The New York Post ranks the best legal sports betting sites in America, with a comprehensive guide on all the best online sportsbooks, and the best sports betting bonuses out there.
More on the top USA Sports Betting Sites
- Online Sportsbook of the Week
- Top Sports Betting Sites Ranked
- Online Sports betting Legal States
- Online Sports Betting FAQs
- The Best of today’s Sports action
- What are the benefits of online sports betting?
- Online Sports Betting Bonuses Explained
- Daily Fantasy Sports: An Alternative to Sports Betting
- Legal vs offshore betting sites in the USA
- Retail Sportsbook Betting
- Sports Betting Methods
Online Sportsbook of the Week – bet365 Sportsbook
Being a leading international sportsbook, bet365 is near the top of our list because it truly understands the sports betting industry. More sports are available at bet365 Sportsbook than its competitors when it comes to wagering on worldwide events.
There are tons of bonuses available every day for both frequent bettors and new customers at bet365 Sportsbook. Many of these offers focus on odds boosts, early payout incentives, and parlay betting across numerous sports. Right now, bet365 is offering new customers a First Bet Safety Net up to $1,000 if their first bet settles as a loss.
That’s why it’s one of the best sports betting sites.
ESPN BET: Now Live
ESPN BET has officially launched! Make sure to use our promo code NYPOST to receive up to $250 in bonus bets from the new sportsbook.
Best Online Sports Betting Sites 2023
| Rank | Betting Site | Bonus | Terms & Conditions | Bet Now |
| 1. | Fanatics Sportsbook | Bet $10+, Get $40 in Bonus Bets (up to $200) over your first 5 Days! | Hope is here: (800)-327-5050 or gamblinghelplinema.org. Must be 21+. Play it Smart from the Start. http://GameSenseMA.com Please play responsibly, for help visit mdgamblinghelp.org or call 1-800-GAMBLER GAMBLING PROBLEM? Call 1-800-GAMBLER (OH) or Call or Text the Tennessee REDLINE 1-800-889-9789 (TN) GAMBLING PROBLEM? Call 1-800-GAMBLER (KY, WV) | Visit Fanatics |
| 2. | BetMGM Sportsbook | Get Your First Deposit Matched up to $1,500 in Bonus Bets! | New customers only. Must be 21+. AZ, CO, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, OH, PA, TN, VA, WV, & WY only. Full T&C apply (Offer not available in NY, offer is different in KY). | Visit BetMGM |
| 3. | bet365 Sportsbook | Bet $5, Get $150 in Bonus Bets! Get a First Bet Safety Net up to $1000! | New players only, 21 or older. Available in KY, NJ, CO, IA, OH, VA only. Deposit required. Bonus bets added to bonus bet balance. Bonus bet stake excluded from returns. T&Cs, time limits and exclusions apply. | Visit bet365 |
| 4. | FanDuel Sportsbook | Bet $5, Get $150 in Bonus Bets if First Moneyline Wager Wins! | New customers only. 21+. Available in AZ, CO, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, WY. T&C’s apply. | Visit FanDuel |
| 5. | ESPN BET | Bet Anything, Get $250 in Bonus Bets | New users that are 21+ only. Must be physically present in AZ, CO, IA, IL, IN, KS, KY, LA, MA, MD, MI, NJ, OH, PA, TN, VA, or WV in order to wager. Players must sign up using our specified promo code, and then place an “Eligible Wager” on an “Eligible Game” during the promotion period. | Visit ESPN BET |
| 6. | Caesars Sportsbook | First Bet on Caesars up to $1,000 | New players only, 21+. Available in AZ, CO, IA, IL, IN, KS, KY, LA, MI, NJ, NY, TN, VA, WV only. Full T&C apply. | Visit Caesars |
| 7. | BetRivers Sportsbook | Get a 2nd Chance Bet up to $500 to bet Any Market! | New players only, 21+. $500 offer available in IL, IN, LA, MI, PA, & VA only. $250 offer available in CO & NJ. $100 offer available in AZ, IA & NY. In order to participate in this promotion, the player needs to make a first deposit (of at least $10). Full T&C apply. | Visit BetRivers: Arizona Colorado Illinois Indiana Iowa Louisiana Michigan New Jersey New York Pennsylvania Virginia |
| 8. | PointsBet Sportsbook | No Welcome offer currently | Visit PointsBet | |
| 9. | Sports Illustrated Sportsbook | Bet $20, Get $200 in Bonus Bets | New users only, 21+. Gambling Problem? Call or text 1-800-GAMBLER. Available in CO only. Full T&C apply. | Visit SI Sportsbook |
| 10. | Borgata Sportsbook | Bet $20, Get $100 in Bonus Bets | NJ players, 21+, first deposits only. Minimum amount to deposit: $20. Customers claiming this Sports Promotion will not be eligible to receive any other “New Customer” bonus bet sports promotion offer. Full T&C apply. | Visit Borgata |
1. Fanatics Sportsbook
Fanatics Sportsbook is still relatively new in the online sportsbook realm, but its stature within the professional sports industry as a whole bodes extremely well for its product moving forward. Right now, Fanatics Sportsbook is promoting a new customer offer that lets new users bet $10+, get $40 in bonus bets (up to $200) over your first five days!
