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03/12/2010 - Ashburn, VA (Sportsbook Betting Lines) - The Washington Redskins signed running back Larry Johnson on Friday.
Terms of the deal were not announced, but a report in the Washington Post says the contract is for three years and a total of $12 million.
The two-time Pro Bowl selection was released from the Chiefs last November following a suspension that was levied after the former first-round pick posted demeaning comments toward Chiefs head coach Todd Haley, using a pair of gay slurs in the process.
He was later picked up by Cincinnati and played in seven games with the Bengals, running for 204 yards.
The 30-year-old now returns home after growing up in Pomfret, Maryland.
"Being from the Maryland area, [I] grew up watching the Redskins," Johnson said. "That's what was on the TV, the Redskins and Cowboys...there's just so much history. I used to go to their camps--Gary Clark, Art Monk, all of those guys were there.
"It's great to be in a city with all my family and friends and everybody I basically went to high school and college with that's still down here. So it's fun."
Over his seven-year career, he has totaled 6,219 yards with 55 touchdowns along with 154 catches for 1,373 yards and six scores.
His best season came in the 2006 campaign, when he rushed for a career-high 1,789 yards and added 19 total touchdowns with Kansas City.
<< Corliss Williamson takes over at Central Arkansas
Conway, AR (Sportsbook Betting Lines) - The University of Central Arkansas has named
former college and NBA standout Corliss Williamson as its next men's head
basketball coach.
Williamson, who enjoyed a fruitful 12-year NBA career, played his
<< UTEP dispatches Tulsa to gain C-USA final
Tulsa, OK (Sportsbook Betting Lines) - Randy Culpepper scored 21 points and Arnett
Moultrie added 18 to pace No. 25 UTEP to a 75-61 win over Tulsa in the
semifinal round of the Conference USA Tournament at the BOK Center.
Christian Polk
<< Tennessee moves on in SEC Tournament
Nashville, TN (Sportsbook Betting Lines) - J.P. Prince scored 17 points and Wayne Chism
added 16 and 15 rebounds, as No. 15 Tennessee dismissed the Ole Miss Rebels in
the quarterfinals of the SEC Tournament with a 76-65 victory.
Cameron Tatum had fou
<< Els moves ahead at rainy CA Championship
Miami, FL (Sportsbook Betting Lines) - Ernie Els fired a six-under 66 on Friday to move
in front after the second round of the WGC-CA Championship at a rainy TPC Blue
Monster at Doral.
Els, a three-time major winner, finished 36 holes at 10-under 1
Chiefs sign veteran center Wiegmann >>
Kansas City, MO (Sportsbook Betting Lines) - The Kansas City Chiefs have signed
veteran center Casey Wiegmann.
The 14-year pro spent the last two seasons with Denver and started in all 32
regular season games. He has gone the last eight
Schalke edges Stuttgart to grab first >>
Gelsenkirchen, Germany (Sportsbook Betting Lines) - Kevin Kuranyi scored his 14th goal
of the season to lead Schalke to a 2-1 win over Stuttgart on Friday and into
first place in Germany's Bundesliga.
Schalke moved one point ahead of Bayern Munich
Weather woes remain at Puerto Rico Open >>
Rio Grande, Puerto Rico (Sportsbook Betting Lines) - A new day brought only more weather
problems for the PGA Tour's Puerto Rico Open, which still wasn't halfway
through the first round when play was suspended Friday because of darkness.
Rain c
Oregon QB Masoli suspended for entire 2010 season >>
Eugene, OR (Sportsbook Betting Lines) - Oregon Ducks quarterback Jeremiah Masoli was
suspended for the entire 2010 season after pleading guilty to charges of
second-degree burglary on Friday.
Ducks head coach Chip Kelly made the announce
Recently I had an email debate with an angry reader who said I did not understand "the science of oddsmaking", as he called it.
He said I was wrong for suggesting oddsmakers care about who wins or loses games.
"Oddsmakers only care about splitting the betting public 50/50 on both sides of the line and keeping the commission (a.k.a. juice)," he wrote.
