Many sports gamblers dream of becoming a sharp, who’s a professional bettor that wins big profits. Sharps are fascinating due to their strong command of betting knowledge and high win rate. But being a professional has its downsides, including the fact that online sportsbooks hate them. Some internet sportsbooks take extreme measures to discourage sharps or even ban them outright.
Why is it that betting sites hate these skilled gamblers? Keep reading as I cover the matter, including why sharps pose such a problem
The obvious goal of internet sportsbooks is to make profits. They do this by offering betting lines and collecting juice (a.k.a. vigorish) from these wagers. A sportsbook usually collects 10% vigorish (depends on odds) from the losing side in a point spread bet. They also take around 10% from losing favorite bettors in a moneyline wager.
The sportsbook’s basic goal is to balance out action on all sides of a bet. This allows them to collect juice without assuming any risk. Sharps complicate this process, thus forcing oddsmakers to take pre-emptive actions. But you can at least get the picture on how sportsbooks make their money.
Oddsmakers have more tools at their disposal than ever before when crafting lines. They use advanced computer programs to compile in-depth stats and create lines that balance the action. This differs greatly from a few decades ago, when they solely relied on the weather, injuries, records, and box scores to make lines. The overall idea is to make both the favorite and underdog seem attractive to sharps and (mostly) the public.
Here’s an example on how a bookmaker sets up moneylines:
Sports betting sites don’t always produce lines that encourage betting action on all outcomes.
They may put out lines based on public perception and move this based on how the bets are coming in. Sharp money also factors into how lines are created and moved, which I’ll cover later.
A sharp (a.k.a. wise guy) is a professional sports bettor who has in-depth knowledge of both gambling strategy and their chosen sport(s). These pros are experts at examining all facets of a wager and leaving emotions out the equation. They don’t bet just because they want action; they wager because they see an opportunity to make money.
Professional bettors sometimes go for days or even weeks without placing a wager. They’re not going to assume risk without finding favorable prospects. Sharps are also experts at bankroll management. They typically have large bankrolls and are very disciplined with how they place bets in order to mitigate their short-term risk.
One of the most-common sharp bankroll management tactics includes only betting around 1% of their funds on any given wager. Risking such small increments allows them to ride out downswings and continue realizing long-term profits. The pros also use advanced strategies and programs to make decisions – just like the oddsmakers they’re trying to beat. They compile in-depth statistics, look for trends, develop their own systems, and even watch games to spot minor details.
Yet another sharp tactic involves either betting early or late on a line. Many pros jump on lines early so that they get take advantage of a good price before lines move. Gaining just an extra half point on a point spread makes all the difference when one is placing lots of wagers. But they’ll also wait on lines if they don’t like the price in hopes of getting a better one before the game starts.
The public (a.k.a. squares) are the opposite of sharps, because they violate every rule of a professional better. They make bets without doing any serious research, because they want money on their favorite team or just want action in general. The majority of squares and sharps are on opposite sides of a line. The professionals are more informed on which is most-valuable outcome, while the public picks the wrong side more times than not.
Earlier I discussed how online sportsbooks try to balance out betting action so that they don’t assume heavy risk on one outcome. Taking too much action on one side of a line costs a bookmaker when the other side wins. Sharps pose a risk to betting sites because they can make huge bets that throw everything out of whack. The sportsbook is then left assuming a large amount of risk against knowledgeable bettors.
Here’s an example on how sharps can affect things:
It’s easy to spot the sharp money in this example, because pros tend to bet much higher than squares.
I mentioned before that oddsmakers take public perception into account before releasing a line. This is only part of the matter, though, because they must also consider where the sharp money is going. Betting sites try to identify this sharp money and sometimes shade their opening lines accordingly. Doing so can discourage many pros from placing big bets on one side.
The public generally backs favorites simply because they have a stronger chance of winning. This bias causes squares to miss out on value that a sharp would otherwise not. Squares are especially fond of road favorites due to their attractive prices. Oddsmakers know how hard it is to win away from home — even as a favorite. But the public mostly thinks about how they’re picking the better team and underestimates the road aspect.
