How to Choose an Online Sportsbook

The gaming industry has seen some significant growth in the last decade and it has shifted strongly to the internet. The number of options available for consumers is vast and we are actually facing a different kind of problem these days; which of the numerous betting sites to choose from?

There are many things where a consumer can go wrong when choosing an online sportsbook. Let’s take a look at which aspects should be taken into account and how to make sure that your money and personal information are safe and that you get a high-quality betting experience.

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Safety & licenses

The easiest way to ensure that you are playing on a safe and trustworthy betting site is to check the license. Many countries or states (In the US) have their own regulatory body who grants licenses for operators. In order to obtain the license, the operator has to meet the requirements to ensure the safety and fair treatment of players.

By playing on a licensed sportsbook, you can be sure that your personal information and data is kept safe, payments are secured and your funds are protected.

As a player you also have the regulatory body behind you in case of any bigger issue or argument with the operator. Issues with payments or problems in getting your winnings, you can always turn to the licensing authority and get their help to solve the problem. Playing on an unlicensed operator you don’t get this security behind you.

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Some of the main licensing authorities globally are:

  • State specific licensors in the US
  • The UK Gambling Commission
  • Malta Gaming Authority
  • Ontario Gaming Commission

You can check the license from the very bottom of the sportsbook’s website. The footer of the site should always have the logo of the licensing body and the license number. If you can’t find it, alarm bells should start ringing. You want to stay away from those sites that do not have the license information displayed.

Odds & markets

After safety, the most important thing a sports bettor has to look at are the odds. For recreational bettors who bet for fun, the slight differences in odds don’t mean much, but for those bettors who seek to make maximum profit, the odds mean everything.

Over time, the small differences accumulate and can mean a whole lot in your bankroll. That’s why it’s important to bet with the best possible odds. The effect can be seen well with the help of little mathematics.

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Let’s compare two bettors, who bet on the same games but with slightly different odds. Let’s assume a realistic win percentage of 60% for both bettors out of 100 bets.

Both bettors place stakes of 100 units per each bet. Player A has decimal odds 1.91 and Player B has 1.85.

Player A:

Total stakes 100 x 100 = 10,000

  • Winnings 60 x 100 x 1.91 = 11,460
  • Losses 40 x 100 = 4,000
  • Returns in total = 11,460
  • Net profit = 1,460

Player B:

Total stakes 100 x 100 = 10,000

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  • Winnings 60 x 100 x 1.85 = 11,100
  • Losses 40 x 100 = 4,000
  • Returns in total = 11,100
  • Net profit = 1,100

We can see that a small difference of just 0.06 in the odds can have an effect of hundreds even with a sample size of only 100 bets and 60% win rate. Player A won 360 units more by betting on same games but only on a different site with slightly better odds. Risk for both bettors was the same, but the outcome very different.

Compare different sites when you choose an online sportsbook

To find the best odds, it means you need to open accounts on many different betting sites and compare odds between them. Many players couldn’t bother with the extra work, but it pays off for those who do.

The situation is slightly different in each country. For example, in the US, where states have only now started to legalize online gambling, the amount of licensed betting sites is still pretty modest. You have fewer options at the moment, but it’s still very much recommended to go through the most of them to find the best value. You can be sure though that the number of sportsbooks will grow in the future.

In the UK the situation is different, where the licensing system has been in place for a long time. There are dozens if not hundreds of different online betting sites to choose from.

You will be surprised how different the odds may be for the same exact bets on different betting sites. By comparing different ones, you might be able to find so called opinionated lines that are usually very favorable. Opinionated line means, when the sportsbook takes a position on a particular line against other sportsbooks consensus. This is where the best value is found.

In the UK, the market is also really big and there are plenty of different types of bettors. All these people must be offered exactly the kind of betting they are looking for. Certain sites offer more bonus money and promotions, for example, which affects the overall return rate and odds of that site.

By comparing, you can quite easily find the sites that focus on offering good and high odds.

Betting markets

Along with odds, the betting selection might differ quite remarkably between sites. For some bettors, the most profit is made from a very specific type of bets or certain sports. For those, there might only be a few sites available that offer those bets. Good thing is that these days quite many online betting sites have a decent offering of different markets.

Make sure you dig deeper into the betting section when selection a bookie, as you might find way more alternatives from some sites than others. Many online sportsbooks are also specialized and might offer significantly better odds for one particular sport and it’s very much worth finding it.

User experience

It goes without saying that no one likes to bet on a site that is clunky, difficult to use or inconvenient. User experience is of course subjective, but the sites with a simple user interface, elegant and attractive graphics, quality customer service are the ones where to get the best experience.

Quite a few betting sites use the same platform and thus have a very similar user experience. Many betting sites rely on a 3rd party platform provider. If the platform is good, you can get a guaranteed and good service. This applies to ease of use as well as customer service and responsible gaming tools.

Some established brands do all these things in-house and can differentiate themselves, but from a player’s perspective it doesn’t matter who provides the service, as long as it works.

Payment methods

We consider the payment methods to be a big part of user experience. All bettors have their preferred methods they want to use for deposits and withdrawals.

The variation is great in this matter as well, as many sites offer a wide range of different payment options without any extra fees, while elsewhere there may be only a few different options. The best sportsbooks have taken care of this feature and provides enough methods to choose from, without extra fees.

Consider the bonuses & promotions available when you choose an online sportsbook

Free bets and other types of bonuses are very popular these days and almost every single sportsbook offer them for players. These are often throw-in offers for new customers, which are definitely worth taking advantage of. You do have to be careful with the terms and conditions though to dodge any unpleasant surprises.

Betting sites might have a few different types of promotions available. The most popular types are:

  • Free bets
  • Deposit match bonuses
  • Enhanced odds

The most crucial things you need to check before blindly taking any offer, is to understand the wagering requirements. Betting sites of course can’t hand out totally free money, so they have set some terms and conditions for the sum you get for free. Usually this is a rollover requirement, which means you have to roll the sum over in different games or bets a certain number of times before the bonus is converted to real withdrawable money.

For free bets, this is usually quite low which is not a problem, but for deposit match bonuses it varies a lot between different sites. A deposit bonus means, that the site will match your bonus with a certain percentage relative to your deposit. Normal deposit bonus gets you usually something between 50% – 200%.

A good wagering requirement for a match bonus can be considered 3-6x the bonus amount. More than that, it’s getting a lot harder before you can potentially withdraw the money. Many sites have 10x wagering requirement or even more, which makes it a lot harder to fulfill.

Also read the small print, as there might be other significant T&Cs, for example:

  • Minimum odds
  • Restricted markets
  • Restricted stake
  • Accumulator only

Summary

In general, finding a good betting site and online sportsbook today is not very difficult, as the quality has improved a lot over the years and sites that offer bad service to players just won’t survive in the market. However, there are a few pitfalls that you can still get into and we hope this article will help you make a better decision choosing an online sportsbook.

To wrap it up for you, here are the three most important things to check:

  • Make sure the betting site has a valid gaming license
  • Compare different licensed bookies to find the best odds
  • Use the best promotions with the easiest terms and conditions