Pedro vs. the line
Pedro vs. the line
Here's an exerpt from Bob McCune's REVELATIONS IN SPORTS BETTING:
The majority of baseball bettors have established arbitrary limits for themselves as to how much they will 'lay' on a game. The majority will seldom, if ever, lay over a certain amount, say -1.50.....
Here's another aspect of betting on baseball that any bettor should take into account. The oddsmakers and the Books have a major problem in splitting the action. Let's take an example. Your handicapping discloses that Team (A) today, along with starting pitcher and bullpen, game site, and other values considered, purports to be able to beat Team (B) 3 out of 4 times they'd play this game under similar circumstances. What should the line be? Let's eliminate the juice for starters and compute the line I'd make such a line 3 to 1 in other words, I should have to lay $3.00 to win $1.00. I'd win 3 times and make a total of 3 dollars. I'd win the dog once every 4th try and also win $3.00. In the long run it would be a wash to play such a game, either way against a $3.00 line.
...But you will rarely see a $3.00 line, and seldom a line of even $2.50 Why? One reason is because such a disparity would not be acceptable by John Q Public. Everybody, more or less, would take a shot at the dog. Also, such a line would have to be at least a 30 or 40 cents difference between the favorite and the dog......
(books set the fav lower than it should be because people will bet the dog....if the dog wins, they pay out less.)
Anyway, sometimes a big favorite can be a bargain, while a low take-back on a dog can be a liability. Remember, you must win a given percentage of your baseball bets, whether you consider favorites or dogs. If you only win 35% of +1.50 dogs you'll lose money because 40% is break even. Conversely, you must win over 60% of -1.50 favorites to make a profit.
Given that the book IS laying the -300 with Pedro....where do you think the actual line should be?