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The Pirates will pay between $13-14 million of the $33 million remaining on Burnett's contract, the Daily News reported Friday.
The Yankees signed Burnett after the 2008 season, around the same time they also landed CC Sabathia.
Burnett, 35, owns a career record of 121-111 with a 4.10 earned-run average in 314 games -- 309 starts -- for the Marlins, Blue Jays and Yankees. He threw a no-hitter while with Florida on May 12, 2001.
Moreno, 24, went 2-4 with five saves and a 3.63 ERA in 41 games between Class- A and Double-A ball last season. Cayones, 20, hit .228 with 12 RBI in 38 total games with State College and the GCL Pirates in 2011.
The 39-year-old Ibanez will fill a need for a lefty-swinging designated hitter and will add depth to the team's outfield that will be manned by Brett Gardner, Curtis Granderson and Nick Swisher.
Ibanez appeared in 144 games last season, including 134 in left field, for the Phillies and batted .245 with 20 homers and 84 runs batted in. He spent three seasons in Philadelphia, driving in at least 80 runs each year.
In 1,817 games over 16 seasons with Seattle, Kansas City and Philadelphia, Ibanez has 252 homers, 1,054 runs batted in and a .280 batting average. He was an All-Star for the first and only time with the Phillies in 2009.
The Brewers also signed pitcher Mark Rogers and catcher Martin Maldonado.
Ramirez played just five games with Tampa Bay last April and suddenly announced his retirement after a second violation of the league's Joint Drug Prevention and Treatment Program. The penalty would have included a 100-game suspension, but he instead chose to hang up his cleats.
Ramirez, a 12-time All-Star who will turn 40 years old on May 30, previously served a 50-game ban in 2009 as a member of the Dodgers for his first drug violation.
In 19 seasons with the Indians, Red Sox, Dodgers, White Sox and Rays, Ramirez has batted .312 with 555 home runs and 1,831 RBI. He won World Series titles with Boston in 2004 and 2007, capturing MVP honors in the 2004 sweep of St. Louis.
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Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process. Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.
“You either have a passion for it or you don’t,” Seba said.
“The #1 thing for us is to make a line for each game that creates good two-way action. We do this by drawing from past experiences and applying them to current situations. People think it’s much more complicated, but it’s not. “Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10).
Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a "preliminary" pointspread on an upcoming game. The power ratings are adjusted after each game a team plays. Examples of non-game factors that would require an adjustment to a team's power rating are key player injuries and player trades.
Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team's most recent games played and previous games played against that opponent. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.Since the oddsmaker’s ultimate goal is equally dividing the sports betting action, public perception and sportsbook betting patterns must be taken into account. For example, the public might have heavy betting interest week after week on a popular college football betting team such as USC. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.
The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line "feels right." This is where common sense and past experience with how games are bet enters into the picture.A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.
Experts working for the individual books having a strong opinion on the game
Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action.
Once betting begins, sportsbooks can adjust the line at any time. In doing so they attempt to make more attractive the team that is getting less action. By moving the line, sportsbooks can influence how the public bets on a particular game.For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite.
Moving the line is the oddsmaker's effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Oddsmakers have to determine if any changes are necessary and send out an "adjusted line."“The main objective is that our clients get equal action on both sides,” Seba said. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). If we’ve done that, we’ve done our job.”
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