Oddsmakers: Everything you ever wanted to know about sports betting

Oddsmakers: Everything you ever wanted to know about sports betting

First off, if you are not familiar with sports betting or how it works I suggest going here to familiarize yourself with terms like handicap and parlay.

So how do the odds get set and who is setting them?

Las Vegas Sports Consultants Inc establishes the odds for about 75% of the licensed Sports Books in Nevada. If you have ever heard someone say how the guys in Vegas know more about sports than anyone else in the world, Las Vegas Sports Consultants are who they are talking about.

But how do they come up with these odds that constantly make money for Sports Books and bookies year after year? Setting the line is a matter of intense research, carefully cultivated contacts, years of experience and plain old intuition. An odds maker’s reputation is based on his accuracy, and he has many variables to consider when determining the odds:

  • The teams’ performances this season, in prior seasons, in last week’s game, and against each     other
  • The playing surface
  • Home field advantage
  • The weather forecast
  • Injuries, especially those of star players
  • Team morale
  • Events in the personal lives of the players

Two years ago I made the mistake of paying one of those handicapping services to make my picks for me. It was without a doubt a huge waste of money because if I remember correctly, the guy didn’t even pick as many winners as he did losers.

As a result of this, I have been getting calls from numerous handicapping services in Vegas because they know I paid for picks at one point in time. My name is now in a database forever. Getting calls from these Vegas Handicapping Guys (VHGs) would piss most people off, but not me. Two or three times a year one of them will give me a call trying to sell me their selections the next week. They always call with some “lock” pick that is a guaranteed winner. I always find myself talking to them on the phone for at least a half an hour. Why? The VHGs are awesome salesmen. If you’re like me, you have gotten more than your share of solicitation calls before. There is no group of people that are more persuasive and convincing than the VHGs.

Let’s be honest, people call and try to sell you a lot more useful things than ridiculously overpriced football picks for the week. For some reason though, I always feel bad whenever I tell these people no. At any rate, I love talking to them because it turns in to a sort of brief motivational sales session for me.

Does anyone have a similar experience they want to share?

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