In today’s lesson, we will be discussing the advantages and disadvantages of signing up with multiple bookmakers.
Most of those starting in the sports betting business only open an account with a single bookmaker, some might sign up with two bookmakers and that’s it.
They put their bets in and don’t pay much attention to the odds provided to them by their one and only bookmaker.
For experience sports bettors, they do it differently.
Why Sign Up With Multiple Bookmakers?
The most obvious reason why you should sign up with multiple online bookmakers is that it gives you the ability to shop for the best odds.
This allows experienced sports bettors to make money and save money at the same time.
The difference between the odds of different bookies may be considered small by some.
However, when you’re going to be sports betting in the long run, that small difference adds up over time.
One might think signing up to multiple bookmakers can be time-consuming which is true. But it’s well worth it if you’re going to take sports betting seriously.
Is It Legal To Open Multiple Account Across Different Bookmakers?
Yes, it’s 100% legal.
It is not illegal for you to open multiple accounts with different bookmakers or sportsbooks.
You can sign up to as many bookmakers as you want as long you are eligible. If you can meet their requirements for their new customers, then go ahead and sign up.
The one thing you cannot do is create multiple accounts with one bookmaker. They may view this as a clear violation of their site rules.
Creating multiple accounts is strictly prohibited. Creating new accounts to take advantage of promotional bonuses being offered is also prohibited.
Should players be caught having multiple accounts, the accounts will be suspended. The balance from these accounts may be confiscated.BetOnline.ag Rules
However, no one can stop you from creating an account with multiple bookmakers as this is not a violation of any rules.
When it comes to signing up with multiple bookmakers, the one thing you should be wary of is the way you deposit and withdraw your fund.
As much as you possibly can, always stay under the radar. Bookmakers have the right to suspend your account if you engaged in any suspicious activities.
Pros of Signing Up With Multiple Online Bookmakers
Sign Up Bonuses or Welcome Offers
Are you familiar with free bets?
These are offered by most bookmakers for those who will be opening an account with them for the very first time.
Sign up bonuses or welcome offers are a good way to make easy money when it comes to sports betting.
These free bets will be credited to your account almost immediately after you sign up with a bookmaker that offers one.
The most common welcome bonus that bookmakers offer to the public is the 100% matching of your initial deposit.
If you deposit $100 to your account for the very first time, the bookmaker will match it with $100 worth of free bets that you can use on your betting account.
Have you heard of matched betting?
Matched betting is a betting method done by sports bettors who take advantage of free bets. They usually make easy money out of these free bets.
Free bets are the most important factor for those who engage in match betting as their potential earnings depend on how much free bets they can qualify for.
Another great thing about having multiple bookmakers is you get to chance to enjoy a variety of special offers that these bookmakers offer to their clients.
An example of a special offer is a deposit bonus. If you deposit a certain amount, your bookmaker can give you a boost that ranges from 10%-50% of your deposit.
Another one of these special offers is what most call “guaranteed” or “insured” bets.
Bookmakers will guarantee your first bet in one of their betting platforms like on their in-game wagering or live betting platform.
If your bet loses, they will credit your account with the amount that you wagered in free bets.
Special offers may also be sports-specific bets. Bookmakers may offer a special promotion for those betting on soccer or in the NBA.
Why are bookmakers offering too many promotions and offers to their clients?
The answer to that is simple.
They want to attract new customers. If you bet smart, you can easily take the free money they are giving you though these exclusive offers.
Better Betting Odds
Every sports bettor should be seeking out for the best lines or odds available for their respective bets. This can only be possible if you have many bookmakers to shop for the best possible odds.
A good example is an NBA game between two premier NBA teams the Los Angeles Lakers and Boston Celtics. One bookmaker has the Lakers as the favorites to win the game at -110. Another bookmaker you signed up for has the Lakers at -120.
Since this is a premier matchup, a bookmaker you’re using offered a special promotion where the Lakers are favored by only -105 for those who will place their bets early.
