Who Sets Betting Lines?

The betting line is a concept we discuss a lot when we talk about sports betting.  It is one of the most basic concepts you need to be familiar with; being able to “shop the lines” for the best betting opportunities is as much the key to success as knowing who is likely to win or lose on the field.  But who actually sets the betting lines that are offered to you by online betting sites?

As you have certainly observed by now, lines move, and being able to time your wager is part of getting a good deal.  The money line tells you which teams and players are favoured and which are the underdogs, and how they are valued by the betting site and the public.  Your goal when shopping the lines is always to find a way to save money while placing a smart wager.  Money lines can vary from one online betting site to another, and may adjust as you get closer to a sporting event.

The initial betting line, usually referred to as the “opening line” or the “overnight line” is generally provided by a smart sportsbook in Las Vegas.  Usually these bookies have in-house odds compilers, and may also work with a service called the Las Vegas Sports Consultants (LVSC).  This group also works with the Oregon State Lottery as well as bookmakers in Europe.  Some online betting sites in Europe may also have their own odds compilers in-house.

Odds compilers are professionals who focus full-time on sports betting.  They use complex computer algorithms and math formulas to help them make their initial guess about the outcome of an event.  They are also aware of public sentiment and incorporate their knowledge of public opinion into the opening line that they offer.  This offer goes out to select professional bettors (sharps), who then decide what to do.  This provides the oddsmakers with more information to refine the money line.  If any relevant news has surfaced during this time period, this will lead to further adjustments.  This new revised money line is then offered to the public.

At that point, many bettors will jump in there and place a wager, while others will wait to see if the line will move.  As the public places their bets, the online betting sites may continue to further adjust the line in order to encourage bets on the underdog. 

So that is where the money line comes from and how it evolves.  You can see why even opening betting lines may vary from one online betting site to the next, and why the lines continue to move as time goes by.  There are so many different factors which go into calculating and producing betting lines.  Unless you were a professional oddsmaker, there would be no way for you to understand all of the intricacies.  You should however cultivate as much knowledge as you can about betting lines, how they work, where they come from, and what they mean.  This will help you to find the best deals and win your wagers!