It was somewhere around 25 years ago – an eon in the
prospering life of modern sports betting – that Nevada’s licensed bookmakers
first began employing money lines. The action was one of necessity as bet
takers, in an effort to limit their susceptibility at being caught between two
numbers (a situation called being middled or sided) sought a profitable (for
them) but reasonably attractive (for bettors) alternative to moving
pointspreads.
With money lines, (which are the wagering standard for baseball), players don’t
lay or take points; they lay or take a price. For example, if the Colts are a
3-point favorite over the Broncos, on the money line,
might be -160 (bet $160 to win $100) while
is +140 (bet $100 to win $140). No pointspread is involved.
”The time when a money line is really used in force is on a game such as the
Super Bowl where a side or a middle literally could cost you millions of
dollars,” explained a noted
bookmaker with vast knowledge of the intricacies of money line management who
asked not to be identified. “At a really large sportsbook, getting sided on the
Super Bowl could cost the house well over $1 million.
”The time that a money line is really valuable is when the line is -3. Rather
than moving the spread to -2 ½ or -3 ½, I like using a money line, especially
if my jeopardy is going to be around seven figures.”
Of course, a bookmaker’s jeopardy or risk is a relative factor.
”Again, it’s up to the guy running the joint,” pointed out the bet taker. “Obviously,
if you’re on -3 and you’re $2 million high, if you go to -3 ½ you know you’re
going to get money back. How much do you want to risk? It all comes down to how
much belly you have.”
Bookmakers also use money lines when they hang halftime lines, a game within a
game where pointspreads based solely and independently on single halftime
scores are offered.
”Halves are pretty treacherous,” admitted the bookmaker. “Using a money line is
a tactical move because I think that’s the only way you can really book
halftimes. If it’s pick with the money line and the game comes tied, all you do
is give the money back. But it’s dangerous to go from pick to 1, pick to a ½ or
pick to 1 on the other side because, quite obviously, if the game winds up 7-7
at the half, you’re going to lose a lot of money.
”That’s a strategic move because there are a lot smarter people betting the
halftime than in a normal situation. When you take decent sized bets – say
$10,000 to a number – using the pick money line pointspread for a halftime, I
believe, is the best theory.”
Sports betting action usually dictates change but pointspreads don’t always
move in tandem with money line shifts, and vice versa.
”It all depends,” said another bookmaker who also felt a bit squeamish
discussing internal oddsmaking deliberations and demanded anonymity. “If
wiseguys (informed bettors) are laying a side up, yeah, most of the time I will
move the pointspread. But if it’s square (unsophisticated) money that moving
the number, I’ll just leave it there because I don’t want to kill all the
action. Sometimes, if you leave it there, they’ll bet that up, too. But if
games are moving, especially in college, a point, a point and a half, two
points a crack in an afternoon, you’ve got to move the money line. With the
NFL, you can stay a little longer and take a hit.”
If there’s a player edge with money lines it’s probably in taking the odds with
small underdogs. Since NFL games are decided by 1 or 2 points only about a
combined seven percent of the time, some gamblers feel if you like the underdog
you might as well forget the points and take a plus on the money line.
In the end, money lines are just another option sports betting option.
MONEY LINE VERSUS POINTSPREAD
|
Pointspread |
Money Line |
Range |
|
Pick |
-110 |
-110 |
|
|
||
|
1 |
-115 |
-125 |
|
|
||
|
1 ½ |
-120 |
-135 |
|
|
||
|
2 |
-125 |
-145 |
|
|
||
|
2 ½ |
-140 |
-160 |
|
|
||
|
3 |
-150 |
-170 |
|
|
||
|
3 ½ |
-160 |
-180 |
|
|
||
|
4 |
-170 |
-200 |
|
|
||
|
4 ½, 5, |
-180 |
-240 |
|
|
||
|
6 |
-200 |
-260 |
|
|
||
|
6 ½ |
-220 |
-280 |
|
|
||
|
7 |
-260 |
-350 |
|
|
||
|
7 ½ |
-300 |
-400 |
|
|
||
This article was written by Luken Karel for http://www.thegreek.com.