Excuse my perceived stuffy reply. I did not intend to offend.
You wrote:"If the vegas odd makers are so good at predicting the market direction, why are they taking the odds, instead of playing the market themselves? <g>
I believe,they do play the market and do so in such a fashion that would make many a day trader envious. If you can belive they manage to make a living setting odds and they do,then it would be even easier to assume they can manage to make a living playing the odds on "any" given bet. The stock market is,afterall,one big bet;a book makers paradise. Any MM would tell you more about knowing how to play an issue better than those who trade. Of course sometimes the vig alone is enough to be satisfied with.
Of course,this is all my opinion.
Market Data 
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