Our Sports Gambling 101 series continues with a look at the importance of shopping for best odds and prices. How can players receive the best available betting lines?
Few people check out the selection and prices at just one dealership prior to purchasing a vehicle. The same applies to sports betting, as players will often find different odds and prices by checking the lines at a variety of sportsbooks. While the impact may be limited on individual bets, consistently paying (-105) juice, instead of a (-110) price, adds up over the long haul. Adding or subtracting points is also possible when bettors shop around for the best priced odds.
Shop For Best Value on Standard Betting Options
As part of a proper bankroll management strategy, bettors should always shop around for the best game total, point spread and moneyline prices. Comparative shopping can reduce risk and increase returns. Some bookmakers attempt to offer better value than a competitor while some move lines due to having too much exposure on certain betting options. A number of sportsbooks are open in several states, plus available online, and price shopping gets easier every day.
From our NFL odds example, all three standard betting options are posted with different values. Players receive added value with the Arizona point spread juice (-120) at FanDuel while San Francisco (+103) is priced better at DraftKings. The Cardinals (+310) moneyline pays a higher return at FanDuel while the 49ers (-385) straight up price costs less at DraftKings. Bettors should also notice the half-point hook difference on the game total odds at the two sportsbooks.
Futures Wagering Prices Often Differ by Sportsbook
Growing in popularity, futures betting options can deliver large returns when properly played. Beyond researching the teams involved - bettors also need to ensure they are receiving the best prices. In the NHL Stanley Cup example below, futures odds on Boston, Tampa Bay, and Philadelphia have more value at DraftKings while Vegas has better odds at FanDuel. The Flyers price stands out as a $100 wager returns $1000 at DraftKings compared to just $850 at FanDuel.
Player and Team Prop Betting Odds Can Fluctuate
When betting on preseason odds, or just prior to the start of a match, player and team prop odds are often tagged with conflicting prices as well. Drastically different, the 2020 NFL preseason player prop odds below illustrate that. Bettors backing Davante Adams, to exceed 1150 receiving yards, receive a much better line with the 1150.5 OVER odds at DraftKings. On the flip side, despite slightly increased juice, 1200.5 total yards at FanDuel is the better UNDER line.
Odds Shopping Bottom Line:
Comparing odds is very simple and players receive more bang for their buck when they shop for the best prices. Just two minutes of added research earned players an extra $150 possible return on the Flyers in the NHL futures odds example above. Players are strongly advised to include odds shopping as part of their sports betting research.