19.9.08

Las Vegas Oddsmakers



My Grandfather was a professional gambler. Back in the late eighties, he taught me two simple gambling rules. Rule #1: The oddsmakers are smarter than you or me. These professionals do not make mistakes, period. Rule #2: If the oddsmaker seems wrong, refer back to Rule #1.

Grandpa taught me to look at the line set each day for football, basketball, baseball -- any sport. Look for lines that look "bad". Whenever you find a line that looks like an obvious error or misjudgement (even if it's so bad it looks like a printer's error or computer glitch), bet with that mistake. Assume the oddsmakers are correct and they know something you don't. Because they do! No one knows more than professional Las Vegas Oddsmakers. Their entire life is figuring out correct lines. If they are wrong, tens of millions of dollars could be lost. If they're wrong very often, they won't stay employed as oddsmakers for long.

Every day you should analyze the line. You'll find one or two games that look as though the wrong team is favored, or a slightly better team is favored by too much. In each of these cases, my advice is to wager on the wrong team or the side that makes no sense.

The Vegas Oddsmaker is paid to spend 24/7 researching games, teams, players, situations, and injuries. If something in the line looks wrong, you can bet they have found something crucial and significant to the outcome of the game that you never saw or never had access to. I've tried to isolate oddsmaker's "mistakes" and bet with them (on the wrong side). It's not a bad thing to bet with the house. The house wins. Or as they say in poker, look around the table. If you don't know who the sucker is, it's you.

Good Luck,

JoVerto