Larranaga receives three-year extension

NCAA Basketball Betting Lines

01/27/2012 - Coral Gables, FL (Sportsbook Betting Lines) - Miami-Florida men's basketball coach Jim Larranaga has agreed to a three-year contract extension that will keep him with the Hurricanes through the 2018-19 season.

Larranaga is in his first year with the Hurricanes after building a successful program at George Mason. Miami is 11-7 this season, including 2-3 in the ACC.

"I'm thrilled with this three-year extension and the commitment it shows to our program," Larranaga said in a statement. "My staff and I are confident we can build the type of program that will be a source of pride for the entire university."

Larranaga left George Mason last spring as the school's all-time wins leader, going 273-164 during a tenure highlighted by a memorable and surprising Final Four run in 2006.

"Jim is a first-class representative of our university and we look forward to having him at the helm of our program for many years to come," said Miami athletic director Shawn Eichorst.

The 62-year-old Larranaga was also head coach at Bowling Green (1986-97) and American International College (1977-79). He took over at Miami after Frank Haith left to take the vacancy at Missouri.

Silverdollarscasino NCAA Basketball Betting News

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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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Super Bowl XLIII Betting Odds

Super Bowl XLIII, the Arizona Cardinals and the Pittsburgh Steelers.

Super Bowl XLIII is now set, the Arizona Cardinals and the Pittsburgh Steelers will meet each other on February 1st in Tampa's Raymond James Stadium to battle it out for the coveted Lombardi Trophy. The game kicks off at 6:00pm ET on NBC with announcers Al Michaels and John Madden covering the on-field action. Super Bowl XLIII betting odds at online bookmaker MySportsbook.com have the Steelers listed as an early -6.5 against the spread favorite.Super Bowl XLIII Betting Odds

Pittsburgh earned their passage to the big game by beating their division rival, the Baltimore Ravens, 23-14 in yesterday's AFC Championship Game. The Steelers jumped on Baltimore early, building a 13-0 first half lead, and never let up on their way to a fairly easy win. Although the Ravens did close to within two points in the fourth quarter, it never appeared as if they had enough offense to pull off the upset.

The Steelers dominating defense held Baltimore to a total of 198 yards while allowing them to convert just three third downs in 13 attempts. Pittsburgh also forced quarterback Joe Flacco into three interceptions, one of which safety Troy Polamalu returned fourty yards for a touchdown.

The Cardinals, by far the playoff team with the longest odds to reach Super Bowl XLIII, did so yesterday with a 32-25 upset of the Philadelphia Eagles in the NFC Championship. Arizona charged out of the gates and built a 24-6 halftime lead that had the Eagles venerable defense reeling. Quarterback Kurt Warner and wide receiver Larry Fitzgerald did most of the damage, connecting on three first half touchdowns.

Arizona, however, could not sustain their momentum and the Eagles took a 25-24 with 10:45 left to play in the fourth. The Cardinals, with the franchise's first Super Bowl appearance hanging in the balance, mounted a fourteen play, 72 yard touchdown drive that consumed 7:52 off the clock. Warner hit running back Tim Hightower on a short screen for the go-ahead, game clinching score that will forever live in Cardinal infamy.

MySportsbook.com's Super Bowl XLIII Betting Odds:

Pittsburgh Steelers -6.5 (-110), Over 46.5 (-110), -260 (Money line)

Arizona Cardinals +6.5 (-110), Under 46.5 (-110), +220 (Money line)

Matt Foust won both of his conference championship plays yesterday and he is ready to serve up plenty of Super Bowl action. Each individual play costs $15.00, however, MySportsbook.com recommends purchasing Matt's NFL Playoff Package which includes all of Matt's Super Bowl props and picks from just $45.00.

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