A wagerline consensus bet is simply betting with the public. Public betting information actually plays a large role in the sports betting industry. You will want to try to uncover this information before placing any bets. A wagerline consensus bet is an elaborate term that most novice bettors have never even heard of or used. However, they may be familiar with the concept.
When the odds are revealed, action is quickly taken on either side of the bet. The side that has the most betting action becomes the wager line consensus. Then, you will hear people talking about the public is leaning a certain way.
This betting consensus will typically swing back towards being even, right before a game plays. This is because the sportsbooks have manipulated the odds. Some bettors will play the wager line consensus all the time. Meanwhile, others will do the opposite.
The wager line consensus does not affect the outcome of the game, but it can affect the odds and payout percentages.
Why this way of betting matters to sportsbooks
Sportsbooks use the consensus betting information to help them adjust the betting odds and lines for a particular matchup. Bookies want the action to be close to 50 percent on either side. They will be forced to make adjustments if the public is laying big money on one side.
For example, betting lines change from time to time. You aren’t likely to see a massive shift. Bookmakers and sportsbooks can simply shift the line by a .5 point or full point in other to get the consensus to be more even.
The consensus pick is going to win sometimes. Sportsbooks will do whatever it takes to guard against heavy losses. Typically, sportsbooks keep a much closer eye on the wager line consensus bets than the average sports bettor.
How do wagerlines affect the bettor?
If you are someone that is just getting into the sports betting industry, then you need to be on the lookout for the consensus picks. This is some very valuable information that can help you get off on the right foot.
You need to know what the wagerline consensus is so that you can “fade the public” as much as possible. It’s a term often used as you deepen your involvement in this industry.
There is a reason that sportsbooks continue to make extreme amounts of money. The public is wrong more times than not. You don’t just want to blindly follow the consensus when making your picks.
You especially want to be cautious if you see that the wagerline consensus is close to 70 percent on a certain team. Sportsbooks know how to guard against these situations, and it would be the perfect time to bet on the other side.