The book says that when the original probability is close to 50-50 -
once an NBA total moves 4 points, the chances of the winning is cut into HALF. The odds now become 75-25. Some people think it becomes 70-30, but we can argue that later ...
Over 194.5 may still win, but that has nothing to do with the probability of winning.
So if the chances of winning the over 190.5 was 70%, the chances of winning the over 194.5 is now 35% (not exactly that but lets use 35%) and the odds for 196.5 is even lower. Now if you want to middle, the chances of a middling with 194.5 is now 42%, so that isn't too shabby either considering payout for the middle and the odds that you're playing it at.
Now would under 196.5 be the right side? It all depends on WHERE the 50% number was. I just guessed that over 190.5 was 70% - it could be 90% - who knows? If it was
PROPER NUMBER was 195 and the books made a mistake, the chances of winning with under 196.5 is close to 62%, so why not play it at 52%-53% risk? If the proper number is actually 197, then 196.5 still holds no value. It all depends on where the REAL number lies. Figure that out and we're in business.
Example: There are 10 raffle tickets sold at $1 each. There is a jackpot of $12 if you win. You SHOULD buy a ticket. You have only a 10% chance of winning, so you probably won't win - but winning is not what you should focus on. The problem is in finding out how many tickets were sold
The VALUE is what will produce a winner in the long-run.