Sports Betting Online
A sportsbook is a place where a gambling can wager on various sports competitions. The general role of a sportsbook (also known as "bookmaker") is to act as a market maker for sports wagers, most of which have a binary outcome where a team either wins or loses. The bookmaker accepts wagers on both ends, and charges a vigorish which will ensure a profit regardless of the outcome of the wager. This vig is usually 11-to-10 where the gambler pays $11 in order to win $10.
Benefits of Betting Sports Online
Although there is nothing wrong with betting offline, betting using an online sportsbook, such as Bovada has way more advantages than offline betting.
- Fair payouts and rules. The sportsbooks will have clear rules that state payouts.
- No dealing with bookies. You don't have to worry about a local bookie not paying you.
- Loyalty program. You may get bonuses, cash back, or points you can use to buy merchandise or place free bets.
- Contests. Sometimes a sportsbook will hold a contest where you can win a prize.
- No wagering on credit. You won't get into trouble by borrowing money. Although bookies seem like they are doing you a favor by loaning you money to place wagers, they are not. Borrowing money to gamble will just get you into trouble.
- Immediate access to winnings. You don't have to wait around trying to collect your winnings. Sometimes the money will post to your account within a minute of a game ending. This is especially important if you want to wager again quickly.
- 24/7 access. The web site is open all the time so you don't have to worry about being able to connect to someone in order to get a bet placed.
- Variety of wagers. Popular online sportsbooks will offer you a wide variety of wager options. It's not until after you look and see that you realize that you can bet on things like pop culture (the winner of American Idol), or presidential elections.
- Other gambling. You can also bet on poker, horses and casino games.
- Bonuses. Online sportsbooks usually offer sign-up and reload bonuses.
- Lower vig. Similar to poker, the relatively cheaper cost of running an online-only business allows the sportsbook to pass along some of these savings in the form of a lower vig.
Choosing A Sportsbook
- Years in Business. The company should have at least a few years of operational experience.
- Security of Funds. Your funds should be held in escrow. They should not be used to fund the operations of the business.
- Methods of Deposit. The site should offer a variety of easy methods to deposit, and more importantly, withdraw money.
- Customer Service. The site should have competent employees to deal with any problems that you have.
- Good web site. The web site should be reliable and easy to use.
- Location. The company should operate out of a country where it is legal to operate an online sportsbook.
- Bonuses. It is an added benefit to go with a site that has a generous sign-up bonus and re-load bonuses.
March 1, 2013