The Odds Factory

Why You Should Have Accounts at Multiple Sportsbooks 

Why You Should Have Accounts at Multiple Sportsbooks: DraftKings Sportsbook & FanDuel Sportsbook

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There are two types of bettors in this world – winners and losers. The losers bet for “fun” and to “feel involved in the game.” That’s cute. If that’s you, feel free to stop reading this article right now. 

This article is for the winners. The people who are betting to actually make money. The guys who are willing to do just a little bit of research to make their wagers go even further. The bettors who get physically ill at the thought of leaving money on the table. 

If that describes you, then I have one piece of advice – create accounts and actively bet at as many sportsbooks as you possibly can. 

Why You Should Have Accounts at Multiple Sportsbooks

Why, you ask? Don’t worry, I’ll tell you. 

There are 4 main reasons you want to have accounts at multiple sportsbooks – bonus deposits, line shopping, promotions, and variety of bet options. 

Bonus Deposits 

There’s one thing I love more than money. And that’s free money. 

One of the major perks for signing up for any sportsbook is the free money bonuses that you get once you make an initial deposit. The bonus will vary across books, but the concept is simple – depending on how much money you put into your account, you’ll get back free bet dollars to use for future bets. 

Here are some of the deposit bonuses for the top books for context:

A Disclaimer…

Now, it’s important to keep in mind that these “bet dollars” can’t actually be cashed out right away. You have to use them to place actual bets – if you actually win, then you transfer your winnings to your account.

It’s a bit of a bummer, but so what? You get to bet for free. And since you’re playing with house money, it gives you the freedom to make riskier bets. You never know, you might hit a big parlay with your bonus deposit money and walk away with a nice stack in your first week at a book. 

If you’re serious about gambling, you’d be smart to sign up for as many books as you can and cash in all those deposit bonuses. 

Line Shopping 

While it can be a little time-consuming, you should always be looking at different sportsbooks, shopping for the best lines, odds, and payouts for your bets. 

Now, for standard bets like point-spread or over/unders, you generally won’t find much variance since this is where 80% of the market is placing their wagers. You can give a quick glance between your books, but generally speaking, just go with whichever operator you like best because shopping for lines won’t show much difference. 

However, the real differences come from more specific bets like 1H Point Totals or props. And while each bet may only vary slightly, when you start to parlay them together, the differences can really add up. These inter-book odds differences become even more drastic for big events like the Super Bowl, a big UFC fight, or March Madness when there’s a higher volume of total bets (meaning more variance in odds between books) and total bettors (books have to be more competitive with their odds to capture all the consumers). 

Here’s a quick table I put together back in February, comparing some of the top Super Bowl Prop Odds between BetMGM and PointsBet:

Moneyline  Player Prop BetMGM

Odds

PointsBet 

Odds

Payout Difference

($100 Bet)

KC Williams 50+ Rushing Yards +250 +386 $136
KC Watkins 50+ Receiving Yards +225 +357 $132
TB Brown 50+ Receiving Yards +350 +416 $66

As you can tell, the differences in payout can be pretty significant. Always maximize your bets by shopping for the best lines. 

There’s also a process known as arbitrage betting, which is slightly different and involves placing the opposite bets at two different books to exploit probability percentages. It’s a pretty advanced maneuver, but my man Chris Gerlacher does a good job breaking it down here.

Promotions 

Anyone who’s followed my Easy Money Promo articles knows that I love a good sportsbook promo. It’s the easiest way to grow your winnings, minimize your losses, and leverage every dollar that you have to make money betting on sports. 

Every single day, sportsbooks will come out with a new promo for that night’s games. And if you have accounts at multiple sportsbooks, you can do quick research to find the best ones available. 

There are generally two kinds of promotions.

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Odds Boosts

Every day, books will boost odds for certain games or player props. This is a great opportunity to get excellent odds and increase your payouts on bets you may not have necessarily considered. You should be perusing these pages every day while you’re placing your standard bets for the night and jumping on good opportunities. 

Here’s a quick glance at PointsBets Odds Boosts for tonight. (I’m an NJ bettor, so my odds boosts might be different than yours, but you get a general idea.) 

Why You Should Have Accounts at Multiple Sportsbooks: PointsBet Odds Boosts Part IWhy You Should Have Accounts at Multiple Sportsbooks: PointBet Odds Boosts Part IIAs you can see, there’s a ton of opportunities for solid bets at great odds every single night. 

Site Features 

These are profit-boost promos or money-back promotions that are specific to a site or sportsbook that are always available to bettors. It varies by book and can depend on specific sports. So having accounts at multiple sportsbooks gives you opportunities to help grow your account on bets you would’ve been making anyways.  

For example, PointsBet offers parlay insurance for all MLB or NBA 4-game parlays, where you get your money back if just one leg fails. If you like doing big parlays for the MLB or NBA, you’d want to bet with PointsBet. 

On the other hand, DraftKings is offering a 33% profit boost for all NBA Playoff parlays. If you lean towards 2 or 3-leg parlays, you should bet with them. 

Variety of Betting Options 

Last but not least comes the sheer variety of betting options. Obviously, every book will let you place bets on sports like the NFL, NBA, or MLB and make wagers like moneyline, spread, or over/under. However, if you like betting on a more obscure sport or making specific player props, certain books might not have that bet available. 

When it comes to European sports like cricket or Premier League soccer, go with a book like William Hill that’s based in the UK. Not only will they offer odds on every niche sport, but they’ll offer more specific bets within those sports (like who’ll lead the Premier League at Easter). 

If you’re looking to make very specific wagers on player props or 1H unders, bet with a book like PointsBet or DraftKings. They have a huge volume of wagers, particularly for the more popular American sports.  

Right now is the prime time to be betting on sports. You have NBA and NHL playoffs, the MLB regular season, and upcoming majors in golf and tennis. Make your money go further and sign your ass up for as many accounts as you can. Happy betting.

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