What Is A Sportsbook in Regards to Sports Betting and Wagering?
Some people refer to sportsbooks as a sanctuary; a place they can go where they do their best thinking and enjoy the games and atmosphere. Some people refer to them as utter chaos and other than placing their bets at one, do everything in their power to get out before the games actually start. Whether you are one side of the fence, or the other, as long as the sportsbooks have your money tied up with them, they have you right where they want you. Sportsbooks are here to stay, so I suggest getting used to all the chaos.
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What Does the Term Sportsbook Mean?
When you hear someone use the term “sportsbook” they are often referring to a company that accepts bets on anything from sporting events to politics to horse racing. A single person who accept bets on sporting events is referred to as a bookie, while oversees in the United Kingdom, they use the term bookmaker instead of sportsbook.
How Do Sportsbooks Operate?
The simple answer for this question is that the sportsbooks are free to operate however they see fit. Each sportsbook has a different set of rules that constitutes what is considered a winning bet. Some facilities offer your money back when a push occurs against the spread, while some consider that a loss on a parlay ticket. Sportsbooks can also set their own lines and odds and adjust them however much they want in order to avoid a big loss, while still attracting action on both sides of the event. While sportsbook try to be unique, the similarities between them are obvious. All of them offer up the same types of bets – money line, point spread, totals, parlays, teasers, game specific prop bets and future bets. However, the juice or vig you will have to pay in order to come out a head is very different from book to book.
How to Choose the Best Sportsbook
In order to get the best bang for your buck while betting on sports, you must shop around and find the best lines. This is money-management 101, but you’d be surprised at how many bettors only have one sportsbook to wager with. As I mentioned, sportsbooks are free to set the odds however they see fit, which means some will have better odds than others. The Chicago Cubs may be -180 at one book and -190 at another. The difference of .10 cents won’t break your bankroll right on the spot, but it adds up down the line.
If you like to play parlays, find a book that offers good returns for a winning parlay bet. Some books offer a percentage on top of your winnings depending on how many teams is in that parlay. If you are a big point spread player, some sportsbooks offer up lines higher or lower (depending on what side you’re playing) than other sportsbooks and some sportsbooks have a points rewards system. If you look hard enough you will find something that fits your style of play.
Most Popular Sportsbooks
Since very few places recognize gambling as being legal, the most popular sportsbooks are in Las Vegas, Nevada. This is the betting capital of the world and during events like the NFL playoffs or March Madness, it is incredibly hard to find a seat in these facilities to enjoy the games. Tourists from outside of Nevada flock to Sin City in hopes of turning a couple bucks into much more. If you ask 10 people which sportsbook is their favorite, they will likely all tell you a different answer. Some of the more notable “sportsbooks” in Las Vegas include Westgate, Caesar’s Palace and the MGM Mirage.
In today’s day and age, online sportsbooks are becoming more and more prominent. These are sportsbooks that have a physical location outside of the United States, but accept clients from all over the world. These kinds of sportsbooks are also referred to as an offshore book. The concept is basically the same as a normal sportsbook except everything is done online with a few clicks of your mouse or taps of your fingers on your phone. Some of the more popular online sportsbook are 5Dimes, Bovada and Bookmaker.
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