The apparel giant’s online sports betting arm is currently only available via its mobile app in select states, however, Fanatics is expected to expand its operations into a number of new jurisdictions soon.
Those that have access to the Fanatics Sportsbook mobile app can dive into a myriad of different ways to wager, from totals to player props and everything in between. Fanatics Sportsbook users will even be able to rack up FanCash while placing wagers with the site that can be spent on new apparel on Fanatics.com or exchanged directly in-app for bonus bets.
- Read more on the Fanatics Sportsbook Promo Code
2. BetMGM Sportsbook
BetMGM stands above others for betting experience. They boast a growing range of sports to bet on, with strong odds and plentiful live streaming broadcasts.
New bettors can claim BetMGM’s exclusive new customer offer to get a Deposit Match up to $1,500. It comes with a 20% deposit match worth up to $1,500 in bonus bets, which means if you deposited $400, you would get $80 in bonus bets, and so on up to $1,500 (meaning $7,500 is the max initial deposit for this offer).
Their mobile app features a simple design and provides easy navigation, making sure you’re always finding what you’re looking for. It’s hard to find any flaws with BetMGM, with their welcome offer being very competitive amongst other sportsbooks.
Frequent promotions and bonus offers make BetMGM exciting to play with, catering to all different types of bettors. If you’re uncertain about which betting site to start with, then look no further than BetMGM.
*This offer is not available in NY, KS & DC. KY offer is Bonus Bets If Your First Bet Doesn’t Win, not a deposit match.
- Read more on the BetMGM Bonus Code
3. bet365 Sportsbook
A global sportsbook, bet365 knows the sports betting game inside and out, which is why it tops our list. The site offers plenty of sports to bet on across the world, more so than its competitors.
The two new customer offers from bet365 allow new users to choose between a bet $5 and get $150 in bonus bets special or a First Bet Safety Net up to $1,000!
There are a ton of bonuses that are available for new customers and for regular bettors on a daily basis. Many of these deals focus on bonus bets, early payout offers, and parlay betting for various sports.
Despite not being legal and licensed in as many states as other big names in sports betting, there is no doubt that bet365 is still an incredibly strong online sports betting site.
- Read more on the bet365 Bonus Code
4. FanDuel Sportsbook
Like other sportsbooks, FanDuel initially specialized in daily fantasy sports, but now has become one of the best online sports betting sites in the US.
In all active FanDuel states, new customers can get $150 in bonus bets by placing a first bet of $5+. If your first Moneyline wager settles as a win, you’ll receive $150 in bonus bets.
Boasting one of the biggest betting markets out there, FanDuel also presents an impressive geographic footprint. In most states with legal sports betting, FanDuel has a presence, with it often being one of the best in these states.
Their welcome bonuses are simple and easy to use, with daily bonuses and in-play markets all very enticing. There’s no doubt that FanDuel deserves to be high up on our list, and you will not be disappointed.
- Read more on the FanDuel Promo Code
5. ESPN BET
ESPN BET is the newest sportsbook to add to your portfolio. Their launch was hyped for months and it is finally here.
