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12/05/2011 - Philadelphia, PA (Sportsbook Betting Lines) - The drought lasted 749 days, 107 weeks and 27 starts.
Tiger Woods is finally a golfing champion once again. His win Sunday at the Chevron World Challenge was his first since the infamous car crash that derailed his personal life.
Some thought the crash would never derail his professional life, but it did. Woods left Hank Haney, fired Steve Williams and, with Sean Foley and Joe LaCava, got back to the winner's circle.
Is Woods back to being the dominant Woods, the 2000s Woods?
It would be very naive to surmise that based on Sunday's victory.
The Chevron World Challenge is not an official event, although it does award world ranking points. The win actually moved Woods up 31 places to No. 21. No matter how crazy it seems for an event of such little magnitude to carry such large weight, Woods is on the cusp of the top 20.
This event can alter the world rankings completely as we know it, the fact is that one can not be declared "out of a slump" with a victory at a tournament that boasts 18 players.
The world rankings weighted this championship heavily, but the real tournaments of the week were half a globe away.
Four players in the Chevron field are ranked in the top 10 on this Monday morning. Three of the top four players in the world were at the Nedbank Challenge in Sun City, South Africa. The missing player from that quartet, Rory McIlroy, won a full-field event in Hong Kong on the European Tour.
Woods' game held up brilliantly against Zach Johnson down the stretch, but that wasn't the same as getting into a dogfight with Luke Donald, Lee Westwood, McIlroy or Martin Kaymer.
The Nedbank is one of the most lucrative events in the sport. The Hong Kong Open was the final full-field tournament on the European Tour schedule. Players were trying to get into the top 60 on the money list so they could get into the field this week at the Dubai World Championship.
That took away from the quality of the Chevron field, thus, took away some from the quality of Woods' victory.
"This is a tough date right before the Race to Dubai," Woods said after his victory Sunday. "I'm ecstatic the field we got. Got a lot of good players here. Generally in the past we've had more international players that play; this year was basically an American kind of field. We'll see. It's all schedule. The Race to Dubai is now part of a new reality for us, and maybe we can work around it somehow."
Without the greatest field in the world, Woods did come out on top and that's important. A first win has to come somewhere and at some time. Woods couldn't control this field, or who would emerge at the top of it. Johnson played decently for a few days, then Tiger blew by him with birdies at the end.
That's why this victory can't be considered anything more than a nice, positive step. You have to test your game in the most pressure-packed of situations. Due respect to Johnson and Sherwood Country Club, but that glorified pro-am won't be confused with the back nine Sunday at Augusta.
Woods won't be back all the way until he wins a major championship. He's based his entire career on those four championships, so until he captures another one of those, then you'll see a different column.
That's an incredibly high and possibly unfair bar to reach, but Woods set it. Remember, the 2009 PGA Tour season saw Woods win six times and he took home the FedExCup for a second time.
Injuries happen. Age catches up to all of us, but Woods was the player he always had been before the car accident. We all knew he'd get back to winning, but this doesn't signify he's all the way back.
You can't be back when your only victory is an unofficial one with 17 of your buddies in the field.
RANDOM THOUGHTS
- As explained to me by Doug Ferguson of the AP over twitter, Woods' big jump in the world rankings is based more on his number of events over two years than the field or size. The rankings seemed flawed.
- Luke Donald will go for history Sunday. He can become the first player to win the money title on the PGA Tour and European Tour in the same year. Rory McIlroy is trying to put some heat on him with a win in Hong Kong, but young Mr. McIlroy will need a really high finish to inch past Donald.
- The Geoff Ogilvy/Robert Allenby near fight over their Presidents Cup play seems a tad trivial. Allenby had to be upset at such a bad performance at his home course. Heated words, an offer to go outside over a spilled drink really isn't much, but it passes for serious action in the buttoned-up world of professional golf. That happens at your local bar, everyone's back playing darts in no time.
- Movie moment - Caught "The Descendants" the other day and that Clooney cat has a bright future. It's a great movie alternating between a comedic road trip and a sad tale of a broken family.
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In terms of sports wagering, the NFL is "the most popular game in town." The explanation behind that is easy.
It is called the "pointspread."
