The 50/50 spread needed is needed for payout, which takes odds into account
A $100 bet on UMBC paid $2,500. For each person who bets on UMBC, the bookie needs about 25 to bet on UVA.
To simplify, assume there are 200 bettors and 100 bet on each team, or 50/50. The bookie took in $20,000 and paid out $250,000 and lost his ass.
To get to the 50/50 payout, the bookie wants 192 bettors to place bets on UVA and only 8 to place a $100 bet on UMBC.
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In response to this post by Atlee Hokie)
Posted: 03/18/2018 at 11:15AM