the NFL sports betting market is so efficient that by this time in the week nearly every line is going to be between 48-52% likely to win/lose. What ends up happening when people bet sports is their cognitive biases lead them to value select factors/variables over others, so they think one side is a "good bet." Then they make the bet, and due to the variance of such a small sample size(You'd need to make 5000+ bets before having any clue if you're actually a winner, or you'd have to have a solid record against closing lines over 1000+ bets) they become overly results oriented- so when they go on a heater, they think they have some mystical ability to "beat Vegas" when in reality its just them flipping a coin a bunch of times, landing on heads more than tails, and thinking that they are good at landing on heads.Cliffs: Just pick a side randomly if you want to have a rooting interest.
other than it beats public money given 10% juice, why do you think the vegas line is that efficient?
Not sure I'm completely understanding the question, but I"ll try to answer...Theres a reason why many sportsbooks will run promotions such as "5% juice on Fridays"- Every winning sports bettor I've ever met either bets on opening lines(literally within minutes of them coming out), or they actually influence the lines to their liking and manipulate the system. The latter is far beyond any of our means(or bankrolls), so if you wish to have a chance at winning longterm you need to be doing the former.The one +EV sports betting venture I ever had was when I was a part of a group that developed(mostly others, I did very little actual work on this) a NBA computer simulation. It took about 3 years for our group to write this program. With this program we were able to bet on opening NBA totals as soon as they came out, and eek out a 1-2% ROI. We knew we were beating the market not just because we were winning money but because we had a good record against closing lines. Of course, after a few weeks, sportsbooks started cutting of our action or stopped letting us bet on overnight NBA totals(withholding the lines from us until the following day).To answer your question: Its not just that "Vegas" is that efficient. Its the combination of Vegas' opening lines being very close to efficient and then all the sharps immediately jumping on any line that is off, the books quickly adjusting their lines, and the market then being so efficient that the juice will make up for any degree off from 50%/50% the line is. I guess I would ask you in return- what makes you feel that the market wouldn't be efficient?(I'm assuming you feel this way due to your question, apologies if I'm reading too much into that though)