They should make a movie on this subject in which, in the end, one singular man, let's make him the richest man on the planet, is actually in control of EVERY sporting event and controls the billions of dollars of $$$ wagered.
As for reality, still not buying any of this. Vegas makes money when they have as close to a 50/50 split as possible. Period.
It is true that Vegas makes money when it is a 50/50 (or close to) split, however, they also make money because the vast (and I mean VAST) majority of people who wager lose and lose non-stop