We heard lots more about “customer-friendly results” as more Q4 earnings results rolled in over the last week, as sportsbooks laid out the impact of an NFL season in which favorites covered more frequently than they had in 19 years.

The house always wins. I suspect it still will shake out that way. But a bit of me wonders whether this is entirely a product of favorites winning, or whether it will take a little while for the machines to learn how the U.S. consumer will respond to things like in-play line and odds movement.

Who’s really the favorite when that flips four times in the first quarter? And how will that play out during March Madness, when a team might go from -4 to +3 in the first five minutes of a game?