The goal isn’t for the money to equal out on both teams. If they did that, they would have less total bets and make less money, because people like betting on favorites. The goal is to make as much money as possible by having as many people as possible bet on a slightly inflated favorite.

No. Sportsbooks inflate the line and odds for favorites and popular teams, then rely on those teams not covering the inflated line and losing more than the odds would suggest.