Dual Lines Explained

Dual Lines Sports Betting

There may be some online sportsbooks that present a different set of odds to sharp bettors than they do to standard bettors. This is known as offering dual lines. Those who have become very skilled at betting or bettors who have a stroke of luck will be able to find dual lines presented at leading betting sites. These dual lines often provide one that offers less value when betting on the underdogs. There is a reason sportsbooks do this. Here, we discuss how dual lines work and why they are featured at some of the most prominent sports betting websites.

❓Dual Lines?
🔍Sharp Bettors?
📈What is +EV
📊Differing Underdog Odds
✅Pros & Cons

What are they?

When a sportsbook offers dual lines, they are simply presenting two different sets of odds to customers. This can be one way for a betting site to have some protection against sharp bettors. The public will see a certain set of odds while sharp bettors will be presented with an entirely different set of odds for the same event. In order to get a full understanding of why this is done it is important to learn about sharp bettors and how they have an impact on odds that are presented at any online sportsbook.

What are Sharp Bettors?

In the world of sports betting, an experienced or professional bettor who has a good success record is referred to as a sharp. These long-term winning bettors place wagers that are noticed by the betting site and the result can be a change in lines. If multiple sharps are placing bets on the same side of a certain game, the line will change and the odds will be adjusted.

To be considered a sharp bettor, more than 52.4% of the best that are placed must be winners. This is the break even point with a standard betting market offering odds of -110. Most sharps win more than this amount, with some reaching as high as 65%. These bettors are not in it for the entertainment. They use betting as a way to make a living and they spend many hours analyzing stats and performing research. These individuals are also known for placing very large bets and they will only place a wager when there is a positive expected value.

Understanding Positive Expected Value (+EV)

Every bet that is placed at a sportsbook will have expected value, which is the difference between the true odds and the odds that are listed at a site. By identifying positive expected value, bettors can place wagers on events that are more favorable than the true odds. Sharps use positive expected value to measure the probability gap. A percentage is placed on that gap and bettors only place a bet when there is a positive expected value. In short, they seek out bets that are mathematically profitable. Sharps will usually bet on as many +EV opportunities as possible. When these +EV wagers are lacking, these bettors hold back on wagers.

sharp bettors seek out bets that are mathematically profitable.

Calculating the expected value when betting can be done using online tools. It can also be done by taking the winning implied probability and multiplying that by the profit if the bet is won. That amount is then subtracted from the losing implied probability multiplied by the stake. If the result is a positive number, there is positive expected value. The goal is to find bets that offer expected rewards that will be more than the expected loss amount.

Underdog Odds for Sharps

When sportsbooks are able to identify sharp bettors, they will always provide these customers with worse odds on underdogs. This is because the bets on underdogs are where most positive expected value bets are found. Casual sports bettors are often attracted to the favorite and will place bets on the popular team, even when the odds do not justify a bet. The odds that are posted for these customers are a bit inflated because the site knows that the public will place the bet with the better odds. This forces customers to bet on the underdog so that bets on both sides become balanced.

However, as soon as the site realizes a customer is a sharp bettor, the lines offered will be adjusted. Dual lines now come into play. The public will see one set of odds for the underdog while sharps receive another. The lines offered to sharps remove the positive expected value.

Dual Lines: Good or Bad?

Now that dual lines have been explained, it is time to determine whether these are good or bad for bettors. For sharps, dual lines are not a good thing. They drastically reduce the positive expected value options that are available. Even though sharps suffer from the loss of positive expected value wagers, dual lines can create them for other bettors.

If a site presents dual lines, sharps will be forced to search for value that still exists. In some cases, this means having to switch sports to find the best value. Dual lines will also provide more value on public teams.

Public bettors will benefit from dual lines. Those who have done the research needed and understand how sports betting works will be able to find value in underdogs. Unless the bettor is set on placing bets on the favorite at all times, dual lines can be a great option for public or casual bettors. The public version of the odds that are offered will level the playing field, offering more opportunities for inexperienced bettors.

Conclusion

When a sportsbook offers a public line and a sharp line, they are taking steps to prevent sharps from profiting and gaining an edge. Dual lines are a way for the sportsbook to remove the positive expected value, forcing sharps to seek out other bets and possibly place wagers where there is not as much value. Those with experience will still be able to find profitable wagers. Dual lines are simply a strategy performed by the sportsbook to protect sharps from winning large amounts. The altered odds reduce the +EV for sharps while presenting decent odds for public bettors.

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