Line Shopping - Why Having Multiple Sportsbook Accounts Helps You To WinSep 6, 2021 at 1:31AM
If you are in a US state with regulated sports betting, then there are benefits to having numerous sportsbook accounts.
The first reason is that nearly all sportsbooks have different odds for a given game. In the example below from OddsJam, we can see real-time moneyline odds in the Atlanta Braves vs. Colorado Rockies game.
Caesars sportsbook is offering the best value on the Rockies (+143 odds). This is highlighted in yellow on the odds screen. The best value on the Braves, on the other hand, is on Wynn, which is offering -149 odds.
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If you bet $100 on the Rockies on Caesars sportsbook and they win, then you will profit $143. However, if you place that $100 wager on Fox Bet, which is offering +130 odds on the Rockies, then you’d only profit $130 if the Rockies win. It is clearly optimal to place a wager on the Rockies on Caesars sportsbook for this very reason. You make more money when you win.
The concept described above is referred to as line shopping. You are essentially comparing prices at different sportsbooks, and then placing your wager on the sportsbook with the best odds. OddsJam displays odds from all major US sportsbooks, including BetMGM and Caesars.
Line shopping will put a lot of money in your pocket as a sports bettor. Although the difference between +130 odds and +143 odds may seem small, this adds up to a lot of money in the long run. Using the example above, with every $100 you bet, you profit $13 more if the Rockies win and your bet is placed on Caesars.
Why Sportsbooks have Different Odds
Many sports bettors are curious why sportsbooks have different lines. It is strange that you can navigate from Caesars to Fox Bet and get drastically different odds on a given matchup.
The reason is that sportsbooks want to have different odds from one another. Just think about. If all sportsbooks had the exact same odds, then we wouldn’t need hundreds of sportsbooks in the global sports betting ecosystem. We’d need one sportsbook. However, because sportsbook odds are unique, you need multiple sportsbook accounts as a sports bettor in the United States. One account doesn’t do the trick. New Jersey has 10+ regulated online sportsbooks, and they all have different lines. For this reason, there are many sports bettors in New Jersey who have multiple bookmaker accounts and split wagering dollars across accounts. You never know when a great line is going to pop up on a sportsbook, so you have to get them all.
How to Use Line Shopping to Make More Money Sports Betting
We now know that sportsbooks have different odds on given wagers. Thus, if you are in a state with regulated sports betting, the first key to successful betting is signing up for multiple bookmaker accounts. If you are in New Jersey, then you should sign up for DraftKings, Fanduel, Caesars, Fox Bet, etc. The more books that you have in your toolkit, the more books you can browse odds at. You never know when the best odds are going to be on a sportsbook, so get as many as you can. Line shopping is the #1 principle to successful, math-based sports betting.
Next, you need to line shop for every wager you place. It doesn’t matter if you’re betting on an MLB player prop, such as “Player to Hit a Home Run,” or a college football point spread (example from Northwestern vs Michigan State below). You always need to be getting the best possible odds, or price, on your wager. Line shopping is a critical concept that can be applied to any sport. It doesn’t matter whether you are betting on UFC, college football, or NBA. Line shopping and getting the best odds just makes sense.
This article is contributed by OddsJam, a platform with odds & tools for sharp bettors.
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