1/1/2024 0 Comments Public betting percentages![]() , the bookmaker with the highest betting limits in the US market regularly post betting percentages beside their side and total markets. Many offshore online sportsbooks also do the same. At this point, there are several industry that post public betting percentages on their sites. With all that said, there is still some value in looking at public betting percentages. Public Betting Percentages In Sports Betting Sharp bettors are the largest worry for the oddsmakers and moving a market drastically puts them into a potential nightmare scenario where they can be arbitraged and lose both sides of a market. ![]() It’s much better for them to post accurate lines from the start and not worry about where the public is going with action. In summary, the sportsbooks don’t value public opinion when it comes creating their odds. This can be highly effective if you understand betting markets and has caused many bettors to be banned or limited. “Chasing steam” is betting the market of other sportsbooks before the odds change. Many sports bettors “chase steam” after a market move by a well-respected sportsbook that takes a high volume of bets. These moves, especially when the odds are first released, are caused by sharp betting action. These moves are called steam moves, which are rapid changes in a betting market due to heavy action. They also create a middle area between the initial line and odds’ change, which makes it possible for them not only to lose the sharp wagers but the bets that came in later after the movement. If a sportsbook posts a line that’s considerably off, and it moves several points to betting action, they’re recreating this scenario several times. This action is often lopsided and while the bookies will move the line to induce action on the other side, they will have considerable action from sharps at the original line. This can create a scenario where sharp bettors have gotten a lot of money down on the line before it moves. Sharp bettors will pound the weak side and they will be forced to move the line. This creates a problem for the sportsbooks if they post a line that isn’t accurate or one that is catering to the public’s opinion. They also bet considerably more money than the average bettor. Sharp bettors hit markets as soon as they open to look for inefficiencies. If the sportsbooks post lines from the start that are intended to produce equal action based on the public opinion, they will likely feel the wrath of the sharps. Sharp bettors are experienced, high limit bettors who eagerly look for soft lines and are happy to pounce on bad numbers. While the lion’s share of sports bettors are certainly losers, there’s a small but highly significant set of sports bettors known as sharps. A lot what bettors read or utilize is noise, but there’s no doubting as a whole, sports bettors today are more sophisticated than ever. The amount of information that today’s bettors have available at the click of a button is night and day compared to what was available in the past. Of course, today’s sports bettor still doesn’t have a leg-up on the oddsmakers, but it is worth noting that the average sports bettors today is much smarter than “Joe Public” was ten years ago. Sure, there were some who created their own projections and betting systems without the help of computers, but those types were few and far between. We’ve come a long way since that time, where bettors basically had the opinion of their friends, television pundits and sports writers. ![]() In the early days of regulated sports betting in the 1970s, and before the industry went mainstream in Nevada, bookmakers factored in public opinion a lot more than they do these days.
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