Latest / The House Never Wins / Super Bowl LXI Predictions | La Casa No Gana Episode #102
Transcript
- 0:00- Stuff's overs. Nobody wants to bet on their
- 0:03- favorite team to disappoint.
- 0:05- Hello, guys. Welcome back to La Casa Nogana,
- 0:09- the NFL season. It's coming. And today, we
- 0:12- are not talking about spreads. We are not
- 0:14- talking Sunday money lines. No. We're not talking
- 0:17- player props.
- 0:19- Today, we're doing
- 0:21- long.
- 0:23- I'm gonna say, Bobby, not long. Very long
- 0:25- because we are talking about bets that might
- 0:29- take five months to cash.
- 0:32- That's right, Pau. Today we're talking NFL future,
- 0:35- division winners, conference winners,
- 0:38- win totals,
- 0:39- and Super Bowl futures. And we're looking at
- 0:43- of them through one question,
- 0:46- pal. Public money or sharp money?
- 0:50- Okay. Because there's a huge difference, Zoe, between
- 0:53- betting on a team you like and betting
- 0:56- on a price you think is wrong.
- 0:59- Exactly.
- 1:00- And that's the entire point of today's episode.
- 1:04- We are not trying to figure
- 1:06- figure out which teams are going to be
- 1:09- good. No. Everybody can do that. We are
- 1:12- trying to figure out where the market
- 1:15- might
- 1:16- be wrong.
- 1:17- So let's get started with money versus sharp
- 1:20- money.
- 1:21- Pabbie, let's define this first. So what exactly
- 1:25- do we mean by public money?
- 1:28- Okay. Public money usually follows the teams everybody
- 1:31- knows.
- 1:32- The big cutter back, the biggest franchise, the
- 1:35- teams that are constantly on television,
- 1:38- the teams that have a huge fan base
- 1:41- and especially the teams with a strong narrative
- 1:45- bow.
- 1:46- Exactly, Fabi. You hear? Josh Allen is going
- 1:49- to win MVP.
- 1:51- Mahomes
- 1:52- is going to make another run.
- 1:55- These Ravens
- 1:56- are loaded.
- 1:57- Buffalo is winning the AFC.
- 2:00- That's public thinking.
- 2:03- And there's nothing inherently wrong with that. That's
- 2:06- important. The public money doesn't automatically mean bad
- 2:09- money. No. It means the market, it's getting
- 2:13- a lot of attention from reactional bettors.
- 2:17- The problem, it's when the popularity
- 2:19- of that team
- 2:21- push the price
- 2:23- too far.
- 2:24- Yes, Bobby. And that's where sharp money becomes
- 2:27- interesting.
- 2:28- A sharp bettor isn't necessary
- 2:30- asking, for example, who's the best team? Oh,
- 2:33- they're asking,
- 2:35- is this price wrong?
- 2:38- That's the difference.
- 2:39- The public
- 2:40- bets the team.
- 2:42- The sharp
- 2:44- bets the number. Now, segment number two,
- 2:48- game time, pow. So let's make this fun,
- 2:51- very fun. We are going to play a
- 2:53- game. A game I gave you, a futures
- 2:56- bet, and you tell me,
- 2:59- public money or sharp money? Are you ready,
- 3:02- Pau? Yes. I love it. Let's go.
- 3:05- Okay.
- 3:07- And you're not allowed to overthink in it,
- 3:09- Pau.
- 3:10- Okay. Okay. It's dangerous, but that's okay.
- 3:14- Okay. Exactly what I like it. Now, bed
- 3:16- number one,
- 3:17- bills
- 3:18- over their win total.
- 3:21- Buffalo Bills over the project win total. Public
- 3:24- or sharp?
- 3:25- Public, Fabi.
- 3:27- Immediately. Yes. Immediately.
- 3:29- And look at the profile. Josh Allen, a
- 3:32- team that has been consistently competitive.
- 3:34- A fan base that expects another playoff
- 3:38- run, and the Bills are always part of
- 3:40- the Super Bowl conversation. So that's exactly the
- 3:44- kind of team recreational
- 3:46- bettors want to back before the season starts,
- 3:48- Fabi.