Users can play with daily boosts, celebrity exclusives, and other promos already on the new app. We are also excited to see what is in store for Monday Night Football soon on the app.
- Read more on the ESPN BET Promo Code
6. Caesars Sportsbook
There are many reasons as to why Caesars is so high on our list. Their new customer offer is one of the largest and most generous you’ll get on any legal sports betting site, and they also provide lots of ongoing bonuses for existing customers.
They offer competitive odds on all the biggest sports out there, with some smaller, less popular sports markets also available. Their betting limits are high, which is great for high rollers, with loads of payment choices available.
Now with a robust live streaming function, their site is simple to use and caters to new and experienced players. With a great new customer incentive, there’s not much wrong with Caesars Sportsbook.
- Read more on the Caesars Promo Code
7. BetRivers Sportsbook
CLICK HERE FOR Illinois, Indiana, Louisiana, Michigan, Pennsylvania, Virginia ($500 in 2nd Chance Bets)
CLICK HERE FOR Colorado, New Jersey ($250 in 2nd Chance Bets)
CLICK HERE FOR Arizona, Iowa, New York ($100 in 2nd Chance Bets)
BetRivers’ sign-up offer and available betting markets are on par with other highly rated bookmakers, with strong odds to boot. Just make sure to note the different offers depending on your location, as most states are welcomed with $500 Bet Insurance, but it is $100 in New York, Iowa, and Arizona, and $250 in Colorado and New Jersey.
Their live streaming feature and their extremely easy to use mobile app give BetRivers some plaudits other sportsbooks may not gain. The BetRivers sportsbook app is their particular strongpoint, engulfing everything that a great sports betting app should have.
They are professional, experienced, and courteous, with great customer service options should you need any help. There’s a lot to like about BetRivers, but as always, there’s still room for improvement.
- Read more on the BetRivers Bonus Code
8. PointsBet Sportsbook
- Read more on the PointsBet Sportsbook Bonus Code
9. SI Sportsbook
Only live in a couple of sports betting states, Sports Illustrated Sportsbook is still one of the newer additions to the sports betting scene in the USA.
A fresh and slick interface greets bettors upon arrival, with SI sportsbook catering to all levels of betting. The relatively new operator boasts many of the user-friendly and in-demand features found on the 888 Sport platform.
Their new customer offer is easy to claim, and gets new users off to a fantastic start to life with SI Sportsbook. The new kid on the block, but don’t be fooled. SI Sportsbook knows a lot about the world of sports betting, and is not one to pass up on.
- Read more on the SI Sportsbook Promo Code
10. Borgata Sportsbook
One of the older faces in online sports betting, Borgata (operated by BetMGM) is a safe choice to place your sports wager. Their welcome offer is easy to claim, and despite not being as generous as other sports betting sites, still boasts a healthy first promotion.
Their mobile betting app is slick and easy to use, and their customer ratings are fantastic. Borgata has been live for a bit in the NJ sports betting scene, and we expect them to improve over the coming months and years.
- Read more on the Borgata Sportsbook Bonus Code
Everything you need to know to bet on sports like a pro:
- Where is sports betting legal in the US?
- What is a parlay bet?
- What is over/under betting?
- How to read and calculate sports betting odds
Is Online Sports betting legal in my state?