As a smart sports bettor, the logical bet you’ll make is to put money on the best odds which is the -105.
Instead of putting in $120 or $110 to win $100 for a Lakers win, you only have to bet $105 to win a hundred dollars.
Again, this small difference might not matter today, but in the long run, it definitely will.
Being with many bookmakers also gives you higher chances of enjoying promotional betting odds from one bookmaker that you won’t get from other bookmakers.
If you’re looking for a good bookmaker that offers great odds, check out 5Dimes. Our team has been using them for several years now. You should check out our 5Dimes review first before signing up with them.
Cons of Signing Up With Multiple Online Bookmakers
Tracking Your Money
The most obvious disadvantage of having multiple accounts is you can easily lose track of where your money is or how much you’ve got left.
When you sign up with multiple bookmakers, you should also be aware of the rollover requirements. Being knowledgeable about how much rollover is required before you can take out your money can save you time and money.
The good thing is you can easily track your bets by using a tracker, spreadsheet, or a betting app to monitor your bets.
Bookmakers May Become Suspicious Of You
Bookmakers’ main goal with their promotions and offers is to attract more customers. However, they are still very strict when it comes to those people taking advantage of these said promotions.
Most of those people who do match betting open multiple accounts with different bookmakers. It’ll be a good decision on your end to be mindful when cashing in and cashing out from your bookmakers.
Make sure that you always satisfy the required rollover amount first before making your first withdrawal. By doing so, you can avoid any issues when cash out your money.
No bookmaker has publicly stated that they suspend the accounts of those who do arbitrage betting or do match betting.
It is still advisable to be careful and cautious with your betting activity to avoid any suspicions from your bookmakers.
Recommended Sports Betting Sites
To help you in your sports betting quest, here are some of the best online betting sites you can sign up with.
Best US Sports Betting Sites
Finding a good betting site that accepts clients from the US isn’t that difficult compared to before. With the rise of bitcoin, sending and withdrawing your bankroll from online bookmakers have never been easier.
We highly recommend these online betting companies for betting on sports, they’re trustworthy and have great odds when it various sports.
If you want to maximize your winnings, we recommend going with 5Dimes since they have the better odds compared to other major US bookmakers and have a wide range of sports leagues you can bet on.
If you’re looking for flexibility when it comes to adding funds to your account and cashing out your winnings, we suggest using BetOnline.
Best UK Sports Betting Sites
UK residents may also bet on sports since their gambling laws are not that strict compared to the United States.
We recommend using BetNow to place your bets. They have a competitive betting platform, several cash-in and cash-out options, responsive customer support, and of course, great promotions and bonuses for new customers from the UK.
Best Sports Betting Sites For Australians
Australian residents are allowed to bet on sports as long as they only place their sports bets on authorized betting companies.
Most Australians do sports betting through international providers.
We were able to review a handful of AU online betting sites and chose to recommend 5Dimes.
We place some of our sports bet with them, so we know they’re 100% legit, and we haven’t encountered any problems adding funds to our account or withdrawing our winnings from them.
Best Sports Betting Sites For Canadians
Those in Canada can bet on sports using an offshore bookmaker that accepts players from Canada.
There are more than a handful of online betting sites you can choose from, but we highly recommend using BetOnline to place your wagers.
They’re one of the best bookmakers today and offer a variety of cash-in and cash-out options so it’ll be easy for you to add funds or withdraw money from your account.
Having Multiple Bookmakers – Final Thoughts
The pros or the advantages of opening or having multiple accounts with different bookmakers outweigh the cons, and it’s a good way to take control of your betting experience.
If you’re dissatisfied with one of the bookmakers you open up an account with, you can just close your account and get your money out of there.
When it comes to getting the best odds, it is an advantage on your part when you have accounts with multiple sportsbooks or bookmakers instead of being with just one sportsbook.
This way you can easily browse the available odds on all of the sportsbooks you’re affiliated with. You also get to enjoy promotions from these bookmakers which is free money.
Get Access To Our Weekly Exclusive Sports Betting Picks