Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Some people suggest betting against a team that played a big game last time out, figuring it will have a letdown in its next game. One
example of that is a team that played the defending champion last week might underperform this week. The chapter presents results of games
played immediately after taking on the defending champion. Thus the whole purpose of this chapter is to present data. The Gold Sheet’s historical records of scores and lines appear to be accurate and
are readily available on the Internet, so I have used them. For each game of interest, the home team is identified, the spreads is given, and the
results is listed. Proper statistical analysis involves testing a hypothesis with data not used in the creation of the hypothesis. An easy way to do that is to test
with data gener

CURRENT SUMMARY:
Some people suggest betting against a team that played a big game last time out, figuring it will have a letdown in its next game. One
example of that is a team that played the defending champion last week might underperform this week.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to work through this step by step. So, the user has provided a new excerpt from a sports betting document and is asking for an improved knowledge card based on this excerpt. They’v


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
This book was first published in 2001. Games played prior to the 2001 season were played prior to publication of this book. Games played
during and after the 2001 season were played after publication of this book. So we can test the wisdom of betting against the defending champ
and betting against its past and upcoming opponents by using NFL games played in the 2001 and more recent seasons. Games of interest
played during the 1985-2000 seasons also are listed. Some games are listed from the viewpoint of both teams, because sometimes one team fills two roles. For example, the champion’s next
opponent might currently be facing the team that battled the champion last week. Though this chapter looks at only what has happened when you bet against the Super Bowl champs, the conclusions should ap

CURRENT SUMMARY:
This book was first published in 2001. Games played prior to the 2001 season were played prior to publication of this book.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the provided excerpt. The user has given me a specific task to extract the most important informat


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Though this chapter looks at only what has happened when you bet against the Super Bowl champs, the conclusions should apply to betting

against other teams that share the two attributes of being possibly overrated due to strong past performance and facing a highly motivated
opponent. The rest of this chapter contains the results of games involving Super Bowl Champion in the first six weeks of the following season, starting
with 1985.

1985: San Francisco
Bet watch for week 1:
Minnesota +11 vs. San Francisco

CURRENT SUMMARY:
Though this chapter looks at only what has happened when you bet against the Super Bowl champs, the conclusions should apply to betting

against other teams that share the two attributes of being possibly overrated due to strong past performance and facing a highly motivated
opponent. The rest of this chapter contains the results of games involving Super Bowl Champion in the first six weeks of the

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the provided excerpt. The user has given me a specific task to extract the most important informat


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Summaries

Win-Loss Summary
1985-2000
This book was first published in 2001. This chapter was in that first publication, though of course with data only through the 2000 season. For
1985-2000, the sixteen seasons prior to publication, bets against the defending champion each week for the first six weeks of each season went
52-36-1. That’s 89 games; there also were seven byes. In those same 89 games, overs went 47-41-1. Bets against the champ’s next-week opponents went 42-39-4. There was no previous opponent until week 2 of each season. Bets against the teams that played the defending champ last week went 33-34-1. Starting 2001
In the NFL seasons after the first issue of this book was published, bets against the defending Super Bowl champ every week for the first six
weeks yielded a W-L-P

CURRENT SUMMARY:
Summaries

Win-Loss Summary
1985-2000
This book was first published in 2001. This chapter was in that first publication, though of course with data only through the 2000 season.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the provided excerpt. The user has given me a specific task to extract the most important informat


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Bets against the defending champ’s previous opponent went 29-12-1. Analysis
Combining the three categories of bets (against the defending champ, against the defending champ’s next opponent, and against the
defending champ’s last-week opponent) have gone a combined 86-57-3 since this book was first published. Table 4 (in chapter 7) shows that a
win-loss record this good is a 1:100 rare event. Of course there is no assurance that these three bets will continue to win in the future.

CURRENT SUMMARY:
Bets against the defending champ’s previous opponent went 29-12-1. Analysis
Combining the three categories of bets (against the defending champ, against the defending champ’s next opponent, and against the
defending champ’s last-week opponent) have gone a combined 86-57-3 since this book was first published.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the provided excerpt. The user has given me a specific task to extract the most important informat


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
This appendix lists the probabilities of particular numbers of events for the Poisson distribution, and has been created with Excel. For an
explanation of how to use this appendix, see chapter 9, Poisson Props. The numbers in each column may not add up to exactly 100 due to rounding. The information in this appendix is also available in a plug-in-the-numbers format on the Links page of BJ21.com; click on Sports: Prop
Tools.

CURRENT SUMMARY:
This appendix lists the probabilities of particular numbers of events for the Poisson distribution, and has been created with Excel. For an
explanation of how to use this appendix, see chapter 9, Poisson Props.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to figure out how to approach this. The user is asking me to help refine a knowledge card for a sports betting document based on a specific excerpt. They've provided the excerpt, t


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
This appendix lists the cumulative probabilities of particular numbers of events for the Poisson distribution, and has been created with Excel. For an explanation of how to use this appendix, see chapter 9, Poisson Props. The numbers in each row include the probabilities associated with that row. For example, the row labeled “2” is probability of zero plus
probability of one plus probability of two. The information in this appendix is also available in a plug-in-the-numbers format on the Links page of BJ21.com; click on Sports: Prop
Tools.

CURRENT SUMMARY:
This appendix lists the cumulative probabilities of particular numbers of events for the Poisson distribution, and has been created with Excel. For an explanation of how to use this appendix, see chapter 9, Poisson Props.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the provided excerpt. The user has given me a specific task to extract the most important informat


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
For an explanation of how to use this appendix, see chapter 9, Poisson Props. Appendix C applies to the situation of comparing the numbers of occurrences for each of two different variables. The tables call them
“Variable A” and “Variable B.” It does not matter whether A or B occurs first in stime; either variable could be Variable A. Each row is a particular number of occurrences of Variable A. Each column header is a particular number of occurrences of Variable B. Under each column header are three columns of numbers. These
numbers are percentages, and sum to 100 except for rounding. The first number is the probability that there will be more of Variable A. The
second number is the probability that there will be more of Variable B. The third number is the probability of a tie. Table 7 is

CURRENT SUMMARY:
For an explanation of how to use this appendix, see chapter 9, Poisson Props. Appendix C applies to the situation of comparing the numbers of occurrences for each of two different variables.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this problem step by step. I'm trying to help someone refine a knowledge card for a sports betting document based on the provided excerpt. The user has given me a specific task t


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
86ed
To be 86ed out of a sportsbook is to be kicked out with a threat of arrest for trespassing if you return. Also see bar. Action
Action means bets, as in “the Cowboys are getting lots of action.” Having action means having a bet. Action has a special meaning for baseball bets: It means the bet counts even if there is a change in starting pitchers. If there is a pitcher
change accompanied by an odds change, the action bettor will receive the new odds. The default is that the listed pitchers must start; to have
action no matter who pitches, you must specify action when you make your bet. Advantage player
An advantage player is a bettor who is willing to make a bet only if the bet is perceived as yielding a positive EV. Against the spread
There are two common ways of betting sides: the mon