- 3:50- But here's the trap, Pau. Here's the trap.
- 3:52- Okay. You might be right about Buffalo. You
- 3:54- might be right about Buffalo, but they might
- 3:56- win 12 games.
- 3:58- But if the market is already pricing them
- 4:00- like a two a team for 12 win
- 4:03- team,
- 4:04- Where your value?
- 4:06- That's the key, Fabi, because you don't get
- 4:09- paid for predicting something obvious. You get paid
- 4:13- for identifying
- 4:14- when the price is wrong.
- 4:17- Okay. Next one. Baltimore Ravens to win the
- 4:21- AFC North. Public or sharp?
- 4:24- I'm gonna say sharp, Fabi.
- 4:27- I'm with you. I'm with you. And why?
- 4:30- Because this isn't necessary about Baltimore being one
- 4:33- of the best teams in the NFL,
- 4:36- but it's about the structure of the market.
- 4:38- So you are betting against Cincinnati,
- 4:42- Pittsburgh, and Cleveland. That's it.
- 4:45- Okay. And that's why division futures can be
- 4:48- interesting.
- 4:49- You don't need the Ravens to win the
- 4:51- Super Bowl. No. You don't need them to
- 4:53- dominate even The U the AFC.
- 4:56- You simply need them to finish first in
- 4:59- their division.
- 5:01- Exactly, buddy. And that's something better sometimes forget.
- 5:05- A Super Bowl futures ticket can require you
- 5:08- to be right multiple times. So a division
- 5:11- ticket
- 5:12- requires
- 5:13- you to be right about one specific
- 5:16- race.
- 5:18- I think the biggest mistake people make with
- 5:21- features is incredibly
- 5:23- simple.
- 5:24- They ask,
- 5:25- do you think
- 5:27- it's going to win?
- 5:29- That's the wrong first question.
- 5:32- Yes. Because the first question should be what's
- 5:35- the price?
- 5:37- Let's make it simple.
- 5:38- Let's say I think team x has a
- 5:41- 20% chance to win in the Super Bowl.
- 5:44- That means my fair price it's around plus
- 5:48- 400.
- 5:50- If the sports books give me a plus
- 5:53- 600,
- 5:55- now we're talking.
- 5:56- Yes, Zoe. Because plus 800
- 5:59- implies a probability
- 6:01- of really
- 6:02- 14.3%
- 6:04- more or less. If you believe the real
- 6:06- probability is 20%,
- 6:08- that's potentially valuable.
- 6:11- But what if they gave you plus 250?
- 6:17- Then I'm out even if I think they
- 6:19- are going to win.
- 6:21- That's the mentality. You can correctly predict the
- 6:24- winner and still
- 6:26- make a bad bet.
- 6:29- Yes, Fabi. So now let's talk about the
- 6:31- Super Bowl futures.
- 6:33- So,
- 6:34- this is probably the ultimate public money market.
- 6:37- Everybody has a team. Everybody has a prediction.
- 6:40- Everybody wants to have that one ticket sitting
- 6:43- there for five months.
- 6:46- And the Starbucks
- 6:47- know that for sure. That's why Super Bowl
- 6:50- futures are fascinating.
- 6:52- You have to ask yourself,
- 6:54- are you betting the team
- 6:56- or are you betting the price of the
- 6:59- team?
- 7:00- For example, if a team is sitting around
- 7:02- plus 600,
- 7:04- that's a very different proposition from getting that
- 7:07- same team
- 7:08- at plus
- 7:09- 1,000 before the market move.
- 7:13- And this is where timing becomes critical because
- 7:16- futures are not just about what you bet.
- 7:20- They are about when you bet it. Exactly,
- 7:23- Bobby. If you believe a team's true price
- 7:26- is going to shorten during training camp, preseason,
- 7:29- or the first few weeks,
- 7:31- you don't necessarily
- 7:33- need to wait until everybody agrees with you.
- 7:36- You want to get ahead of the market.
- 7:38- And that's one of the biggest difference between
- 7:41- a casual bettor and somebody who thinks about
- 7:45- futures seriously.
