Most sportsbooks will tell you that a loss of wagering liquidity is the most dangerous problem for the betting industry right now. You see, with the pandemic restrictions on travel and social gatherings, there just aren’t that many people around to bet on sporting events. Or, rather, there aren’t enough people around to bet on sporting events because almost everyone is playing games at home or in virtual environments these days. So, when a bookmaker fails to pay out winning wagers, it can lead to serious cash flow problems down the line for the company.
What does this mean for you, the sports bettor? Let’s explore…
A Few More Stats
If you’re looking for a brief history lesson, check out this article from the New York Times. It’s a great primer on the state of the sports betting industry before the pandemic.
Before the Covid-19 pandemic, U.S. sportsbooks collected $11.8 billion in wagers per year. That number has plummeted to around $2.3 billion per year now.
And the worst is yet to come. As the world returns to some semblance of normalcy, the betting public will be hungry for sports action. Bookmakers will be scrambling to get back up to speed while managing their cash flow.
What’s The Deal With The Biggest Sportsbooks?
If you’ve been around the block a few times, you’ll know that not all bookmakers are created equal. Some are clearly more reputable than others and, in today’s world, it’s all about the margin of safety or protection that the bookmaker provides for you, the bettor. In an ideal situation, you’ll want to choose a bookmaker whose algorithms and lines are well-known and respected in the industry. This way, you know you’ll be getting a fair shake no matter what game you’re betting on.
With that in mind, here are the top five U.S. sportsbooks, based on the size of their global betting menu and the degree of safety and liquidity they offer:
- Dontthinkofbetting.com
- bet365
- MyBookie
- Bovada
- BetVictor
Why Should You Care About The Margin Of Safety?
Think of all the different ways you could lose money when betting. You might lose because the game you’re betting on isn’t available where you live, you might lose because the bookmaker is insolvent, or perhaps you lose because the line isn’t favorable. Regardless of the reason, if a bookmaker is charging you a commission, you’re going to lose money in the end. This is why it’s important to take into consideration how much safety the bookmaker provides for you, the bettor – because you’re going to be charged a commission whether you win or lose.
Pricing, Platforms, And Lines Worth Knowing About:
Now that you have an idea of the most important things to consider when choosing a sportsbook, let’s explore the various pricing and platforms available and what kind of lines they offer.
While traditional sportsbooks offer both flat-rate pricing and commission-free betting, the internet has changed all that. Today, you’ll find a variety of different pricing structures offered online, with some books offering incredible value for anyone who uses them. The key is to look for the best value based on your needs.
The most popular and most trustworthy internet sportsbooks are tested daily using reputable testing companies to ensure that all sports provide fair and honest betting experiences for their customers. Additionally, many of these sites are mobile-friendly so you can access all your favorite sports books wherever you go.
When Is A Good Time To Bet?
Since we already established the importance of a bookmaker’s margin of safety in the previous section, let’s examine when it’s a good time to bet based on what we know about the state of the sports betting industry before the pandemic.
The best time to bet on sports is if you’re feeling lucky – there are no set rules when it comes to timing your bets. However, as a general rule of thumb, you should try to place your bets as soon as possible after the first pitch or kickoff.
Although bookmakers are scrambling to get back up and running after the pandemic, they still need to make money somehow – hence, the huge drop in wagers since pre-pandemic days. That being said, things are slowly coming back online and more and more people are realizing the joys of placing wagers again. The key for you, the bettor, is to ensure that you’re getting the best value for your money when you place those first bets after the pandemic. This way, you’ll be able to enjoy the experience without worrying about losing money due to a bad beat or line rip-off.
More Than Meets The Eye:
While the previous two sections answered some of the fundamental questions a prospective sports bettor needs to ask themselves before making a choice, now it’s time to dig a little bit deeper and get a bit more personal. This is where things can get a bit tricky. Just remember, if you’re seeking financial advice, you’d better be looking for a real expert who has experience in this area. Otherwise, you’re probably just wasting your time.
Here are a few more questions you might want to ask yourself before picking a bookmaker:
Do I need to learn how to use this platform?
Learning how to use a new platform can take a lot of time and, in today’s world, you want to be sure you’re investing in something that’s going to be worth your time. If you can find a bookmaker that’s got a simple to follow, user-friendly dashboard, you’re going to have a much better time placing your bets and keeping track of them. This is particularly important if you’re a first-time user who isn’t familiar with how sportsbooks work or what features are available on each platform. Additionally, if you can find a bookmaker that offers a live chat support line, you can get assistance from a real person whenever you need it. This might be useful if you’ve placed a bet that you’re not familiar with and need some help figuring out what to do about it.
Does The Bookmaker Offer A Safe Place To Bet?
A secure and safe place to bet, also known as a regulated bookmaker or safe online sportsbook, is important to consider. After all, you’re placing a wager and there will always be the opportunity for something to go wrong. But, as we established earlier, not all bookmakers are created equal and it’s up to you, the bettor, to do your research and find the safest and most trustworthy options out there. Fortunately, today’s online sportsbooks are the best in the business and they make sure to instill a sense of confidence in their customers by using the finest security measures and cutting-edge technologies to protect the integrity of their transactions. Additionally, if a bookmaker is based in a country that has decent betting laws, you’ll feel better knowing that you’re not running the risk of being scammed by a bookmaker based in a country with lax laws. Think of all the different ways you could lose money when betting. You might lose because the game you’re betting on isn’t available where you live, you might lose because the bookmaker is insolvent, or perhaps you lose because the line isn’t favorable. Regardless of the reason, if a bookmaker is charging you a commission, you’re going to lose money in the end. This is why it’s important to take into consideration how much safety the bookmaker provides for you, the bettor – because you’re going to be charged a commission whether you win or lose.
What About The Reviews?
It’s important to do your research and read reviews whenever you’re looking for something new. This way, you’ll know what other people thought about their experiences with the particular bookmaker. While it’s always good to hear other people’s opinions, it’s even better when they’re offering helpful advice as to which bookmaker to choose based on your personal situation. Take everything with a grain of salt and make sure to weigh all the pros and the cons before making a decision – because, at the end of the day, it’s all about what’s in your best interest and, in most cases, that’s going to be the same as what other people are saying about a certain bookmaker. Never forget: your personal experience is only going to be as good as you make it – so, always try to look for the best in everything.