George Steinbrenner's best chance in Kentucky Derby

Horseracing Betting Lines

07/13/2010 - Philadelphia, PA (Sportsbook Betting Lines) - Tuesday the sports world lost one of its most recognizable figures when a heart attack claimed the life of George Steinbrenner. The owner of the New York Yankees passed away at the age of 80.

While best known as the owner of the Bronx Bombers, the Ohio-native was very much involved in thoroughbred racing. He raced under the name of Kinsman Stable and bred horses at Kinsman Farm in central Florida.

"The thoroughbred racing world joins the rest of the sporting community in mourning the death of George Steinbrenner," said Alex Waldrop, President and CEO of the National Thoroughbred Racing Association. "He was a devoted owner and breeder and philanthropist for more than 40 years, and his Kinsman Farm near Ocala, FL, produced numerous stakes winners. His many contributions to our sport are greatly appreciated, and he will be sorely missed."

Steinbrenner never won a Triple Crown race, though he had serious contenders for the Run for the Roses. In 2005 he even had the post-time favorite for the 1 1/4-mile race at Churchill Downs.

Bellamy Road, a colt purchased by Steinbrenner, had won the Wood Memorial at Aqueduct prior to starting in the Kentucky Derby. The three-year-old was made the 5-2 favorite for the race over Arkansas Derby champ Afleet Alex, Santa Anita Derby winner Buzzards Bay and Blue Grass Stakes champ Bandini.

Ridden by Javier Castellano, Bellamy Road sat third at the start behind pacesetters Spanish Chestnut and Going Wild. Coming off the final turn, Steinbrenner's colt was second, only a head in back of stablemate High Fly.

But Bellamy Road picked the wrong year to challenge for the lead in the Kentucky Derby. The fast pace (the first six furlongs went in 1:09 2/5) took its toll on the front-runners and a pair of longshots Giacomo (50-1) and Closing Argument (71-1) came charging down the stretch to finish first and second, respectively.

Steinbrenner's horse couldn't keep up and faded to seventh in the 20-horse field. Bellamy Road was one of six Kentucky Derby starters that Mr. Steinbrenner had.

Bellamy Road was not entered in the remaining two Triple Crown races, but he came back to finish second to Flower Alley in the Travers as the 2-1 second choice.

In his career Bellamy Road won four of seven starts with one second-place finish and banked $811,400.

"The two best horses I ever trained,' said Nick Zito, "were Unbridled's Song and Bellamy Road."

Along with his involvement with Major League Baseball and thoroughbred racing, Steinbrenner was a benefactor of the Penn Relays track and field carnival. His father, running for MIT, was the 1927 high hurdles champion at the Franklin Field event. George was a hurdler at Williams College and the Lockbourne Air Base.

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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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