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Sportsbooks and Sports Betting | If You are Starting, Read our How-to guide here.
The Betting 101 page from The Quant Edge explains everything you need to know getting started on betting, including mentions of prominent sportsbooks. It covers betting lines, the difference between a straight bet and teaser, parlays, and prop bets. By the time you are finished reading the page, you’ll have an excellent basic overview of online sports betting fundamentals.
Sportsbooks — Having More than One is Essential
Betting line shopping is essential to successful wagering on sports and R.O.I. Not all betting websites will have the same line on a game. Half points cause -10 of juice and to save that money on wagers will help you grow your bankroll. One book may have the Patriots as -7, while another one might offer -6.5. The half point can be the difference between you cashing your ticket and you pushing your bet.
Not only will different sportsbooks have different betting lines on games, but also they will have different wagering odds on games. The standard odds on a bet is -110. With this juice, you need to hit 52.4% to be profitable. Some books may have the line juiced to -115 or even -120 while another site could have the line at -105. What this means is that on one book you may need to risk $120 to win $100 while on another book you only need to risk $105. It is essential for money lines — and getting a team at +220 instead of +200 makes a big difference as well. Better betting odds apply to all wagers beyond straight bets and money lines; and, futures are important as well. Whenever you are going to tie your money up for a long term bet, you want to make sure you maximize your potential return. Often sportsbook differentials in wagering lines are most significant on futures where a team might be 10-1 on one site, but 15-1 on another. That’s a difference of 500 dollars on a one hundred dollar gamble!
Having multiple sportsbooks is critical to your chances of being profitable on long-term sports betting. Of course, another way to be a profitable long-term bettor is to sign up for TQE’s betting apps, where across all NFL, NBA, MLB, UFC and NCAA Basketball games we cover the spread nearly 60% of the time, and it goes up to near 70% with our best bets!
Top sportsbooks lately have been introducing is ‘Daily Odds Boost.’ It gives you a boost in the betting odds on different events across multiple sports. For example, if you wanted to wager that Joel Embiid would score over 20 points on DraftKings, but Sugarhouse has it as an odds boost play, and you get 2-1 instead of even money, it’s essential to go for the better deal — that you see because you’re checking multiple books. As a rule of thumb, we recommend you watch a minimum of three books if you want to be a serious and profitable sports bettor.
Sportsbook Features | Which Ones are Best for You?
While we have established that having multiple sportsbooks is essential, how do you determine which ones are the best? With gambling becoming legal in more U.S. states, it is coming out from the shadows, and more information and perspective are available legitimately. Because each of us is unique, it is vital that you choose the best online sports betting site for you. As a result, we highly recommend that you go for a clean look and feel, outstanding customer service, fair betting odds, and fast payouts. To help, the checklist below covers the major points you need to consider.
- Best Odds
- Deposit Options
- Mobile App
- Easy Withdrawal
- Customer Service
- Daily Odds Boost
- Look and Feel
- Deposit Bonus
- Free Plays
- Promotions and Bonuses
Online Sportsbooks | The Essential Elements
Best Odds – The less juice you need to pay the better. As discussed earlier, recognizing the best value in sports betting lines helps your long-term margins significantly. The difference between -108 and -110 may seem like just two dollars on a single bet, but for a year it can add up to hundreds or even thousands of dollars. More sportsbooks are lowering the rake to compete and gain market share. -108 and -105 lines can be found on sportsbooks such as Sugarhouse, and you should take advantage of them as frequently as possible.
Deposit Options – Gambling is legal, but many credit card companies will block deposits unless you call to the let them know what you are going to do. With DraftKings well established in the United States, credit card transactions are the smoothest of all the available sportsbooks. Choose betting sites with secure, seamless deposits using PayPal or E-Wallets.
Mobile App – A good sportsbook app is an essential key for customer experience. With so much of sports wagering done on the go, you want an easy-to-use betting app. You need to be able to find the games you want with ease and make a wager quickly. With laws very strict about location, the ease of a sportsbook app has in finding your location is very important. DraftKings consistently finds users rapidly and has you logged in and ready to bet in seconds.
Easy Withdrawal – There is nothing worse than hitting a big parlay and needing to wait days to get your money. Having multiple, easy ways to move money out quickly is crucial for a sportsbook. Caesars offers easy PayPal withdrawals while Sugarhouse connects to your bank account and has direct deposits.
Customer Service – Questions will arise, and you will want to talk to someone. It could be a simple question on a deposit bonus or a more serious inquiry if something goes wrong. Online sports betting can involve significant sums of money, and you want to be able to reach a live agent if you have an issue, not wait a day for a response on email. Caesars and Sugarhouse have live chat pop-ups available 24 hours a day, and DraftKings has a phone number you can call.
Daily Odds Boost – The more options, the better! Daily Odds Boosts can be simple or extreme. Some sportsbooks will increase odds from +120 to +140, but other times they will change something from +200 to +500 so that you can win big money. Betting websites often set limits on these of between 50 and 100 dollars. Sugarhouse sends push notifications when it releases odds boosts, which is an excellent feature — and therefore, you never miss out on the best odds.
Look and Feel – The ability to navigate a website and mobile sports betting app is vital for the user experience of a sportsbook. No one wants to go searching for the wager they want to make, struggle to find a game or player props. BetStars offers an outstanding layout that is easy to navigate. The sports, wagering options, and live betting all are there and can be found in seconds.
Deposit Bonus – Good Sportsbooks provide new customers with incentives to join. Understanding what the bonuses mean and figuring out which one is best for you is essential. The two most common forms of deposit bonuses are free bets and deposit match. A free wager covers the amount of your first bet on the website and typically is capped at between 300 and 500 dollars. It is important to note, and you can only use that bet once. For example, if you have a $500 free bet from BetStars, you cannot make five $100 wagers, you can only make one $500 free bet. So make sure your first wager is a big one to take maximum advantage of the free offer. Save it for a for a five-unit gamble, or TQE’s best bet of the night! A deposit match is just that, if you use Sugarhouse’s $250 deposit match and deposit $250, your account will have $500 to start. Make sure you read terms and conditions carefully. Deposit matches often come with rollover rates, and you will need to make multiple bets before you can withdraw the money.
Free Plays – Sports betting sites will offer free plays throughout the year. Often on holidays or before big games, sportsbooks will reward customers with a free bet. The more free wagers provided, the easier it is to grow your bankroll. Keep in mind, when you get a free bet, you only keep the winnings.
Promotions and Bonuses – Bonuses extend beyond a first deposit bonus. If you fall down on your luck and need to reload your account, make sure to reach out to customer service at your sportsbooks. Often, they will provide reload bonuses. Books also run promotions and reward customer loyalty. Sugarhouse has a customer loyalty program that allows you to rack up points as you bet and whenever you hit certain milestones you get free plays or scratch-off cards.
Now that you know what to look for in online sports betting websites check out our Sportsbook reviews on each book to pick which ones are right for you.