PointsBet January 2023 Bonus
January 9, 2023
A Bad Beat Isn’t Always a Bad Beat. Deal With It
January 10, 2023
When gamblers are working on NFL ATS power rankings, they often notice a spread where the pricing is wildly different. When they do, they often realize they have only one sportsbook account. So they don’t shop around for the best prices. Instead, they just bet whatever price was available on the sportsbook used. They quickly discover how much harder it would be to profit from sports betting. Thus, we will explain why this is and why you need multiple sportsbook accounts.
Here’s a deeper look at the benefit of having several sports betting sites at your disposal. And first, we’ll illustrate the importance of line shopping via one of the more notable NFL player futures.
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A perfect example of why you should price shop was Jared Goff’s odds in the futures market for Comeback Player of the Year. Before the media made a case for why Goff should receive the award, Goff was not listed in the market. But commentators made a passionate plea that prompted the sportsbooks to set a price for Goff; however, the problem for many sportsbooks is that they had to set their own price since there was no existing line in place.
This led to prices on Goff ranging from +4000 to +2500. Suppose a gambler wanted to bet on Goff. But they only have an account with one book. They could bet him at +2500, meaning the bet must win 3.85% of the time to be profitable. Conversely, if they bet him at +4000, they only need to win 2.44% of the time to make a profit.
Once the odds at each sportsbook were adjusted, the difference grew even larger. Later there was a gap between Goff at +2000 (4.76%) and +850 (10.53%). Previously, there was a 1.41% difference in the break-even percentage; that gap has now grown to a whopping 5.77%.
By betting on Goff at the worst price and not purchasing him at the best price, gamblers are forced to be right 5.77% of the time, more than if they had bought Goff at the best price.
In a futures market, people don’t usually fall for this as much since it’s easier to identify the percentage difference in the wagers when comparing odds of +2000 versus +850. But not enough gamblers bother to get that full advantage for themselves.
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