billw55, on 2015-November-25, 10:56, said:
Interesting. So, why would the books want to have such a deep position on Dallas? I mean if "almost all square money is on Carolina", aren't they taking a big risk? What for? Unless they have some really valuable inside info like an injury to Netwon or something, I don't get it.
They don't "want" to have a deep position on Dallas. Sometimes the line is just much different than the public would think it should be. Like if the line opened at Car -3, I'm sure that most square bettors would still want to bet on carolina, they are 10-0, dallas is 3-7, carolina is coming off a game where cam threw his fifth touchdown of the game in like the first few minutes of the 2nd half! They look great and are improving. The media/espn narrative loves carolina right now blah blah.
So why wouldn't they open the line at Car -3? There are many reasons. For starters, if the correct line is really supposed to be pick em, then that is a massive edge for people who know that. The sharps are going to bet way more money than usual because the line is so bad. True there are far more squares but the people who are professional sports bettors are going to bet way more money if the line is that bad. No problem, you can just move the line right? Well if you move it to pick em you're going to get people arbing and betting both sides. Also, lets say the books were actually shading the opening line based on public opinion, it wouldn't take a genius to just figure out what public opinion is on a certain line and bet the other way and be profitable. So now you're going to get people doing that.
The point is you cannot control getting 50/50 action on a side. You cannot control how people bet, and the worse your line is the more you are exposing yourself to being exploited.
The best way to be "50/50" is to make a line that is as close to a coinflip as possible. True you may have positions on the game if it does not reflect how the public would think (as here), but in the long run as long as you don't have too big of a position where you might go broke you are going to make the most money by doing that. It is far easier to make a line that is 50/50 than to try to shade the line and hope that sharps don't come in and kill you.
Edit: Forgot one more important point. If you decide to make a shaded line, that does not mean other books will. Vegas casinos could collude (since one company makes the line for almost all of them), but offshore books are a different story. Pinnacle in particular. If your lines are significantly different than offshore books, again you will get people who just bet the side that is different from pinnacle or betfair etc. If your line is consistently the one that is bad (it will be if you're shading it), you have a new group of people who are just going to beat you. And FWIW when pinnacle first started I believe this happened.