while bloomberg is off pretty bad this year look at the last 3 years hes ok.
you have to understand they are not picking who will win. they are picking agianst the spread. So if they go 50-50 they didn't lose any money if say they where gamblin ( of course you lose money with the fees but thats besides the point)
so if you have 30 games over 50% your winning quite a bit of money and if these guys get over 50% most of the time they should be considered experts but as a gambler I know that is hard to do. There picking againts the spread not against the winning team