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They don't set up lines to collect 50/50 on each side, they often stake a position

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I hear this a lot and I don't believe a word of it. They make money on juice and want to do ANYTHING but gamble. I know a lot of you think they want a side but I find those arguments to be ludicrous.

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It's not ludicrous and there is little doubt that this occurs. This doesn't mean the house hits at any higher than 52-53% long-term but they do in fact win by taking sides and thus are participants in the market.

Edit: note I am only talking about pointspreads, not totals or exotics.