Humans are always looking to gain an edge, no matter who it is against. With the margin between winning and losing so small in the sports betting industry, sometimes it is the smallest edge that will make a difference. Did you know bettors need to win 52.4% of their bets just to break even, and a winning percentage of 55% would provide big profits, of course depending on wager amounts? Finding what works for you to gain an edge is key, but smart bettors use 2 or 3 sportsbooks to find an instant edge.
Shopping for Lines and Comparing Odds
If there is one reason for you to use multiple sportsbooks is the ability for line shopping. If you have read any of my stuff before, I recommend creating your own power ranking system in order to properly handicap games. Doing so before looking at your sportsbook’s lines can give you a better perspective on how you truly feel a game with play out.
How to Read Sports Odds – basic understanding of how to read sports betting odds
By creating your own lines, shopping around various sportsbooks for the line that best suits your bet will often times become the difference between winning and losing. Don’t kid yourself and think that every sportsbook offers the same lines on every game. I used to work for a pick service, and the software we used dragged lines from over 25 sportsbooks. The variation surprised me.
There are many reasons why sportsbooks have different lines, but the most common are the demographic of their players and access to competitive lines. I know quite a few bookies, and for this discussion we are going to talk about two, one from Boston and one from New York.
It is no secret that a lot of sports fans are homers, and believe in their team to the bitter end. I admire this, but when it comes to betting, it may not be the best strategy. What it causes though is the NY bookie to shade his Giant lines, while the Boston bookie always shades his Patriot lines. If you are looking to bet against either of these teams, there is a good chance you will find a better line with either of these.
Not all sportsbooks are the same size, whether it’s employees or their operating budget. Whatever the reason, some books just do not have the personnel to be able to properly monitor lines, and more importantly get them moved.
How You Can Become a Smarter Bettor
Line shopping isn’t limited to point spreads either, so if you are someone that likes to bet moneylines, shopping around is a must. You regularly see sportsbooks with different moneyline odds, so be sure to see where your best value lies.
Although it does not happen often to the larger online sportsbooks because they have their own backup contingency plan, when it does happen it is very frustrating. Having 2 or 3 sportsbooks will eliminate this issue. After trying to login into one account a couple times just to receive errors as start time quickly creeps up, you simply try your next book, and get your bet in there.
It may not seem like a big deal, but if this has ever happened to you, you know the feeling. Even if it only happens two or three times a year, having a betting backup in the form of multiple sportsbooks will eliminate this issue all together.
Bonuses and Contests
It is no secret that the online sports betting industry is highly competitive and sportsbooks get very inventive when it comes to ways to give back to their players. Bonuses and contests will help you stretch your betting dollar, so naturally using more sportsbooks and getting more bonuses and contests if a big plus.
There are different rules, regulations and rollovers for every book, and by knowing these, you can cater to your own needs when depositing, withdrawing, etc. By getting the most out of each deposit will give you one more little edge that you are always searching for.
What is better than getting free entry into a Last Man Standing pool? How about getting free entry into three Last Man Standing pools. In the end, by using bonuses and contests to your advantage, it can potentially increase your bottom-line and turn a losing season into a winning one.
Other advantages include middling opportunities, more betting options and post times, but line shopping, having a proper backup and using bonuses and contests to get the most of your betting budget are most important. I recommend using three sites to give you a really good feel for the different lines, because more can be too confusing, while two is not quite enough variety.
By putting a couple more sportsbooks in your stable will undoubtedly increase your profitability. Deposit 33% of your betting budget into each account, using their extras to get the most out of them. Getting a point here or a half point there, or getting a moneyline with better odds is the easiest way to make you a smarter bettor.