Caution: Is NASCAR now in show business?

Autoracing Betting Lines

06/15/2010 - Brooklyn, MI (Sportsbook Betting Lines) - Debris, or not debris? That is the question NASCAR driver Denny Hamlin has been asking after a late-race caution for debris possibly cost him a victory in Sunday's race at Michigan International Speedway.

Hamlin put on one of the most dominating performances of his Sprint Cup Series career at Michigan. Leading a race-high 123 laps, Hamlin held a near 10-second advantage before NASCAR displayed the yellow flag for what appeared to be rubber-like debris on the track with 18 laps remaining.

Unlike last week's race at Pocono, Michigan featured no major drama, at least until that time. Two of the four cautions were for debris. Perhaps the only theatrical moments at Michigan were actors Adam Sandler and Kevin James providing a rather entertaining command to start engines and Red Bull Racing teammates Casey Mears and Scott Speed making contact and crashing one-quarter of the way into the 400-mile race.

So why not throw in a little bit of drama towards the end of a somewhat boring race?

"I understand this is show business," Hamlin said. "I didn't see any debris...We typically get them every single week. I'm not going to say it's accepted, but what can you do?"

While Hamlin debated NASCAR's reason for the caution, second-place finisher Kasey Kahne felt it was justified.

"It was a big piece of debris back there, and I saw it," Kahne said. "I felt good at the time, because I thought we might have a shot."

After the final restart with 14 laps to go, Hamlin pulled away from Kahne and then cruised to his series-leading fifth victory of the season. By the way, his margin of victory was 1.2 seconds, which was a heck of a lot better than a 10-second-plus blowout.

"If I don't win the race because maybe I get a bad restart or something, then probably I'm angry because I feel like NASCAR changed the outcome of the race," Hamlin added.

Michigan continued an ongoing debate on debris cautions that occur late in races. Are they warranted, or is NASCAR trying to liven up things in hopes of a thrilling finish?

NASCAR needs to thoroughly define to teams and fans its policy on debris cautions, especially ones that come in the closing laps.

Otherwise, the question of whether NASCAR is a sport or entertainment industry will remain prevalent.

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Sportsbook Betting Lines

Who Makes the Sportsbook Betting Lines?

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process. Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.

“You either have a passion for it or you don’t,” Seba said.

“The #1 thing for us is to make a line for each game that creates good two-way action. We do this by drawing from past experiences and applying them to current situations. People think it’s much more complicated, but it’s not. “

What are the Football Betting Lines Trying to Accomplish?

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’).

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10).

How the Opening Line Is Made

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. Of course there is an entire method to the madness on how the opening line is created. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. This usually includes having up-to-date power ratings on each team.

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a "preliminary" pointspread on an upcoming game. The power ratings are adjusted after each game a team plays. Examples of non-game factors that would require an adjustment to a team's power rating are key player injuries and player trades.

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team's most recent games played and previous games played against that opponent. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.

Since the oddsmaker’s ultimate goal is equally dividing the sports betting action, public perception and sportsbook betting patterns must be taken into account. For example, the public might have heavy betting interest week after week on a popular college football betting team such as USC. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line "feels right." This is where common sense and past experience with how games are bet enters into the picture.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.

Why Sports Betting Lines Change

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. Reasons for such adjustments include:

Experts working for the individual books having a strong opinion on the game

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action.

Once betting begins, sportsbooks can adjust the line at any time. In doing so they attempt to make more attractive the team that is getting less action. By moving the line, sportsbooks can influence how the public bets on a particular game.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite.

Moving the line is the oddsmaker's effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Oddsmakers have to determine if any changes are necessary and send out an "adjusted line."

“The main objective is that our clients get equal action on both sides,” Seba said. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). If we’ve done that, we’ve done our job.”

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