I’d lay big odds* that 75% of the adults in this country who regularly watch NFL games have no idea how a betting service or a casino goes about setting the line, and why they set any specific number (or odds) on a game.
This is the line for the Houston Texans at Philadelphia Eagles NFL game tonight.
Houston +8 (+300) -115o 52
Philadelphia -8 (-400) -105u 52
I'd assume that at least 90% of the people that regularly watch NFL football know that in order to win a $5 bet with a friend while using the above line, the person taking the Eagles would have to “give 8 points” to the person taking Houston. The Eagles bettor needs to have Philly win by 9 or more, to win the bet. Take Houston and 8 points, and even if they lose by 7, you win. Philly by 8 and it’s a push.
Everyone knows all that stuff, right? Everyone knows what a “push” is on a bet? But what does all the other stuff mean?
I am going to conduct a small poll (or test) of folks I have contact with, and ask them some questions on the topic, and see what I get. I’ll try to gather answers from a good sample of folks. These are the questions I am going to be asking, and the points awarded for correct answers. 100 is an A. You need better than that for an A+. A score of 65 is needed to pass.
For 30 points:
What is a sports book’s objective when they set a point spread in a football game?
For 35 points:
What is the only reason why sports book’s care which team wins a game?
For 15-20 points:
In sports betting parlance, what do “juice” and “vig” mean?
One correct answer is worth 15 points. Two are worth 20 points.
For 15 points:
If someone had the ways and means to bet $100 on every NFL game in a season using the point spread from one specific sports book, what is the minimum percentage of bets they’d need to win to not lose money?
Extra credit: Again, in sports betting parlance, what does “middling” mean?
Comments? If you give answers, did you look them up first?
*Big odds would be 5-1.
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