To make money betting on sports, you must 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:
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. Further, having more than one ‘out’ helps to improve your chances of finding variances in a particular line you are looking to wager on.
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 sportsbooks that allow the buying or even selling of points, or give you better odds on parlays and teasers also should be considered in the sports bettor’s stable.
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 others may catch you 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.
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.
4) 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).
5) Phone vs Internet
Some sportsbooks are better at running their 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 sportsbook fits your money management system.
6) Cut Down 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.