| Choosing an online Sportsbook
1) "Do I need more than one bookie?"
Technically the answer is no, but practically the answer is "Yes,
absolutely!".
The primary advantage to having several bookies (or "books"
or "outs" as they're called) is that you will often get
different lines on a football game to play into. Over the long run
the extra work you undertake to maintain several accounts can turn
you from being a loser into being a winner, or adding to your net
winnings. Let's compare shopping for odds with shopping for a new
car.
When the line comes out in the paper early in the week, you look
the lines over, just as if you're thinking about a new car. So you
like the Packers at -3, just like you decide you want to buy a midnight
blue V-6 coupe. If you were buying the car, you wouldn't just go
to one dealership and say "Gimme a midnight blue V-6 coupe"
– you'd shop around at different dealerships, maybe even at
different companies to get your best deal.
So when you're buying the Packers, just because the newspaper says
they're -3 doesn't mean that'll be the number of points you'll lay.
If you have enough outs you're bound to find one offering the Packers
-2.5 or even -2. (You'll also find some spots quoting you -3.5 or
-4.) Why not take them at the most favourable line you can? If the
game winds up as a Packers win by 3, you'll sure be glad you did.
A second advantage to having more than one place to play with your
business "spread around" is that if, by cruel fate, your
bookie gets thrown in jail or your offshore out absconds with your
dough, all your eggs aren't in a single basket. This is unpleasant
to contemplate, but it's a fact of life.
2) "Did you say JAIL? Do I want a local bookie?"
Unfortunately these things do happen, but rarely if ever to players.
Law enforcement eager to shut down gambling want to nab the bookies,
not their clients. In many jurisdictions, and in Canada, betting
is not illegal in itself, but making book is.
OK so I'm not telling anybody to break the law, but if you choose
a local bookie or two as part of your list of outs, there are advantages
to be had.
–Most local guys move lines either more slowly or more drastically
than do shops in Nevada, the Carribean, or overseas. So, in comparison
to other places, you'll get "different" lines. Since you're
going to play the "best" line for you, the more differences,
the merrier.
–Local guys are just a phone call or a trip to a nearby spot
away. (When I lived in the USA there was a good bookie set up in
a bar down the street, and the bar was called "The Office".
So every Sunday an hour before game time I'd just leave the house
and say "Back by kickoff, hon–I just have to go do something
quick at The Office.")
–Local guys usually extend some measure of credit, settling
up weekly or every two weeks, or something like that.
So, if your guy gets busted the Friday before the Super Bowl (every
bookie I know from Nova Scotia to New England to the Midwest who's
been in business five years has been cuffed at least once), he doesn't
have a big wad of your dough on him. In fact, he'll even be out
of jail by Tuesday to make your regular settle-up meeting...
3) "What about Nevada and Offshore?"
Unless you're physically in Nevada it's illegal to place a bet
there, and the casinos actually have to at least half-try to enforce
this to keep their licence. Since the mega-casinos make far more
from slots and table games than they do by booking sports, they
don't want to risk the wrath of the gaming authorities by helping
people get around the law. Even calling your uncle in Vegas and
getting him to wander down to a shop and put down $100 on the Giants
for you is technically illegal. Unless you're in Nevada, my opinion
is don't bother trying to bet there. It's just not worth it.
Offshore, friends, is a different story. Countless operations have
sprung up from Antigua to Australia that will let you call a toll-free
number to place a bet, or bet over the Internet. The quality shops
in this growing universe are the perfect complement to your local
outs.
4) "Um, ‘Quality' outs? There are bad ones?"
Well, the bad news is there are probably a lot more places out
there that don't deserve your business than ones that do. Some people
are crooks; others mean well but are inexperienced and go bankrupt.
Gaming is the fastest growing industry on the ‘Net (yes, faster
than porn, hardcover books, or even books of porn) and this is the
new version of the frontier that was Wyatt Earp's Wild West. There
are real cowboys out there, some with white hats, some with black,
some too stupid to figure out how to wear a hat.
The good news is there are many solid bookies out there too. These
are the ones you want to deal with, because most offshore shops
don't offer credit. You send them money, and you have an account
with them, as if they were a bank. You bet using the money in your
account. When you lose, money comes out. When you win, the account
grows. What you need to know is at the end of the season (or whenever
you want) your bookie will be willing and able to refund however
much is left in your account.
