Line Shopping and Using Multiple Sportsbooks Will Improve Your ROI
Line shopping is one of those concepts that is preached, but very few actually choose to execute it. If you do it correctly, you will reduce the winning percentage needed to breakeven or turn a profit AND you will also have a better winning percentage.
Think about your objectives when betting…
Reducing Winning Percentage Needed to Breakeven
How do you accomplish reducing the winning percentage needed to breakeven? You improve the odds in your favor! Whether you are betting on the Moneyline, Total or Spread (Puck Line or Run Line included), your objective is to find the most advantageous odds for the position you wish to take.
You cannot ensure that you get the best odds (return), if you are only using one sportsbook.
No one sportsbook is going to have the best odds available. It’s a competitive space and the odds shift over time, but you are hunting for the best odds at a given time. You are a sniper, not a sucker.
Payouts make a difference.
- A $100 wager on -110 odds results in a payout of $90.91.
- A $100 wager on -105 odds results in a payout of $95.24.
It all adds up over time.
It gets more extreme with Moneylines. All these lines below were taken at the same time.
South Florida vs. Boston College in College Basketball has radically different lines across 5 different sportsbooks.
Think Boston College is going to win this game outright, but don’t want to bet on the spread. You shouldn’t place that bet with Sportsbook E. You are best off with Sportsbook B.
Comparing these sportsbooks when it comes to betting on Boston College.
- On a $100 wager, Sportsbook A pays out $40.82.
- On a $100 wager, Sportsbook B pays out $42.55.
- On a $100 wager, Sportsbook C pays out $40.82.
- On a $100 wager, Sportsbook D pays out $41.67.
- On a $100 wager, Sportsbook E pays out $29.41.
See how it pays to line shop. You didn’t have to take on any extra risk, you just looked for the best deal. It’s like shopping for the best price on the same shirt across multiple websites. That’s a $13.14 difference between the best deal and worst deal.
Now, if you are betting on South Florida to win outright. You should place that wager with Sportsbook E and Sportsbook A offers the worst deal on this game for those taking this position.
Comparing these sportsbooks when it comes to betting on South Florida.
- On a $100 wager, Sportsbook A pays out $185.
- On a $100 wager, Sportsbook B pays out $195.
- On a $100 wager, Sportsbook C pays out $205.
- On a $100 wager, Sportsbook D pays out $200.
- On a $100 wager, Sportsbook E pays out $225.
That’s a $40 difference in returns between best and worst.
Improving Winning Percentage
If you are betting spreads and totals, you will notice that the lines can vary. One sportsbook on a spread wager could be different from another for a particular game by one point.
If you think that a team that is favored to win by 2 points with one sportsbook is worthy of your bet, imagine being able to get it at -1 with another. You are expanding your possibilities of winning when you search out the best line for your position in a particular game.
It really helps to find that most advantageous spread or total because sometimes sportsbooks get it right with their lines. You want to be on the right side of that close call, if it does happen. You’ll be surprised that you may find yourself on the winning end by a hair and it is because you shopped around.
Improve Your Profitability Before You Wager with Multiple Accounts
By having multiple accounts, it is recommended that you have at least 5, you are ready to pounce immediately on a line that you see as advantageous compared to the competition. You are able to hedge Free Bet promotions, which means you get free money that in the process of wagering can be used to fulfill rollover requirements.
You are also able to take advantage of any promotions that pop up for existing customers at multiple sportsbooks.