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Turning Squares into Sharps Turning Squares into Sharps

09-23-2008 , 02:50 PM
Quote:
Originally Posted by LogistX
Here's my take and a lot of it is rehashing:

If you can find a book that hangs better than a 20c line you're in great shape. I'm working on this and I intend to get money into matchbook ASAP. At the Wynn, usually you can bet one side at -110 and the other at -110. Imagine both lines at -104 (eg. Pinny) and you've cut the house edge considerably. You need a lower % correct to be +EV and the same winning percentage will win more money at a cheaper line because you can risk the same amount to win more. Magnify that across a thousand bets.

Money management and the Kelly Criterion are critical! As you win more money, you should be betting more -- not by a huge margin, but incrementally. This will increase your win rate substantially. When I post one unit plays, they are really 2% of my roll.

Getting good at betting is very similar to getting good at poker. After you get the basics down and that's where you'll encounter huge improvement it becomes a lot of fine tuning. Equate that extra value bet to finding a cheaper line. Shop for that -115 instead of -120. Sbrlines kicks ass! I'm not convinced you're winning based solely on handicapping, but consider it just a weapon in your arsenal. Other weapons that you can add are line shopping, arbing, props/exotics, middles, +EV teasers, predicting line movements, bonuses (7:1 3 team parlays!), etc. Just like poker, all these little edges add up.

"predicting line movement"

Another concept that I've seen mentioned countless times, but I havn't seen anyone explain the basics of. Obviously I understand its an inexact science, but can anyone provide an example from the past 3 NFL weeks where they correctly predicted the line movement and their throught process?

Is it as simple as "The public seems to be all over this side, therefore its going to move by the end of the week"?
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09-23-2008 , 02:53 PM
Quote:
Originally Posted by Runner Runner
Assani,

My advice for someone who is starting to take sportsbetting seriously is to try and become a good judge of handicapping talent rather then trying to become a good handicapper yourself. This gives you more time everyday to try and spot good bets in many sports rather then becoming an expert in one league or sport. I follow many experts on various forums and bet % of bankroll according to how close I can get to the numbers they are betting. Doing it this way allows you to increase your volume of bets. If you are making good sportsbets in the larger markets you can only expect to skim a unit for every 30-40 units you bet. Increasing your units bet every week should be a high priority obviously. Also, by following good handicappers, you start to understand what they are betting and why and this helps you to handicap games yourself if need be.
I think this is the best advice for Assani.
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09-23-2008 , 02:55 PM
Quote:
Originally Posted by Assani Fisher
Is it as simple as "The public seems to be all over this side, therefore its going to move by the end of the week"?
This is something I've been wanting to ask about - people love to throw around the term "the public" when talking about line movements, but by all accounts, sharp books don't give a **** about the public in regards to lines moving. That is to say, BSPs will never, ever move an Pinny line.

Confirm/deny?
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09-23-2008 , 02:58 PM
Quote:
Originally Posted by Thremp
I don't think shipit would even describe himself as nice. I think arrogant, condescending, but correct would be an analysis that he agrees with.


Regardless, this thread is way off course. Its fairly apparent Assani didn't read or understand the majority of the links in the FAQ or the previous criticisms. He is continuing a litany of people who want someone to hand them something, when in reality it has been presented before them numerous times. Though he'll continue to represent himself as if he is not doing this (as per his standard MO). I'm pretty sure they'll be a variant of this thread 2-3 times.
I skimmed through the FAQ and the links there. As I said in OP, I wanted to set this thread up and ask a few basic questions to get things rolling. Then I'm going to go through the FAQ in detail and ask more questions. Then I'm going to go through Sharp Sports Betting in detail and ask more questions.


I still don't understand this "We have to make newbs work ultra hard before we just hand over this ultra secretive advice" line of thought in this forum.

Many people, myself included, learn better with having a teacher they can ask questions rather than just reading. I mean, according to your line of reasoning, college professors are completely uneccessary because the information is already there in the text books so the students should just stop being lazy and gather that info themselves. Do you not see how flawed this logic is? It greatly speeds up the learning process for the students to be able to ask questions and be guided along the way. That doesn't mean that the students aren't working hard to learn.

I'm sure you'll have some generic insult to respond to me with(per your standard MO), and I'm sure you'll continue to contribute nothing but vague responses and one liners throughout the rest of the thread. I still don't understand what you get out of posting on 2p2. You don't help anyone and nearly every thread you enter is derailed because of your attitude and demeanor.
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09-23-2008 , 03:00 PM
Quote:
Originally Posted by GoldenBears
Just going to pop in here and defend myself, since you were talking about a game I picked.

