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What is the Vegas Line?
The Vegas line is a skillfully devised composite of numbers based on team performance statistics and the emotions of the betting public. Oddsmakers refer to this emotional component in the line as "player bias" Described in basic terms, player bias is that extra measure of "value" placed on a team by the public that is based purely on emotion and not attributable to any factual data or statistics. This emotional factor of sports betting can make determining the line a complex task for the Oddsmaker. Besides having to decide how much one team is better than another, the Oddsmaker must also establish the extent of any appreciable Player bias and make the proper adjustments for it. Often these adjustments distort the point spread to a considerable level and forge a definitive edge for any Player willing to go against his emotions and wager contrary to the sentiments of the general betting public. The artificial edge created by player bias can range from as little as a half point to as much as 6 or 7 points. Player bias can initiate a surrealistic moment in sports betting where the Oddsmaker's control over the game becomes an illusion, the Player's perceptions become a reality, and the Bookmaker often ends up becoming the real gambler. Fortunately for the Book, the public is often wrong. Only 4% of the wagering public will actually show a profit at the end of a season. Football and its "parlay cards" are the the most popular and always will be. Each Casino may have slightly different odds or stipulations for its house rules and the Players should always ask questions where needed. Numbers are put on the football games to attrack an "equal amount of betting on both sides so the house can make a profit from the vigorish or juice." The number on a game is not indicative of how much better one team is than its opponent. Here is an example of a Football line: "Oregon '-6 (Minus six)" against Oregon State. If you like Oregon you must give up six points, if you like Oregon State, you will receive six points. Simple math will determine the outcome of your wager after you apply the plus 6 or minus six to the actual final score. A tie is a PUSH or WASH and all wagers are returned. This is why it is important to shop around for your best value. Some Casinos may have this game at 5 1/2 or 6 1/2. Obviously if you like Oregon, you want to give up as few points as possible. If you like Oregon State, you want to get as many points as possible. To place your bet you must pay a 10% vigorish or juice on the game, refundable if you win, gone if you lose. Example: you like Oregon -6 for $100 you put up $110 to win the $100. When you win, you get your $110 back and $100 more for a total of $210. Losing of course retrieves nothing. The Casinos plan is to attract an equal amount of wagers on each side lets say $1100 on each side. The Casino will pay the winner $1000 and clear $100 on the transaction. The Casino is constanly adjusting the line (from say -6 to -5 1/2 or -6 1/2) to get this equal amount of wager on both sides. It is easiest when placing your wager to tell The Clerk your team by number off the board used in each Casino. Example: "$110 on number 57 Oregon." Always check your ticket when at the window for a possible error (most Casinos are happy to make a reasonable adjustment at any time on an error). Parlay Cards, Teasers and Round-Robins are variables of the same type of Football wagering where combinations of games are wagered with varying point spreads, payouts and propositions. The more games you pick, the bigger the payout and the harder it is to win. These combinations or parlays carry either "ties win, ties lose, ties wash" or other stipulations as printed on the card or house rules. Basketball is exactly the same as Football. Point spreads are put on the games to attrack an equal interest. 10% is added to the wager for the vigorish and the outcome is determined mathematically by adjusting your point spread to the final outcome. In all sports there are times when the games are actually even on the board and no point spread. These games are a "pick-em'" or "even" and the actual outcome is the wagering outcome subject of course to the usual 10% vigorish. Baseball is different although even or pick em games occur here also. For Baseball the odds or numbers are made greatly by the starting pitcher. The favored team will be minus and the underdog a plus but not the same plus as the minus! Example: Braves; Maddox -190, Dodgers; Martinez +170....this is a 20 cent line and this slanted edge in numbers does give the Casino its necessary advantage. If you like the Braves and Maddox you must put up $190 to win $100. If the Braves win you get your $190 back and the $100. This example is profound but we are using an extreme example with the best pitcher in baseball ( 4 Cy Yound awards in a row ). If you like the Dodgers and Martinez you put up $100 and if this side wins you get back your $100 plus $170 almost doubling your wager. Combinations and variables are often offered here too. Opportunites are available on all sports on the total points scored in the game. Over or Under. NBA: Celtics-Lakers 207 1/2 you bet either over or under on the total for both sides, overtime included for the usual juice, $110 to win $100. The limits to which you can bet are different at each Casino too ranging from $5 or $10 up to hundreds of thousands. For further information, contact "The Shop" with which you will be playing.
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