CURRENT SUMMARY:
86ed
To be 86ed out of a sportsbook is to be kicked out with a threat of arrest for trespassing if you return. Also see bar.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's see what the user is asking for here. They want me to refine a knowledge card for a sports betting document, but the latest excerpt is about something called "86ed." Hmm, I've never hea


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
To bet against the spread is to make a wager that will be decided by adding points to one team or the other after the game is played. Air move
When a sportsbook changes the line on a game in response to other books’ changing the line, that line change is described as an air move. The opposite of an air move is changing the line in response to bets received. Angle
An angle is a decision rule for making bets. Unfortunately, most published angles are the result of data mining, and fail to predict results of
future games. Arbitrage
To arbitrage is to make a combination of bets such that if one bet loses another wins. There is an implication of having an edge, at no or low
risk. Arbitrage can also be used as a noun. Hedge has a similar meaning, but does not carry the implication of having an ed

CURRENT SUMMARY:
To bet against the spread is to make a wager that will be decided by adding points to one team or the other after the game is played. Air move
When a sportsbook changes the line on a game in response to other books’ changing the line, that line change is described as an air move.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this query. The user is asking me to refine a knowledge card for a sports betting document based on the provided excerpt. First, I need to understand what the user is specificall


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Also see 86ed. Bases
Bases means baseball. An alternative to saying you are betting on baseball games is to say you are betting bases. Baskets
Baskets means basketball. An alternative to saying you are betting on basketball games is to say you are betting baskets. An alternate
expression is hoops. Beard
A beard is a person who makes sports bets for someone else; that someone else is usually a skillful handicapper. Betting for someone else
is legal in Nevada if no compensation is involved. Betting exchange
A betting exchange is a form of betting available on the Internet. You and another person can bet on anything you wish at whatever odds you
agree upon. The winner will pay a commission to the Internet sportsbook. Bettor
A bettor is an individual who makes bets. This text assumes that bett

CURRENT SUMMARY:
Also see 86ed. Bases
Bases means baseball.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's see. The user provided a query where they want to refine a knowledge card for a sports betting document. The latest excerpt talks about "bases" and "beard." I need to extract the most i


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Binomial, binomial distribution
Binomial refers to a specific mathematical distribution. When a variable takes on either of two states, the number of occurrences of each state
follows a binomial distribution. Sports wagers are won, lost, or pushed. If you ignore pushes, the outcome of a bet is either won or lost, and the
binomial applies. Total wins and total losses follow a binomial distribution. This is important because binomial distributions have important properties that sports bettors can make use of. Most of this book involves
application of the binomial distribution to sports bets. Board
A board is the list of bets available in a sportsbook. In the old days, all books had actual boards on which clerks would write the latest odds. Nowadays most such boards have been replaced by elec

CURRENT SUMMARY:
Binomial, binomial distribution
Binomial refers to a specific mathematical distribution. When a variable takes on either of two states, the number of occurrences of each state
follows a binomial distribution.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help the user refine a knowledge card for a sports betting document. The user provided an excerpt about binomial distribution and sports betting. I need to extract the most i


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
In the old days, all books had actual boards on which clerks would write the latest odds. Nowadays most such boards have been replaced by electronic displays that are updated by computer, but they are still called “boards.”

Bonus hustler
To offshore sportsbooks, a bonus hustler is someone who has opened an account for the express purpose of obtaining bonuses, and who
does not intend to gamble. Book, bookmaker
A book or bookmaker is a person or company that accepts bets against the lines created by linesmakers. Throughout this book, the
bookmaker will be assumed to be legal sportsbooks, primarily in Nevada. Bookmaking is not the same as pari-mutuel: When you make a bet with a bookmaker, the details of your bet are locked in. For example, if
you bet $500 with a bookmaker on a team at 4:1 od

CURRENT SUMMARY:
In the old days, all books had actual boards on which clerks would write the latest odds. Nowadays most such boards have been replaced by electronic displays that are updated by computer, but they are still called “boards.”

Bonus hustler
To offshore sportsbooks, a bonus hustler is someone who has opened an account for the express purpose of obtaining bonuses, and who
does not intend to gamble.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, I'm trying to understand this task. The user wants me to refine a knowledge card for a sports betting document based on an excerpt. They provided a previous version and want an improved one in a


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Book is also used as a verb. Bookie
The dictionary says bookie is the same thing as bookmaker, but Nevada’s legal sportsbooks don’t call themselves bookies. Bookie carries
the connotation of illegality. Buck
To a sports bettor, a buck is a bet size. For a bet on a dog, a buck is $100. For a bet on a favorite, a buck is whatever amount of money must
be risked to win $100. Chalk
To bet chalk is to bet the favorite. Cherrypick
To cherrypick is to bet only those games on which you think you have an edge. Circled
When a game is circled, the maximum bet on that game is lower than normal. The circling generally is due to uncertainty of some sort,
perhaps the weather or an injury to a key player. Correlated, Correlation
Correlation is the degree to which the results of two bets are related. Zero c

CURRENT SUMMARY:
Book is also used as a verb. Bookie
The dictionary says bookie is the same thing as bookmaker, but Nevada’s legal sportsbooks don’t call themselves bookies.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to help the user refine a knowledge card for a sports betting document based on the latest excerpt they provided. The user has given me access to a curated knowledge base, so I nee


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Correlated is
the adjective form, and correlation is a noun. An example of two bets that are correlated is the Giants to lead at the half and the Giants to win the
game. Sportsbooks do not like to write correlated parlays. Covariance
Covariance is a mathematical measure of correlation. Another mathematical measure of correlation is the coefficient of correlation. Cover
To cover is to beat the spread. For example, if Detroit is favored by 7 and wins the game by more than 7, Detroit is said to have “covered.” If
Detroit loses that game or wins by less than 7, it failed to cover. If the underdog wins, or loses the game but by less than the spread, the dog is said to have covered. CTR
CTR is the abbreviation for Currency Transaction Report. This is a form the US government requires be filled o

CURRENT SUMMARY:
Correlated is
the adjective form, and correlation is a noun. An example of two bets that are correlated is the Giants to lead at the half and the Giants to win the
game.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help the user refine a knowledge card for a sports betting document based on the latest excerpt they provided. Let me start by carefully reading through the excerpt to unders


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
CTR
CTR is the abbreviation for Currency Transaction Report. This is a form the US government requires be filled out whenever a financial
institution (which includes casinos and sportsbooks) has a transaction (or a series of transactions with one individual within a 24-hour period of
time) involving over $10,000 in cash. Data mining
Data mining is derogatory. It means sorting through a huge volume of data, extracting decision rules that seem to favor one team over
another, but without regard to whether or not there is any cause-and-effect relationship. Data mining is the sports-betting equivalent of sitting a
huge number of monkeys down at keyboards, and then reporting on the monkeys who happened to type actual words. Dime
A dime is a bet to win $1000. Dime line
A dime line means the vig i

CURRENT SUMMARY:
CTR
CTR is the abbreviation for Currency Transaction Report. This is a form the US government requires be filled out whenever a financial
institution (which includes casinos and sportsbooks) has a transaction (or a series of transactions with one individual within a 24-hour period of
time) involving over $10,000 in cash.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help the user refine a knowledge card for a sports betting document based on the latest excerpt they provided. Let me start by carefully reading through the excerpt to unders