Before we have a civilized discussion on whether or not I am an idiot for thinking that Oregon covers -7 in that spot 80% of the time, and for thinking that he line was about 20 points off, try to find a DVD of that game.

Honestly, I think 80% might be on the low side. That was the Stanford team that went 1-11 and had lost 10 games by double digits, and the only one they didn't lose by DD was to SJSU, who beat them by 1.

Injuries were a factor later on in the season, granted, but I had that line at Oregon -27 or something and I don't think I've ever had another line be that far off.
Curious on why you think the books weren't able to gather the info that you had then. Or do you think that the books knew what you did but the public was all over the other side for some reason and they won money with you on that game?
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09-23-2008 , 03:02 PM
Quote:
Originally Posted by Performify
Assani,

To answer one of your first questions (even thought it's been answered a couple times, but it wasn't clear you'd actually been able to pick up on the answer) in a poker metaphor that a lot of people here will hopefully understand -- being a > 60% handicapper is analogous to only playing AA, KK, QQ and AK preflop.

Yes, in doing so you'll win a high percentage of your hands (assume you're playing in a game where people aren't going to adjust to your play). But you have to realize you're passing up massive amounts of +EV wagers by only waiting for these prime hands. In poker, we realize that it's better for even the tightest of players to play a larger range than just these hands. It's the same in sports betting.

The critical part of the FAQ entry on win percentage is this sentence: "if you start approaching the higher end of [60% win rate] you are probably passing up some +EV wagers."

If you wanted you could sit back and cherry-pick sports betting spots and go 60% you could. But you would make a lot more money betting games where you were less confident but still had an edge. Assuming you're a serious sports bettor and not just a casual amateur, as an extreme example, picking six NFL sides in a season at 60% is inferior to picking 85 games (five a week for the regular season) at 54%.

-P
Thanks. Yea I was starting to understand that, but you said it very well and definitely speeded up my learning process there.
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09-23-2008 , 03:06 PM
Quote:
Originally Posted by Performify
My thoughts on the rest of your questions, in an attempt to encourage more people to ask more questions:



if you're remotely serious about sports betting, buy and read both SSB and Yao's Weighing the Odds.




Teaching people to beat low-stakes with a TAG approach is like teaching people to bet errant lines (and/or arbitrage) in sports betting. it doesn't require any thought, just basic ability to follow the rules.

You can teach anyone to grind out small profits in Sports Betting with lineshopping and arbitrage. Back before the UIGEA you could do it easily. With the reduced access to Pinnacle it's a lot harder now, but still could be done.

Teaching someone to become a mathematical handicapper, i.e. using meaningful sample sizes to find winning subsets, that's also possible but requires a certain level of understanding of statistics and mathematical principles as well as the skills necessary to do the deep data mining / etc.

Teaching someone to be a successful handicapper instead of a shopper or analyst, that's a whole different story. I definitely don't believe anyone can become a successful handicapper.



Sure it seems more sexy. in the same way that it seems more sexy in poker to become really good about making a good bluff.

It's not foolish to think that handicapping is "more sexy" -- but it is foolish to think that you can become a successful sports bettor by handicapping only and ignoring the rest.



Actively looking means actually spending serious time in to doing so, as opposed to a casual glance. For the serious sports bettor that is spending time every day looking for +EG bets based solely on shopping.

For the casual sports bettor, it's not about checking every hour, IMO it's more about the mindset. If you're betting 5-6 NFL games every week, are you lineshopping to get the absolute best price available (weighing for risk)? Are you aware of the line movements, and are you not betting on the wrong side of a move in progress (i.e. betting the against side that has steamed up mid-week when all indications are it's going to continue to move)

I'll read through SSB first and see if I'm moving in the right direction and enjoying learning more. If so then I'll buy Yao's book. If not, then maybe it just isn't for me.


Not much to say about the rest of the post other than I agree and understand what you're saying. I think one of the first parts of "my game" that I would like to work on is predicting line movements. At least I want to get into the mindset of considering it before making my bets each week.
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09-23-2008 , 03:24 PM
Assani,

You make me laugh. So I will continue. You ask questions like "What is EG?" What is someone suppose to do. Here I will attempt to answer:

Expected Growth (EG) is the ultimate goal of betting.

