Sportsbooks, and gaming providers, in general, are very cautious when it comes to setting odds, and that is understandable. Their entire business model is predicated on coming out on top, whatever happens, and that means that most regulated licensed sports betting sites will offer very similar betting odds, with slight changes according to where they may feel they can take a risk.
In much the same way as users of sportsbooks are taking a gamble, so do the sportsbooks themselves, albeit their gamble is significantly more of a calculated risk, not least because they don’t want to end up being hit with massive losses, which does occur from time to time, especially if an underdog emerges victorious in a showpiece event.
Similar Odds Offered by Regulated Sportsbooks
As a sign of how similar the odds offered by sportsbooks tend to be, let’s take a look at an event that is upcoming; in this case, it’s the NBA clash between the Denver Nuggets and the Utah Jazz.
Below are the odds offered by BetMGM
Spread Total Moneyline
Denver Nuggets -6.5 O 222.5 -275
Utah Jazz +6.5 U 222.5 +210
Below are the odds offered by DraftKings
Denver Nuggets -7 O 222.5 -265
Utah Jazz +7 U 225.5 +225
As you can see from this example, there is barely any difference between what’s offered by these two leading brands. Indeed their over and under odds are precisely the same, and the Moneyline is very similar, albeit with slight differences between what’s offered.
So in terms of the different odds offered by different sports sites, the changes are minimal and could actually relate to a number of factors. One site may actually be more clued up when it comes to team selection, injury news, or form.
Also, you should be aware that the odds offered by a site may well change in the run-up to the event, so what appears to be different at one point may actually end up being very similar just before the game itself starts.
One area you may find more of a change in terms of the odds offered would be in the futures market, where one site, for instance, may present very long odds on a popular underdog in order to attract interest, and in these markets, you will notice more variety in the odds offered by competing brands.
Occasionally the odds offered by a brand could be changed due to activity in the market. For instance, if a customer places a massive bet on a particular outcome, that may lead the provider to believe that crucial information may be forthcoming, or they might alter their odds for fear that a number of others will follow suit. This is less common but does occur, especially in the world of horse racing betting.
Sites that offer very drastically different odds to the others in the market are very rare and could actually be a sign of internal issues at the brand.