Can someone explain how oddmakers set the line?

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Jan 8, 2016
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Gracie +150 to Ken Shamrock -190.

The line is now -103 Royce to -105 Ken Shamrock. Is the purpose to give a very good line to Royce(fav) so people will bet a lot more for Royce (driving his odds down to -110 quick), also as fast driving up Ken's odd to nearly even with Royce giving more value on Shamrock with his odds getting better?

Does that method help even out amount bet on each side?

Why not make the line start -110 to -110?
 

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