Lines and the manner that sportsbooks fabricate their odds has changed radically through time. The sport betting industry was once dominated by old-school Vegas oddsmakers, but much has changed since the advent of online sportsbooks, in addition to the fine-tuning of sports betting software and calculations.
How exactly do sportsbooks create chances and their lines? In this guide, we will explain everything you want to know about the procedure, the folks involved, and the evolution of the procedure.
One Thing Hasn’t Changed: Oddsmakers’ Aim One thing which has not changed since the days of sports gambling is the goal set by this sportsbooks: equilibrium the action on each side of a wager.
If you have read our guide on reading and comprehending odds, you’ll know that you can calculate the implied probability of an event occurring by simply performing a couple of simple calculations.
However, betting lines aren’t supposed to reflect the accurate and true probability of either outcome. After all, among the greatest approaches to obtaining an edge over your sportsbook is creating a wager when you think there’s a discrepancy between the actual probability of an event and the implied probability determined from a gambling line.
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