The LVSCO in a Nutshell at BetLM

The LVSCO in a Nutshell

Odd­s­mak­ers are the bread and but­ter of the sports bet­ting world. Through the care­ful align­ment of points and spreads to vir­tu­ally any sport, odd­s­mak­ers are respon­si­ble for com­ing up with fig­ures that will net Vegas and book­ies the most money. Point spreads come in a vari­ety of ways, from the plus/minus to the over/under. Who is respon­si­ble for cre­at­ing the odds in sports? A gov­ern­ing body? A covert orga­ni­za­tion? Look no fur­ther than the Las Vegas Sports Con­sul­tants Organization.

The Las Vegas Sports Con­sul­tants orga­ni­za­tion are the odd­s­mak­ers respon­si­ble for com­ing up with all of those numer­i­cal point spreads you find in gam­bling mag­a­zines, online posts, and bet­ting web­sites. Las Vegas is the sanc­tion­ing body for all sports books, which means they dis­trib­ute their point spreads for sports books to carry or mod­ify based on bet­tor response. This orga­ni­za­tion is made up of actu­ar­ies, sta­tis­ti­cians, and other sports experts who use data to deter­mine the best line for any pro­fes­sional sports game. Usu­ally, they fig­ure out the odds – a ref­er­ence to the point spread.

Odd­s­mak­ers do more than come up with –10 spreads for a Boston Celtic vs. Dal­las Mav­er­ick game. All insider infor­ma­tion is taken into con­sid­er­a­tion, from fights in the locker room to tur­bu­lent weather that may affect the out­come of a game. Although numer­i­cal and sta­tis­ti­cal data reign based on past trends, these exter­nal fac­tors are heav­ily scru­ti­nized as well. Odd­s­mak­ers are respon­si­ble for doing two things: to earn money with pub­lic losses and to earn money with pub­lic wins. Point spreads have to be aligned so that one half of the bet­ting pub­lic leans towards one team and other half on the other. If 100,000 peo­ple lean towards the Atlantic Hawks –7 spread over the Knicks one night and Atlanta wins by 16, Las Vegas suf­fers a cat­a­strophic loss in rev­enue. Keep in mind that most bet­tors have to pay $30 to win $27 or $10 to win $9. Even with wins, Las Vegas recov­ers 10% of your orig­i­nal bet amount.

All in all, the Las Vegas Sports Con­sul­tants orga­ni­za­tion is respon­si­ble for com­ing up with the point spreads that keep minds occu­pied night after night in pro­fes­sional sports.

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