Sports Betting: Sucker Cattle Call

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Sports Betting: Sucker Cattle Call

Post  wizeguy on Mon Apr 20, 2009 1:32 am

http://www.buzzle.com/articles/how-the-sports-betting-line-made.html
is an article describing how lines in sports betting come about. Like we did in class last Wednesday regarding picking red or black cards out of deck, lines moving up or down for a particular sports bet are essentially the same concept.

If someone in the class picked a red card, then someone after them picked a red card, the third person picking will most likely say that the deck has more red cards than black cards. By going with the crowd, the individual has made a decision outside his/her own logic and placed the crowd's logic above their own. In sports betting, when lines move up or down, that means that more and more people are betting a certain way. For example, if the Dallas Cowboys are favored by 7 points against the Arizona Cardinals, and a few hours later the Cowboys are only favored by 6 points, then that means more and more people are betting on the Cardinals to Win or lose by less than 7 points.

Therefore, the crowd sees the moving line, and thinks other people know something they don't and bet on the way the lines are moving. So a couple of misinformed people making large bets, could in fact deter the entire crowd into making a bad bet because of the moving lines, and convincing the crowd that they knew something that everyone else didn't.

wizeguy

Posts : 33
Join date : 2009-04-11

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