Many years ago, NFL games, as well as the more popular college games, used straight odds as a vehicle for betting. For example, if the Bears were playing the Giants, and it shaped up as a competitive contest, the Bears might be, say, a 7/5 favorite. If they were playing an also-ran, it might be 10/1. Well, there is a point where a line becomes prohibitive, as far as betting the favorite. And who would waste money betting an underdog that has virtually no chance? Such a setup did not contribute to promoting betting action.
But in modern sports betting, a "pointspread" is used.
A NFL pointspreads are exactly that, a pre-established point difference between the two sides that will, for all intents and purposes, create a handicap that evens things out, and in doing so, produces comparable wagering activity on both sides of that proposition. So in lieu of a odds figure in which to bet the team to win outright, the Bears might be a three-point favorite over the New York Giants, and a 17-point favorite over the also-ran. Now that the team that is the underdog can "get" points, there can be equal action on both sides.
In sportsbooks, this is usually done with efficiency by charging the losing bettors 10% extra - in effect, bettors are laying 11/10 on those games. So they are actually betting $110 to win $100. If they lose, they pay the "vig." If they win, they simply collect.
The establishment of the pointspread as the corner stone around which team sports like football can be wagered upon was truly what brought gridiron betting into the stratosphere for online football betting .
Don't believe it? Just take a look at what happens around the Super Bowl.
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There is little doubt that the NFL is where the sportsbooks see the most action and also make the most loot. The NFL possesses betting friendly attributes that are unlike any of the other major sports. First off, there are relatively few teams to keep track of in comparison to college football betting or college basketball. And second, these teams play only once a week which makes staying on top of the results much easier than it is in the daily leagues such as the NBA, NHL, and MLB.
These dynamics, along with the sheer excitement of watching and wagering on football, brings more square action to the table than any of the other sports. Almost every Tom, Dick and Harry in America is an NFL expert in their own mind and that is precisely what the oddsmakers prey upon.
Understanding who bets the games is just as important as understanding which teams are playing the games. The market at times will dictate price, which in the betting world means the oddsmakers cater to the public rather than reality.
Knowing the market inside and out is the basis of our NFL handicapping model. That is, our approach to NFL handicapping is of the contrarian or value seeking variety. We will at times place a higher premium on public sentiment than on the fundamentals. This strategy dictates playing dogs and/or lesser competent teams, or teams the public wants nothing to do with. Or better yet, fading the teams the oddsmakers want you to bet on.
Along these same lines, we carry a similar notion that the first week of the NFL season presents one of the ripest opportunities for the astute gambler. This conflicts with conventional wisdom and/or handicapping lore, as most would say it is better to watch a few games and assess each team before jumping in with both feet. That’s all fine and dandy, but there are some interesting trends to exploit in Week 1 and we’d be remiss to ignore them. Let us quickly explain.
Gone are the days of dynasties, where the same core players stay intact and dominate the league year after year. Free agency and player movements can completely transform teams from one season to the next. In today’s parity-driven NFL, poor teams typically don’t stay poor for all that long and excellent teams must constantly reinvent themselves to stay on top.
The temptation might be to assume prior year results are the best indicator of who is going to cover in Week 1. To Joe Public, playoff teams from the prior season, home teams, favorites, and so one, look even more enticing than usual since there is no current season performance to judge them against. But the question begs: are the oddsmakers setting a trap?
To find the answer, we culled five years worth of Week 1 NFL data. As always, all of our analysis is done from an ATS perspective. The purpose here is to share the most important angles we unearthed and try to explain the logic behind them. So strap on your helmet, throw on your shoulder pads, and follow our lead as we expose some rare holes in the oddsmakers’ line of defense.
Home vs. Away Teams
Over the past five seasons, NFL home teams in Week 1 are just 31-42-7 ATS (42 percent). This of course implies that roadies are a 58 percent winning proposition during this time. The public at large has a tendency to overvalue home teams and this is especially true in Week 1 when there is no current season data to make predictions from. Consequently, the oddsmakers almost surely shade the home teams, by and large making road teams the choice for the value player.
Conclusion: Look long and hard at road teams first when handicapping the opening week.
Price ranges
Favorites are just 31-42-7 ATS (42 percent) in the opening week over the past five NFL seasons (Coincidentally, home teams hold the same ATS record as noted above). This means that underdogs bark at a 58 percent clip. Mid-range favorites performed the worst among our specified price ranges. In particular, favorites priced between –3 1/2 and –6 1/2 are only 8-15 ATS (35 percent) during this time.