Does it do you any good? No. The subject has many nuances and I don't think I've come close to mastering them despite spending an inordinate amount of time on the subject. There is no quick and easy way.

To explain this in donkish analogy terms that you understand: You are like a student who has not come to class, not done his homework, and comes during office hours with a surly attitude and asks "You have any tips for how to do well on the tests?" and then the teacher responds, "Sorry, fresh out of tips today." and resumes reading the paper.
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09-23-2008 , 03:58 PM
Expected growth reflects the results of bankroll management.

Advantage play (+EV) reflects the results of line shopping and handicapping/analysis.

They are independent of one another. However without +EV plays no bankroll management method in the universe will get that person ahead.

Analogy: you just bought a $500,000 car, but can't go anywhere because there is no gas in the tank.
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09-23-2008 , 04:06 PM
and one more answer to get to the same question: google.

http://www.google.com/search?q=expected+growth

(points to Ganchrow's excellent post on the subject, which Thremp had already recommended but didn't directly link to. Yay, google)

-P
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09-23-2008 , 04:13 PM
Quote:
Originally Posted by Rustjive
This is something I've been wanting to ask about - people love to throw around the term "the public" when talking about line movements, but by all accounts, sharp books don't give a **** about the public in regards to lines moving. That is to say, BSPs will never, ever move an Pinny line.

Confirm/deny?
I do not claim to be anywhere near an expert on this subject. However, look at the o/u for MNF last night. The line was at 44 basically the majority of the week and then in the day before the game, it moved up to 46. Covers even reports 47. I can't point anywhere out but I've read a number of places about hopping on MNF overs early. The moral is that usually betting over in MNF should be done early and betting under should be done late.

A number of sites will show you how the line has moved over time. However, I don't know any way to use early line movements to predict later line moves.
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09-23-2008 , 04:31 PM
If you look at the line moves for week 1/2 MNF games, all 3 moved down day of the game.
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09-23-2008 , 04:46 PM
Quote:
Originally Posted by Thremp
Assani,

You make me laugh. So I will continue. You ask questions like "What is EG?" What is someone suppose to do. Here I will attempt to answer:

Expected Growth (EG) is the ultimate goal of betting.

Does it do you any good? No. The subject has many nuances and I don't think I've come close to mastering them despite spending an inordinate amount of time on the subject. There is no quick and easy way.

To explain this in donkish analogy terms that you understand: You are like a student who has not come to class, not done his homework, and comes during office hours with a surly attitude and asks "You have any tips for how to do well on the tests?" and then the teacher responds, "Sorry, fresh out of tips today." and resumes reading the paper.
To carry out your silly analogy....

I just started this thread yesterday. This is like the first day of class, and its an intro(or 101) class. Do you not think that professors go over and answer very basic questions on the very first day? How many tests did your professors give on the first day?

I do plan on doing my homework(reading the FAQ in detail, reading SSB, reading Yao's book) over the course of this "class". However, expecting me to have put in a ton of work after one day is foolish.

Also, LOL@ me having a surly attitude. I've repeatedly thanked those who have been kind enough to help and been very friendly.
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09-23-2008 , 04:46 PM
Quote:
Originally Posted by Rustjive
This is something I've been wanting to ask about - people love to throw around the term "the public" when talking about line movements, but by all accounts, sharp books don't give a **** about the public in regards to lines moving. That is to say, BSPs will never, ever move an Pinny line.

Confirm/deny?

For the most part this is true.In college/NBA bb,baseball,hockey and 98% of college football public money will not move the line...ever..The exception to this is the NFL where the public does move the line,not with the volatility that the professional bettors move basketball,baseball and CFB lines,more like nudging it.Here are some reasons why:

1.Pure Volume..Books average handle on an NFL game is typically about 30x the handle on an average CFB game(It may be about the same on a big game like USC-OSU but it may be 100x on a game like Ball St-Akron),and its about 100x for a typical basketball or MLB game.The bettors have no edge playing into a line that's been played into by 90 million guys so it takes many more bets and much more money to move a NFL number

2.The professional betting syndicates that kick lines in CFB,CBB and MLB don't play much NFL because they know there is no edge for the player.When they do bet NFL it is not nearly for the amount they play on other sports and it's usually just to keep the books happy.In the past some services like Dr Bob,Phil Steele and Score have been able to move lines in both NFL and CFB under 2 conditions,they have a huge following and have been running hot.


