How Global Sports Betting Exchanges Provide the Best Money Odds
Most off-shore sportsbooks are a different breed of operation than your standard Vegas sportsbook. An important thing to remember when placing a moneyline bet is the spread between the favorite and dog. Does the sportsbook offer “dimeline” odds. Dimeline odds ensures that the odds on the favorite and the dog will always be separated by 10 cents on the dollar or a “dimeline”. If a favorite is -150 to win 100, the underdog will have a line to win +140 for 100 risk loss — a 10 cent difference.
A dimeline is a rare bet to find at most books except at the global betting exchanges off-shore that provide the best money odds for your bet.
Dimelines are great but scarce because they offer the bettor decent value without the over-inflated money odds. Some sportsbooks offer 15 or 20 cent odds, hoping their members are either unaware of dimeline sportsbooks or unwilling to change books. Using a 15 or 20 cent sportsbooks puts you at an automatic disadvantage. Most books need an edge by juggling the money odds to squeeze out a little more profit, which makes business sense.
There are better options out there for all types of bettors. These options are called betting exchanges with the best money lines you can find anywhere in the world. Betting exchanges forego the “middle man” and allow bettors from all over the world to offer lines directly to one another. The middle the exchange brings is to match up those bettors looking to go against other bettors and keeping a financial record of the transactions.
A betting exchange offers better money lines on favorites, underdogs and totals. The betting exchange does not “straddle the line” like a sportsbook does (always separating the favorite and underdog line by exactly 10, 15 or 20 cents). The exchange will post the lines which are from the Vegas Consultants but the money vig is set by the exchange members.
Never settle on using just one sportsbook to place all of your wagers. By diversifying your sportsbook memberships, you find the opportunity of better money lines with less vigorish. For any bettor, it makes sense to belong to a betting exchange if they accept US bettors.
They are not legal in Las Vegas and Nevada since their sports betting platform is not approved by the Nevada Gaming Commission.
A betting exchange format could soon be the future of sports betting if the legality issues are settled by the courts and US bettors have more legal options to place bets. If the Supreme Court has a favorable ruling for the New Jersey appeal case against PASPA, there will be more sports betting markets coming over from Europe, namely Betting Exchanges and Spread Betting.
These two other betting formats are very popular in Europe and different than standard Las Vegas style of sports betting but also similar in principle of picking winners with better payouts where possible.
An exchange betting company regulates and manages the exchange of funds between its members through user friendly software. The exchange has no risk since they post the input data from a member who can risk his own account stake or a member who will accept the posted money odds by another member. The exchange takes a small commission between bettors and debits or credits the accounts of the competing bettors. The exchange is guaranteed a commission for providing a service to bettors. The bettors get great reduced vigorish of -105 or -103 from other members competing for your bet by lowering the juice.
A Vegas sportsbook can and does lose money during the year but not in the long run. NFL bettors can cause damages to the books when the betting public cashes in on the popular favorite plus over betting parlays. The books know they are vulnerable when they have 70 to 80 percent one way action with limited options to avoid losses. They clearly do not like the risk of large blocks of amateur public money getting lucky or smart money cashing large bets.
A betting exchange makes sense for the books to eliminate risky situations but they might lose out if the exchange format cannot match up bettors which does happen. The Vegas sportsbooks will keep their standard betting operations to bring people into the casino but their growing mobile betting might be a good fit for an exchange betting platform. A separate entity for those computer bettors who can open an account and play against other bettors with reduced juice but fewer options for smaller money play wagering.