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you bet both teams on a dime line, you would pay a total of ten cents of vig. The most common dime line has each team at -105. Another
example of a dime line is when one team is -140 while its opponent is +130. Dog
Dog is short for “underdog.” If the better team wins the game, the dog is the team that loses. The opposite of the dog is the favorite. Dollar
A dollar is a bet to win $100. Early line
The early line is the first line posted for a game. Edge
Having an edge means having the best of it. If you make only bets on which you have an edge, you will win and you will lose but in the long
haul your winnings will overwhelm your losses. EV
EV is the abbreviation for expected value, the mathematical description of your edge. Advantage players discuss potential bets in terms of
how much th

CURRENT SUMMARY:
If you bet both teams on a dime line, you would pay a total of ten cents of vig. The most common dime line has each team at -105.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by reading through the excerpt carefully to understand the key poin


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
That average win is expected value to a mathematician,
but bettors prefer the abbreviation EV. EV is also used to mean even money. If a line is quoted as Chicago -3 EV, then you can bet $100 to try to win $100 on Chicago -3. Even money
Even money means you risk a dollar to win a dollar. Even money is also expressed as EV or as PK. It could be, but is not, expressed as -100
or +100. Exotic
Exotic bets are the same thing as prop bets. Fade
To fade a bet is to accept it, as in the sportsbook fades your action. Fan
A fan is somebody who bets on a team because he likes the team. To a fan, the spread is an unimportant detail. Favorite
The favorite is the team that is more likely to win. If there are a large number of contestants, such as in a golf tournament, the top few
contestants can all be r

CURRENT SUMMARY:
That average win is expected value to a mathematician,
but bettors prefer the abbreviation EV. EV is also used to mean even money.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key p


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
FG
FG is the abbreviation for field goal. Field
Betting on golf tournaments and other sports events that have a large number of entrants often allows for a bet on the field. The field is the
group of all the entrants not listed with their own odds. The field can contain a large number of entrants, but typically each entrant has only a tiny
chance of actually winning the event. If an entrant had a good chance of winning, he or she would not be lumped into the field. Final margin
The final margin is a term used in this book to mean the difference between the points scored by the favorite and the points scored by the
dog. If the dog won, the final margin is negative. The final margin can be compared to the line to see which team won for betting purposes. Final score
The final score of the gam

CURRENT SUMMARY:
FG
FG is the abbreviation for field goal. Field
Betting on golf tournaments and other sports events that have a large number of entrants often allows for a bet on the field.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key p


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Final total
The final total is a term used in this book to mean the sum of the point totals in a game. If San Francisco wins 35-14, then the final total is 49. In this book, the final total is not the same thing as the total. Foots
Foots means football. An alternative to saying you are betting on football games is to say you are betting foots. For 1
When the odds use the word for, the number on the left includes the return of your own money. For example, odds of 3 for 1 mean if you
wager $1 and win, the amount you receive is $3, but only $2 of that is winnings and the other $1 is the return of your bet. For 1 is not the same
thing as to 1, which see. Front running
Front running is watching betting lines via computer, and betting in the direction of line moves at a sportsbook that still sho

CURRENT SUMMARY:
Final total
The final total is a term used in this book to mean the sum of the point totals in a game. If San Francisco wins 35-14, then the final total is 49.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key p


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Futures
Futures are bets that will be decided by multiple contests, or by a contest that is more than about a week away. An example of a futures bet is
a wager on whether the Yankees will win more than 92 games in the upcoming season. Good bet
To an advantage player, a good bet is a bet that offers a positive EV. Handicap
To handicap is to assign a probability to the likelihood of winning a contest or series of contests. A person who handicaps is a handicapper. Handle
Handle is a word used by bookmakers to describe the total amount of money wagered. Handle usually refers to total bets over multiple
games, whereas action usually refers to total bets on one game. Hang
When managers of sportsbooks speak of hanging a line, they mean posting it for all to see and bet into. Hedge
To hedge is to

CURRENT SUMMARY:
Futures
Futures are bets that will be decided by multiple contests, or by a contest that is more than about a week away. An example of a futures bet is
a wager on whether the Yankees will win more than 92 games in the upcoming season.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I need to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key points b


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Hedge
To hedge is to make a combination of bets such that if one bet loses another wins. Hedging is usually done for defensive purposes, such as
betting to lock in a profit after winning the first eleven games on a twelve-team parlay. Hedge can be used as a noun or a verb. Hedge does not
carry the implication of having an edge. Arbitrage has a similar meaning, but with an implication of having an edge. Hook
When a line on a football or basketball game includes a half point, the half point is called a hook. Hoops
Hoops means basketball. An alternative to saying you are betting on basketball games is to say you are betting hoops. An alternate
expression is baskets. House edge
The house edge is another name for the vig. Juice
Juice is another word for vig. Laying
You are said to be laying odd

CURRENT SUMMARY:
Hedge
To hedge is to make a combination of bets such that if one bet loses another wins. Hedging is usually done for defensive purposes, such as
betting to lock in a profit after winning the first eleven games on a twelve-team parlay.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
You are said
to be laying points if the spread takes points away from your team. If you are laying points or laying odds, you are betting on the favorite. The opposite of laying is taking. Leech
A leech is someone who watches a computer for line moves, and when he sees one he quickly bets the appropriate team at an offshore
sportsbook that has not yet moved the line. That activity is called front running. Line
The line is the spread and terms of a bet. If the terms are standard, e.g. -110, then the line is the spread. See spread and see terms. Linesmaker
A linesmaker is a person who creates lines and totals for bookmakers. Maverick line
When a sportsbook creates its own line on a game and that line is different from the line carried by other sportsbooks, that independent line is
called a m

CURRENT SUMMARY:
You are said
to be laying points if the spread takes points away from your team. If you are laying points or laying odds, you are betting on the favorite.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Middle
To have a middle is to have bets on competing teams and for there to be at least one possible outcome that results in winning both bets. Middle applies to bets on totals as well as bets on sides. For example, if the Cowboys are playing the Giants and you have bets on both Cowboys -4.5 and Giants +5.5, you have a middle. If the
game finishes with the Cowboys winning by exactly five points, you would win both your bets. A combination of bets that gives the possibility of a win and a push is called a side. The combination of Cowboys -4 and Giants +6 could be described as a middle and two sides. MinEdge
MinEdge is a term devised for this book. MinEdge is the minimum edge in percent that you think you have when you make a sports bet. See
chapter 2, “Money Management.”
MinWin
MinWin is a

CURRENT SUMMARY:
Middle
To have a middle is to have bets on competing teams and for there to be at least one possible outcome that results in winning both bets. Middle applies to bets on totals as well as bets on sides.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
MinWin is the minimum amount of money (in dollars or any other currency) that you want to win when
you make a sports bet. See chapter 2, “Money Management.”
MLB
MLB is the abbreviation for major-league baseball. Money line

When you bet the money line, the winner of the game is the winner of the bet. Betting the money line is one of two common ways of betting
on a side to win; the other common method of betting a side is against the spread. NBA
NBA is the abbreviation for National Basketball Association. NFL
NFL is the abbreviation for National Football League. NHL
NHL is the abbreviation for National Hockey League. Nickel
A nickel is a bet to win $500. A big nickel is a bet to win $5000. Nickel line
If you bet both teams on a nickel line, you would pay a total of five cents of vig. An exa