| State | Online | Retail |
| Alabama | X | X |
| Alaska | X | X |
| Arizona | ✔ | ✔ |
| Arkansas | ✔ | ✔ |
| California | X | X |
| Colorado | ✔ | ✔ |
| Connecticut | ✔ | ✔ |
| Delaware | Not yet live | ✔ |
| Florida | Not yet live | Not yet live |
| Georgia | X | X |
| Hawaii | X | X |
| Idaho | X | X |
| Illinois | ✔ | ✔ |
| Indiana | ✔ | ✔ |
| Iowa | ✔ | ✔ |
| Kansas | ✔ | ✔ |
| Kentucky | ✔ | ✔ |
| Louisiana | ✔ | ✔ |
| Maine | Not yet live | Not yet live |
| Maryland | ✔ | ✔ |
| Massachusetts | ✔ | ✔ |
| Michigan | ✔ | ✔ |
| Minnesota | X | X |
| Mississippi | X | ✔ |
| Missouri | X | X |
| Montana | X | ✔ |
| Nebraska | Not yet live | ✔ |
| Nevada | ✔ | ✔ |
| New Hampshire | ✔ | ✔ |
| New Jersey | ✔ | ✔ |
| New Mexico | X | ✔ |
| New York | ✔ | ✔ |
| North Carolina | Not yet live | ✔ |
| North Dakota | X | ✔ |
| Ohio | ✔ | ✔ |
| Oklahoma | X | X |
| Oregon | ✔ | ✔ |
| Pennsylvania | ✔ | ✔ |
| Rhode Island | ✔ | ✔ |
| South Carolina | X | X |
| South Dakota | X | ✔ |
| Tennessee | ✔ | X |
| Texas | X | X |
| Utah | X | X |
| Vermont | Pending | X |
| Virginia | ✔ | ✔ |
| Washington | X | ✔ |
| Washington DC | ✔ | ✔ |
| West Virginia | ✔ | ✔ |
| Wisconsin | X | ✔ |
| Wyoming | ✔ | X |
Since the 2018 removal of the Professional and Amateur Sports Protection Act (PASPA), the number of states that offer legal sports betting has massively increased.
There are now over 20 states (plus Washington DC) that offer some form of legal online betting, with each state having different numbers of sportsbooks available to bet on.
While it’s fantastic that a large number of states have legalized online sports betting, there are still plenty of states yet to legalize it.
Prefer Online Casinos?
USA Online sports betting FAQs
Is online sports betting legit?
Online sports betting is completely legal and legitimate when you play with a site that’s officially licensed in the state where you are depositing, betting or withdrawing.
Your money is safe with a licensed sportsbook and with excellent customer service facilities available, there is plenty of help available should you need it.
Is online sports betting legal?
Online sports betting at this point in time is legal in some form in over 20 states plus Washington DC.
Not all states have the same sports betting capabilities, with different states legalizing different types of wagering. It is important to check for your state for the rules and regulations.
An increasing number of states are moving toward legalizing online sports betting, so be sure to check back to this list.
How do I bet online?
You will be able to bet online legally via any of the sportsbooks licensed to operate in your state.
All legal and licensed sportsbooks are accessible via their websites. Many of the best sportsbooks have apps for iOS and Android devices, allowing you to play via your mobile device.
As long as you are over the age of 21 and within New York state lines, you are able to wager and bet with any of the licensed sportsbooks in NY.
What sports can I bet online in the USA?
All of the major US sports are available. NFL football, MLB baseball, NBA basketball, NHL hockey and MLS soccer are the most popular ones to bet on.
The top online sportsbooks tend to have the most diverse ranges of sports and odds, with everything from UFC, boxing, tennis and NASCAR to darts, rugby, badminton and more.
Can I bet on College Sports?
Yes. It’s legal to bet on college sports matchups in some states. Some states do have rules where you cannot place bets on universities in your state, or on college sports events taking place in your state.
It is definitely worth researching your state’s rules for college sports betting before you start to think about who’s going to win March Madness.
The Best of today’s Sports action
Football fans will be treated to a crucial Week 11 NFL matchup between the Cincinnati Bengals and the Baltimore Ravens. The Bengals are riding a four-game winning streak, while the Ravens have won five of their last seven. The Bengals have a strong away record, while the Ravens are looking to rebound after a division loss. Both teams are coming off recent games where they surrendered significant leads.
The NBA has an intriguing slate as well. The struggling Warriors host the surging Thunder on Thursday, while the Nets take on the red-hot Heat in Miami. The Warriors will be without Stephen Curry and Draymond Green, presenting a challenge against the Thunder’s full squad. Meanwhile, the Nets look to hand the Heat their first loss in seven games.
The NHL has a full slate of nine games on Thursday night. Some highlights include the Devils and Penguins in an intense Metro division battle, the Golden Knights and Canadiens in a clash of two talented teams, and a Western Conference matchup between the Flames and Canucks. With so many games on the schedule, it should be an exciting night for hockey fans.
