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Why Comparing Odds is Crucial for Betting Success?

Although many punters pay very little or zero attention to the odds comparison, we can’t emphasize enough how important it is for a long-term profit. It genuinely makes all the difference between winning and losing. You may believe that checking multiple sportsbooks is a waste of time. However, when you bet on the highest possible odds every single time, you will significantly increase the chances of winning and making money long term.

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A textbook example of the odds comparison impact on the bettor’s success

Let’s say we have a player who only has an account at William Hill Sportsbook. He is happy there and has no intentions of moving his bankroll elsewhere. While William Hill may offer the best odds in the industry for certain matches, they can by no means beat all of the competitors on all matches every single time.

So, we’ll take an example of a player backing the Los Angeles Lakers to win all of their matches in the season. The Lakers have a 60% (just a random example) of chances to do so. He is always backing them at -200 odds at William Hill. He bets $100 on every game and wins 60 of 100 wagers. He should thus win $3,000 for the season (60 winning picks at the -200 odds). However, he is at the same time losing $4,000 on 40 losing bets ($100 each). He is thus losing $1,000 for the season.

We have another player who fancies the odds comparison and always looks for the highest value on the market. He will go to DraftKings, FanDuel, Bet365, SugarHouse, etc., and check which sportsbooks offer the best odds for the Lakers to win for every game individually. One evening it may be FanDuel, the other Bet365, and so on.

Unlike the first player, he will catch the Lakers’ win at -133 odds all the time. By successfully landing 60 of 100 wagers, he will gain a profit of $4,500. He will still lose $4,000 for the 40 losing picks. However, he will end the year with a $500 profit.

A massive difference between winning and losing

The aforementioned example perfectly shows the huge distinction the odds comparison can make in sports betting. Just think of years of betting and how much more you could have won had you always gone for the highest possible odds. The difference between 1.60 and 1.70 odds may seem little, but it makes such a huge difference long-term.  This is one of those things you must always keep in mind when considering your investment options.

This is exactly the main point of understanding the odds comparison. It does not play a big part in every bet individually, but in the long run (years of betting), it can be a crucial factor between winning and losing.


Interesting Related Article: “How to Choose the Best Sports Betting Software