Think you know something about gambling ?
Sure you know alot about sports & how the books work.
But do you know who Billy Baxter is ? Anyone ?
I'm sure a few of us here at MJs know of this person.
Bubba. Fletch. Vegas Dave. etc...
Or if you are a professional gambler or an employee of one of many betting establishments here in the fabulous city of Las Vegas.
Baxter is a good guy to emulate if you're considering plopping down your money on a sports wager. Baxter is a professional gambler who wagers as much as $1 million a weekend on football alone. The most action for sport books comes twice a year of course those being the Super Bowl & Final Four.
To the directors of the sports books, Baxter and his fellow professional bettors are known as Wise Guys. They are also trend-setters who can move a betting line with one wager.
The line, or the odds, is set by the sports books to entice bettors. A common misconception is that the line is a prediction by sports book operators about the outcome of a game. In fact, the line is not about sports at all; it's about protection.
If the line favors Tampa by 3 over the JETS it's because the sports book's handicappers believe 3 is the ideal number to draw an equal number of bets on either side. That way, they don't take a serious financial hit regardless of the outcome.
In Nevada, the ONLY state where betting sports is legal, the Nevada Gaming Board in 2002 estimated that $1,936 billion was wagered that year from everything from straight bets to off-the-wall wagers (props) which some people refer to as "sucker bets".
It's not the sort of action Baxter would take.
But a "square" would. That's how sports book personnel refer to the general public, which tells you what they think of our expertise.
According to Robert Walker (MGM R/S Director) it takes 1,000 squares betting the same way to move the line a half point.
Billy can do that with one bet.
Sure you know alot about sports & how the books work.
But do you know who Billy Baxter is ? Anyone ?
I'm sure a few of us here at MJs know of this person.
Bubba. Fletch. Vegas Dave. etc...
Or if you are a professional gambler or an employee of one of many betting establishments here in the fabulous city of Las Vegas.
Baxter is a good guy to emulate if you're considering plopping down your money on a sports wager. Baxter is a professional gambler who wagers as much as $1 million a weekend on football alone. The most action for sport books comes twice a year of course those being the Super Bowl & Final Four.
To the directors of the sports books, Baxter and his fellow professional bettors are known as Wise Guys. They are also trend-setters who can move a betting line with one wager.
The line, or the odds, is set by the sports books to entice bettors. A common misconception is that the line is a prediction by sports book operators about the outcome of a game. In fact, the line is not about sports at all; it's about protection.
If the line favors Tampa by 3 over the JETS it's because the sports book's handicappers believe 3 is the ideal number to draw an equal number of bets on either side. That way, they don't take a serious financial hit regardless of the outcome.
In Nevada, the ONLY state where betting sports is legal, the Nevada Gaming Board in 2002 estimated that $1,936 billion was wagered that year from everything from straight bets to off-the-wall wagers (props) which some people refer to as "sucker bets".
It's not the sort of action Baxter would take.
But a "square" would. That's how sports book personnel refer to the general public, which tells you what they think of our expertise.
According to Robert Walker (MGM R/S Director) it takes 1,000 squares betting the same way to move the line a half point.
Billy can do that with one bet.
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