Online Sportsbooks Offer The Most Competitive Betting Lines
Long before individual US states got into the business of legal sports betting, offshore books located in legal jurisdictions have been catering to the US market. The top-rated online books continue to lead the way in what has become a highly competitive marketplace.
One of the primary ways that online books have been able to maintain their competitive advantage is through more favorable betting lines and odds. Land-based US sportsbooks tied to casinos and racetracks face far more legislative restrictions than offshore books in legal jurisdictions located in the Caribbean and Central America.
Legislative controls vary from state to state and they tend to limit the overall betting options. This is opposed to a much more open system of line setting at your traditional online book. While avid sports bettors can benefit from a greater variety of betting lines, they can also stretch their online sportsbook betting bankroll with far more competitive betting lines.
Tax rates on sports betting revenue also varies from state to state. However, a greater percentage of the money made at an average US book goes back to its state of origin. Using much lower tax rates offshore, traditional online sportsbooks have found ways to pass those savings onto their sports betting customers.
The biggest example of this would be ‘reduced juice.’ The standard juice or commission charged on a sports bet is 10 percent. This holds true for any commercial book taking bets. The US books need the full 10 percent due to their financial obligations to their state of origin.
Offshore bookies have the built-in flexibility to reduce the juice to five percent or lower on certain betting options. They also have the ability to tweak the betting lines to move money through lower commissions.
For example, if you are betting a NBA game between Boston and Philadelphia at a US book, you can get the Celtics minus five points at -110 or the 76ers plus five points at -110.
That same game at an online book might offer reduced juice on the underdog. Boston would still be a five-point favorite at -115 while Philly plus the five points is listed at -105.
The online books are simply trying to move more money towards the Sixers in this game but anyone betting them can benefit. Shopping the commission charged for a lower number can add up to quite a bit of savings over the course of entire season.
As noted, US books do not really have the option to move juice as a handicapping tactic. They are generally stuck with charging 10 percent across the board. The increased flexibility in setting lines continues to heavily favor the traditional online books.
States offering legal sports betting have actually provided a boost for online books. In states where casinos now offer sports betting as well, the revenue decreases have been minimal for the offshore sports betting industry. These states tend to have a higher betting handle overall.
In states that do not offer legal sports betting, the increased demand has driven up the handle for online books over the past two years.
The bottom line is that sports betting in general is growing at a rapid pace. Rising to the occasion in a much more competitive environment, the top-rated online sportsbooks continue to thrive and prosper. This, in turn, becomes a major benefit to your sports betting activities.