The same basic pattern holds true when looking at home favorites (road favorites gravitate towards a 50 percent mean). Home favorites indeed are just 21-32-3 ATS (40 percent) in the first week of NFL action since 1999. Again, mid-range favorites are similarly the poorest performers when we look at home teams. Consider that home teams priced between –3 1/2 and –6 1/2 have stumbled to a 6-13 ATS (32 percent) mark in Week 1 games the past five seasons.
Conclusion: Like home teams, favorites and particularly mid-range favorites are generally overvalued in Week 1.
Playoff teams
It might surprise you to learn that playoff teams from the prior year versus non-playoff teams from the prior year are a mere 16-23-3 (41 percent) ATS in NFL Week 1 games over the past five seasons. Home teams which made the playoffs versus teams which did not make the playoffs from the prior season drop to a meager 7-14-1 ATS (33 percent) during this time.
Why are playoff teams, and in particular those at home, such bad bets the past five openers? Just as the case with home teams and with favorites, oddsmakers intentionally overprice playoff teams in the opening week to compensate for the public’s propensity to over bet them.
This theory holds true just looking at straight-up records from the past season as well. That is, home teams with winning records from the prior season vs. road teams with losing records from the prior season are just 8-13 ATS in Week 1 NFL games since 1999.
Conclusion: Playoff teams from the prior year and in particular, home playoff teams, are overvalued in Week 1 NFL games.
Scoring defense and scoring offense
Do good defenses and for that matter good offenses from the prior season fare better against the number the following year in Week 1 games? Well, sort of. Generally speaking, teams with a solid offense or defense from the prior season tend to do well in the opening week so long as they are on the road. As a host, however, the best offenses and best defenses from the prior year tend to be overvalued in Week 1.
Consider that the top five scoring defenses (i.e. points allowed) from the prior season are a nice 8-4 ATS (66 percent) on the road in NFL openers the past five seasons. Meanwhile, the top five scoring defenses from the prior season are just 3-8-2 ATS (27 percent) as a host in Week 1 during the same time period.
There is no discernable advantage or disadvantage for teams with a top five scoring offense (i.e. points scored) in Week 1 games. However, when we look at scoring offenses from the bottom up (isolating the five worst offenses from the prior season), the results are rather interesting. In particular, teams ranked in the bottom five in scoring offense from the prior season are 9-4-1 ATS (69 percent) when on the road in Week 1.
The logic is simply that the public perception is a poor scoring offensive unit from the year prior will have little chance of winning on the road in Week 1. In turn, the oddsmakers compensate for this perception and these poor offensive teams from the year prior carry extra line value on the Week 1 trail.
Conclusion: Teams with top-ranked defenses from the previous season are good bets when playing on the road, but poor bets when playing at home. Also, teams ranked among the bottom five in scoring offense from the prior season are generally a good value in their Week 1 openers, provided they are playing on the road.
Scoring margin
An exceedingly straightforward way of measuring scoring offense and scoring defense together as a whole is to look at a team's “margin." Margin is simply scoring offense minus scoring defense, which is a fairly clear-cut measure of how a team does on both sides of the ball. Typically, the higher the margin, the better the team.
In this regard, it might seem counterintuitive that teams carrying the higher margin from the prior season in week one matchups are merely 31-42-7 ATS (42 percent). Furthermore, road teams with the higher margin are 14-20-6 ATS (41 percent), while home teams with the higher margin are 17-22-1 ATS (44 percent). Once again, these results line up with the theory that better teams from the prior year are overvalued come opening day of the following season.
Conclusion: “Better” teams, which often boast a higher margin than their opponent, are overvalued the following season in NFL openers.
In sum
Oddsmakers cater NFL betting lines to match public perception and also to bait the public into poor bets. The temptation to use the prior year’s success as a buy sign for how a team will perform against the spread in Week 1 of the following season is an enormous trap.
The fact is, isolating road teams, road dogs, non-playoff teams vs. playoff teams, teams with a losing record or low margin vs. playoff teams or ones with a high margin from the previous year is where the line value resides. Quite simply, taking the road less traveled is your surest path to NFL betting profits.
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