Video Summary

In the world of sports betting, there's a crucial concept to understand: public money versus sharp money. Public money refers to the side of an event that receives the majority of bets, often made by casual bettors. However, sharp money, also known as “wise guy” or “pro” money, is made by expert bettors who know where to find an edge that the public doesn't.

According to data from 2017 to 2020, underdogs covered the spread 63.8% of the time when the favorite received more than 60% of the bets. This shows that public money can be misleading. Only about 2% of bettors are considered professionals, leaving the rest as recreational gamblers.

To find sharp money, one can look for movement in the market. Steam, also known as “line movement,” occurs when the entire market moves the line in response to a sudden influx of smart money. Reverse line movement happens when the line moves against the side receiving more action, indicating that sharp money is coming in. A line freeze happens when the line doesn't budge despite heavy betting on one side, suggesting that sharp money is being placed on the other side.

By understanding public money versus sharp money, bettors can gain an edge in their wagers. Sharp money often leads to value, as the public is often wrong. By learning from sharp bettors, individuals can make more informed decisions and potentially increase their chances of success in the world of sports betting.