Why Online Sportsbooks Are a Better Bet Than Land Based Alternatives

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The sports betting industry has long been dominated by online sportsbooks, and for good reason.

The United States sportsbook market has been tethered to Las Vegas and the offerings available in Sin City, as federal law prevented sportsbooks in all but four US states, courtesy of the Professional and Amateur Sports Protection Act of 1992 ("PASPA).

All that changed on May 14 when the United States Supreme Court ruled that states could choose to draft and regulate their own laws pertaining to sports betting. New Jersey's effort to bring sports betting to Atlantic City brought about the ruling from the nation's highest court.

The professional sports leagues and the NCAA argued vehemently that sports betting would threaten the sanctity of their games if allowed outside the confines of Nevada, but this was a losing hand. New Jersey was the first to bring sports betting to Americans looking to wager without restrictions. Delaware, one of the four states exempt from the old legislation, previously allowed their residents to wager on parlay style bets prior to the ruling of the Supreme Court. Delawareans are able to wager now on the full sports card — whether straight bets, parlays, exotic wagers — at three local casinos, Dover Downs, Delaware Park, and Harrington Raceway and Casino.

Sports betting is now expected in at least half of US states by 2020. Sportsbook Review is in the process of forming a legal state tracker that maps each state's plans to offer legal sports betting. But, what does legal sports betting mean for a player looking to get the best bang for his or her buck? More vigorish, for starters.

Draft Kings Sportsbook, for example, is offering 30 cent lines on MLB games for their players.  A forum poster at RotoGrinders, a popular fantasy sports betting forum, had the following to say: "Let's have reasonable lines please. If DK has 30 cent lines, just keep playing offshore. Pretty easy in most states with a bitcoin account."

Small edges matter. The old adage is that players looking to appreciate the value associated with small edges should walk down any street on the Las Vegas strip and look up at the towering casinos. Players who wager daily, whether recreational or professional, desire better margins so that they win more over the long-term. This is referred to as expected value or EV.

While land based shops might offer the peace of mind of being able to collect cash in-person, or in some cases the convenience of being able to wager at home, online sportsbooks currently offer more value in that players pay less in vig and can rake in more when they are in the black than with sportsbooks across the street.

Sportsbook Review's rating guide compares over 190 online sportsbooks by feature, including those that deal reduced juice (lower vig) and provide bonuses to players for their deposits. SBR will continue to monitor the status of the US based gaming market and provide updates to players as more states throw their hat in the ring and bring sports betting to Americans.
 

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