He might have been right about not understanding "the science of oddsmaking". After all, I'm not an oddsmaker. That said, I stick to my assertion that oddsmakers (a.k.a. sportbooks) often do care about who wins games.
Granted, as a general rule, sportsbooks try to balance their action so that they're not exposed to big losses. However, there are times when this is difficult to pull off, regardless of how much a line has moved. There are also times when that general rule is ignored and a book pursues risk.
Generally speaking, it's safe to say the books in Vegas are risk-adverse. Unlike in the past when the wise guys ruled the town, Vegas is now corporate and the goal of most casinos is to make as much money as possible with as little risk as possible.
Thus, Vegas sportsbooks try everything in their power to balance the action. They're satisfied simply collecting the juice. But these profits are small, especially compared to the take from other casino games, namely slot machines.
Because the profits at Vegas sportsbooks are so small, you could argue that many casinos operate sportsbooks simply as a novelty to keep the tourists happy.
With a growing aversion to risk, it should come as no surprise that Vegas bookmakers have been panicking this NFL season.
Despite huge pointspreads, a disproportionate percentage of bettors are still laying their money on favorites like the Eagles, Colts, Pats and Vikings rather than the dogs (a common trend for the largely recreational bettors that visit Vegas).
And much to the dismay of the books, those favorites are finding ways to cover the thick chalk. In fact, prior to Week 7, the four teams listed above are a combined 16-2-2 (88 percent) against the spread. (The tables turned dramatically in Week 7, but more on that later.)
The result has been an early-season beating for the books, and a bonanza for bettors.
While Vegas increasingly hates risk, it's no longer a major player in the sports betting world. Most of the betting action now takes place offshore where sportsbooks are not as obsessed about balance. In fact, some books encourage exposure to risk because the rewards can be so much bigger.
Consider MySportsbook.com. On its website, the book has odds pages which actually display the amount of action it's getting on games. In other words, you can see how much action the book is taking on both sides of a pointspread, moneyline or over/under.
One look at these numbers and it's obvious MySportsbook.com does not balance every game. In fact, far from it.
Take last weekend's matchup between St. Louis and Miami. By game time on Sunday, 83 percent of the betting action at MySportsbook.com was on the Rams; only 17 percent was on Miami.
What's interesting is that MySportsbook.com opened the pointspread with Miami at +6 1/2. By game time, the spread had lowered to +5.
That goes contrary to the balancing theory. If MySportsbook.com had wanted to balance the action, it would have given Miami more points; instead, it took away 1 1/2. World Series odds are now up as well.
MySportsbook.com exposed itself to even more to risk, and rolled the dice on the underdog Dolphins. Why? I contacted a representative with the book to find out. His answer was simple.
"The line moved early based on 'smart money' from sharp players," said Jeff Gilroy, a spokesperson for the book. "We also knew from early in the week that we would need Miami, therefore (we dropped) the spread to encourage Rams money.
"At the end of the day, we liked the home team."
So the conclusion is this: MySportsbook.com respected the sharp action, and gambled that the sharp bettors had a better take on the game than the recreational bettors, who were hammering the visiting Rams.
In the end, the gamble paid off. Miami, desperate for a win in front of its home fans, pounded the overrated Rams, who are terrible on the road and even worse on grass. Final score: 31-14 Fish.
MySportsbook.com was also heavily exposed on numerous favorites in Week 7, including Philadelphia, Seattle and Denver. All three failed to cover.
The fact that sportsbooks are exposed to risk on certain games is really nothing new. The fact, that Sportsbook.com is willing to show the public where it's exposed is intriguing.
Armed with this type of information, bettors can make more educated wagers. They can get an idea where the sharp money is going and conversely where the public money is headed.
MySportsbook.com is opening up its cashbox, letting bettors look inside and challenging them to take their best shot at grabbing the cash.
To visit this online football betting got to MySportsbook.com for all your football betting odds needs. Mysportsbook.com online sportsbook accepts Visa and Mastercard credit cards.
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