- 7:46- The casual bettor waits for confirmation. That's what
- 7:49- they do. The sharper bettor tries to anticipate
- 7:53- the correction.
- 7:54- Now let's get into one of my favorite
- 7:56- futures market, win totals.
- 7:59- This is where people get emotional, Fabi. I
- 8:02- love it.
- 8:03- Extremely
- 8:04- emotional.
- 8:06- This team is going twelve five. No way.
- 8:09- They are going a nine. That quarterback, it's
- 8:12- elite. The coach, it's horrible. Terrible.
- 8:15- Everybody has an opinion, pal.
- 8:18- Yes. But the sports book doesn't care about
- 8:20- your opinion. That's the the true. So they
- 8:23- give you a number and that's the number
- 8:25- you have to bet.
- 8:28- Let's say the total is 10.5
- 8:32- wins.
- 8:32- The question isn't,
- 8:35- are they a good team? No. The question
- 8:37- is, do I believe
- 8:40- they win 11
- 8:41- or more
- 8:42- often enough to justifies the prize? Exactly.
- 8:46- And now we start looking at schedule strength,
- 8:50- strength of division,
- 8:51- quarterback stability,
- 8:53- offensive line, for example,
- 8:56- injuries, coaching, scheduled pause, spots, and potentially even
- 9:01- regressions.
- 9:02- That's where Sharp analyzes stars, not I watch
- 9:05- their highlights.
- 9:07- Please don't bet a six month futures ticket
- 9:11- because you watch a team's highlights.
- 9:14- Yes. That's the worst
- 9:16- possible
- 9:17- scouting department.
- 9:19- Now
- 9:20- round two, rapid fire, public or sharp, Pau?
- 9:24- Okay. Let's go. I'm ready. Okay.
- 9:27- Chiefs to win the Super Bowl. Public or
- 9:29- sharp? Public.
- 9:32- Absolutely.
- 9:33- Absolutely.
- 9:34- Huge fan base, huge cutter back, huge media
- 9:38- attention. Everybody knows the narrative. But again,
- 9:41- that doesn't mean it's a bad bet.
- 9:44- It means we need to ask whether the
- 9:46- price is worth it. Now ravens to win
- 9:49- the AFC nor public or sharp? Sharp.
- 9:54- Agree. Agree. Potentially more attractive than simply betting
- 9:58- Baltimore to win the Super Bowl. You can
- 10:00- isolate the market. You can actually want. Now
- 10:04- a team over 11.5
- 10:08- wins. Public or sharp?
- 10:10- Public.
- 10:12- Specifically
- 10:13- specifically,
- 10:14- if it's a popular team, the public loves
- 10:18- overs. Nobody wants to bet on their favorite
- 10:21- team to disappoint.
- 10:23- And that's one important psychological factor, Fabi. If
- 10:26- you are a fan, you naturally want to
- 10:28- believe the the ceiling.
- 10:31- Sharps are much more comfortable betting the floor.
- 10:35- Now,
- 10:36- under 7.5
- 10:38- wins on a team everybody
- 10:41- loves. Public or sharp? Potentially sharp.
- 10:45- That's the interesting one. Yes. Because a betting
- 10:48- and under can feel horrible.
- 10:50- Nobody wants to watch their favorite team lose.
- 10:54- But that's exactly why it can become interesting,
- 10:57- Fabi. If the public is emotionally attached to
- 11:00- the upside,
- 11:01- the under might become the more attractive price.
- 11:05- Yes. Now hear about this. A plus 5,000
- 11:09- Super Bowl long shot.
- 11:12- Public or sharp?
- 11:16- People will call it sharp because it's a
- 11:18- long shot, but that's not necessarily true.
- 11:22- Exactly.
- 11:23- Long shot doesn't equal value.
- 11:27- Yes. A plus 5,000
- 11:29- team might have a 3%
- 11:31- chance of winning. That's not value. The price
- 11:35- implies really two percent. Now, it's interesting.
- 11:39- Yes. That's the entire episode in one sentence.