Major Sporting Events in November 2023
| Date | Sport | Event |
| Ongoing | Football | NFL Regular Season |
| Ongoing | Basketball | NBA Regular Season |
| Ongoing | Hockey | NHL Regular Season |
| Ongoing | Basketball | NCAA Division Regular Season |
Key Online Sports Betting Regulations
In order to wager your money on sports and withdraw any winnings in your state, you must be at least 21 years old, and be within state lines.
Bettors will only be allowed to place bets at one of the legal and licensed online sportsbooks in your state. It is necessary to check which online sportsbooks are legal and licensed in your state before playing.
Online Sports Betting Bonuses Explained
There are plenty of different types of new customer offers which you can claim using the various sportsbook promo codes on this page. The Post breaks down these different types of offers, giving you some pros and cons of the different sign-up offers.
| Bonus Offer | How it Works | Advantages | Disadvantages |
| No Deposit Bonus | Normally a small bonus bet claimed just for signing up | Bonus bet to play with, no need for a deposit | Often large wagering and minimum odds requirement |
| First Bet Offer | You will be awarded the balance in bonus bets if it doesn’t win | Covered if your first bet is a loser | Stake returned as bonus bets, which will require wagering and minimum odds |
| Deposit Match | Your first deposit, matched by the sportsbook in the value of bonus bets | Great way to start your new account, a healthy balance of bonus bets | Wagering requirements, ineligible for instant withdrawal |
| Odds Boost | Some online betting sites will provide odds boosts to increase the returns of your wager | A chance to win extra cash on bets that would win anyway | Odds often boosted on underdogs, making the bet seem enticing |
| Parlay Insurance | If one leg of a parlay lets you down, you’ll get your stake back in bonus bets | Backs up your parlay, with less legs needing to win to ensure a payout of some kind | Minimum number of legs required, minimum odds sometimes required |
| Score Bonus | An offer for extra winnings for certain plays in games, such as touchdowns or home runs | Great way to boost returns on games you’ve not picked so well in | |
| Early Payout | If the team you’ve back are winning by a certain amount, the bet will be settled as a winner | Covers your bet should they go onto lose, allows faster withdrawals |
Daily Fantasy Sports Betting: An Alternative way to wager
While many states have legalized online sports betting, there are still a large number of people for which sports betting is not possible.
For those of you who don’t live in a state where online sports betting sites are now legal, daily fantasy sports (DFS) betting is the next best thing. DFS is an excellent alternative to regular sports betting sites, as it allows you to play for real money on sports in a fantasy setting.
There are over 40 states which have legalized DFS, far more than the number of states that have legalized online sports betting.
DraftKings and FanDuel, two of the best online sports betting sites in the USA, have fantastic Daily Fantasy sports sites, with great new customer offers available.
USA Sports Betting Sites Features
| 🏈Operator | ⏱ Live betting | 📺 Live Streaming | 💰 Parlay Betting | 🤑 Same Game Parlay | 📱 App Available |
| BetMGM | ✓ | ✓ | ✓ | ✓ | ✓ |
| bet365 | ✓ | ✓ | ✓ | ✓ | ✓ |
| FanDuel | ✓ | ✓ | ✓ | ✓ | ✓ |
| Fanatics | ✓ | X | ✓ | ✓ | ✓ |
| Caesars | ✓ | ✓ | ✓ | ✓ | ✓ |
Live Betting
Live betting involves wagering on an event after it has started, and up until its conclusion. For example, if you placed a bet on the Giants to win at half-time of their game, this would be a live bet.
Parlay Betting
A parlay bet combines two or more wagers into one bet, and the bet is dependent on all of the individual wagers winning. The benefit of this is that the total payout of the parlay is higher than individual bets on all legs of the parlay.
For example, you can combine the moneyline wager of the Giants, Jets and Yankees, and get a higher payout than if you put three single wagers on all three teams to win the moneyline.
Same Game Parlay
Same Game Parlays allow users to combine multiple bets from the same game into one bet.
