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What Should the betting line or spread was established by four sports advisory companies without collusion or previous familiarity with each others numbers!
Lets face some facts about this number or point spread that usually comes from one Sports Advisory Group. This number is sold or distributed to the sports betting outlets online as well as the legal Sports Books in Nevada. These outlets put their little tweak on the line by 1/2 point or 1 point or an extra $5 on the money odds. However, everyone will post their number which is the same or within a point of each other. This is the equivalent of price fixing and collusion in any other industry.
How come the Sports Betting Industry has the exact same price or spread on their own betting board? WHY – because nobody wants to rock the boat!
What if this process of establishing a betting line was not really a monopoly but was provided by at least four sports consulting groups that were independent of each other. Each group would then post their calculated number for the worldwide sports betting outlets to buy and use for their operation.
This new mode of operation would unlock the monopoly that exists when the line is established. Now what happens? Would some books dare to post numbers that will be different from others by 4 or 5 points either way. I doubt it since nobody wishes to rock that boat. Is this collusion through the sports books so also they can keep their share of the market and not create a price or point spread war.
The process of constructing the point spread number is probably done through a software program with all the statistics as well as other information to get a base number. Then the actual number is refined to include public perception as to where the general public will place their money. It really is no secret that Sports Books speculate or predict at what number the public will be evenly divided.
There are a number of occasions when the line just isn’t even close to the final score. They do come close about 65% of the time. In contrast, in the event the spread is minus 7 and also the favorite wins by 21 points or the underdog wins outright, their number is way off.
If that minus 7 point favorite is listed at minus 11 points at another outlet would there be a Revolution among Sports Book operators. Would this difference of opinion cause a lot of anxiety with casino management. I am sure they might question each others actions after doing the same thing together all these years.
For a true and balanced market to emerge in any industry, there should be some options and competition among-the players involved. A Betting Exchange can be very close to a far more balanced betting market considering that the levels of competition are against other bettors. The spread is the same but the money odds are much better with more options.
If the Sports Books in Nevada and online books opt to re-arrange their Sports Book operations to include some alternatives to the spread, they’re going to increase their handle and be more competitive. I would install some type of Spread Betting that’s big in Europe. Allow more options with alternative lines and charge just a little more vigorish. Some online bookie books have alternative run lines on baseball. They post the run line at minus 1.5 runs on the favorite and underdog in the same game.
The Sports Betting outlets need to become more innovative to maintain a market share. We know they probably will not “rock that boat” unless one or even more sports betting venues develops a rogue or maverick mentality. This will be a big gamble that can payoff and increase market share. On the contrary, it really is ironical that sports books don’t want to be in the gambling business. They just want to collect their commission and avoid too much risk. They can be more worried about the heavy hitters than the small average recreational bettors who lose more frequently.
Promoting or seeing changes within any financial markets is much like getting people to stop smoking or obese people to lose weight. Change is difficult for a great deal of men and women and businesses. Since they say “talk is cheap”. On the other hand, I feel technology is becoming more prevalent in Sport Betting industry. Hopefully, it shall create a far more vibrant market with better options and even more competition in the sports betting community.
