The importance of shopping around
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It is important to shop around for the best odds and lines
Ok, so you've got your picks for this week's games (however you got them, and whatever your sport is). Now what?
Well you could just rush out, place your bets, and wait with baited breath for your inevitable triumphs.
Or you could have a bit of a scout around, and pick up the best line.
But why would you want to do that?
Well, simply put, a couple of minutes looking for the best line, could make you a little bit extra on your bets. It's basically free money, and who doesn't love that.
For example, looking at the Giants to win the NL West this season (2005), I can find odds between 1.91 and 2.60 at various online bookmakers. This will make a huge difference when at payout time. $10 at 1.90 returns $19, at 2.60, it returns $26. That's $7 difference on a $10 bet - definately worth the five minutes it took me to open a few websites (I use Firefox, and have all my sportsbooks in one bookmark folder - this means I can open them all with one click).
Obviously, the closer the event is to happening, the smaller these discrepancies will be. However, they are still there. For the Manchester United (who hates Man United - we do) vs Man City match this weekend (soccer for those of you not familiar with the names), I can find odds from 3.00 to 5.00 for City, 1.72 to 1.85 for United, and 2.80 to 3.40 for the draw.
If I was willing to search through the various betting exchanges as well, I could find better odds, but I'd have to factor in the commission on winnings, and the possibility that the odds will change (because of a rush on one side of the market) before I can get my cash on. If I was making a big play, I definately would look into all the options, but for my day to day bets, just comparing the bookmakers probably improves my returns by about 5%.
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