Sports Betting Limits Designed To Limit The House's Damage
Every game of chance offers the house a certain inherent statistical advantage but none works off so small a profit margin--theoretically between one and four percent--as sports betting. With so little room for error, sportsbooks have come to rely on a combination of accurate pointspreads and an understanding of how and when to move lines as their primary defense against players. Another significant tool at the bookmakers' disposal is sports betting limits.
Generally, there are three factors that sportsbooks consider when establishing sports betting limits, the historical accuracy of the lines, their profit trends, and their customer mix. For those reasons, while sports betting limits may vary greatly from one wagering outlet to another, nearly all bet takers establish limits for their biggest and best sport and work their way down from there. For almost any sportsbook dealing with a clientele that is primarily American, the NFL rules supreme.
But what should a sportsbook's NFL limits be? As a general rule, if a book is unable to lose "comfortably" five times its stated limit, then that sports betting limit is too high. For example, if a sportsbook or Internet betting site has a limit of $10,000 and, as invariably happens from time to time, takes a limit hit on a single side in a single game five times before moving the pointspread on that game, then that sportsbook or site should be able to survive a $50,000 loss without half the staff being fired. If a sportsbook can't sustain such a hit, its sports betting limit is too high.
Sportsbooks and sites establish their sports betting limits based on their play. There's no reason for a wagering outlet to have a $10,000 limit if its top wagers consistently fall in the range of $500 to $1,000. In that scenario, the only time a sports betting site will see a $10,000 wager is when it doesn't need it, when there's something wrong with the game and the player has some informational edge over the bookmaker.
It's worth remembering that sports betting limits are in place as a defense against professional players. Sportsbooks in Nevada and other resort locations often allow their frequent casino customers to wager amounts that are larger than the house's stated limits. What's more, there also are a handful of transcendent sporting events, such as the Super Bowl, that benefit an entire property and may have no limit at all.
If a book starts with a $10,000 limit on NFL sides, then a $1,000 limit on NFL totals would be in line. After all, totals are esoteric wagers and limit bets on them almost always come from professional gamblers. By keeping total wagers comparatively low, sportsbooks and Internet sites can maintain leverage and manipulate play to their best advantage.
Once having established side and total limits in the NFL, sportsbooks can assign numbers to other sports. A sportsbook or site manager who accepts a $10,000 wager on the NFL should feel comfortable with half that amount, or $5,000, on college football. A sportsbook that takes a 10 dime side bet on the NFL might accept a wager of $3,000 on both Major League Baseball and the NBA. Total limits of $500 for baseball would be appropriate. A total limit of $300 on the NBA--where sophisticated gamblers have proven particularly adept--would be in line with a $3,000 side limit. College basketball, which has become more profitable for bet takers than the NBA version of the hardwood game, has edged closer, if not drawn even, with professional hoop limits. Where once a sportsbook that took a $3,000 pop on the NBA might only go as high as $1,000 on college basketball, the limits now have achieved equality at many outlets.
Given our example of $10,000 for an NFL ceiling, betting limits on the NHL might fit comfortably into the $2,000 range with total limits of about $300. Betting limits on hockey need not be very high because casual players rarely wager that heavily on the sport.
A major boxing attraction, especially one where the line has been solidified and it appears that substantial two-way action will result, can be booked to NFL limits. On the other hand, events such as arena football and games of the Canadian Football League, sports where oddsmakers and sportsbooks may not have as much information as they would prefer and where there is not much interest from the general public, are booked to much lower limits. Perhaps $1,000 is the right number on those sports.
Players may not always like it but setting reasonable sports betting limits is an important function of the successful bookmaker. For while the dreams of gamblers may be limitless, the money a bookmaker is willing to lose isn't.
By Luken Karel for http://www.thegreek.com/ . The Greek Sportsbook & Casino is host to one of the top online sportsbooks: http://www.thegreek.com/ offering betting on NFL, NBA, MLB, NHL and all other major sports. Article reproductions must link to http://www.thegreek.com/ .
Related Articles:
Sports Memorabilia Collectible Treasures
People have worried for a long time about the authenticity of their sports memorabilia collectible treasures. This worry has hindered many large collectors from investing large sums of money in memorabilia items that they think could not possibly be signed by the person that is being represented on the item.
New Mexico Emporium: Grand Opening Showcases Athletic Collectibles, Sports Memorabilia and Apparel
Sports enthusiasts now have a new website to add to their top picks with the grand opening of New Mexico Emporium's online store. Offering a wide array of quality merchandise, shoppers can find a wealth of collectibles, sports memorabilia and gift-giving ideas without having to make a trip to a department store or mall.
Tony T's Sports Bets TV Show Preview - College and NFL Football Sports Betting Picks and List of Games Previewed for This Week's Show
Tony T's Sports Bets Sports Betting TV Show airs live Friday's at 5PM ET/2PM PT and re airs Saturday and Sunday at 12PM ET/ 9AM PT. Here is the preview for this week's show and the list of 6 College and Pro Football games that will be covered from a sports betting perspective. Tony T's Sports Bets is an Interactive Sports Betting Information TV show that focuses on sports betting on College and Pro Football airing on Vlaze.com Broadband Television Network.
