NCJ Number
143860
Date Published
1979
Length
8 pages
Annotation
This article explains the fundamental concepts of the methodology and terminology used by a bookmaker in accepting wagers on baseball games.
Abstract
Generally, a "line" is the points added to the underdog's final score or subtracted from the favorite's final score to match the teams more evenly for the purpose of wagering. The differences between the line for baseball and other sports are dictated by certain inherent characteristics of the game. These characteristics not only affect the derivation of the line, but also the method of calculating the potential payoff on winning or losing wagers. This article explains how the distinctive characteristics of the game of baseball determine the line, such as the length of the regular playing season; the playing of games in rapid succession; and the strategic importance of the pitcher, who changes from game to game for each team. When compared to other sports, there are two primary factors that make baseball wagering unique: the bookmaker's profit margin ("juice" or "vigorish") is included in the line, and the line is the product of the performance of primarily one player, the pitcher. In addition to explaining the complexities of the methodology for determining the line in baseball, this article explains the distinctive method of achieving a "balanced book" in baseball betting. This occurs when a bookmaker accepts an equal amount of wagers on both sides of a single contest, a condition under which the bookmaker cannot lose money. 12 figures