What is it supposed to be telling us? I'm not a gambler so idk what all of this means
It means that the sharps/algorithms are heavily favoring Nebraska.
With all the public money and bets pouring in on CU, the line should be moving toward Colorado. However, the line has stayed the same, even without even money on each side of the line. Vegas typically will want the line to move in order to have about 50/50 money on each side of the line. They then would make their money on the "juice". The juice is when you would need to bet $110 to win $100 (if the line is -110). In this game, though, they are not moving the line and are leaving themselves open to huge liability because all the money is on one side.
Since they are not moving the line, the sportsbooks must be expecting a lot of big money to come in on Nebraska closer to game day. That is also when the limits on how much is able to be bet on each game is raised (so say right now the limit is $1000 on the spread and $500 on the moneyline --- just examples, no clue what they actually are --- but come game day, those limits could be raised to like $5000 on the spread and $2500 on the moneyline --- again just examples).
One of the articles posted early in this thread basically said that Circa (?) tried to move the line to CU -5, but they were hit heavily with Nebraska bets/money. That basically meant that the sharps/algos were going to bet Nebraska hard if they moved the line that high. That is why they moved it to the 2.5-3.5 range and have held it there even with all the bets/money from the public coming in on CU.
The sharps/algos really seem to like Nebraska (or at least hate CU) in this game.
***Edit*** the crazy part is that if the books are wrong about where the sharp/algo money will come this weekend, they could be set to lose a ton of money. Or, if the sharps/algos instead bet CU and push even more money on CU, then they are fucked if CU does win and cover. If NU wins/covers, then in that case they would make a ton of money.