5) "So how do I find the good places?"
One place to start is sportsbooks.net, an view thier recommended
list. These books have a track record of payouts. Some of these
places have been around a long time and are internationally recognised.
You should also visit other reliable forums on the Web. People
hype their own books, players discuss their favourites, and believe
me if an offshore out is no-paying or slow-paying its clients, it'll
be all over the posting forums.
6) "All right, I'm using sportsbooks.net as a starting point.
There are lots of them! How do I choose?"
Make a list of the things most important to you and compare the
candidates. Do you want a place with low minimums? Do you need a
place that can accept and refund money using bank wires? Do you
just play football, or do you bet other sports as well? (If you
play bases, you'll want a place with 10-cent baseball lines and
maybe overnight lines. If you want to play soccer, the quality of
lines varies wildly.) Is it important that you can be able to place
bets 24 hours a day? If you're going to be depositing and pulling
funds out frequently, what spots give you the best deals on money
transfers?
To address two points specifically:
–First, it's good to have at least a couple places that post
their odds (and hopefully let you bet) on the Internet. This makes
checking and comparing lines easy. Pop up a couple windows and surf
away. You need a couple phone-based outs too in case you're away
from your computer or your network is down, so don't go online completely
(most local bookies aren't online, or not for long anyway ...heh...
so that helps take care of that), but it's a real time-saver to
be able to get most of your odds with a mouse click or two.
–Second, one of the most talked about issues is the question
of the sign-up bonus. If everything else is equal, sure, grab the
sign-up bonus. I have faith in the sportsbooks.net that the sign-up
bonuses they offer aren't a huge risk factor for the bookies. A
few other shops, though, offer ridiculous bonuses and this may be
a sign that they haven't thought their business plan out very well...or
worse yet don't intend to pay out winnings at all. A newly opened
shop with bonuses that appear too good to be true is a siren song
your hard-earned deposit money just doesn't need to hear. If you
do pick a place with a sign-up bonus, make sure you know and fully
understand any conditions attached to the bonus up front.
7) "OK, I've picked a couple reputable offshore places. How
do I get started?"
Call them up! Ask for customer service. Tell them you are interested
in opening an account and say that you'd like to ask them a few
questions. At this point you should ask them about things that their
website or magazine ad leaves unclear. (Payout procedures aren't
usually spelled out in minute detail ... get them to explain this
bit-by-bit. Ditto for the sign-up bonus, if any.) You should confirm
what time each day lines are posted, which exotic bets are offered,
and in the case of Internet-based books get a phone number for technical
support should you require it later.
Use this conversation to make sure you're comfortable with the
book. I'm not saying that if the customer service rep is a smoothie
you're all set, but if your basic questions CAN'T be answered, this
book isn't as good as you thought it was and you should likely just
hang up.
Assuming everything goes well, declare that you would like to open
an account. They will take down your information and then give you
your account number. You will be given or asked to choose a password.
If it's a phone-based book you will be given a number you can call
to place wagers and get line rundowns (usually different from the
customer service number). You may be asked to send them a piece
of picture ID in the mail.
Next you must make a deposit. Most books have several ways to deposit
funds, and methods fall into one of five categories:
–Cheque/Money Order by regular mail (when you're in no hurry;
costs the price of an international stamp though you may want to
register it)
–Money Order/Cashier's Cheque by FedEx (takes 2-4 days; costs
about $30)
–Western Union (quick collect form or green form)/MoneyGram
(takes 30 minutes from the time you send it to clear; Quick Collect
is $15 and the green form or MoneyGram can cost up to $100)
–Bank Wire/Telegraphic Transfer (varies up to 5 days; fees
from $15-$30 usually)
–Credit Card (takes 10-30 minutes; fees vary wildly, up to
5% of the amount deposited)
I use Western Union Quick Collect whenever possible. It's cheap
(and the books I use always reimburse my fees), fast, and secure.
I don't use credit cards because as a Canadian I always get punished
on exchange rates and I'm also nervous about giving out my credit
card info over the phone. That said, many people choose to deposit
this way, and I'm likely in the minority.
When you want to withdraw winnings, just call the customer service
number up and they'll take you through the routine. You'll have
several choices on how to receive your money. I usually make a partial
withdrawal from a book about a month after first depositing just
to see how smoothly the payout procedure goes. .
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