CURRENT SUMMARY:
MinWin is the minimum amount of money (in dollars or any other currency) that you want to win when
you make a sports bet. See chapter 2, “Money Management.”
MLB
MLB is the abbreviation for major-league baseball.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
O
In the total for a baseball or ice hockey game, sometimes there is a little o attached, as in 4.5o. When you see that little o you know the over is
a slight favorite. Instead of both over and under being -110, the over is -120 and the under is even money. Off
If a game is off, the sportsbook is no longer writing bets on it. Perhaps the game has already started, or perhaps there is major uncertainty as
to the weather conditions or an injury to a key player. Off the board
To make parlay or teaser bets on games listed on the board is called betting off the board. Sometimes you have two ways to bet the same
combination of teams: off the board and on parlay cards. Before betting one of them, check to see if the other offers better odds or a better spread. On the float
Online sportsbooks that

CURRENT SUMMARY:
O
In the total for a baseball or ice hockey game, sometimes there is a little o attached, as in 4.5o. When you see that little o you know the over is
a slight favorite.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Opening line
The opening line is the earliest line posted for a given sports event. Originator
When a syndicate bets so much money on one game that the line moves, the originator is the first person to bet that game for that syndicate. Over
To bet the over is to bet that the final total will exceed the total posted for betting purposes. Pari-mutuel
In a pari-mutuel pool, the odds are set by the bettors. The track takes a fixed percentage of wagers off the top, and distributes the remainder
to winning ticket holders. If you make a huge bet, your bet will greatly depress the odds on that betting interest. Even a small bet might depress
the odds slightly. Parlay
A parlay is a bet involving two or more events. You can also use the word as a verb; to parlay is to use the proceeds from one bet a

CURRENT SUMMARY:
Opening line
The opening line is the earliest line posted for a given sports event. Originator
When a syndicate bets so much money on one game that the line moves, the originator is the first person to bet that game for that syndicate.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
One loser and the parlay is lost. A push on one game generally causes your parlay to convert
to a parlay with one fewer game; for example a three-team parlay with two wins and a push would be paid as a two-team parlay. Parlay card
A parlay card is a set of sides, totals, and prop bets printed on a special card. The numbers on the parlay card apply only to bets on the card,
and might be different from bets listed on the board. Typically you must select at least three items if you want to make a bet on a parlay card. Pick
A pick is a bet recommended by a handicapper. Pick’em
Pick ’em has two meanings. It can mean the same thing as even money. It also can mean the spread is zero, as in “Baltimore is pick ’em
against the Giants this weekend.”
PK
PK is an abbreviation for pick ’em. Player
If an

CURRENT SUMMARY:
One loser and the parlay is lost. A push on one game generally causes your parlay to convert
to a parlay with one fewer game; for example a three-team parlay with two wins and a push would be paid as a two-team parlay.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Being called a player is not a compliment, but
it’s not as derogatory as being called a sucker. Pleaser
A pleaser is the same thing as a reverse teaser. Points, point spread
Points and point spread are alternate terms for spread. Poisson, Poisson distribution
Poisson refers to a specific mathematical distribution, and is always capitalized because it is named after a person. The Poisson distribution
is what the binomial distribution becomes when one of the two outcomes is rare. Power ratings
Power ratings are numbers that handicappers assign to teams to estimate how likely one team is to beat the other or by how many points. Prop bet
When major sporting events come along, some linesmakers let their imaginations run wild as they offer an interesting menu of bets, such as
which player will s

CURRENT SUMMARY:
Being called a player is not a compliment, but
it’s not as derogatory as being called a sucker. Pleaser
A pleaser is the same thing as a reverse teaser.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Undoubtedly, prop is derived from proposition. Prop sheet
A prop sheet is a piece of paper listing the various props offered by a sportsbook. Public
The public means unsophisticated bettors. Their bets are called public money. The public includes fans and squares and people who make
a bet just to make a game more exciting. Puck line
The ice hockey version of betting against the spread is the puck line. On games in which one team is a big favorite, the puck line typically
adds 1.5 goals to one team or subtracts 1.5 goals from the other team. Punter
A punter is a bettor, specifically a bettor who takes on sportsbooks or racebooks. The term can be but is rarely used to refer to participants in
casino games. Push
A push is a tie against the spread. If you bet Tennessee +7 and Tennessee loses t

CURRENT SUMMARY:
Undoubtedly, prop is derived from proposition. Prop sheet
A prop sheet is a piece of paper listing the various props offered by a sportsbook.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
On some parlay cards, pushes lose. Reverse teaser
A reverse teaser is a parlay in which each team gives up points compared to the normal spread. For a reverse teaser to win, favorites must
win extra big and dogs might have to win outright. A reverse teaser is sometimes called a pleaser. ROI
ROI is the abbreviation for return on investment. Rounding error
When numbers are rounded off, the total of the rounded numbers sometimes differs from the total of the unrounded numbers. For example,
33.3, 33.3, and 33.4 total 100, but rounding them off yields 33, 33, and 33, which does not total 100. Run line
The baseball version of betting against the spread is the run line. On games in which one team is a big favorite, the run line typically adds 1.5
runs to one team or subtracts 1.5 runs from the ot

CURRENT SUMMARY:
On some parlay cards, pushes lose. Reverse teaser
A reverse teaser is a parlay in which each team gives up points compared to the normal spread.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
One use is to bet both sides on the money line in such a way as to guarantee a profit. For example, if New
York is playing Chicago and you bet New York -140 and Chicago +155, you have a 15-cent scalp. Another use of scalp is to describe what a bookie might do if he thinks a line is going to move. Suppose a bookie takes a bet on Dallas -6
from a sharp, and predicts that other bettors soon will be calling to also place bets on Dallas. If the bookie immediately bets Dallas -6 with other
bookies and simultaneously changes the line at which he accepts bets to Dallas -7, he is said to be scalping. Yet another use of scalp is to describe a form of fraud. If one person places a bet on behalf of a second person, and the bet is made at -6.5
but is reported to the second person as -7, the first perso

CURRENT SUMMARY:
One use is to bet both sides on the money line in such a way as to guarantee a profit. For example, if New
York is playing Chicago and you bet New York -140 and Chicago +155, you have a 15-cent scalp.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Sharp can also be used as an adjective. If someone calls you a sharp bettor, smile;
you have received a compliment. (You don’t have to smile if you are being 86ed.)