3.Books don't fear NFL bets.Some Vegas books have limits of 20k for a NFL side and $500 for a CBB total.Why?Because they don't fear NFL betting.Books generally don't treat bets any different between sharps and squares in NFL because they know there is no edge.A bet from certain players will instantly move a line in CFB but the same bet on a NFL game will do nothing to the line

Basically the books and the sharps know there is no edge betting NFL..if there is it is very small not close to the edge that can be had in other sports.Line moves are generated in the NFL generally by public money nudging it,it may be 6 on Wed,6.5 Thurs,7 sat and 7.5 by Sunday..You will not see games go from 6 to 7.5 across the board in 30 seconds time like you do in CFB or basketball.

The reason public money is able to generate line moves in the NFL is because in other sports the books may be holdin 30-50% sharp money on the handle of a game,but in NFL sharp money generally represents about 2% of the handle.
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09-23-2008 , 05:01 PM
"3. I still think you guys take this "I've worked hard to learn this, I'm not giving it away for free" line of thought way too seriously. Rsigley wrote earlier in this thread: "if you really want to handicap a sport, find out what work other people have done. you're not going to reinvent the wheel yourself, but you can take work others have done and expand on it." I think that would apply to 99.99% of the people here, meaning that everyone was taught by someone else's work. If I just came in here and said "I don't want to read or learn anything. Can you sharps just give me your picks each week?" then I'd expect to get laughed at. However, I'm clearly willing to read and study, and since you all only learned from other people why is there such a hesitation to pass it on?"

Do you really not get this yet?

Winning cappers aren't going to just be like "oh use such and such data with such and such weight and there are your numbers, go bet them. P.S. I am averaging 2.1% ROI a day for the year.

Expert shoppers aren't going to be like,, oh sure go to Site X every Sunday and pick off these Nascar props when they get put up at 11AM where they steal Greek's lines but if your guy doesnt come in the top 20 your bet gets no actioned instead of a loss. I am only averaging 600% return for the year, but I'll tell 10 other people and watch it disappear next week.

The first guy can say "Use Pecota more", the 2nd guy can say "Check more props" but what the hell are you expecting them to do? Add in the fact they see it 100x a year around here, how would you react?

And FWIW, the majority of the posters here who know what they are doing, are more like guy #2. Guys like #1 are the minority, especially when it comes to winning.


Can you ever imagine putting up $10,000 on a team where you can't name one player on it? You should.
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09-23-2008 , 05:17 PM
Quote:
Originally Posted by LogistX
I do not claim to be anywhere near an expert on this subject. However, look at the o/u for MNF last night. The line was at 44 basically the majority of the week and then in the day before the game, it moved up to 46. Covers even reports 47. I can't point anywhere out but I've read a number of places about hopping on MNF overs early. The moral is that usually betting over in MNF should be done early and betting under should be done late.

A number of sites will show you how the line has moved over time. However, I don't know any way to use early line movements to predict later line moves.
You should know by now that MNF total moves in relation to o/u results on Sunday.

Week 1: Sunday unders 9-5
Week 2: Sunday unders 6-8
Week 3: Sunday overs 10-5
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09-23-2008 , 05:34 PM
^^^ You know way more than me, but I find that hard to believe, unless you are saying that it moves because stupid bettors are like, "oh man everything went over this weekend I'll be the over on MNF" and vice versa, rather than any causal linkage between a weekend's games and MNF.

Right?
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09-23-2008 , 06:06 PM
Quote:
Originally Posted by GoldenBears
^^^ You know way more than me, but I find that hard to believe, unless you are saying that it moves because stupid bettors are like, "oh man everything went over this weekend I'll be the over on MNF" and vice versa, rather than any causal linkage between a weekend's games and MNF.

Right?
Whatever the reason, the MNF total will consistently move in the direction of Sunday's total results. If you don't believe NFL totals are correlated for a given week, then yes it is stupid bettors.

I suggest you check the archives and confirm it.
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09-23-2008 , 07:08 PM
Quote:
Originally Posted by the steam
The exception to this is the NFL where the public does move the line.

1.Pure Volume..Books average handle on an NFL game is typically about 30x the handle on an average CFB game(It may be about the same on a big game like USC-OSU but it may be 100x on a game like Ball St-Akron),and its about 100x for a typical basketball or MLB game.The bettors have no edge playing into a line that's been played into by 90 million guys so it takes many more bets and much more money to move a NFL number

Basically the books and the sharps know there is no edge betting NFL..

