The way that sportsbooks manufacture their odds and betting lines has changed drastically through the years. The sport gambling industry was once dominated by old-school Vegas oddsmakers, however much has changed since the advent of online sportsbooks, as well as the fine-tuning of sport betting software and calculations.
How can sportsbooks create chances and their lines? In this article, we’ll explain everything you need to learn about the procedure, the people involved, and also the growth of the procedure.
One Thing Hasn’t Changed: Oddsmakers’ Goal One thing which has not changed since the days of sports betting is the ultimate aim balance the action.
If you’ve read our guide on reading and understanding chances, you will know that you can calculate the implied probability of an event happening simply by performing a couple of simple calculations.
However lines aren’t designed to reflect the real and accurate probability of either outcome. After all, one of the best strategies to obtaining an edge over your sportsbook is creating a wager when you think there’s a discrepancy between the real likelihood of an event and the implied likelihood determined by a betting line.
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