Stern advice for James, Gilbert and Jesse
Basketball Betting Lines
07/13/2010 - Philadelphia, PA (Sportsbook Betting Lines) - It took the death of a true sports legend, Yankees principal owner George Steinbrenner, to finally knock LeBron James and the NBA from the top of every sportscast across the country.
Conventional wisdom says David Stern was thrilled the LeBron sweepstakes kept people talking about his league during the first two weeks of July, but the commish made it clear Monday that he wasn't on board with the way his biggest star dissed the Cleveland Cavaliers.
Stern had no problem with James' change of address to Miami but wasn't thrilled with the two-time MVP's public announcement during the made-for- television special called "The Decision."
"The advice that he received on this was poor," Stern said after NBA owners meeting in Las Vegas. "The performance was fine. His honesty and his integrity, I think, shined through. But this decision was ill-conceived."
Stern was much harder on Cavs owner Dan Gilbert, fining him $100,000 for a tirade that the commissioner called "a little bit extreme."
After being spurned on national television, Gilbert released a visceral statement calling James' behavior during the special "narcissistic" and "cowardly." He followed that by telling The Associated Press in a phone interview that James quit on the Cavs during the playoffs.
It's hard to argue with narcissistic but Gilbert certainly went over the line when he called James' behavior cowardly and his decision to leave Cleveland as disloyal, charges that didn't go unnoticed by the Rev. Jesse Jackson.
Jackson, perhaps the country's leading civil rights activist, responded to Gilbert's ill-advised remarks by upping the ante with even more explosive and ill-conceived rhetoric.
Jackson said the Cavs owner sees James as a "runaway slave" and spoke as an owner of LeBron and not the owner of the Cleveland Cavaliers, perhaps the silliest comment of all-time since I don't know many slave owners that paid their property over $62 million dollars.
"However well-meaning Jesse may be in the premise on this one, he is, as he rarely is, mistaken," Stern said. "And I would have told him so had he called me before he issued his statement. But he is a good friend of the NBA and our players. Has worked arduously on many good causes and we work together in many matters."
The James-Gilbert-Jackson fiasco may have been the front page fodder but when it comes to basketball the real story coming from all of this was possible collusion -- not from the owners but the players.
When James, Dwyane Wade and Chris Bosh all decided to play together in South Beach after communicating with each other during the free-agent process. Dallas Mavericks owner Mark Cuban cried foul and wanted the league to examine the process.
Most feel the plan by the three to join forces on a so-called "Super Team" had dated all the way back to 2006 when the trio each signed shorter-than- available contracts with an eye on free agency in 2010.
"The three players are totally, as our system has evolved, within their rights to talk to each other," Stern said. "That is not tampering or collusion that is prohibited. That's our rule, right now."
According to Stern, Cuban was a lone voice and no formal complaints were levied at the Board of Governors meeting on Monday.
"Our players, having negotiated for the right to be free agents at some point in their career, are totally within their rights to seek employment with any other team," Stern said. "That's something we agreed to. That's something we embrace. That's our system."
Boston, MA (Sportsbook Betting Lines) - The Boston Celtics have re-signed guard Ray Allen, the team announced Tuesday. Terms of the deal were not disclosed, but reports from last week said Allen agreed to a two-year, $20 million contract. "
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This Week in Auto Racing July 16 - 18 >>
Madison, IL (Sportsbook Betting Lines) - While the Sprint Cup Series takes a break this
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Sportsbooks to bet on football
Recently I had an email debate with an angry reader who said I did not understand "the science of oddsmaking", as he called it.
He said I was wrong for suggesting oddsmakers care about who wins or loses games.
"Oddsmakers only care about splitting the betting public 50/50 on both sides of the line and keeping the commission (a.k.a. juice)," he wrote.
He might have been right about not understanding "the science of oddsmaking". After all, I'm not an oddsmaker. That said, I stick to my assertion that oddsmakers (a.k.a. sportbooks) often do care about who wins games.
Granted, as a general rule, sportsbooks try to balance their action so that they're not exposed to big losses. However, there are times when this is difficult to pull off, regardless of how much a line has moved. There are also times when that general rule is ignored and a book pursues risk.
Generally speaking, it's safe to say the books in Vegas are risk-adverse. Unlike in the past when the wise guys ruled the town, Vegas is now corporate and the goal of most casinos is to make as much money as possible with as little risk as possible.
Thus, Vegas sportsbooks try everything in their power to balance the action. They're satisfied simply collecting the juice. But these profits are small, especially compared to the take from other casino games, namely slot machines.
Because the profits at Vegas sportsbooks are so small, you could argue that many casinos operate sportsbooks simply as a novelty to keep the tourists happy.
With a growing aversion to risk, it should come as no surprise that Vegas bookmakers have been panicking this NFL season.
Despite huge pointspreads, a disproportionate percentage of bettors are still laying their money on favorites like the Eagles, Colts, Pats and Vikings rather than the dogs (a common trend for the largely recreational bettors that visit Vegas).
And much to the dismay of the books, those favorites are finding ways to cover the thick chalk. In fact, prior to Week 7, the four teams listed above are a combined 16-2-2 (88 percent) against the spread. (The tables turned dramatically in Week 7, but more on that later.)
The result has been an early-season beating for the books, and a bonanza for bettors.
While Vegas increasingly hates risk, it's no longer a major player in the sports betting world. Most of the betting action now takes place offshore where sportsbooks are not as obsessed about balance. In fact, some books encourage exposure to risk because the rewards can be so much bigger.
Consider MySportsbook.com. On its website, the book has odds pages which actually display the amount of action it's getting on games. In other words, you can see how much action the book is taking on both sides of a pointspread, moneyline or over/under.
One look at these numbers and it's obvious MySportsbook.com does not balance every game. In fact, far from it.
Take last weekend's matchup between St. Louis and Miami. By game time on Sunday, 83 percent of the betting action at MySportsbook.com was on the Rams; only 17 percent was on Miami.
What's interesting is that MySportsbook.com opened the pointspread with Miami at +6 1/2. By game time, the spread had lowered to +5.
That goes contrary to the balancing theory. If MySportsbook.com had wanted to balance the action, it would have given Miami more points; instead, it took away 1 1/2. World Series odds are now up as well.
MySportsbook.com exposed itself to even more to risk, and rolled the dice on the underdog Dolphins. Why? I contacted a representative with the book to find out. His answer was simple.
"The line moved early based on 'smart money' from sharp players," said Jeff Gilroy, a spokesperson for the book. "We also knew from early in the week that we would need Miami, therefore (we dropped) the spread to encourage Rams money.
"At the end of the day, we liked the home team."
So the conclusion is this: MySportsbook.com respected the sharp action, and gambled that the sharp bettors had a better take on the game than the recreational bettors, who were hammering the visiting Rams.
In the end, the gamble paid off. Miami, desperate for a win in front of its home fans, pounded the overrated Rams, who are terrible on the road and even worse on grass. Final score: 31-14 Fish.
MySportsbook.com was also heavily exposed on numerous favorites in Week 7, including Philadelphia, Seattle and Denver. All three failed to cover.
The fact that sportsbooks are exposed to risk on certain games is really nothing new. The fact, that Sportsbook.com is willing to show the public where it's exposed is intriguing.
Armed with this type of information, bettors can make more educated wagers. They can get an idea where the sharp money is going and conversely where the public money is headed.
MySportsbook.com is opening up its cashbox, letting bettors look inside and challenging them to take their best shot at grabbing the cash.
To visit this online football betting got to MySportsbook.com for all your football betting odds needs. Mysportsbook.com online sportsbook accepts Visa and Mastercard credit cards.