Value??? What's that?

Raining again in Hobart, so thought I'd post a snippet I read while researching the NFL playoffs last week. Although this was written with USA sports markets in mind, it equally applies to any binary market, and by extension all sports markets. I can't remember the site I read it on so can't give credit. Apologies if the author reads it and is offended.

"Odds makers will tell you their job is not to predict an event's outcome but, rather divide the public as to who it thinks will win. "When the oddsmakers have set a point spread properly," said Howard Martin, a noted expert on how odds are calculated, "there will be an equal number of people betting each side of the line." "