Smith to serve as Division I men's basketball chair
NCAA Basketball Betting Lines
06/30/2009 - Indianapolis, IN (Sportsbook Betting Lines) - The NCAA announced on Tuesday that Gene Smith, the current associate vice president and athletics director at Ohio State, has been named chair of the Division I Men's Basketball Committee for the 2010-11 academic year.
Dan Guerrero will continue as chair of the committee until September 1, 2010, when Smith takes over pending approval by the NCAA Division I Championships/Sports Management Cabinet.
Smith has served on the men's basketball committee for three years and has been a member of several other councils for intercollegiate athletics.
"Being a member of the men's basketball committee is a prestigious honor that comes with incredible responsibility to our membership," Smith said. "I have the highest possible respect for the colleagues with whom I serve. There is a high level of admiration for the way past chairs have handled keeping with the mission of this committee, and I look forward to the opportunity to continue the important work of this group."
The Notre Dame alumnus has also served as athletics director at Iowa State (1993-2000) and Arizona State (2000-2005).
Bronx, NY (Sportsbook Betting Lines) - Seattle Mariners third baseman Adrian Beltre underwent surgery Tuesday to remove bone spurs in his left shoulder. Beltre, who was also put on the 15-day disabled list, had the procedure performed by
<< Stars re-sign Lehtinen to one-year deal
Frisco, TX (Sportsbook Betting Lines) - The Dallas Stars announced Tuesday that they
have re-signed right wing Jere Lehtinen to a one-year contract for the 2009-10
season.
The deal includes a $1.5 million base salary, and as much as $1 million m
<< Diamondbacks activate Tracy
Cincinnati, OH (Sportsbook Betting Lines) - The Arizona Diamondbacks activated first
baseman Chad Tracy from the 15-day disabled list on Tuesday.
Tracy sustained an oblique strain in a game against the Braves on May 29. The
veteran went 3-for-4
<< Bruins buy out Schaefer
Boston, MA (Sportsbook Betting Lines) - The Boston Bruins announced Tuesday that they
have bought out the final year of forward Peter Schaefer's contract.
Schaefer, 31, did not see the ice in Boston last season, spending the entire
campaign in Pr
<< Lions acquire WR Northcutt from Jags
Allen Park, MI (Sportsbook Betting Lines) - The Detroit Lions acquired wide receiver
Dennis Northcutt from the Jacksonville Jaguars in exchange for safety Gerald
Alexander on Tuesday.
The 31-year-old Northcutt, who spent the last two seasons
Bozeman, MT (Sportsbook Betting Lines) - Montana State University has agreed to three-year contract extensions with head women's basketball coach Tricia Binford and head men's coach Brad Huse. Each coach was set to enter the 2009-10
Utah C Okur to return next season >>
Salt Lake City, UT (Sportsbook Betting Lines) - Utah Jazz center Mehmet Okur decided
to exercise his player option in his contract and return to the team next
season, the club announced on Tuesday.
Okur, who came to Utah as a free agent i
Suns exercise option on Amundson >>
Phoenix, AZ (Sportsbook Betting Lines) - The Phoenix Suns exercised the second-year team
option on the contract of forward Louis Amundson.
Signed by the Suns last August, Amundson saw action in a career-high 76 games
last season and averaged 4.2 poin
Boozer, Okur to remain with Jazz >>
Salt Lake City, UT (Sportsbook Betting Lines) - Forward Carlos Boozer and center Mehmet
Okur both announced they will remain with the Utah Jazz for the 2009-10
campaign.
Boozer announced he will exercise his player option and remain with the
Flames sign Bouwmeester to multi-year contract >>
Calgary, AB (Sportsbook Betting Lines) - The Calgary Flames' gamble paid dividends on
Tuesday, as the club signed defenseman Jay Bouwmeester to a multi-year
contract just hours prior to the start of the NHL free agency period.
Over the wee
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Sportsbooks to bet on football
Recently I had an email debate with an angry reader who said I did not understand "the science of oddsmaking", as he called it.
