These opening bettors are really just buying and selling teams at certain prices, and lines will eventually settle once those bettors feel that the price is correct. The price on a particular game, once settled, has come from the wisdom of the crowds, not the almighty bookmaker. This gives those books the opportunity to gather information and create a relatively accurate price without exposing themselves to big financial risk. (Anyone can bet, but it's the pros who know when these markets open and have the reputation and capital to influence line moves). Then sharp bettors will wager at lower limits - just a few hundred dollars or low four-figures, usually. Odds actually originate at just a few sportsbooks around the world, with different books specializing in different sports. That's why you'll hear people say 'the betting market thinks this' and not 'oddsmakers think this.' They copy lines from other books, then manage risk. They're buying into the market at that price against the sportsbook, which is really just serving as an intermediary between you and other bettors. Someone else might like Steelers -3 in the same game. A market might deal in the trades of stocks, fruit, housing and everything in between.Īs bettors, we're really just buying and selling teams at certain prices - I like the Broncos +3, so I'm buying into the market at that price against the sportsbook.

A market can have two options or 200.įrom Investopedia: A market is any place where two or more parties can meet to engage in an economic transaction. What does the betting market think of this game?Īnything offered by a sportsbook - from an NFL point spread to futures on who will win the NBA title - is a market. Have you ever heard someone reference this mysterious betting market? Their language may sound something like…

What does mean in sports gambling