4 ms·
Everyone's playing against the house, but the house sets lines and odds with a goal of getting 50% of bettors on either side of the bet for a guaranteed profit.
by woooooo 4y ago
Everyone's playing against the house, but the house sets lines and odds with a goal of getting 50% of bettors on either side of the bet for a guaranteed profit.
- edmundsauto 4y agoThis is a clean narrative and a reasonable starting assumption, but not necessarily accurate. House bookies are trying to maximize their earnings, not limit themselves to the rake. For example, certain teams have fans that bet on the team as a show of support rather than betting wisely. The house will identify these positions so they can take advantage, rather than letting the other side of the bet make most of the cash on bad bets.
- jamesfinlayson 4y agoYep big gambling companies have a lot of analysts on staff - all working on improving models to squeeze more money.