When it comes to any major sporting event, it is fair to say that interest is generally high and although this primarily comes from offering support either in attendance or at home, there is another important aspect to consider.
Because where there is a championship to be won, there is also usually a substantial amount of betting activity behind it and it is this gambling explosion over the past years, which has increased the love of sport for so many people.
If only because supporters can marry up the joy of following their favorite team or athlete with the thrill of winning a sizeable financial reward and as the saying goes “it matters more when there is money on it”
While with a proliferation of sportsbooks now available, gambling in Pennsylvania has seen a huge uptake in recent times, and for those who do like a flutter every now and again, they may have noticed a somewhat recurring feature.
A feature that sees one sporting event priced differently on two separate sportsbooks and it is this variation that often leaves punters rather confused. That is until the end of this article that you are reading.
Because now we are going to shine some light as to why this happens and more importantly, how you can make best use of such variation. Which means we are going to need a starting point and as always, the best starting point is the beginning.
Let’s take any high-profile sporting event, for example, the FIFA World Cup final. For many it is the pinnacle of competitive sport, as 32 nations aim to become the dominant force within the realm of soccer.
If we were to use this thrilling game as a reference point, there would undoubtedly be a large amount of money placed on the outcome of the game and all the individual sub-markets (goals, shots etc) that go with it.
While with all that money being placed in person or online, sportsbooks companies want a slice of this rather large pie and the best way to get a punter’s attention is to offer more inviting odds than one of their rivals.
If France were to meet England in the final and you wanted to back the English to win with one sportsbook, the odds may be -150 (on the assumption that they are favourites). However, with another, the odds may be shorter at -140, in a bid to earn your business instead.
Fundamentally, sportsbooks want a lot of volume when it comes to big sporting events and for those who are prepared to undercut the other major players in the betting landscape, they can then call on a slew of new customers.
Not only that, but if one sportsbook gains a considerable amount of traction for a single event or outcome, it may have to shorten the odds of such a thing happening. If only because, financial ruin may present itself, if they do not.
If something is backed too often or becomes too popular, the value within the market will then subside and this is where any good sportsbook will cover their losses and vary the odds that were previously on offer.
However, custom is not the only reason why you may see a price difference and sometimes it comes down to inside knowledge. A case of who possesses the most insight before a sporting event is about to take place.
Because when it comes to betting of any kind, knowledge is certainly the key, and that knowledge also provides the sportsbooks with power. If they can glean an additional piece of information, they can then price that event accordingly.
Not all information will work its way to every sportsbook at the same time or even at all. And for those who find an edge over their competitors, they may shorten or lengthen the price of a sporting outcome.
Which is why you may see wild variations across a range of companies and at that point, it becomes a test as to whose information ended up being correct and whose, will inadvertently pay out some welcome winnings if it was wrong.
So now you are armed with this information, this should provide you with a greater amount of insight into why, things that should be the same are often different and now you know why, all you need to do is place your next bet and wait to collect your winnings.