| Bookmakers in the 20th Century had it
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| | season because public bettors were making
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| easy. Prior to the new Millennium,
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| | more educated wagers. Sports betting is
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| bookies could always count on large
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| | essentially a battle between the public
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| masses of public bettors - referred to as
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| | squares and the professional 'wise guys'.
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| "squares" by those behind the counter -
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| | And you can guess which group usually
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| to blindly bet on the favored team in any
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| | comes out on top. This symbiotic
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| sporting event, especially one involving
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| | relationship is crucial for bookies to
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| NFL football. Often times it didn't
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| | balance their action (and assure a profit
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| matter what number the books released on
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| | via the vigorish, or commission charged
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| a game, the public would bet the favorite
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| | to sports bets). When both groups are on
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| with reckless abandon. This allowed the
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| | the same side of a game, however, it can
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| bookie to set 'shaded' numbers which
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| | spell major trouble for the books."The
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| means they loaded down the favorite with
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| | first half of the year (in the NFL) was
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| extra points. It didn't matter what
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| | like that," said Kornegay of the 2004
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| number the bookmaker strung up on a team
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| | regular season. "The public money and the
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| - especially in big games - the squares
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| | educated money was on the same side. And
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| would line up to take it.Boy, how times
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| | a lot of times during that stretch they
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| have changed.In the last five years,
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| | were correct. So the books really got off
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| bookmakers have noticed a major
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| | to a rough start (during) the months we
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| fluctuation in the way the public wagers
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| | usually have fairly decent numbers. You
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| on sports. Squares can no longer be
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| | (look at) the last couple of Super Bowls
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| counted on to bet the favorite in any
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| | and you didn't always just see a rush of
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| situation. Anticipation of where the
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| | favorite money, you didn't see a rush of
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| handle will fall on a sporting event is
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| | 'over' money and you didn't see a rush of
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| one of the key tools for a bookie in
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| | favorite and over money (on parlays).
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| hopes of securing a strong profit for the
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| | There isn't overwhelming favorite and
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| house. While many public or recreational
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| | 'over' support like there used to
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| bettors can still be relied on to bet
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| | be."Even though the squares are getting
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| their hometown team or an overvalued
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| | smarter and they have shocked bookies at
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| favorite, the group as a whole is
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| | certain points in the last five years,
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| becoming much more educated and much less
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| | all the bookmakers interviewed for this
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| predictable in the eyes of the
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| | article agree that this trend is good for
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| bookmaker."The public is (growing) tired
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| | the industry as a whole. Bookies may be
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| of getting burned by just betting the
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| | forced to adjust their strategies to
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| favored team," said Jay Kornegay,
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| | adapt to the new marketplace, but the
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| executive director of race and sports for
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| | increased volume that comes as a result
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| the Las Vegas Hilton. "It's hard to even
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| | of more educated and more interested
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| say 'squares' anymore because they are
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| | bettors is considered a major positive."I
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| just more educated players."The
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| | think it's great," commented Kornegay.
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| Information Age has ushered in a new
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| | "The volume is terrific. The more
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| breed of sports bettor. Recreational
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| | interest we have, the better. It makes
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| bettors do their homework. They research
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| | our job more difficult and there is not a
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| games on the Internet. They watch 24-hour
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| | problem with that. It's just more work
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| sports news programs. They listen to
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| | for us. We pride ourselves on that
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| radio talk shows. They are familiar and
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| | so-called art form of bookmaking and that
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| comfortable with sports betting and they
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| | is something we have to rely on more and
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| understand the point spread. Most
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| | more every year.""I think bookmaking is
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| importantly, they realize that there can
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| | kind of an 'over-time' kind of thing,"
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| be value in taking the points."People are
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| | added Beil. "The idea is still to put up
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| just more educated," said Tony Sinisi,
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| | a good, strong number and over time the
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| odds director for Las Vegas Sports
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| | bookmaker should win out. That isn't
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| Consultants, the Southern Nevada-based
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| | necessarily the case on a day-to-day
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| odds firm responsible for supplying point
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| | basis or an event-to-event basis. I think
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| spreads to more than 90 percent of the
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| | the popularity of our industry helps our
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| books in the state. "There are more
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| | industry. The popularity of sports
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| sources to get information. There's the
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| | betting is nothing but a positive (for
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| Internet, there's a myriad of sports
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| | the book)."There is also more to sports
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| shows on television. If you are looking
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| | betting than just being informed. Bookies
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| for (the information) you can certainly
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| | and oddsmakers both agree that
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| find it and you are going to become a
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| | interpretation of the information is
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| more educated bettor.""It seems like
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| | critical in regards to long-term gambling
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| people are just more accustomed to what
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| | success."I think that even if you have
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| the numbers mean and what types of
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| | good information, unless you are a
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| different bets there are," added Doug
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| | professional player, there are a lot of
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| Beil, race and sportsbook manager for
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| | ways (things) can go bad," said Sinisi.