Side
To bet a side is to bet on one team against the spread. Another meaning of side is to have bets on both opposing teams such that there is at least one score that will give you a win on one bet and
a push on the other. For example, if the Cowboys are playing the Giants and you have bets on both Cowboys -4 and Giants +4.5, you have a side. If the game
finished with the Cowboys winning by exactly four points, you win the Giants bet and push on the Cowboys. With any other result, you win one
bet and lose the other, and are out the vig on one bet. I have never seen a word used to describe a bet combination with two ways to get

CURRENT SUMMARY:
Sharp can also be used as an adjective. If someone calls you a sharp bettor, smile;
you have received a compliment.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If
nobody else has coined a word for it, I’ll dub it double-sided. A bet combination that contains a way to win both bets, such as Cowboys -4.5 and Giants +5.5, is described as a middle. Smart money
Smart money is money wagered by sharps. Soft
When a line is called soft, the implication is that not many sharp bettors have looked at it. Sharp bettors making big bets tend to move lines to
the point where it is difficult for other bettors to make bets with an edge. You are more likely to find good bets among soft lines. Sportsbook, Sports Book
Sportsbook is another word for book. Split the action
If a line splits the action, approximately the same number of dollars is wagered on either side. Spread
A spread is a number set by a sportsbook to allow betting at 10:11 on each of two teams. The sp

CURRENT SUMMARY:
If
nobody else has coined a word for it, I’ll dub it double-sided. A bet combination that contains a way to win both bets, such as Cowboys -4.5 and Giants +5.5, is described as a middle.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The spread is also called the line or the points. The spread is the number of points that must be subtracted from the final score of one team (or added to the final score of the other team) to
decide the bet. For example, if Dallas is a 3-point favorite over Green Bay, then the “-3” would be called the spread or the line on that game. You
could also express the spread as “Dallas -3” or “Green Bay +3.”
Square
A square is a sucker who has read the sports section of the local newspaper. The implication is of being informed, but using the same
information in the same way as everybody else. Straight up
Since bets against the spread are common, you need two ways to describe which team won a game. You need to distinguish between which
team actually won the game and which team won against the spre

CURRENT SUMMARY:
The spread is also called the line or the points. The spread is the number of points that must be subtracted from the final score of one team (or added to the final score of the other team) to
decide the bet.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
A money-line bet is decided by which team wins straight up. Also see against the spread. Sucker
A sucker is a bettor who will make bad-EV bets without realizing how bad the bets are. Syndicate
A syndicate is a group of people making a joint effort to win money betting sports. Taking
You are said to be taking if you are backing the dog. Taking odds means the amount you are risking is less than the amount you stand to win
if the game goes your way. Taking points means you are receiving points on the spread. The opposite of taking is laying. TD
TD is an abbreviation for touchdown. Team
Of course a team is a group of athletes competing against another team. There is another usage of team in sports betting: a team can mean a side or a total or a selection on a parlay card. For example, a four-t

CURRENT SUMMARY:
A money-line bet is decided by which team wins straight up. Also see against the spread.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
For example, you can make a four-team parlay out of two
sides and two totals. Teaser
A teaser is a parlay in which each team is given extra points from the normal spread. Teasers can be bet off the board, or on parlay cards
designed specifically for teaser bets. Ten cents
The difference between prices is sometimes expressed as if the units were pennies. A common difference is 10, which is called ten cents. An
example of a ten-cent line is one team at -120 and the opponent at +110. If the line were to change, with the -120 team moving to -130, the
amount of the change would be referred to as ten cents. Terms
The expression terms is used to describe the relationship between how much you bet and how much you win. The terms and the spread
comprise the line. If you must bet more than the amount

CURRENT SUMMARY:
For example, you can make a four-team parlay out of two
sides and two totals. Teaser
A teaser is a parlay in which each team is given extra points from the normal spread.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you must bet more than the amount you are trying to win, the terms are expressed as a negative number and represent how many dollars
you will have to risk in order to win $100. For example, terms of -160 mean if you buy a ticket for $160 and your team wins, you will be able to
cash your winning ticket for $260. If you stand to win more than the amount of your bet, the terms are expressed as a positive number and represent how many dollars you will
win on a $100 bet. For example, terms of +240 mean if you buy a ticket for $100 and your team wins, you will be able to cash your winning ticket
for $340. The winning ticket prices reflect both the amount of your win and the amount of your bet, which is returned to you after you win. Theoretical hold percentage
Theoretical hold percentage is a

CURRENT SUMMARY:
If you must bet more than the amount you are trying to win, the terms are expressed as a negative number and represent how many dollars
you will have to risk in order to win $100. For example, terms of -160 mean if you buy a ticket for $160 and your team wins, you will be able to
cash your winning ticket for $260.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key poin


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Hold percentage means the ratio of the amount of money
won by the sportsbook to the handle. Adding theoretical changes the meaning to the percentage of the handle that the sportsbook will win if the
spread never changes and each team gets equal action. When the terms are -110, the theoretical hold percentage is 4.55 percent. To 1
When the odds use the word to, the number on the left is the amount you will win if your bet wins. For example, odds of 3 to 1 mean if you
wager $1 and win, the amount you receive is $4, of which $3 is winnings and the other $1 is the return of your bet. To 1 is not the same thing as
for 1, which see. Total
The total is a number set by a sportsbook for total points to be scored by both teams during a game. You can bet that the final total will
exceed the total (ca

CURRENT SUMMARY:
Hold percentage means the ratio of the amount of money
won by the sportsbook to the handle. Adding theoretical changes the meaning to the percentage of the handle that the sportsbook will win if the
spread never changes and each team gets equal action.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key poin


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Tout
A tout is someone who sells picks. The connotation is of someone who has no ability to pick winners but sells that ability anyway. Twenty-cent line
A twenty-cent line means if you bet both teams, you would pay a total of twenty cents of vig. The most common twenty-cent line is each team
being -110. U
In the total for a baseball or ice hockey game, sometimes there is a little u attached, as in 9.5u. When you see that little u you know the under
is a slight favorite. Instead of both over and under being -110, the under is -120 and the over is even money. Under
To bet the under is to bet that the final total will fall short of the total. Vig or vigorish
Sportsbooks generally don’t give suckers a positive-expectation bet, or even a break-even bet. The vig or vigorish is the sportsbook’s b

CURRENT SUMMARY:
Tout
A tout is someone who sells picks. The connotation is of someone who has no ability to pick winners but sells that ability anyway.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to help refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand the key poin


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Banker, Lem and Frederick C. Lem Banker’s Book on Sports Betting. New York: E. Dutton, 1986. Out of print. Doc’s Sports Journal. Sauk City, WI: Doc’s Enterprises, 2000. Fields, Trace. College Basketball Handicapping: A Professional Approach. Las Vegas: Las Vegas Sports Consultants, 1996. Fields, Trace. College Football Handicapping: A Professional Approach. Las Vegas: Las Vegas Sports Consultants, 1996. Gordon, Dan. Beat the Sports Books. Oakland: RGE Publishing, 2001. Haywood, Bill. BeatWebCasinos.com. Oakland: RGE Publishing, 2000. Jeffries, James. The Book on Bookies. Boulder: Paladin Press, 2000. Kelly, John L. Jr. “A New Interpretation of Information Rate.” Bell System Technical Journal 35:4 (July 1956): 917-926. Konik, Michael. Telling Lies and Getting Paid. Las Vegas: Huntington Pre

CURRENT SUMMARY:
Banker, Lem and Frederick C. Lem Banker’s Book on Sports Betting.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Las Vegas: Huntington Press, 1999. Lacey, Nelson J. “Testing Weak-Form Market Efficiency in the NFL Betting Markets” in 7th International Conference on Gambling & Risk
Taking, Reno: Bureau of Business and Economic Research, 1988, pp 101-123. Manteris, Art. Super Bookie. Chicago: Contemporary Books, 1991. Out of print. McCune, Bob. Education of a Sports Bettor. Las Vegas: McCune Sports Investments, 1989. Out of print. McCune, Bob. Insights into Sports Betting: Opus IV. Las Vegas: no publisher listed, 1993. Latest edition 1999. Millman, Chad. New York: Public Affairs, 2001. How Professional Gamblers Beat the Pro Football Pointspread. Readyville, TN: Flying M Group, 1997. Nathan, Barbara. Money $ in the Bank: 25 Winning Systems for Betting Pro Football. New York: no publisher listed, 1987. Ou

CURRENT SUMMARY:
Las Vegas: Huntington Press, 1999. Lacey, Nelson J.