- 11:43- The bigger the number doesn't actually mean the
- 11:46- better the bet.
- 11:49- Okay. So we are actually looking for futures
- 11:52- value heading into the season. For me, division
- 11:56- winners, Barbie. For you? Same. Yes. Same here
- 11:59- because you're talking a team
- 12:02- and narrowing down exactly what it needs to
- 12:06- accomplish.
- 12:07- Then,
- 12:08- win totals, especially when we believe the public
- 12:11- perception
- 12:12- of a team is different from what the
- 12:14- schedule actually tell us.
- 12:16- And finally,
- 12:18- conference futures. Sometimes the Super Bowl markets, it's
- 12:21- too expensive. But you might still believe a
- 12:24- team has an strong chance of winning its
- 12:27- conference.
- 12:29- And, Fabi, if the price difference is big
- 12:31- enough, that's where we start paying attention.
- 12:36- Alright. Last question. No analyzing. Just tell me
- 12:39- what you're watching.
- 12:41- Best future markets.
- 12:44- Division winners.
- 12:46- Win totals.
- 12:48- I'm gonna say conference futures.
- 12:51- And the most dangerous market?
- 12:54- Super Bowl long shots because everybody thinks they
- 12:57- found the next Cinderella.
- 13:00- And your favorite mistake?
- 13:03- Betting a team because I like them. Alright.
- 13:06- We're not done yet. We've been talking about
- 13:07- public money. We've been talking about share money.
- 13:10- We are talking about prices. We are talking
- 13:12- about future portfolios.
- 13:13- But now I want to flip the whole
- 13:16- thing around because sometimes
- 13:18- the best way to become a better bettor
- 13:20- is learning what not to do.
- 13:23- Absolutely, Barbie. So let's do another game sharp
- 13:27- or public. But this time, we're going through
- 13:30- the biggest mistakes bettors make.
- 13:32- I'll give you the s scenario, you tell
- 13:34- me sharp or public, and if it's either,
- 13:37- we'll call it just bad betting.
- 13:40- Okay. I like that category.
- 13:43- Okay.
- 13:44- Mistake number one, betting your favorite team. You
- 13:48- grew up as a Bills fan.
- 13:51- You love just Allen. You believe that Buffalo
- 13:54- is winning the Super Bowl, you see Buffalo
- 13:57- at plus 1,000, you immediately put money on
- 14:00- them, sharp or public.
- 14:03- Public? Easy? Exactly. And this is one of
- 14:06- the hardest things to eliminate because you're not
- 14:09- evaluating the team anymore. You're emotionally invested.
- 14:13- And the problem gets worse when you start
- 14:16- defending your bed. So you don't want information.
- 14:19- You want confirmation.
- 14:21- So you see a positive article.
- 14:23- See? I told you. You see a negative
- 14:26- injury report? Doesn't matter. That's confirmation bias.
- 14:31- Exactly.
- 14:31- A sharper better should be willing to say,
- 14:35- I love this team but I hate this
- 14:37- price.
- 14:38- That's a massive difference, Bobby. You can love
- 14:40- Buffalo as a football team and still hate
- 14:42- Buffalo at plus 600.
- 14:45- Now, mistake number two, chasing a loss.
- 14:49- I mean, you lose $100
- 14:52- and you say,
- 14:53- okay, I'm getting that back tonight.
- 14:56- Then you put the $300
- 14:58- on the next game
- 14:59- public or sharp.
- 15:01- Public and dangerous.
- 15:03- Exactly. Exactly. Because now you're not betting based
- 15:06- on probability. You're betting based on emotion again.
- 15:11- So your previous loss has absolutely nothing to
- 15:14- do with the probability of your next bet.
- 15:16- If you lost yesterday, the next game doesn't
- 15:19- suddenly become more likely to win.
- 15:21- Yes. But people think people think I need
- 15:24- to make my money back, and suddenly
- 15:27- a $100 loss becomes
- 15:29- a $300
- 15:30- lose, then a $1,000
- 15:33- lose.
- 15:34- And that's not bankroll management, Fabi. That's revenge
- 15:38- betting.
