Kevin Bradley, the sportsbook manager for Bovada

""Not to be greedy, but a nice little 28-27 result would be optimal. Amazingly, we need the OVER."

Laloosh · Feb 2, 2014

Odds on Harvin running his first return back for a TD was 500 to 1. Guy I know bet $150 he'd do that very thing and he did... Wow.

jewhawk · Feb 2, 2014

drrew":36d8kd4d said:
HawkWow":36d8kd4d said:

Smelly McUgly":36d8kd4d said:

People betting on the Broncos to cover...ouch.

Click to expand...

Under nonsense. For the 100th time, Vegas sets a line that will receive equal action on both teams, then takes the juice off the top. Please post responsibly.

Click to expand...

For the 101st time, that's simply not true. Reports were that as of last night, 60%+ of action had been placed on the Seahawks, this was being reported by multiple writers across multiple sites.

The reports I saw were that 60%+ of the action was on the Broncos. Hence, the books potentially cleaning up huge with a Seahawks cover.

You're right, though, that Vegas doesn't set lines to receive equal action on both sides. In Giants-Patriots Part 1, Vegas lost $2.6 million when 60% of the money was on the Giants and they covered/won. If the reports about heavy Denver action are true, Vegas could have potentially lost if the Seahawks didn't cover.

This is a really long (over 20 pages) but great paper discussing the sports betting market. I'd strongly recommend it for anyone interested in the subject. A snippet:

Two alternative hypotheses could explain the failure of the bookmaker to equalise wagers on the two sides of the spread. The ﬁrst possibility is that the bookmaker would like to balance the bets but is unable to do so because it is difﬁcult to predict accurately what team bettors will prefer. The second hypothesis is that balancing the wagers is not the objective of the bookmaker. Indeed, as demonstrated earlier, if bettors exhibit systematic biases, a proﬁt maximising bookmaker does not want to equalise the money bet on both sides. Rather, the bookmaker intentionally skews the odds such that the preferred team attracts more wagers but wins less than half of the time.

Vegas cleaned up on this game

Smelly McUgly

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