08/07/2008 -
Manhattan, KS (Sportsbook Betting Lines) - Kansas State announced Thursday that head
football coach Ron Prince agreed to a new multi-year contract, keeping him
with the school through the 2012 season.
The new five-year deal is retroactive to January 1 of this year and extends
through 2012, and replaces the original contract Prince signed in December of
2005.
"We are pleased with the direction of our football program under the
leadership of Ron," athletic director Bob Krause said. "He has a plan in place
and is right on course with that plan and this new contract provides one
additional year on top of the additional year he earned by leading the
Wildcats to a bowl in his first season."
In his first two years on the job, Prince has compiled a 12-13 overall record
and led Kansas State to wins over top 10 opponents in consecutive seasons,
which also included the program's first-ever road win over a top 10 team last
year at Texas.
"I am very appreciative of the commitment that the university has shown to our
organization," Prince said. "The administration has proven its long-term
commitment to us as a program as evident in the current facility expansion and
other projects that are essential for sustained success. We feel that we are
on schedule with our plan of building a fast, tough, strong and disciplined
program and are looking forward to this season and many seasons to come."
Prince's base salary for 2008 will be $143,000 with a total guaranteed package
of $1.1 million, which includes compensation from endorsements such as
television, radio, internet, personal appearances and shoe and apparel. Prince
could also earn up to an additional $950,000 per year in performance-based
incentives.
Report: Florida TE Ingram has torn ACL >>
Charlotte, NC (Sportsbook Betting Lines) - University of Florida senior tight end
Cornelius Ingram has reportedly torn the anterior cruciate ligament in his
left knee, effectively ending his 2008 season.
According to Sporting News, Ingra
Clippers add veteran Williams >>
Los Angeles, CA (Sportsbook Betting Lines) - The Los Angeles Clippers signed veteran
guard Jason Williams, who had been with the Miami Heat. Per team policy,
terms of the deal were not disclosed.
The 32-year-old Williams joins his fourth
Karlsson, Jeev Milkha Singh and Romero lead suspended PGA >>
Bloomfield Hills Township, MI (Sportsbook Betting Lines) - Robert Karlsson of Sweden and
India's Jeev Milkha Singh both posted rounds of two-under 68 on Thursday and
share the lead with Andres Romero during the suspended first round of the PGA
Champio
PGA Championship First Round News & Notes >>
Bloomfield Hills Township, MI (Sportsbook Betting Lines) - Despite the fact they share a
surname, there is no relation, whatsoever, between Jeev Milkha Singh and Vijay
Singh.
"In the practice rounds I can hear a lot of people say, 'Oh, I think he
Blumenherst continues to roll at U.S. Women's Amateur >>
Eugene, OR (Sportsbook Betting Lines) - Amanda Blumenherst rolled to a pair of wins
Thursday to advance to the quarterfinals of the 108th U.S. Women's Amateur at
Eugene Country Club.
Blumenherst, the NCAA Player of the Year and last year's r
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.
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 sportsbook got to MySportsbook.com for all your football betting odds needs. Mysportsbook.com online sportsbook accepts Visa and Mastercard credit cards.