- 15:40- And revenge betting, it's one of the fastest
- 15:42- way to destroy
- 15:44- a bankroll.
- 15:45- Now mistake number three,
- 15:48- purlaying everything.
- 15:50- You have five NFL futures you like. Instead
- 15:55- of betting them individually,
- 15:57- you purlaying
- 15:58- all five, public or sharp.
- 16:01- Public, Fabi.
- 16:03- Wipeout.
- 16:04- Because the payout looks incredible, but that's a
- 16:08- trap. You see? Plus 10,000 and suddenly you
- 16:11- are thinking about what you are going to
- 16:13- buy with the winnings,
- 16:15- but you forget something.
- 16:17- Every additional leg creates another opportunity to lose.
- 16:22- And with futures,
- 16:24- it's even crazier. Imagine putting five teams into
- 16:27- a Super Bowl per leg. You have months
- 16:30- on uncertainty
- 16:31- attached to every single leg.
- 16:34- And one bad season kills the entire ticket.
- 16:37- So you kill
- 16:39- and one bad seasons
- 16:41- kill the entire ticket so you could have
- 16:43- correctly identified four excellent positions and one team
- 16:47- wins everything.
- 16:49- The public ask,
- 16:51- how much can I win?
- 16:54- And the chart ask, how often does this
- 16:57- actually hit. Exactly. Mistake number four, betting without
- 17:02- shopping for the best number.
- 17:04- You find a team at plus 700.
- 17:08- You bet immediately
- 17:09- Then you discover another the sport book had
- 17:12- plus 900.
- 17:14- Sharp or public?
- 17:16- Public.
- 17:17- And painful, pal.
- 17:19- Very painful because you didn't lose money immediately.
- 17:23- You lost value.
- 17:25- Exactly. And this is one of the biggest
- 17:27- mistakes because people don't feel it. You bet
- 17:30- $100.
- 17:31- Nothing looks wrong. But somebody else gets plus
- 17:35- 900.
- 17:36- You're paying for the exact same outcome
- 17:40- with a worse
- 17:41- price.
- 17:42- And over a large sample size that matters
- 17:45- a lot.
- 17:46- So rule number four,
- 17:49- always shop the number not just the spark
- 17:52- book,
- 17:53- the number. Okay? Mistake number five, Thinking a
- 17:57- bigger odds number means value. This one is
- 18:01- a classic.
- 18:02- You can you see a team at plus
- 18:05- 5,000
- 18:06- and you say,
- 18:07- that's insane value.
- 18:10- Sharp or public?
- 18:11- Public, Fabi.
- 18:13- Why?
- 18:14- Because high odds are an automatically
- 18:17- value. Let's say, plus 500
- 18:20- or plus 5,000 implies approximately a 2% probability.
- 18:24- If you think the team has a 1%
- 18:26- chance, that's a terrible
- 18:29- bet even though plus 5,000
- 18:32- looks exciting.
- 18:34- Exactly. But if your model says
- 18:37- 3%,
- 18:38- now we have a conversation.
- 18:41- That's the difference. Value is the number is
- 18:43- bigger than my estimate probability says it should
- 18:46- be.
- 18:48- Pao, that's a sharp thinking. Congratulations.
- 18:51- Mistake number six,
- 18:53- overacting
- 18:54- to one game.
- 18:56- Now week one. Let's say week one. A
- 18:59- team lose 38 to 10. You immediately bet
- 19:02- they're under for the season.
- 19:04- Sharp or public? I'm gonna say public, buddy.
- 19:07- And wipe out. Recentsivize,
- 19:09- one game becomes the entire narrative.
- 19:12- Same thing in reverse. A team wins 45,
- 19:15- 10. Everybody suddenly thinks they are going to
- 19:18- fifteen two.
- 19:19- Exactly.
- 19:20- One game gives you information. Yes. That's true.
- 19:23- But it doesn't necessarily redefine
- 19:25- the entire probability distribution.
- 19:28- So you need context.
- 19:30- Who did they play? Was the quarterback healthy?
- 19:33- Turnovers?