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| Terrible's Hotel/Casino in Las Vegas. "In
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| | "There's a lot of pitfalls out there.
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| year's past there would be a significant
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| | It's not just picking a particular
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| amount of people that would come to the
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| | winner. It's money management. It's
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| counter where I work and ask 'what does
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| | dealing with emotions (and) greed. A lot
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| minus seven mean?' You still get that
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| | of it is the interpretation of the
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| customer and you still get that kind of
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| | information. The sophisticated bettor is
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| question, but I think the frequency of
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| | taking 10 on a game that he should only
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| that is much less than it used to
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| | be taking eight on. It's the
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| be."Super Bowl XXXVII was one of the
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| | idiosyncrasies, the value judgments that
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| first major betting events in which the
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| | are being made by the wise guys that
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| squares shocked Las Vegas bookies by
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| | (differentiate them from the
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| going against typical wagering patterns.
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| | squares)."Bookies must now make
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| 'Sin City' gets so many California
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| | adjustments in the way they operate. They
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| visitors that the Oakland Raiders are
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| | can no longer anticipate that the public
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| usually a very popular 'public team' with
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| | will lay all their money down on inflated
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| the squares. In this big game they were
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| | favorites. Shading - although still
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| facing off against the Tampa Bay
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| | prevalent in the industry - is becoming
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| Buccaneers. Oakland was a slight favorite
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| | less widespread. Larger line movements
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| and the public was expected to bet them
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| | will become more commonplace as the
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| heavily (the oddsmakers shaded the line
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| | squares and wise guys load up on the same
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| in anticipation of excessive Raiders
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| | side of games, causing bookies to become
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| handle). On game day, however, the public
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| | more aggressive in an attempt to attain
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| bucked all the trends that have taken
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| | balanced books."We used to anticipate and
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| place in Las Vegas books for more than
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| | we could pretty much predict (the handle)
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| three decades and bookmakers saw a huge
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| | just by looking at the game a week in
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| influx of Tampa Bay money, much of it
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| | advance," concluded Kornegay. "But now it
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| coming in on game day. The Buccaneers won
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| | is more or less monitoring during the
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| the game, 48-21.This year's NCAA
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| | course (of time) that the wagers come in.
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| Basketball Tournament provided even more
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| | And it makes us analyze the type of money
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| surprises. Las Vegas hotels are booked
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| | that is coming in more - how fast we
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| solid months in advance for the tourney,
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| | should move (the number) or not move it
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| which is almost as big as the Super Bowl
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| | at all. It's definitely more of a
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| for local sportsbooks when you add up the
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| | challenge. Analyzing the type of money
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| combined handle for the entire event. The
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| | coming in is now probably our most
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| public has always bet the popular teams
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| | valuable tool."
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| in the tournament but this year major
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| | Doc's Sports Handy Links:Jeremy Martin
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| books like the Stardust and the Hilton
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| | archiveWorld Cup 2006Breeders Cup
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| actually needed some big favorites like
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| | 2005Doc's Sports Handicapping Service
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| Duke and Kansas to cover in some of their
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| | 1-866-238-6696Since 1971 Doc's Sports
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| games. This would have never happened 10
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| | has been recognized as one of the leaders
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| years ago.Kornegay said that the Hilton
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| | and most trusted names in sports
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| got off to a bad start last football
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| | handicapping information.
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