Richard Migliore announces retirement

Horseracing Betting Lines

06/02/2010 - Elmont, NY (Sportsbook Betting Lines) - Veteran jockey Richard Migliore announced his retirement from racing Wednesday morning. The 46-year-old was forced to retire due to continued physical problems.

"It's no big surprise why we're here," Migliore said at Belmont Park, "my career as a jockey is over. It's not by choice: I was in the doctor's office on Wednesday of last week and he assured me that I would never ride another thoroughbred again. He works on many NFL players and said if you have a level two fusion, you have to retire. I have a level four fusion."

Migliore suffered severe injuries when he was thrown during a race at Aqueduct this year on January 24. That was the latest of many injuries he suffered in a 30 year career.

The Brooklyn-native won 4,450 races in 30,102 mounts and accumulated more than $160 million in earnings. He won the 1981 Eclipse Award as champion apprentice jockey and won the 2008 Breeders' Cup Turf Sprint aboard Desert Code.

"Horses have given me everything in life, everything good in my life stems from horses," Migliore said. "The emotion that I feel now is just knowing I won't get to do it now, and that makes me sad. But I'm also understanding of the fact that my situation is a lot better than a lot of other guys, and I'm sure many people would trade places with me having to make this announcement. The biggest thing I feel is gratitude that I got to live my dream."

Among the many horses Migliore rode during his career were Funny Cide, Artie Schiller, Fourstardave, Albert the Great, Kip Deville, Wando and Student Council.

He was presented with the Eddie Arcaro Award as Outstanding Jockey in 1981 and 1985 by the New York Turf Writers Association. He received the 2003 Mike Venezia Memorial Award from the New York Racing Association for extraordinary sportsmanship and citizenship as well as the 2008 George Woolf Memorial Jockey Award.

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ODDS TO WIN THE BCS NATIONAL CHAMPIONSHIP

Notre Dame
Ohio State
West Virginia
Texas
USC
Florida
California
Auburn
Oklahoma
Iowa
Louisville
Florida State
Michigan
Miami (FL)
LSU
Penn State
Virginia Tech
Nebraska
Tennessee
Georgia
Arizona State
Oregon
Clemson
Texas A&M
Texas Tech
Alabama
Arkansas
Boston College
Michigan State
Maryland
South Carolina
Colorado
Purdue
Georgia Tech
TCU
UCLA
Arizona
Pittsburgh
Iowa State
Wisconsin
North Carolina State
Virginia
North Carolina
Fresno State
Hawaii
Northwestern
BYU
Oregon State
UNLV
Field (Any Other Team)
5-1
7-1
8-1
8-1
8-1
12-1
15-1
15-1
18-1
20-1
20-1
20-1
20-1
20-1
25-1
40-1
40-1
50-1
60-1
60-1
60-1
70-1
70-1
100-1
100-1
100-1
100-1
100-1
150-1
200-1
200-1
200-1
200-1
200-1
250-1
250-1
300-1
300-1
300-1
300-1
300-1
300-1
400-1
500-1
500-1
500-1
500-1
1000-1
1000-1
40-1



ODDS TO WIN ACC CHAMPIONSHIP GAME

Miami (FL)
Florida State
Virginia Tech
Clemson
Georgia Tech
Boston College
Maryland
Virginia
North Carolina State
North Carolina
Wake Forest
Duke
2-1
2-1
3-1
7-1
15-1
15-1
15-1
30-1
30-1
30-1
50-1
500-1



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Texas
Oklahoma
Nebraska
Texas Tech
Colorado
Iowa State
Texas A&M
Kansas State
Missouri
Kansas
Baylor
Oklahoma State
7-5
9-5
9-2
12-1
14-1
15-1
15-1
30-1
30-1
35-1
100-1
100-1



ODDS TO WIN SEC CHAMPIONSHIP GAME

Auburn
Florida
LSU
Georgia
Tennessee
Arkansas
Alabama
Mississippi
South Carolina
Mississippi State
Kentucky
Vanderbilt
5-2
11-4
4-1
6-1
7-1
7-1
9-1
20-1
28-1
75-1
100-1
300-1

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Sportsbook Betting Lines

Who Makes the Sportsbook Betting Lines?

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process. Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.

“You either have a passion for it or you don’t,” Seba said.

“The #1 thing for us is to make a line for each game that creates good two-way action. We do this by drawing from past experiences and applying them to current situations. People think it’s much more complicated, but it’s not. “

What are the Football Betting Lines Trying to Accomplish?

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’).

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10).

How the Opening Line Is Made

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. Of course there is an entire method to the madness on how the opening line is created. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. This usually includes having up-to-date power ratings on each team.

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a "preliminary" pointspread on an upcoming game. The power ratings are adjusted after each game a team plays. Examples of non-game factors that would require an adjustment to a team's power rating are key player injuries and player trades.

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team's most recent games played and previous games played against that opponent. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.

Since the oddsmaker’s ultimate goal is equally dividing the sports betting action, public perception and sportsbook betting patterns must be taken into account. For example, the public might have heavy betting interest week after week on a popular college football betting team such as USC. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line "feels right." This is where common sense and past experience with how games are bet enters into the picture.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.

Why Sports Betting Lines Change

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. Reasons for such adjustments include:

Experts working for the individual books having a strong opinion on the game

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action.

Once betting begins, sportsbooks can adjust the line at any time. In doing so they attempt to make more attractive the team that is getting less action. By moving the line, sportsbooks can influence how the public bets on a particular game.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite.

Moving the line is the oddsmaker's effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Oddsmakers have to determine if any changes are necessary and send out an "adjusted line."

“The main objective is that our clients get equal action on both sides,” Seba said. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). If we’ve done that, we’ve done our job.”

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