Definition
The public is defined as the general betting public. They are the ones who go to Las Vegas on the weekend and bet on their favorite team, irregardless of statistics and any compelling factors.
The need for the public
Las Vegas was not built on winners. Sportsbooks rely on the public to keep them open. Thus, it is up to the savvy gambler to break this trend and bet against the public. The public, in general, is anyone who is not a sharp or professional. In the sports gambling industry, the public is viewed as perennial ‘losers’ and should be faded at any cost. The public bets with their heart, and not their heads.
Some common pitfalls that the public falls into
The public loves to watch Sportscenter. They follow useless trends, such as team A is 10-0 on Saturday evenings; they remember only the spectacular catches and awesome dunks; they do not take into account underlying factors such as revenge, travel angles, and the like. They love to play parlays, teasers, futures bets, and do not follow money management skills. They also love to play the favorites and play multiple games a day. They crave action and will bet on almost everything. In short, they are the reason why sportsbooks exist.
Fading the public
The public is consistent in the way they bet, backing the favorites on the moneyline and against the spread (ATS). With this in mind, consider the National Football League. Since this sport draws the most handle than any other sport, the sportsbooks often shade NFL favorites. With the exception of last year, betting NFL underdogs have shown to be profitable in the short and long term. Blindly betting this angle will increase one’s bankroll. In high handle games, such as NFL games, favorites win the game straight up, but do not cover the spread. Another angle to consider is fading the public when more than 90% of the money is on one side. As evidenced by www.sportsbook.com, if one side is receiving lopsided action (such as 90%), such a side is doomed to lose. This instance reflects the fact that the oddsmakers have fooled / duped the public into taking a ‘juicy’ side.
Summary
In summary, the public is the regular Joe Q. who goes to Las Vegas for the weekend. They do not handicap any of the games they bet on, and merely bet with their hearts. They fall into the traps set by the oddsmakers and never learn from their own mistakes. In short, they exist to proliferate the sportsbooks.