Re: What do line movements tell us?
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Agreed for sure. The business is gambling. Just as we are all gambling, so are the books, but as BMO said, just with a built in edge just in case, so they can actually afford to gamble more. Who are they going to gamble with, the sharps for the squares? I think a big misconception for beginners is that the books are looking for balanced action constantly.
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This is something I've been wrestling with recently. My roommate asked me a couple nights ago how the books set a line. I wasn't positive if they tried to have balanced action or took a risk to find the largest +EV. I figured it was a little bit of both.
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