For example, you could combine Saquon Barkley to score a touchdown, Giants to cover the spread and over the total points into one wager. All of the legs in the same game parlay must win in order to payout.
What are the benefits of betting on sports online?
Sports bettors have a number of benefits when it comes to legal online sports betting.
They include:
- Accessibility – Online Sports Betting can be done from anywhere
- Promotions and Bonuses – Fantastic offers to take advantage of
- Variety – More markets and props than retail sportsbooks
- Best Odds – Regularly updated odds providing the best lines
- Live Streaming – Free live sports with many online sportsbooks
- Payment Options – Many choices to choose from, suiting everyone’s needs.
Convenience
Betting on sports has been made easier than ever before, from pulling your mobile phone out of your pocket, opening up your laptop or loading up a tablet.
For many people, traveling to your nearest sportsbook is not convenient at all. This may be far away, and limited in the number of people that can visit. There are plenty of online sportsbooks to choose from, and by doing so from the comfort of your own home, there’s no easier way to play.
Promotions and Bonuses
Perhaps the main attraction of online sports betting are the fantastic bonuses and promotions. New customer offers from online sportsbooks give new and existing customers the potential to earn thousands of dollars worth of bonus cash and bonus bets.
The most profitable opportunities come through new customer sign-up offers and welcome bonuses. Most importantly, you are not limited to one sportsbook, allowing you to make the most of welcome bonuses for as many sites as you please.
Variety
The best selection and extensive list of sports you can bet on is levels ahead with online sports betting. This allows you to bet all in one place, and all on the same site.
What comes with a long list of sports, is a huge variety of markets and props. You’ll find more types of bets online than you will at a retail sportsbook, and you’ll also be able to bet live on sports games.
Best Odds
Different sportsbooks will often have different odds on certain markets and game lines, so it is easy to check between different sportsbooks to see where you’re getting the most bang for your buck.
Live Streaming
A mainstream feature in the best online sportsbooks nowadays, live streaming is available for certain games. You’re able to watch games not available through your regular cable television, whilst being able to bet live at the same time.
Not all online sportsbooks have this feature, so it is worth checking out our table of features to check which sportsbooks offer live streaming.
Payment Choices
Depositing money into your account is one of, if not the most important aspect of online sports betting.
All of the best betting sites in this piece will have a variety of ways in which you can deposit funds into your account, with the process for these often being relatively simple and easy to understand.
The best sportsbooks will have a larger number of payment options available, allowing you to choose which method of payment suits you best.
Some of the most popular deposit methods that the best online sportsbooks will offer include:
- Debit Card
- Credit Card
- Cash
- E-Check
- Neteller
- PayPal
- Sportsbook Specific pre-loaded card
When it comes to withdrawal methods, all of the best online sportsbooks will offer a similar number to the deposit methods they have in store.
With the top sports betting sites, users will most likely be able to withdraw using any of the deposit methods offered, allowing users to both put money into, and take money out of, their accounts using the exact same option.
This makes for a much easier solution when it comes to players depositing and withdrawing funds, as the best bookmakers out there won’t require you to have alternative payment methods when you deposit and withdraw money from your account.
USA Legal vs Offshore Betting Sites
Whilst online sports betting is legal in some states, offshore betting sites provide an alternative way to wager for those in states where sports betting is not legal. Despite the fact that offshore betting sites are illegal, there are many offshore betting sites, and a lot of people do wager with them.
A number of the most popular offshore betting sites are located in the likes of Curacao, the Isle of Man, Malta, and Costa Rica.
In terms of USA sports betting, there are no legal offshore betting sites, with a growing number of states legalizing online sports betting. Licensed sportsbooks are now able to operate to avoid players experiencing the issues they would with an offshore betting site.
Having only been legal in some states since 2018, it is very likely that many bettors in the USA would have turned to offshore betting sites.
However, offshore betting sites present a number of issues for those that bet with them may face, such as:
- Lack of US licensing can lead to player mistreatment
- If they fail your money isn’t protected
- Potential Money Laundering involvement
The risks posed by offshore betting sites are not involved when betting with legal sports betting sites. All the best online betting sites, as mentioned in this piece, have strict rules and regulations in order to maintain their licenses to operate legally.
