Sports Hernia":yjdkjq95 said:
I agree that Vegas wants even money to eliminate risk of losing big and are happy to take their rake. Doesn't change the fact they are damn good at setting the lines most of the time.
I think you might be missing my point. The point is that Vegas isn't the ones that set the betting lines. It's those that participate in the betting that set the line. It's completely market driven and has absolutely nothing to do with the play on the field, players, coaches, their opponent, etc., except as it relates to betting activity.
Las Vegas bookies will look at past betting activity along with other factors that might influence potential bettors, and will try to predict which team will garner the most interest then set an initial betting line. As the actual bets come in during the week, they will adjust that line accordingly to maintain or achieve a balanced risk. It's a purely mathematical function rather than some type of football analysis.
Think of it like this: The New York Stock Exchange does not set the price of stocks. It is simply a venue where trading can occur. The investors, by virtue of their investment activity, determine the price of the stock. As more people buy, the price goes up. As more sell, the price goes down. The same holds true for Las Vegas bookies and the betting lines.
The trick is finding a really crappy team that a lot of rich, mindless, passionate followers will blindly bet on then bet against them. Like the Cowboys.