The Cooler


Today's must-read:

Of all the major forms of betting — lotteries, poker, craps, slots, football — college basketball is almost certainly the easiest to fix.

It is played by young men who don't usually have a lot of money. With just five players on the court, one person can determine the outcome. And the point-spread system, in which bets are based on the margin of victory rather than wins and losses, allows players to fix a game without losing it...

Mr. Wolfers has collected the results of nearly every college basketball game over the last 16 years. In a surprisingly large number of them, it turns out that heavy favorites just miss covering the spread. He considered a number of other explanations, but he thinks there is only one that can explain the pattern. Point shaving appears to be occurring in about 5 percent of all games with large spreads.

News ::


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Oooo... (none / 0)

...while it seemed like the article could've been 2,000 words, I was shocked it was only 1,000.  While I believe Vegas is that good at picking numbers, I remain unconvinced by that article to believe that what's going on is point shaving or anything like that - especially since no hard evidence about certain programs more likely to do it wasn't provided.  I would require a lot more data to be convinced.

by Anonymous Hero on Wed Mar 08, 2006 at 09:25:45 AM EST
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Evidence????? (none / 0)

Just looking at the numbers isn't going to be that convincing.  If he has signatures, bank statements, or photos, I'll buy it.

The fact is, it's difficult to beat any able-bodied basketball team by 30 pts.  On top of that, when a team is up by 30, they don't usually keep the starters in.  It's not surprising, then, that a team could beat the huge spread in the last few minutes of a game in which they were getting beaten so handily.  


by HeyDingis on Wed Mar 08, 2006 at 10:46:27 AM EST
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We call that... (none / 0)

...the backdoor cover.  And it really, really stings...haha

by Anonymous Hero on Wed Mar 08, 2006 at 11:27:58 AM EST
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Did John McCain write that article? (none / 0)

McCain is on a crusade against sports betting for whatever reason.

But it's laughable at best because the only way to control point shaving is by allowing legitimate avenues for sports betting.  Eliminate the Vegas lines and here comes the illegal bookies who most assuredly will not be regulated by the Nevada Gaming Control Board.  The only reason the Az St scandal broke was because red-flags went off inside a Vegas casino, and the Control Board was notified.  


by Anonymous Hero on Wed Mar 08, 2006 at 12:04:04 PM EST
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Fixing Games (none / 0)

One of my pet peeves.  Here follows a rant.

Why should it be illegal (criminal) for a player to fix a game?  

In an amateur game, the only one hurt is the gambler, to whom the player has not made any representation of honesty.  If enough games were thrown, gambling would go out of sports,a good thing.

A pro team should have a civil, not criminal, claim against a player under contract.  So let the team sue the player to recover damages.

I don't want to waste court time on such issues.  Caveat emptor!


by Anonymous Hero on Wed Mar 08, 2006 at 01:09:11 PM EST
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What? (none / 0)

Taking gambling out of sports and guess what, bye bye ratings, TV money, endorsement money and everything else that has made sports visible to the public.  

Gambling is what allows sports to thrive, to not admit that is to deny the reality of life.  I suppose you could argue that the alternative would still be better but I would bet you the owners and players who's salaries and profit margins would crumble might have a problem with it.  


by Anonymous Hero on Wed Mar 08, 2006 at 01:32:02 PM EST
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original paper; thoughts (none / 0)

The article doesn't say much about the actual evidence -- here's the paper from Wolfers' website: http://bpp.wharton.upenn.edu/jwolfers/Papers/PointShaving.pdf.

I'm not sure why commenters are vigorously defending gambling in general, as neither the paper nor the article suggests we should abolish gambling.

Instead, if you bet on college bball games, it's very much in your interest to abolish point shaving, and very much in your interest to know if point shaving is still happening (unless, of course, you're the bookie setting it all up, in which case, you don't want any change).  For the same reason you don't want someone with insider information playing the same stocks you do, you don't want point shaving to happen.  The paper takes no stance on policy... Wolfers just points out that, based on how heavy favorites perform against the spread as compared to other teams, there's a statistically significant chance that something fishy's going on.


by Ken W on Wed Mar 08, 2006 at 02:08:35 PM EST
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The line moves (none / 0)

I'd be curious about the difference between the opening line and the closing line in the 5 percent of games in question. We might not be seeing evidence of anything other than bookmakers making money and bettors losing money.

by hoopinion on Wed Mar 08, 2006 at 04:45:06 PM EST
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