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- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this step by step. The user has provided a detailed thought process where they are working on refining a knowledge card for a sports betting document. The latest excerpt they've


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Out of print. O’Neill, Kevin. Football Betting: Strategies for the Smart Player. Atlanta: Kevin O’Neill ,1996. Reizner, Sonny. Sports Betting with Sonny Reizner. Las Vegas: GBC Press, 1983. Out of print. Root, Wayne Alan. Betting to Win on Sports. New York: Bantam, 1989. Out of print. Roxborough, Roxy and Mike Rhoden. Sports Book Management. Las Vegas: Las Vegas Sports Consultants, 1998. Strine, Gerald and Neil D. Covering the Spread. New York: Random House, 1978. Out of print. Sturgeon, Kelso. Guide to Sports Betting. New York: Harper & Row, 1974. Out of print. Sturgeon, Kelso and Jim Feist. The Complete Guide to Football Betting. Las Vegas: National Sports Services, 1997. Sugar, Bert Randolph. Caesars Palace Sports Book of Betting. New York: St. Martin’s Press, 1992. Weighing the Odds in

CURRENT SUMMARY:
Out of print. O’Neill, Kevin.

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Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this query. The user is asking for help refining a knowledge card for a sports betting document. They've provided an excerpt, and their current summary is just "Out of print. O’N


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
This book is published by Pi Yee Press. We welcome comments and suggestions. If you have found an error in this book, please tell us
about it so that we can correct it. Our street address is 4855 W. Nevso Drive, Las Vegas, NV 89103-3787. Our phone number is 702-579-7711. Our email address is
info@BJ21.com. Pi Yee Press publishes books about beating casinos, software for analyzing blackjack, and a monthly newsletter: Current Blackjack News. The best way to order something from us is through our website, BJ21.com.

CURRENT SUMMARY:
This book is published by Pi Yee Press. We welcome comments and suggestions.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand t


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Limit of Liability and Disclaimer of Warranty: The author has used his best efforts
in preparing this book, and the information provided herein is provided “as is.” The
author makes no representation or warranties with respect to the accuracy or
completeness of the contents of this book and specifically disclaims any implied
warranties of merchantability or fitness for any particular purpose and shall in no
event be liable for any loss of profit or any other commercial damage, including
but not limited to special, incidental, consequential, or other damages. Betting
comes with an inherent element of risk, and the author specifically disclaims
liability for any financial losses sustained in connection to the contents of this
book. Trademarks: This book identifies product names and

CURRENT SUMMARY:
Limit of Liability and Disclaimer of Warranty: The author has used his best efforts
in preparing this book, and the information provided herein is provided “as is.” The
author makes no representation or warranties with respect to the accuracy or
completeness of the contents of this book and specifically disclaims any implied
warranties of merchantability or fitness for any particular purpose a

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Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest excerpt provided. Let me start by carefully reading through the excerpt to understand t


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
They are used throughout this book in an editorial fashion only. In addition, terms
suspected of being trademarks, registered trademarks, or service marks have been
appropriately capitalized, although the publisher cannot attest to the accuracy of
this information. Use of a term in this book should not be regarded as affecting the
validity of any trademark, registered trademark, or service mark. For Elliott and Matias

Contents
Introduction
7

CURRENT SUMMARY:
They are used throughout this book in an editorial fashion only. In addition, terms
suspected of being trademarks, registered trademarks, or service marks have been
appropriately capitalized, although the publisher cannot attest to the accuracy of
this information.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this. I'm supposed to help refine a knowledge card for a sports betting document based on the provided excerpt. First, I need to understand what the user is asking for. They've g


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
135

Should You Try To Win 60% Or 54%?
138
Derivatives
140
A Derivative Example
145
Props
153
Taking Advantage of Parlays
159
Multiway Markets And Futures
171
Angles
181
In-Play Betting
193
Taking Advantage of Sportsbook Marketing
212
Chopping The Hold
220
How Do I Know If I’m Winning?
227
Acknowledgements
233
Appendix A
234

Introduction

“If you can’t spot the sucker in your first half hour at the table,
then you are the sucker.”
In a movie full of great lines, that one was the best. The best
because Rounders was a poker movie, and no sentence has ever hit
at the core of poker better than that one. But also, the best because the idea so clearly transcends poker. It’s a dark truism about our culture and the world we live in. And—in a much more trivial bu

CURRENT SUMMARY:
135

Should You Try To Win 60% Or 54%? 138
Derivatives
140
A Derivative Example
145
Props
153
Taking Advantage of Parlays
159
Multiway Markets And Futures
171
Angles
181
In-Play Betting
193
Taking Advantage of Sportsbook Marketing
212
Chopping The Hold
220
How Do I Know If I’m Winning?

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this step by step. The user is asking me to refine a knowledge card for a sports betting document based on the provided excerpt. I need to extract the most important information


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Some games like
slot machines and video poker are obviously so. You sit by
yourself at a machine and press buttons. Table games like blackjack may not appear to be single player
at first. There’s always at least a dealer at the table, and there are
usually other players too. But the dealers are just there to turn cards over and pay bets—
they have no decision-making authority. Their jobs could easily
be done by a machine—machine dealers are a trend in modern
casinos. The other players at the table aren’t part of your game either. They’re playing their own games. Next to you. What they do has
no effect on your game, and vice versa. If they’re suckers, it does
you no good. The only thing that matters in blackjack is how well
your strategy exploits the static rules of the game.

8

CURRENT SUMMARY:
Some games like
slot machines and video poker are obviously so. You sit by
yourself at a machine and press buttons.

