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When the odds are set for sports betting, how often is there an "upset"? Is it rare, or is it a 50/50 shot?
If upsets are indeed rare, wouldn't you come out ahead by simply betting on the favorite every time even though you would have an occasional loss?
there are 2 main ways to bet on a game between 2 teams, where one has advantages;
The system works best in Football, maybe basketball, but odds makers publish whats called a Point spread several days before the game. It is the general consensus of how much better ON PAPER one team is than the other. so, if the LSU tigers played football against the Tulane team, Lsu would probabally be a 40 point favorite, meaning, in order for a gambler to win money on LSU for that game, LSU would have to win by 40 or more. If someone thinks Tulane can stay competitive and not lose by more than 40, then those people would bet on Tulane. Sometimes odds makers will have to adjust their spread after the spread comes out b/c if 80% of the betters' bet one way, obviously the spread needs to be adjusted so that it's roughly 50/50.
there may also be a line for a game like that that LSU's odds to win are 30:1. meaning, if you wanted to bet that LSU would win, you'd have to bet 300 just to win $10. If you bet on Tulane for $10, you could win $300 if Tulane wins.
it's been very very hard the last few years to predict winners. I think if you were a bookie, you'd proabably make more money than the better.
Michael Jackson with Brett Ratner at the set of Red Dragon. (Rare!)
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