[fullor30]

Originally Posted by Mark Padgett

Guys, since we're on the subject, let me quickly explain to you why bookies don't care who wins. This was explained to me when I was just a wee lad by my grandfather, who at one time worked for Al Capone in the gambling "bidness" back in Chicago (and no - I am not making that up, he really did - and then he moved to Tahoe then Vegas to finish out his career). The bookies set the point spread based on what spread they think will get an equal amount of money bet on each team. As the money comes in, if it is heavy on one team, they will move the spread to encourage more to be bet on the other team. When you place a bet with a real bookie, you in effect pay a service charge. That's why they want to eliminate their risk by having an equal amount bet on each team - they make their money on the service charge (sometimes inaccurately referred to as the "vig" - that's something else entirely). If, during the betting process, they have a surplus bet on one team, they will lay off a lot of that with other bookies to get themselves back into a "balanced" position.

So the next time there is a major upset and you hear someone say that the bookies took it in the shorts, you can just laugh because you know it's not true.

So the next time there is a major upset and you hear someone say that the bookies took it in the shorts, you can just laugh because you know it's not true.[/QUOTE]

Not quite true........you're assuming that their 'network' of books allows them to layoff. For example, if everyone jumps on a team, as a book you would want to lay that off. Your other book may not want or take any more action on said team. This is not a problem usually in Vegas but with small time bookies in smaller towns they do take it in the shorts. Also consider if the action is heavy one way and the line goes up or down, you could lose both ways.