Sports Betting Coverage--NFL Pro Football and College Football Sports Picks Highlight September Tony T's Sports Bets Sports Betting Coverage on Gambl
Tony T's Sports Bets Sports Betting TV Show airs 7 days a week on Gamblers Television. Tony T breaks down the big TV Games from the NFL and College Football. Tony T's Sports Bets is a Sports Betting Information TV show that focuses on sports betting on Pro Football and College Football airing with a new episode each day seven days a week on http://GamblersTelevision.com. Dana Ward also contributes with stories from the NFL, College Football and the UFC for the sports betting public.
Technical-Gear Sports Sunglasses Announces Top Sports Goggles and Gear for 2007
Technical-Gear Sports Sunglasses spent the year finding the best sports goggles and other gear for consumers. The company is proud to release the company's top picks for 2007, allowing consumers to get the most from purchases.
Tony T's Sports Bets Sports Betting Coverage--NFL Pro Football and College Football Sports Picks Highlight Sports Betting Coverage Airing on Gamblers
Tony T's Sports Bets Sports Betting TV Show airs 7 days a week on Gamblers Television. Tony T breaks down the big TV Games from the NFL and College Football. Tony T's Sports Bets is a Sports Betting Information TV show that focuses on sports betting on Pro Football and College Football airing with a new episode each day seven days a week on http://GamblersTelevision.com.
New Sporting Toy Pumgo Has Entered Large Sporting Goods Stores This Fall
In last summer season Land Surf Inc. donated more than 200 Pumgos to kid summer camps national wide. It’s the first time for many kids to ride the skateboard that can be powered by rider as a 4WD "car". Major sporting goods stores such as Modell’s and Dunham’s recently began carrying the innovative toy. More and more parents and kids will find out riding Pumgo is a unique and fun outdoor and indoor activity. Please visit www.pumgo.com for more information.
Hoops Partners with Shively Sporting Goods Stores and East End Sports Cards
Sports Collectibles And Memorabilia
Collection of sports memorabilia or sports collectibles, antique or modern is restricted by two factors: the money available and the space to be occupied. Once having decided on these basic factors, then it becomes a personal affair. The collectors taste may lead to Basketball Memorabilia, Baseball Memorabilia, NASCAR memorabilia, Golf Memorabilia, Football Memorabilia, Bobble Heads, Diecast Collectibles, Hero Posters, or innumerable other factors. Acquisition of an admired piece may also lead to a determination to get some more of the same, or to find out what the admiration is actually about.
SportsLine Founder Brings Online Sports Entertainment to the Open Era with the Launch of Open Sports : OPEN Sports Puts the Ball in Sports Fans' Co
Mike Levy, founder of CBS SportsLine.com, announced today the launch of OPENSports.com, a next-generation sports site that will re-define the sports fan's entertainment experience. OPENSports.com launched in BETA with the first set of tools and content for the 2008 NFL season. The site is a comprehensive platform of products and services that brings together breaking sports news, social media tools, user generated content and multimedia applications to create the ultimate community-oriented destination.
CollectibleSport.com Offers a Great Selection of Collectible Sports Memorabilia and Gift Ideas for Most Popular Sports
Sports Memorabilia Collectors are flocking by the droves to buy Collectible Sports Memorabilia from CollectibleSport. They are taking advantage of the great selection and value found for most popular sports, including baseball, basketball, football, golf, NASCAR, die cast cars, sports bobble heads, and sports hero posters. This is
the perfect marriage of the popularity of Collectible Sports Memorabilia and the upcoming holiday gift giving season.
Sports Odds and Picks -- NFL Pro Football and College Football Highlight September Tony T's Sports Bets Sports Betting Show Airing on Gamblers Televi
Tony T's Sports Bets Sports Betting TV Show airs 7 days a week on Gamblers Television. Tony T breaks down the big TV Games from the NFL and College Football. Tony T's Sports Bets is a Sports Betting Information TV show that focuses on sports betting on Pro Football and College Football airing with a new episode each day seven days a week on http://GamblersTelevision.com. Dana Ward also contributes with stories from the NFL, College Football and the UFC for the sports betting public.
Tony T's Sports Bets Sports Betting Coverage--NFL Pro Football and College Football Sports Picks Highlight August Sports Betting Coverage on Gamblers
Tony T's Sports Bets Sports Betting TV Show airs 7 days a week on Gamblers Television. Tony T breaks down the big TV Games from the NFL and College Football. Here is the preview for this month's shows and few of the Pro Football and College Football games that will be covered from a sports betting perspective using sports odds from sportsbooks. Tony T's Sports Bets is a Sports Betting Information TV show that focuses on sports betting on Pro Football and College Football airing with a new episode each day seven days a week on http://GamblersTelevision.com.
Discover Why Sports Nutrition Protein Is Need For A Healthy Sporting Diet
You need to be accurate about the nutritional information that your body will require to accomplish maximum achievement. Every athlete generally desires to be unparalleled in their chosen sport. But if you want to be well-recognized as an athlete, you've got to have beneficial nutrients in a consistent food intake, this is particularly the case with sports nutrition protein. Whilst it is certain that drinking plenty of water and eating a balanced diet is enough for the regular guy, sports people ? you included ? need increased nourishment, for the adequate creation of physical energy.
Tony T's Sports Bets TV Show Games To Be Previewed on Friday's Show
Tony T's Sports Bets TV Show Notes for This Weeks Episode.