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The Math Behind How Betting Odds Are Set | Mach | NBC News

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  • เผยแพร่เมื่อ 1 ก.พ. 2017
  • Sports betting is big business in America and no event is larger for American sports than the Super Bowl.
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    The Math Behind How Betting Odds Are Set | Mach | NBC News

ความคิดเห็น • 59

  • @reversEngiener
    @reversEngiener 6 ปีที่แล้ว +63

    Low information video. No math involved at all!

  • @fademejake
    @fademejake 2 ปีที่แล้ว +49

    This video misses one VERY important piece of reasoning behind where betting lines are set for sports. There ARE predictions being made, but not necessarily regarding who wins or the final score. In most cases, the odds makers are less interested in what the outcome of the event will be, but on how the betting line effects how people bet. Generally, they want half of the money to be bet on each side. Usually a bettor wagers $100 to win $90. So, if 10 people bet on Team A and 10 bet on Team B, if team A wins the book takes in $1000 from the losers and pays out $900 to the winners, profiting $100. And if Team B wins? The book makes the same amount of money. That way the house is guaranteed a profit no matter what happens. That is why you will occasionally see the line change mid week even if there have been no new developments (player injuries, etc). It often just means that too much of the money is being bet on one side, so the line gets adjusted to entice action on the other side. Many times after a game you will hear talk radio pundits talk about how 'wrong' the oddsmakers were because the final score was nowhere close to the line that was set. If the line that they set balanced the books and guaranteed their employer a profit they may have been much more correct than people think. There are of course many other factors that come into when talking about parlays, money line bets and the like, but I have confined my comment to simple point spread and over/under scenarios for simplicity. The same underlying principle applies to all different kinds of odds setting though: guarantee a profit.

    • @trevorwilliams2797
      @trevorwilliams2797 2 ปีที่แล้ว +7

      Hey man this makes way more sense we need you to make the video instead.

    • @CRMdrifter
      @CRMdrifter 2 ปีที่แล้ว +3

      Exactly and that's the real reason why the house always wins. A lot of people have this misunderstanding that you can't make a profit off of sports betting and they use that saying but this is it's actual meaning.

    • @Pointlessparodys
      @Pointlessparodys 5 หลายเดือนก่อน

      Why are you speaking on things you don’t know anything about. Books take positions shaped by sharp action. They don’t balance nor is that possible

    • @jackotaco294
      @jackotaco294 4 หลายเดือนก่อน

      If there is imbalance they have to call the league commissioner, team owners, coaches, and ref to fix the game.

  • @loualcaraz6497
    @loualcaraz6497 4 ปีที่แล้ว +34

    My friend in college spent 15 years working as a mathematician for the US defense department. He left to become one of the highest paid mathematicians setting the odds for a Vegas sports book. He never talks about his job no matter how much he’s asked.

    • @staffordnelson9053
      @staffordnelson9053 3 ปีที่แล้ว +4

      Your friend is serious man.Keep him!

    • @tgmacc748
      @tgmacc748 2 ปีที่แล้ว +2

      They swapped him for an alien

    • @jaymetantillo883
      @jaymetantillo883 5 หลายเดือนก่อน

      Apparently he did if you know about it

    • @Spaghetti742
      @Spaghetti742 หลายเดือนก่อน

      He probably signed an NDA. In fact, I would bet money on it.

  • @equilibriums7182
    @equilibriums7182 7 ปีที่แล้ว +21

    And there's always the possibility of fixing a game to cover the spread

    • @YessahBlessah608
      @YessahBlessah608 ปีที่แล้ว +1

      We all know this is for sure. They just wont admit it! Seen too much

  • @crusherven
    @crusherven 4 ปีที่แล้ว +41

    Seriously? Could have been a 30 second video, including intro and outro. "They have super secret algorithms based on how well they think the teams will do. Fin."

    • @jeanluisindriagolugo232
      @jeanluisindriagolugo232 4 ปีที่แล้ว

      This was great, I have been researching "uk betting odds explained" for a while now, and I think this has helped. Ever heard of - Ranhloe Breathtaking Review - (Have a quick look on google cant remember the place now )? It is a great one off product for discovering how to find a winning betting formula without the hard work. Ive heard some interesting things about it and my partner got amazing success with it.