- 19:34- Injuries? Was the score a miss landing?
- 19:37- What was the underlying
- 19:39- performance?
- 19:40- Don't let one Sunday
- 19:43- rewrite your entire pre season model. Now, mistake
- 19:47- number seven,
- 19:48- betting the narrative
- 19:49- instead
- 19:50- of the schedule. Here's another one.
- 19:53- This team is stuck.
- 19:55- You bet the over 11.5
- 19:58- wins, but then you actually look in their
- 20:01- schedule
- 20:02- and they have an absolutely
- 20:04- brutal stretch.
- 20:05- Sharp or public. Public.
- 20:07- Exactly.
- 20:08- And this is particularly dangerous
- 20:11- with wins totals.
- 20:13- Yes, buddy. Because people
- 20:14- evaluate teams instead of seasons.
- 20:17- A team can be excellent and still go
- 20:19- nine eight, for example.
- 20:21- Yes. Exactly. You don't need to know whether
- 20:23- they are good. You need to know whether
- 20:25- they are good enough
- 20:27- to beat the number.
- 20:29- Yes. So that's why schedule analysis matters. Not
- 20:32- just who's the best team
- 20:34- or maybe how many wins does this schedule
- 20:37- realistically
- 20:38- create.
- 20:39- Yes. Mistake number eight, bidding too many correlated
- 20:43- futures.
- 20:44- Let's say you love Baltimore. Okay? You bet
- 20:47- Ravens to win the AFC North, Ravens to
- 20:49- win the AFC,
- 20:50- Ravens to win the Super Bowl, Ravens over
- 20:53- 10.5
- 20:54- wins. Public or sharp?
- 20:56- It sound it sounds sharp, but it might
- 20:59- actually be terrible for the ball management.
- 21:01- Exactly. Because you're basically made one giant Baltimore
- 21:05- bet.
- 21:06- And that's correlation. If Baltimore has a disastrous
- 21:10- season, you don't lose one bet. You could
- 21:13- lose
- 21:13- four. And this is where people confuse having
- 21:16- multiply ticket and diversification.
- 21:19- Four bets aren't diversified
- 21:21- if they are all dependent on the same
- 21:24- outcome.
- 21:25- Exactly. So you need to know what's your
- 21:27- actual exposure is.
- 21:30- Now, mistake number nine,
- 21:32- moving the goals but after you bet. This
- 21:35- one is psychological.
- 21:37- You bet
- 21:38- team a at plus 800.
- 21:42- Two weeks later,
- 21:43- they are plus 500 and you say, see,
- 21:47- I knew they were going to be good
- 21:49- but then they lose the Super Bowl.
- 21:52- Sharp or public?
- 21:53- Can I say neither? But here's the important
- 21:56- part, Fadi. You need to evaluate the decision,
- 21:59- not just the result. Exactly. And if you
- 22:02- got plus 800
- 22:03- and the market eventually moved to plus 500,
- 22:07- that can be evidence
- 22:10- that you got a good number. It doesn't
- 22:12- guarantee you ticket wins. That's why closing line
- 22:16- value matters. A good bet can can lose.
- 22:19- A bad bet can win. And that's one
- 22:21- of the hardest lesson in sports betting.
- 22:24- Stop judging every decision by the final score.
- 22:27- Okay?
- 22:28- There is it. That's today's
- 22:31- lesson.
- 22:32- Don't ask who do I think it's going
- 22:34- to win. Ask
- 22:36- what does the market think
- 22:38- they're worth.
- 22:39- Because public money, Fabi, bets with opinions.
- 22:44- Sharp money bets with numbers.
- 22:47- And futures.
- 22:48- They're all about getting the number right before
- 22:51- everybody else does.
- 22:53- Yeah. So that's it for us, Fabi.
- 22:58- Well, see you next time.
- 23:00- And remember,
- 23:02- la casa no maslana.
- 23:04- We
- 23:06- are waiting for you on YouTube and Instagram,
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- 23:21- to collect all the money you're going to
- 23:23- win in this NFL
- 23:25- season. See you next week. Bye.
- 23:28- Bye.