Retail Sportsbooks in the USA
If you prefer to gamble in person, there are many in-person sportsbooks that you can visit in order to wager on sports. It is often the case that states will have legal and licensed retail sportsbooks, despite not having legal online sports betting.
Each state will likely have a larger number of retail sportsbooks available, so it is worth checking which retail sportsbooks are available in your state.
Best Sports Betting Methods
Whilst there remains no correct way of wagering on sports, many bettors use a number of concepts to give them the best chance of winning in the long run.
Value Betting
One of the easiest concepts to grasp, value betting involves analyzing all of the odds a certain sportsbook has for a market, and judging as to whether they’re good value or not.
If you perceive a certain wager to have odds better (higher) than you think they should be, you have identified what is in your opinion ‘value bet’.
By consistently picking out value bets and being successful, you will rack up some nice winnings in the long run.
The Gambler’s Fallacy
The gambler’s fallacy is the idea that the outcome of a certain random event is less or more likely to happen based on the result of a previous event or series of events.
It is by no means a certain way of judging events, as often past events do not change the outcome of future events.
For example, if the New York Red Bulls have won all of their previous five games, those that are unaware of gambler’s fallacy may simply bet on the Red Bulls while ignoring some potentially key factors.
Some of these factors could be: their opponents, injuries, suspensions, upcoming games resulting in a change of tactics, and plenty more.
Those that take gambler’s fallacy into account will most likely be more aware of these factors, and potentially avoid betting heavily without first considering the other factors highlighted.
Beware of the Heavy Favorite
Betting on the favorite may seem like an obvious method to follow, with the sportsbooks giving you a clear option on who’s more likely to win. Some sports have huge favorites compared to others, such as tennis, boxing and basketball.
This method would work, if you had a very large balance, as you will make little profit from each bet. Done over a large period of time, with large stakes placed, you will most likely see eventual profit.
While this method would appear easy, if the favorite doesn’t win, then it can be tough losing a large stake, and you may end up chasing your losses.
Matched Betting/Dutching
The term “dutching” is often used to describe a betting method that ensures profit, taking advantage of bonus bets and requiring more than one sportsbook account.
Essentially, dutching involves betting on markets that are unevenly priced between different sportsbooks, with you betting different amounts on each one to ensure a profit.
For example, BetMGM may price the Buffalo Bills to beat the New York Jets at +300 with a -6.5 points spread, whilst FanDuel may price the Jets to win with a +6.5 point spread at +200.
In this instance, you would need to wager $40 on the Jets and $60 on the Bills to make a profit of $20, with these bets needing to be placed with different bookies in order to succeed.
While $20 profit may not seem a lot, with “dutching,” you are in line to win no matter the result of the game/market you’re betting on, as you are covering both outcomes.
Dutching involves adjusting the amount you bet depending on the odds to ensure that you win the same amount of money no matter which bet wins.
Despite requiring a little more time and effort, it is definitely worth looking more into dutching as a betting method.
Hedge Betting
Hedge betting is fairly similar to “dutching” in the way that you are betting on multiple markets on the same event to ensure a profit.
However with hedge betting, you are betting against a bet you’ve already placed previously once the odds for the other side of the betting have changed.
For example, if you bet on NYCFC to beat DC United at +100 before the game, and then NYCFC take a 2-0 lead, the idea is to then bet the correct stake on DC United at their increased odds to lock in a profit.
This way, if DC United came back to win, the bet you placed when they were losing 2-0 would win, whilst your original bet on NYCFC would lose.
Hedge betting also works for parlay betting as well as individual bets. If you have a five-leg parlay bet that has seen the first four legs win, you can hedge your bets against the team/player you need to win for the parlay bet to be successful in order to secure a profit.
Best betting sites by sport
Best betting sites by bet type
- The best live betting sites in the USA
- The best parlay and same game parlay betting sites
Best betting sites by bet type
We hope you enjoy the companies that we recommend! Just to be clear, please note that we may collect a share of sales or other compensation from the company links provided on this Website. If you have any questions, please do not hesitate to contact us or reference our terms and conditions.