Punters often choose to make different wagers with different providers because of various factors. One of the biggest reasons punters make wagers with varying betting sites is that punters get multiple odds from other sports betting sites for the same chance. Punters benefit because different odds mean higher competition between sports betting services and more profits for punters. Apart from competing and attracting new punters, sports betting sites also utilize other odds for legal, risk management, or financial reasons.
Different Betting Odds
Different sports betting sites have other betting odds because of the difference in wagers made with the site, as a hedge to manage risk, monopoly over specific betting markets, differences in taxes, and enabling punters to access value betting situations.
1. One Sided Wagers
Sports betting sites set odds based on the game’s result and bets received for a particular outcome. Essentially, if several punters make the same wager with one sports betting site, then the site is incentivized to change the betting odds to even the bets made. The sports betting site changes the betting odds to attract more wagers on the other team or other betting outcomes.
2. Expected Results
Sports betting sites set odds based on the expected results of a game. The odds placed on the desired results give a punter an indication of which direction the development of the match is likely to be. While most sports betting sites initially set odds based on the expected results of a game, other factors can cause odds to change before or at the start of a game. The odds can change before the game because critical players get injured, managers make excessive squad changes to the starting lineup, a drop in form before the game, etc. During a game, the odds can change based on substitutions, goals scored, possession, shots on target, etc. Moreover, different sports betting sites choose to change odds on wagers based on multiple factors, with each element given an extra level of importance depending on the online betting platform.
3. Different Betting Options
The number of options available impacts the odds for different betting markets on sports wagers. Generally, if a sports betting site has limited betting markets, then a few high-stakes changes can result in a shift in odds. More betting options incentivize betting websites to spread risk across multiple betting markets. Effectively, a few high-stakes wagers don’t have a significant impact on chances.
3. Access To Bonuses
In a way, access to bonuses and incentives is a cost to the casino. An online casino can cover these costs by including them in the price of making a wager. Alternatively, a gambling website can use affiliate services to give punters access to multiple bonuses. Access to various bonuses through affiliates enables a punter to win more through bonuses and higher odds on wagers. Finding the right match between bonuses and odds is the best value betting strategy.
Hedging is an essential component of any gambling service. Online sports betting services hedge their wagers as part of a more extensive risk-management process. Risk management ensures an online sportsbook doesn’t run out of money or gets bankrupt should an adverse set of events occur. In some cases, online betting services can change the odds of a particular wager to make it more attractive or less attractive to punters.
5. Value Betting Situations
Value betting situations result from different sports betting services providing other odds at different points in time. A punter making a wager can compare the odds listed by various services before selecting the highest odds. Essentially, competitive odds offered by multiple sports betting services enable value betting situations for punters from time to time.
6. Different Tax Regimes
Odds on sports wagers depend on the tax laws of each respective country and the country or State the online website is registered to operate. Higher taxes generally mean lower returns because a higher tax rate leaves the online website with no choice but to lower the returns on some or all wagers. Taxes are one of the main reasons legitimate sports betting websites register and get gambling licenses in countries with lower or no taxes on gambling, such as Malta.