Many folks had Broncos -6.5 and Steelers +7.5 and that tiny middle murdered the books.
Let's say you are betting $110/100 a game and you take +2.5 at +105 and you lose versus taking +3 -110 and it lands and it's a push.
so now you are down -$100 whereas you'd be sitting right at 0.
The question is now, how many +2.5 at +105 do you have to win to make up that lost full unit you are down? Looks to be 20 winning bets at +05 each time, no?
The value lost from +3 to +2.5 vastly outweighs the gain of a nickel + EV at +2.5 on a football game, let alone a conference championship when both teams will be giving full effort.
I have no problem with folks buying the hook at +3.5 or taking 1/4, 1/3, 1/2 your wager on the ML. That makes total sense. What doesn't make any logical sense to me is bypassing +3 -110 for +2.5 +105.