He said I was wrong for suggesting oddsmakers care about who wins or loses games.
"Oddsmakers only care about splitting the betting public 50/50 on both sides of the line and keeping the commission (a.k.a. juice)," he wrote.
He might have been right about not understanding "the science of oddsmaking". After all, I'm not an oddsmaker. That said, I stick to my assertion that oddsmakers (a.k.a. sportbooks) often do care about who wins games.
Granted, as a general rule, sportsbooks try to balance their action so that they're not exposed to big losses. However, there are times when this is difficult to pull off, regardless of how much a line has moved. There are also times when that general rule is ignored and a book pursues risk.
Generally speaking, it's safe to say the books in Vegas are risk-adverse. Unlike in the past when the wise guys ruled the town, Vegas is now corporate and the goal of most casinos is to make as much money as possible with as little risk as possible.
Thus, Vegas sportsbooks try everything in their power to balance the action. They're satisfied simply collecting the juice. But these profits are small, especially compared to the take from other casino games, namely slot machines.
Because the profits at Vegas sportsbooks are so small, you could argue that many casinos operate sportsbooks simply as a novelty to keep the tourists happy.
With a growing aversion to risk, it should come as no surprise that Vegas bookmakers have been panicking this NFL season.
Despite huge pointspreads, a disproportionate percentage of bettors are still laying their money on favorites like the Eagles, Colts, Pats and Vikings rather than the dogs (a common trend for the largely recreational bettors that visit Vegas).
And much to the dismay of the books, those favorites are finding ways to cover the thick chalk. In fact, prior to Week 7, the four teams listed above are a combined 16-2-2 (88 percent) against the spread. (The tables turned dramatically in Week 7, but more on that later.)
The result has been an early-season beating for the books, and a bonanza for bettors.
While Vegas increasingly hates risk, it's no longer a major player in the sports betting world. Most of the betting action now takes place offshore where sportsbooks are not as obsessed about balance. In fact, some books encourage exposure to risk because the rewards can be so much bigger.
Consider MySportsbook.com. On its website, the book has odds pages which actually display the amount of action it's getting on games. In other words, you can see how much action the book is taking on both sides of a pointspread, moneyline or over/under.
One look at these numbers and it's obvious MySportsbook.com does not balance every game. In fact, far from it.
Take last weekend's matchup between St. Louis and Miami. By game time on Sunday, 83 percent of the betting action at MySportsbook.com was on the Rams; only 17 percent was on Miami.
What's interesting is that MySportsbook.com opened the pointspread with Miami at +6 1/2. By game time, the spread had lowered to +5.
That goes contrary to the balancing theory. If MySportsbook.com had wanted to balance the action, it would have given Miami more points; instead, it took away 1 1/2. World Series odds are now up as well.
MySportsbook.com exposed itself to even more to risk, and rolled the dice on the underdog Dolphins. Why? I contacted a representative with the book to find out. His answer was simple.
"The line moved early based on 'smart money' from sharp players," said Jeff Gilroy, a spokesperson for the book. "We also knew from early in the week that we would need Miami, therefore (we dropped) the spread to encourage Rams money.
"At the end of the day, we liked the home team."
So the conclusion is this: MySportsbook.com respected the sharp action, and gambled that the sharp bettors had a better take on the game than the recreational bettors, who were hammering the visiting Rams.
In the end, the gamble paid off. Miami, desperate for a win in front of its home fans, pounded the overrated Rams, who are terrible on the road and even worse on grass. Final score: 31-14 Fish.
MySportsbook.com was also heavily exposed on numerous favorites in Week 7, including Philadelphia, Seattle and Denver. All three failed to cover.
The fact that sportsbooks are exposed to risk on certain games is really nothing new. The fact, that Sportsbook.com is willing to show the public where it's exposed is intriguing.
Armed with this type of information, bettors can make more educated wagers. They can get an idea where the sharp money is going and conversely where the public money is headed.
MySportsbook.com is opening up its cashbox, letting bettors look inside and challenging them to take their best shot at grabbing the cash.
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