Why U.S. Bettors Need to Join Multiple Sportsbooks
Contents
There is no shortage of sports betting platforms available right now. Even non-bettors are definitely aware of the big names such as DraftKings, FanDuel, BetMGM, and Caesars Sportsbook. And casual bettors are at least partially familiar with some of the other books out there, such as BetRivers, PointsBet, FOX Bet, and WynnBET. But, with so many sportsbooks available, how does a bettor choose how to start their sports betting journey? Well, we have a bit more information on the behavior of bettors, and it’s an interesting oversight that might cost them in the long run.
U.S. Sports Bettors Use Fewer Platforms
Bettors in the U.S. need to start diversifying their portfolios. At least, that’s what one can gather from some recent comments by Peter Jackson, CEO of the massive betting company Flutter. Jackson recently made comments about how U.S. sports bettors tend to have fewer accounts than those in other areas, with many just sticking to one sports betting app. Eilers & Krejcik Gaming director of market analysis Damon Singer concurs, saying most consumers that engage in sports betting tend to stay around two to three sportsbooks rather than attempt to bet the board across all the apps available.
One big clue to this number is the sheer market share of sports betting apps. With over 10 million sports betting app downloads over the past year, over half of those belong to either FanDuel Sportsbook or DraftKings Sportsbook. Some believe this means casual consumers might download one or both, but not go any further.
What’s the Downside?
This strategy puts sports bettors at a big disadvantage for a number of reasons. Namely, the odds can be different from sportsbook to sportsbook. The Los Angeles Kings might be -130 moneyline on one book but -110 on another, meaning you’re leaving money on the table not moving over to another sportsbook.
However, it’s the promos that can truly make betting numerous sportsbooks fruitful. In addition to every platform having its own unique welcome bonus, each will have specific promotions for different sports and events. While FanDuel might not do anything special for Sunday Night Football, PointsBet might be offering a second chance bet. While DraftKings might not have any NBA specials on a Wednesday, BetRivers could have a 20% profit boost. Checking each book before placing your bet can be quite profitable, both in terms of odds and promotions.
The Bottom Line
Sports betting is an art, not a science. Every new bettor might download DraftKings with dreams of hitting it big on their Super Bowl bets, but the books are extremely tough to take on. Putting together an army of sportsbooks for the best possible outcome is both strategically and statistically more sensible. The hesitation, of course, comes from the need to make deposits into each separate account in order to have the option to use different books, and that’s totally understandable. However, if you’re serious about doing your research and making some big bets to try and beat the books, using the maximum amount of platforms is the game plan that makes the most sense.