The reason public money is able to generate line moves in the NFL is because in other sports the books may be holdin 30-50% sharp money on the handle of a game,but in NFL sharp money generally represents about 2% of the handle.

I don't know much about the volume of bets in different leagues or % breakdown sharp/square, but your evidence and conclusion seem disjointed. You said that "books fear no NFL bets", but if they are taking 98% public money, why should they? The extra 2% on the "right" side matters only 55% of the time anyway.

Also, if sharp-square breakdown on CBB is 40-60, then these lines will be difficult to beat as sharp money has great power over the line. If sharp-square breakdown is 98-2 in NFL than these lines will be easier to beat as that 2% sharp money can do little to stem the tide of public bets. I mean... right?

Unless, of course, you're talking about virgin lines. In which case I agree, virgin lines are likely to be more difficult to beat in NFL.
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09-23-2008 , 07:34 PM
Quote:
Originally Posted by CardSharpCook
I don't know much about the volume of bets in different leagues or % breakdown sharp/square, but your evidence and conclusion seem disjointed. You said that "books fear no NFL bets", but if they are taking 98% public money, why should they? The extra 2% on the "right" side matters only 55% of the time anyway.

Also, if sharp-square breakdown on CBB is 40-60, then these lines will be difficult to beat as sharp money has great power over the line. If sharp-square breakdown is 98-2 in NFL than these lines will be easier to beat as that 2% sharp money can do little to stem the tide of public bets. I mean... right?

Unless, of course, you're talking about virgin lines. In which case I agree, virgin lines are likely to be more difficult to beat in NFL.

It's just that NFL lines are played into by so many people the line is much closer to the right number...As far as basketball goes there may be 60-70 games on the board and probably about 8-12 get played by the sharps so in the rest of the games it's basically you vs the linemaker without alot of opinion already going into the line...Also in basketball fading sharp money AFTER the line moves is not neccesarily a bad thing,if a game is -3 at 6pm and -4.5 at 7 pm if I didn't get down at -3 I'm either taking the 4.5 or passing.
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09-23-2008 , 07:42 PM
Quote:
Originally Posted by the steam
It's just that NFL lines are played into by so many people the line is much closer to the right number...As far as basketball goes there may be 60-70 games on the board and probably about 8-12 get played by the sharps so in the rest of the games it's basically you vs the linemaker without alot of opinion already going into the line...Also in basketball fading sharp money AFTER the line moves is not neccesarily a bad thing,if a game is -3 at 6pm and -4.5 at 7 pm if I didn't get down at -3 I'm either taking the 4.5 or passing.
I hear you constantly use the words Sharps and Squares, this is where the terminology is vague.

Obviously one can bet wayyyy more than 8-12 cbb games on a saturday and have it be profitable - does that mean it's not "sharp"??
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09-23-2008 , 07:48 PM
Quote:
To carry out your silly analogy....

I just started this thread yesterday. This is like the first day of class, and its an intro(or 101) class. Do you not think that professors go over and answer very basic questions on the very first day? How many tests did your professors give on the first day?

I do plan on doing my homework(reading the FAQ in detail, reading SSB, reading Yao's book) over the course of this "class". However, expecting me to have put in a ton of work after one day is foolish.

Also, LOL@ me having a surly attitude. I've repeatedly thanked those who have been kind enough to help and been very friendly.
It's not the first day of class, though. You were given a reading assignment and chose not to read it other than perhaps a very marginal skimming. Come back to the office once you've read, thought about and tried to understand the FAQ.
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09-23-2008 , 07:51 PM
Quote:
Originally Posted by kaboshedx

Obviously one can bet wayyyy more than 8-12 cbb games on a saturday and have it be profitable - does that mean it's not "sharp"??
No not at all just guessing out of the whole card on a typical basketball day how many games see heavy line movements,that's all
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09-23-2008 , 07:51 PM
Steam,

Your logic is beyond ******ed. You say there is never an edge to be had in the NFL and yet there are line movements not related to injuries. If a line moves from 6 to 7.5, there is an edge at one of those lines. As well, line shopping FTW.
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09-23-2008 , 08:09 PM
Quote:
Originally Posted by hedgie43
Steam,

Your logic is beyond ******ed. You say there is never an edge to be had in the NFL and yet there are line movements not related to injuries. If a line moves from 6 to 7.5, there is an edge at one of those lines. As well, line shopping FTW.
I believe I said the edge is very small compared to the edge bettors can find in other sports
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