How to Pick an Online Sportsbook
About the author
Joey Shadeck is a Research Analyst for BettingBuck.com, a website dedicated to online sportsbook reviews. Joey has been betting on sports for the last five years and writes all reviews, guides, and state-by-state legislative updates for BettingBuck. You can follow him on Twitter @JShadeck.
Choosing an online sportsbook is a difficult decision for any bettor. You must trust that your money is going to a safe and reliable sportsbook. You also want to bet with a sportsbook that gives you the best experience as a client, by fitting your style of wagering.
Some bettors might want the cheapest odds while others enjoy building custom bets in a player props menu. Perhaps you are looking for a big bonus. Maybe you want to find a sportsbook that is easy to use.
In this guide, we cover the most important factors to remember when selecting an online sportsbook. The importance of these factors differs based on whether you are betting with an offshore sportsbook, such as 5Dimes, verse a US regulated sportsbook, such as DraftKings. There are a few differences between offshore sportsbooks and US regulated sportsbooks.
For reference, the picture below shows some of the most popular offshore and US-based sportsbooks.
For offshore sportsbooks banking options, as well as trustworthiness, play a huge role. It is important to find online sportsbooks that have been around for several years, and have a standing history of treating their customers right. Offshore sportsbooks are often based in foreign countries such as Costa Rica. Sometimes they are regulated by their home country, and other times they aren’t.
For US-based sportsbooks, focusing on reputation is not as big of an issue. If a US book tries to confiscate a player’s winnings or freeze an account, they will hear about it from the media and potentially lose hundreds of customers. This is good for bettors who live in a state with legalized sports betting, which is why betting with a US regulated sportsbook is encouraged if possible. If you live in a state with legal sports betting, your focus should be geared towards getting cheap odds and having the option to place your favorite types of bets.
Below are the most important things to consider when picking an online sportsbook. After you’ve opened an account with an online sportsbook be sure to check out free and premium picks on games.
Banking Options and Fees – Banking fees can become a significant nuisance when depositing or withdrawing money, especially from an offshore sportsbook. Almost all sportsbooks allow you to deposit money freely, but some offshore books charge deposit fees for credit/debit cards.
Most offshore sportsbooks impose withdrawal minimum and fees, which are rarely waived. US-based sportsbooks typically have low-to-no minimums, and rarely charge withdrawal fees. Each sportsbook has different withdrawal options, ranging from echecks and PayPal to Neteller and Skrill. It is crucial to select a sportsbook that minimizes your costs and maximizes your ease of use.
Odds – Odds are vital to making money in sports wagering. Finding the best odds means more money in your pocket! I recommend having accounts with multiple sportsbooks so you can shop lines, ensuring a better price on your bets. If you wager $100 at -120 odds you will win $83.33. If you’re able to find the same game at -110 odds, then you will win $90.91. Over a year, line shopping has the potential to save you hundreds of dollars.
Sports and Bets Offered – A common misconception is that all sportsbooks offer the same sports and bets. This is far from the truth, as some sportsbooks have multiple betting menus, offer more additional bets, and offer upwards of 10 more sports than others.
The variety of bets offered is one of the biggest differentiators between sportsbooks. All sportsbooks offer standard moneyline, spreads, and total bets. Only some sportsbooks offer unique team and player props. Examples of unique prop bets would be Over/under how many points LeBron James scores, who will throw more passing yards between Matt Stafford and Mitch Trubisky, or will a home run be hit in the 7th inning. If you enjoy betting on props like these, you will have a narrower selection if sportsbooks to choose from.
Sportsbooks also tend to vary in terms of the variety of live bets they offer. More advanced sportsbooks, especially in the US-regulated market, are working to provide instant live bets. Instant live bets allow you to bet on the next point in a tennis match or the next at-bat in a baseball game. As technology improves, instant betting will change the way we watch and bet on sports.
Mobile Betting – While offshore sportsbooks do not offer mobile apps, their mobile experiences, and the overall navigation of their website varies. Some offshore sportsbooks lose certain features in a mobile view, while others transition flawlessly.
US-based sportsbooks almost always have iOS and Android applications. Mobile betting in Nevada is a terrible experience, while mobile betting in New Jersey is a fantastic one. Other states that are rolling out US-regulated mobile sports betting in 2019 include Pennsylvania, Iowa, Indiana, Tennessee, Illinois, West Virginia, New Hampshire, and Montana.
Customer Service – 24/7 support is important to some bettors, while others may want to use online live chat for issues. Having access to quality customer support can be a deal breaker.
Reputation – Looking for a sportsbook is like looking for a good accountant, you don’t want any schmuck handling your money. Finding a sportsbook that is known for treating their customers well is essential. PointsBet, a US-regulated sportsbook, has a Karma Kommittee that refunds bettors on losing games with controversial endings. When the New Orleans Saints lost the NFC-Championship game to the Los Angeles Rams after a missed pass interference call, PointsBet refunded bettors who bet on the Saints to win the game. While this type of customer/sportsbook relationship isn’t typical, it is an example of a sportsbook going above and beyond to treat bettors right.
Finding an offshore sportsbook with a stellar reputation is more challenging due to the lack of US-regulation surrounding the book. This can sometimes lead to offshore sportsbooks that aren’t trustworthy. With offshore sportsbooks, time in business, and reputation over the lifespan of the business are incredibly important. Some offshore books have been around for over 20 years while others have opened in the last few years.