    • @johanmorales7400
      @johanmorales7400 4 ปีที่แล้ว

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    • @johanmorales7400
      @johanmorales7400 4 ปีที่แล้ว

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    • @johanmorales7400
      @johanmorales7400 4 ปีที่แล้ว

      Cheers for the Video clip! Sorry for butting in, I am interested in your initial thoughts. Have you tried - Eeyndraw Unthinkable Equalizer (Sure I saw it on Google)? It is an awesome one of a kind product for discovering how to use this winning soccer betting system minus the normal expense. Ive heard some interesting things about it and my best friend Jordan at very last got astronomical results with it.

    • @darlyntenelanda9728
      @darlyntenelanda9728 4 ปีที่แล้ว

      This was great, thanks, I been tryin to find out about "guaranteed betting" for a while now, and I think this has helped. You ever tried - eyamilla Yeyevi Eradicator - (should be on google have a look ) ? Ive heard some amazing things about it and my partner got great results with it.

  • @MEGAHOUSETV
    @MEGAHOUSETV 5 ปีที่แล้ว +11

    The house wins every time

    • @jkings6602
      @jkings6602 3 ปีที่แล้ว +1

      Many thanks, I been tryin to find out about "what is a football tipster picks" for a while now, and I think this has helped. Ever heard of - Arnatthew Uncomplicated Ascendancy - (do a google search ) ? It is a good one of a kind product for discovering how to get a betting method that is unique without the headache. Ive heard some incredible things about it and my partner got amazing results with it.

  • @albrown1812
    @albrown1812 3 ปีที่แล้ว +5

    This video was so pointless,on the coin flip you took the lonnng route, just to get to a 50/50 chance for heads or tails,and then a longer route to say idk how odds makers really figure there odds because it's privileged information...🤦🏾‍♂️

  • @서민재-t4z
    @서민재-t4z วันที่ผ่านมา

    No secret meeting between vegas wise guys???

  • @spinosgamingchannel206
    @spinosgamingchannel206 7 ปีที่แล้ว

    Super Bowl is very Stressful

  • @arenuzzle6282
    @arenuzzle6282 3 หลายเดือนก่อน

    Making facts but not the answer 😂

  • @brandonsager223
    @brandonsager223 2 ปีที่แล้ว

    Extremely informative and in depth

  • @teamsters2824
    @teamsters2824 5 หลายเดือนก่อน

    Just get Jake Paul and boxing it’s fixed every time

  • @bethbartlett5692
    @bethbartlett5692 4 ปีที่แล้ว +2

    Oddmakers have always inspired an amazement in me!
    ...and I lived in Las Vegas 20 years.
    Sports betting - once in a while for the thrill of the game.
    *NEVER BET ON YOUR TEAM and NEVER EVER BET MOVE THAN 2 GAMES* - Wisdom from (Lefty Rosenthal - arguably the best known Oddsmaker)
    Put all your wager on 2 and realize a profit payout over the calculated potential loss.
    "(...I put 2 of my Bookie's kids through college on the Over and Under." What Movie is this line from?)*

  • @funnyanimals268
    @funnyanimals268 6 ปีที่แล้ว

    Is Trabeplom System helpful to making some cash in the betting online ? We have learn many good things about this popular betting system.

    • @Hmongboi228
      @Hmongboi228 6 ปีที่แล้ว

      The "Trabeplom System" is a scam. That comment was created by a bot which spams on anything betting related.

  • @georgepamfilis7527
    @georgepamfilis7527 21 วันที่ผ่านมา

    Where is the math???????????.?

  • @hootoconnor8859
    @hootoconnor8859 4 ปีที่แล้ว

    Until the pandemic I was a sports better in Vegas...mostly inplay...and this is illiterate .

  • @nophu6669
    @nophu6669 3 ปีที่แล้ว +2

    Iya ya Allah.

  • @besigyejonan8270
    @besigyejonan8270 3 ปีที่แล้ว

    wasting our time to watch just

  • @mariomarin4665
    @mariomarin4665 4 ปีที่แล้ว

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  • @alain451
    @alain451 4 ปีที่แล้ว

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