re: Do the handicappers have it right?

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True - BUT the result of that process is a fair gamble for bettors on both sides - the most fair predictor of the games outcome ever devised by man or computer.

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Not really. Retrospectively some lines turn out to be accurate predictors, others are far from it. They're set according to public perception and adjusted according to which side is getting the most action. It's as simple as that.

But if you wanna think of them as "fair predictors" then by all means, be my guest.