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- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

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Okay, so I'm trying to understand this sports betting document. Let's see... The excerpt talks about blackjack and slot machines. It says that in blackjack, there's always a dealer and other players,


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
People often think of these casino games as “you versus the
house.” But the house isn’t playing. You’re the only one playing. Against a fixed ruleset designed to make you lose. The house is
just there to run the game and collect your losses. Poker is different, of course. It’s different because the house’s
role as a non-player is more obvious. You sit at a table with eight
other people, and you are really playing against them. If you’ve
got a sucker at the table, then it’s likely to be a good day. Again,
the house’s role is simply to run the game and collect a fee for
doing so. Sports betting is unique because it’s the only game where you
are, in fact, playing against the house. The house is an active
participant. It’s your main, direct adversary. It’s also a zero-sum game. Either

CURRENT SUMMARY:
People often think of these casino games as “you versus the
house.” But the house isn’t playing. You’re the only one playing.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm faced with a user who wants me to refine a knowledge card for a sports betting document. They've provided an excerpt, and they want me to extract the most important information and presen


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Or the house will win, and you will
lose. It’s a little unfair, because unlike in poker where you can stare
your opponents down across the table, in sports betting you
usually don’t get to look your competition in the eye. But every
time you make a bet at a sportsbook, you are playing in a game
against other people. People who work for the sportsbook. Other
bettors. People who are trying to beat you. Because if they don’t
beat you, then by the definition of a zero-sum game, you will beat
them. And if you do enough of that they’ll be out of a job. This is a core truth about sports betting. You’re playing a game
against other people who are actively trying to beat you. And it’s not just a two-player game—you against the house. It’s a multiplayer game where you are playing indirectly

CURRENT SUMMARY:
Or the house will win, and you will
lose. It’s a little unfair, because unlike in poker where you can stare
your opponents down across the table, in sports betting you
usually don’t get to look your competition in the eye.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to figure out how to approach this task. So, the user has provided a detailed conversation history where they're working on refining a knowledge card for a sports betting document.


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
9
In sports betting if the best player in the world is betting in
your market, it costs you money and makes it harder for you to
win. So, while Mike McDermott was talking about poker when he
said you need to be able to spot the sucker, it’s even more true in
sports betting. If you can’t spot the sucker, you are the sucker. This book teaches you how to spot the sucker and to keep from
being the sucker yourself. And maybe even how to make a few
bucks along the way. The book is divided into three parts. The first part is an indepth examination of your main counterpart, the sportsbook. It’s
a nuts-and-bolts look at how bets work, and then an explanation
of how the sports betting industry is put together, its strengths,
its weaknesses, and what tricks you can expect from the folks who

CURRENT SUMMARY:
9
In sports betting if the best player in the world is betting in
your market, it costs you money and makes it harder for you to
win. So, while Mike McDermott was talking about poker when he
said you need to be able to spot the sucker, it’s even more true in
sports betting.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this step by step. The user has provided a detailed history of their interactions, showing that they're working on refining a knowledge card for a sports betting document. They'v


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The second part of the book covers the logic of sports betting. These are the main concepts you need to navigate markets, avoid
pitfalls, and build a winning strategy. The third part is a practical guide to looking at a sports betting
menu and consistently finding bets that will win over time. My goal with all of it is to give you a pretty good look behind
the curtain of the sports betting industry, so you see where
sportsbooks are strong and where they’re barely holding things
together. (The barely holding things together parts should be your
focus when betting.) Then to outline the logic of how to find
good bets while still allowing you to take the final step on your
own to put the ideas into practice. Finally, a caveat. This book is about the logic of sports betting. It’s not a

CURRENT SUMMARY:
The second part of the book covers the logic of sports betting. These are the main concepts you need to navigate markets, avoid
pitfalls, and build a winning strategy.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I need to help refine a knowledge card for a sports betting document based on the provided excerpt. Let me read through the excerpt carefully to understand its content and identify the key po


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
sports if you don’t do much data work, but it’s impossible to win
a lot without diving deeply into the data. What I cover in this book is all required knowledge to bet
professionally, but it is not enough on its own. If your goal is to
become a highly educated recreational bettor, this book might be
all you need to have fun with betting and stick it to the
sportsbooks. If you want to turn your betting into a business,
however, you need a lot more knowledge than just what I cover
here. Alright let’s get to it.

CURRENT SUMMARY:
sports if you don’t do much data work, but it’s impossible to win
a lot without diving deeply into the data. What I cover in this book is all required knowledge to bet
professionally, but it is not enough on its own.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I need to help the user refine a knowledge card based on their provided excerpt from a sports betting document. The user has been giving me detailed instructions each time, so I should pay cl


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Sports Betting Is A
Multiplayer Game

I doubt most people would really think about it this way, but in
my experience, many sports bettors treat the activity like it’s a
game of solitaire. Or like it’s a puzzle book like Sudoku or
something. They open a sports betting app or website—or pick up a sheet
if they’re really old-school—and start looking at the lines one-byone. They’re looking for lines that are “off.” They make their
estimate of what the line should be, they look at what’s on the
app or sheet, and if they’re sufficiently different, they make a bet. I guess the theory goes that there are bad lines out there, and
if you find enough of them through this process, you’ll win. Sports betting as solitaire is a terrible way to think about the
game, though. I don’t know of any

CURRENT SUMMARY:
Sports Betting Is A
Multiplayer Game

I doubt most people would really think about it this way, but in
my experience, many sports bettors treat the activity like it’s a
game of solitaire. Or like it’s a puzzle book like Sudoku or
something.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to figure out how to approach this. So, the user has provided a conversation history where they've been refining a knowledge card for a sports betting document. Each time, they giv


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
competition as well. Someone who has a whole lot of built in
advantages over you. There’s a counterparty to your bet. An equal party. If it’s a
Yankees-Red Sox game, and you bet the Yankees for $100 to win
$100, then someone somewhere offered to bet the Red Sox
against you for $100 to win $100. If you bet $100 to win $10,000
on the Cleveland Browns to win the Super Bowl, then someone
else has agreed to bet $10,000 to win your $100 that they won’t. That counterparty isn’t a machine or an algorithm or a table
game dealer bound by static rules. It’s an actual person with
latitude to play the game how they see fit. That person made the
two-sided offer and agreed to take the other side because they
thought they had the right side of it. They think you’re gonna lose. But really sports

CURRENT SUMMARY:
competition as well. Someone who has a whole lot of built in
advantages over you.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this sports betting thing. It seems like it's not just about picking winners or losers; there's more to it than that. The user mentioned something about a multipla


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Because at the very same time you opened your app and
started looking at prices, so did hundreds of other people. Some
people who bet for a living look at those prices all day long every
day. And they’re trying to do the same thing you are. They’re
looking for the lines that are “off” and they’re betting them. Think about how Black Friday works. Every year some big
retailer announces that their Black Friday sale will start at exactly
6am. And a huge crowd forms outside, and then when they open
the doors, the mob rushes into the store and someone films it and
it gets on the news and all of us above-it-alls shake our heads and
wonder why anyone could be so selfish and foolish and
materialistic that they’d trample their fellow humans to try to buy
cheap stuff on Black Friday.

CURRENT SUMMARY:
Because at the very same time you opened your app and
started looking at prices, so did hundreds of other people. Some
people who bet for a living look at those prices all day long every
day.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's see what I need to do here. The user provided a history of previous interactions where they were refining a knowledge card about sports betting. Each time, they gave a specific excerpt


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You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
15
But why are people doing that? Are they just nuts? Why don’t
they just wait a few hours until the mob is gone and do their
shopping in relative peace? They brave the mob because they know that the retailer uses
artificial scarcity on the very best deals. Yes, you can—as
advertised—buy a 65-inch TV for $99. But there are only three
dozen of them in stock. And when they’re gone, they’re gone, and
when the TVs get restocked the price is going back to normal. This is almost always true. The real deals rarely last. By the
time you hit the store even a few hours later, you’re basically
looking at run-of-the-mill sale prices and possibly nothing even
worth driving to the store for. Sports betting is very similar. Sportsbooks tend to have a
predictable schedule for when they list the

CURRENT SUMMARY:
15
But why are people doing that? Are they just nuts?

