Why sharps are called sharps

By Jeff Fogle  (VSiN.com) 

It’s time to refresh everyone’s memory about what the term “sharp” means in sports betting. Too many media newcomers are muddling the definition because of their own agendas.

Though, the term is commonly used in everyday vernacular to mean “smart,” in this industry it refers more specifically to the professional bettors who “sharpen” the line with their bets.

Sharps hit soft openers as soon as numbers go up on the board. Oddsmakers react quickly to this early informed money.

Sharps then help counteract public exuberance (usually for favorites) by buying back against big line moves late in the process.

Maybe a line opens with the favorite at -5.5.

Sharps made the game -7 themselves, so they hit the opener hard until sports books rise to -6, -6.5, and finally -7. There’s no edge on the seven, so sharps stop betting then.

But if the public likes that favorite, maybe the line rises even more to -7.5 or -8 in the hours before kickoff. Sharps once again have value compared to their grading, but this time it’s on the underdog. They jump in hard again, and the line drops to -7 by kickoff.

Sharps have positive expectation bets on the favorite at -5.5, - 6, and -6.5, but also on the underdog at 8.

If you’re one of the relatively few bettors moving the line like that with your money, then you’re a sharp. Or, if you’re following that type of strategy in general for smaller stakes, you’re at least “betting like a sharp.”

Media pundits aren’t sharps. Many are sharp dressers. Maybe they write with sharp pencils. But, they’re not moving lines with their money. Many have made it clear they don’t even understand that “the sharp side” is a combination of team and price…not just team. They’ll ask a guest what “the sharp side” is, or just come out and tell you that a team is “the sharp side” without mentioning prices.

In our example above, the favorite was the sharp side at - 5.5, but the dog was the sharp side at 8. As VSiN’s Vinny Magliulo and others have mentioned repeatedly on our shows, sharps bet numbers not teams.

Be wary of mainstream media reporters telling you “who the sharps like” without mentioning point spreads. Be wary of pundits referring to “the so-called sharps” when giving you their supposedly superior picks. Actual sharps aren’t “so-called,” they’re real people who bet the line into the right place.

And actual sharps don’t have picks…they have positions at favorable prices.

Too many media personalities are brands trying to sell themselves. You don’t have to buy what they’re selling. Spot their tells by noticing when they mis-use betting terms, when they don’t properly explain investment distribution in a big game, or when they try to hype their own expertise at the expense of real market influencers.

Betting smart means thinking like a sharp, not like a pundit.

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