NFL: Why it Makes Sense to Go Against the Public
Steve Drumm
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One of the most effective ways to beat the NFL
pointspread, particularly after the first 2 weeks of the regular
season, is to go against the public. This is because the NFL is
the sport that is not only the most heavily bet on but also the
sport that the public does the worst at. In fact, the public
wins less than 50% of the time, and hence they'd do better if
they flipped a coin. Therefore, I naturally incorporate going
against the public into my system. Specifically, I use my inside
contacts to find out where the public is on games, and then
usually go the other way (especially if the public is lopsided
on a game, i.e. 70/30 or more). Since I am a contrarian by
nature, going against the public comes naturally to me. I by no
means do this blindly, as it accounts for about 30% of my
system. But very rarely do I go with the public on a game that
the public is lopsided on, and when I do, its almost always a
small play. On the other hand, it is likely, but by no means
certain, that I will go against the public in games, especially
games that the public is lopsided on.
And contrary to popular belief, one can't look at line moves to
determine where the public is on a game. This is true for
several reasons. First, where the public is (i.e. the number of
people betting on each side in a game) and where the money is is
not always one and the same. Often times the public will be on
one side in a game and the money will be even or on the other
side. Second, line moves are often determined by which side the
wise guys play, not which side the general public plays. Third,
often times the linesmakers adjust the line to take into account
injuries that they did not know about earlier in the week. And
fourth, the linesmakers often move the lines without concomitant
action as a means of fooling the public, i.e. to get them to bet
on the wrong side and/or to get more action on a game.
One may ask, why is it that the public does so poorly wagering
on the NFL? Well the fact that the NFL is the sport that is the
most heavily bet on is precisely one of the main reasons why the
public does worse on it than it does on all other sports.
Serious betters, including wiseguys, have a tendency to bet most
or all sports, as they are doing it to make money (they view
their sports betting as a business). This serves in contrast
with more casual betters, who wager primarily because they have
an interest in the sport that they are betting on and/or are
seeking a "rush". Since the NFL is not only the most followed
sport but also the sport that people are most likely to get a
"rush" off of betting, it naturally attracts a lot of casual
betters. This, in turn, causes the skill level of the median
better to be lower in the NFL than it is in other sports.
Additionally, since the NFL is the sport that is the most
heavily bet on, that gives the bookmakers an incentive to
concentrate a disproportionate amount of their attention and
time on setting sharp NFL lines. Such lines are designed to
maximize their profit margins for the NFL, and hence their
overall profitability.
This brings me to my next point. The lines are set in such a way
as to either get even action on a game or to get the majority of
people on the wrong side. How do bookmakers do this, you ask?
Well first off they decide what the true line, or what I like to
call the "value line" is. Say, for example, that the Packers are
playing the Bears at home, and the bookmakers determine that the
true value line is Green Bay -6.5. This means that the
bookmakers believe that if the Packers played the Bears 1,000
times in Green Bay (hypothetically, of course, with each team
having the same players injured in each game as they do now),
Green Bay would win by 7 points or more 500 times, with either
the Packers winning by 6 points or less or the Bears winning
straight-up the other 500 times.
However, contrary to popular belief, bookmakers don't stop
there. They then gauge what the range is of what I like to call
the "public perception line" (which reflects the opinion of the
median better), i.e. the line that will evenly divide the public
50/50. Say, for example, that in the Packers/Bears scenario
bookmakers determine that the public perception line is
somewhere between Green Bay -8 and Green Bay -10. They'll
naturally set the actual pointspread at Green Bay -8, because
Green Bay -8 is the number within the public perception line
range that is closest to the "value line". Thus, if it turns out
that the public perception line really is Green Bay -8, the
bookmakers will get even action on the game and they will be
guaranteed to make the vigorish as a profit. To take things to
the other extreme, if the public perception line is really Green
Bay -10, then bookmakers will get a disproportionate amount of
action on the Packers. Since the actual pointspread (Green Bay
-8) is greater than the value line (Green Bay -6.5), the Bears
would be the "right" side (or the smart side) to bet. Hence, the
majority of the public is on the wrong side in the game. And
this example illustrates the main reason why when the public is
lopsided on a game, they are usually on the wrong side
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