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this sports betting thing. It seems like a lot of people are involved, and there's a lot to it. I remember hearing that sports betting is more complex than just pi


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
For the
NBA, for example, a market making sportsbook might post the
next day’s NBA games at roughly the same time every evening. A
“mob” collects, waiting for these markets to post. (The mob is
online obviously. And we’ll talk more about market makers later
in the book, but for now a market maker is just a sportsbook that
posts opening lines for games, takes bets, and moves their line
based on the action. If you thought every sportsbook did this,
well, keep on reading.)
As soon as the markets post, people scan the lines as quickly
as they can looking for the best deals. As soon as they spot a deal,
they jam in a full-limit bet. And as soon as someone makes a bet,
the sportsbook moves the price. If the price is still a “deal” after a single price move, either
someone else bets

CURRENT SUMMARY:
For the
NBA, for example, a market making sportsbook might post the
next day’s NBA games at roughly the same time every evening. A
“mob” collects, waiting for these markets to post.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this sports betting thing. It seems like a lot of people are involved, and there's a lot to it. I remember hearing that sports betting is more complex than just pi


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
At this point, the sportsbooks that don’t act as market makers
(that’s most all of them), open their markets. They use the lines
that got hashed out by the feeding frenzy. They want nothing to
do with the mob or the $99 TVs. They’re selling only the TVs
that are still left after all the $99 ones are gone. That’s the trouble with looking at sports betting as you versus
the sportsbook. Whatever price you’re seeing—whatever line you
think is “off” or has “value”—has been seen by dozens or
hundreds of other like-minded people. And they all looked at that
price and didn’t see what you think you see. They looked at it and
said, “Meh, bad bet.”
That does not mean necessarily that you are wrong and they
are right. Obviously if they were always right, it would be
essentially impossible

CURRENT SUMMARY:
At this point, the sportsbooks that don’t act as market makers
(that’s most all of them), open their markets. They use the lines
that got hashed out by the feeding frenzy.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to understand this sports betting thing. It seems pretty complex, more than just picking a team or something. There's something about odds and how they change, and it's not just ab


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
It’s very strong. It’s strongest in the markets
that get the most attention. For example, consider the major NFL markets—game point
spread, moneyline, total, and first half point spread and total. By Sunday night, the earliest market makers will post lines for
the next week’s NFL games for the major markets. The feeding
frenzy process will take place. Then on Monday a few more places
will post lines and another minor feeding frenzy will happen. Let’s say your favorite sportsbook then opens their NFL
markets for the week on Tuesday morning. One way or the other,
they will be duplicating the current lines posted at the early bird
places—the lines arrived at after the feeding frenzies stopped
because those involved couldn’t find anything worth betting
anymore.

CURRENT SUMMARY:
It’s very strong. It’s strongest in the markets
that get the most attention.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this sports betting thing. It seems pretty complex, more than just picking a team or something. There's something about odds and how they change, and it's not just


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
17
If your process is just to look at these lines on Tuesday
morning, see which ones look “off,” and bet them, chances are
very strong that your process is a losing one. Because the sportsbook’s hold1 forces you to be “right”
the vast majority of the time. If one of your theories turns out to
be mostly BS, every bet you make using that theory costs you two
or three “good” bets worth of value. When you bet on Tuesday you’re saying, “I know hundreds of
people who are trying to win already picked through all these
numbers, but I can find the seven ones they all missed, and I’m
almost never wrong about it.”
Again, this is not impossible. I’m just hoping when I put it this
way that you understand what a high bar it really requires to try
to beat these major markets. Furthermore, the

CURRENT SUMMARY:
17
If your process is just to look at these lines on Tuesday
morning, see which ones look “off,” and bet them, chances are
very strong that your process is a losing one. Because the sportsbook’s hold1 forces you to be “right”
the vast majority of the time.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to figure out what the user is asking for here. They provided a series of interactions where they're asking me to refine a knowledge card for a sports betting document. Each time,


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Furthermore, there’s a substantial difference between trying to
bet NFL on Tuesday and betting on Saturday or Sunday morning. On Tuesday, the market making books that set the lines typically
still have restricted limits on NFL and college football. This limits
who wants to participate in the market on Tuesday—the football
bettors with the largest bankrolls (a mixture of the strongest
bettors and the not-as-strong-but-with-enormous-egos bettors)
often sit things out until the limits increase. Sunday night and Monday NFL bettors are the sports betting
equivalent of Black Friday retail shoppers trampling and clawing
each other over a pile of half-off Nintendos. Tuesday and
Wednesday bettors are the folks who spend all day on eBay
sniping mispriced auctions and reselling the goods at

CURRENT SUMMARY:
Furthermore, there’s a substantial difference between trying to
bet NFL on Tuesday and betting on Saturday or Sunday morning. On Tuesday, the market making books that set the lines typically
still have restricted limits on NFL and college football.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this sports betting thing. It seems pretty complex, more than just picking a team or something. There's something about odds and how they change, and it's not just


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Saturday and Sunday NFL bettors are big swinging dick Wall
Street traders (sometimes literally). Okay that was a ridiculous analogy, but you get the idea. As
the week goes on, the inventory (the major NFL side and totals
markets) get picked over by increasingly sophisticated bettors. If you’re betting an NFL point spread, moneyline, or total on
Sunday morning at a major market making book (or at a retail
book with the same price as the market makers), it will prove very
difficult to win. You will need a truly unique insight into how
these bets should be priced that an entire country of 300 million
people doesn’t comprehend. All this explanation leads up to one central idea. In the rest of
the book I will teach you how to go about looking for bets that
win. Perhaps the most key id

CURRENT SUMMARY:
Saturday and Sunday NFL bettors are big swinging dick Wall
Street traders (sometimes literally). Okay that was a ridiculous analogy, but you get the idea.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's try to tackle this. So, the user provided some excerpts from a sports betting document and wants an improved knowledge card based on them. The summary they gave is:

"Saturday and Sunda


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Look for virgin lines, scarcely examined bets, and those
that serious bettors tend to ignore. Look for markets at one sportsbook that aren’t even offered
at other sportsbooks—this cuts down the number of eyeballs
who might see the bets and snipe the good ones before you. Look for markets that are only up for a few minutes (second
half and in-play markets). If you go into this thinking you’re the smartest person in the
world and that you can go head-to-head with the entire betting
market, you will almost certainly fail. So don’t do that. Treat sports betting like an Easter egg hunt. When all the other kids run one direction, you run the other. Look
for the eggs a little less out in the open. It’s more fun anyway. Break-even Percentages

Just like most poker books start by explainin

CURRENT SUMMARY:
Look for virgin lines, scarcely examined bets, and those
that serious bettors tend to ignore. Look for markets at one sportsbook that aren’t even offered
at other sportsbooks—this cuts down the number of eyeballs
who might see the bets and snipe the good ones before you.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, I'm trying to understand this sports betting thing. It seems pretty complex, more than just picking a team or something. There's something about odds and how they change, and it's not just about