How to Choose an Online Sportsbook
When it comes to online sportsbooks you can choose from many. If you are a newcomer you might have a hard time choosing the right one. The good news is that lots of them are very reputable. Some have been in business for over 8 to 15 years and on the net for over 4 years, with a solid payout history.
Below are the best ways to choose an online sportsbook
1. How Long Have They Been In Business?
Of course a brand new company could be a great company, but why take the unnecessary risk when there are so many established sportsbooks out there? The company should be in business for at least three years. Four or more is even better.
2. Word Of Mouth
Asking someone whoâ€™s wagered with a particular sportsbook is the best way to find out if theyâ€™re any good. Payout fees are basically the same across the board. How fast you get the money may vary. The only way you can really find out how long it takes is to ask someone whoâ€™s previously wagered with them. Or make a small deposit, win, then request a payout.
Why not get as much free money as you can? If our tips #1 and #2 check out fine, the only other thing is to get a solid bonus. Personally, I wouldnâ€™t send money to ANY SPORTSBOOK that isnâ€™t giving me a bonus. There are WAY too many reputable sportsbooks that are giving out bonuses and it makes no sense not to get the extra money.
Follow our three easy steps and youâ€™ll get the most out of online sports wagering.
BETTING WITH MORE THAN ONE SPORTSBOOK
To make money betting on sports, you must to do three things: first, find your game; two, look around and get the best value for that game; three, make sure you follow a solid money management system. Most people think of the first and the third. But not enough people “shop” for the best value for their money.
Here are six reasons why you MUST have more than one sportsbook account:
Value – You need to shop multiple books to find the line you need, and the only way you can do that is to have accounts open with various sportsbooks. Having more than one ‘out’ helps to improve the chances of finding variances in a particular line.
For example if you know that you are looking to bet on the Red Sox and you can get them 5 or 10 cents cheaper with one book over the other, then you take the line that provides you with greater value. It might just be half a point on a game, but getting the line you want in terms of both the spread and the odds will make you more money over time. No question.
Also, any sportsbook betting site that allow the buying or even selling of points, or give you better sports betting odds on parlays and teasers also should be considered in the sports bettor’s stable.
Diversification – Just as in the investment world, you need to diversify and not put all your eggs in one basket. In the past few years, various sportsbooks have gone under, and taken many a gamblers’ money with them. Some of these ‘books you could have predicted, but other such as Aces Gold caught most off guard. Always choose your sportsbooks wisely. But if you have $10,000 in play, it’s better to have $2,000 with five books than all your money with one, just in case that one goes under. It’s better to lose just $2k than $10k.
Bonuses – Every sportsbook offers various types of bonuses, depending on the type of gambler they are looking to attract. All sportsbooks offer the same signup bonuses, with the focus on the initial deposit varying from 10% – 20%. But it’s the ongoing “retention” bonuses that differentiate one sportsbook from another. Some offer little or no “re-up” deposit bonuses, but offer a Cash Back from losses bonus. Others have great deposit bonuses during key times throughout the year. You need to find out what is important to you, and then match that need with the sportsbook that will fulfill it.
Product Variety – Some books specialize in providing a type of bet on various sports or sporting events, depending on the strength of the software and the expertise of that sportsbook’s bookmaker. Again, you need to shop around and find out what sportsbooks offer what type of bets on what sports, and the type of lines they run (especially for hockey and baseball).
Phone vs Internet – Some online sportsbooks are better at running its business over the phone, while others that have very good software, and loads of servers do a better job taking bets via the Internet. However, the Internet focused books usually have lower limits in place than those taking bets by phone. Again, you need to find out whether or not the limits in place by a specific online sportsbook fits your money management system.
Cut Down on Account Limits or Closures – You can do this by setting up accounts with multiple sportsbooks. When you want to play a bet of $5,000 for example, you might want to play $1,000 at five different books. This helps to keep a low profile for yourself, as all sportsbooks have key indicators that throw up red flags for weeding out “wise guys” or “sharpies.” When that happens, you get the “VIP” treatment by having your limits reduced, access to certain sports limited, or simply having your account closed. But by winning at multiple books, you can more easily stay under the radar.
So the message is clear: you must have at least three to four sportsbook accounts to help ensure making money over the long haul, and lessening your risk overall.