Sharps can find plenty of good opportunities with underdogs, especially when they’re playing at home. Bookmakers know this, which is why they often watch for sharp money on dogs. An influx of money on the underdog versus the favorite side can indicate that pros are betting heavily on the less-heralded team.
Online sportsbooks can also judge sharp bets by timing. Earlier I discussed how pros like to bet early to catch lines before they shift. A sportsbook can quickly spot this when they get lots of action on the underdog right away. “Steam moves” are another tell-tale sign of sharp betting. A steam move refers to when a syndicate bets big across a number of sites, forcing these oddsmakers to all move their lines at once.
Internet sportsbooks can use one or more of these signs to investigate accounts and determine a pattern of sharp betting. They don’t usually act right away just because somebody wins a big wager on Florida Atlantic University. But a string of big wins on unheralded teams will raise serious questions.
Merely figuring out who sharps are doesn’t do bookmakers much good if they don’t take action. Therefore, betting sites take measures to minimize the impact that professional bettors have. One common method for doing so involves lowering max bets. You’ll often see smaller internet sportsbooks offer max wagers between $1,000 and $5,000, depending upon the sport.
A high-profile sharp won’t waste their time with a $1k max wager. Sportsbooks that impose limits often cater to the public and don’t want sharp action. Another way that they hinder pros is by imposing individual betting limits. An oddsmaker might see that one particular bettor is making lots of money on huge wagers, then lower their maximum bet.
Sportsbooks may also restrict bettors’ access to certain markets. If they see that a potential pro is crushing basketball games, they may block this gambler from making basketball bets only. The sharp will receive a notification that they’re restricted from this market upon trying to bet. Banning accounts is the most-dramatic method that online bookmakers use. This is especially common when an oddsmaker believes that a group of pros (a.k.a. syndicate) are using multiple accounts to place wagers.
Internet sportsbooks don’t like one sharp placing huge wagers – let alone a syndicate. They simply ban all of the suspected accounts to avoid the extra risk. Betting sites also ban third parties that make bets for a sharp. These types are commonly referred to as “runners” in land-based sportsbooks.
Online runners open accounts and place bets on behalf of a professional so that the sharp can conceal their identity. This method is also used if the pro is banned from one or more online sportsbooks and they need access to somebody else’s account. Be sure to read an online betting site’s terms and conditions. This will give you an idea on how they treat sharps and what actions they take to discourage pros.
It might seem unfair that online sportsbooks ban winning bettors. But there’s nothing wrong with them doing so from a legal perspective. This is true whether you’re dealing with a betting site from a prestigious licensing jurisdiction like the United Kingdom Gambling Commission or a lower-quality one like Curacao.
Online gambling sites are private businesses and can refuse business to anybody they see as posing a risk. They can use a variety of reasons to ban sharps, including anti-money laundering fears. Internet sportsbooks aren’t a public service that must abide by the people. Instead, they’re businesses that want to make profits.
Sharps pose a major risk for sportsbooks, which is why some operations go to great means to hamper pros. Of course, the degree to which betting sites deal with the pros varies from one bookmaker to the next. Some are more lenient against the pros and will only take action in extreme cases, while others want no part of any potential threat.
If you’re a sharp or have dreams of becoming one, then it’s up to you to figure out which sites are most accommodating to pros. But again, reading a site’s terms and conditions is one of the easiest ways to figure out their stance. You can also perform Google research to learn which sportsbooks are the best for sharps. Note that a few gambling jurisdictions have laws against banning professional gamblers. The New Jersey Division of Gambling Enforcement has a policy in place that pros “cannot be barred from wagering based solely on their winnings or skilled play.”
Keep in mind, though, that the Garden State currently only offers land-based sports betting. And they could always change the law to give bookmakers more power to ban sharps. But New Jersey would be a great place for online pros if the Garden State is ever legally able to offer internet sports betting.
Professionals don’t take account restrictions and bans lying down. They instead find ways to work around these problems and continue making money. Earlier I discussed how professionals sometimes use online runners to place their bets. This is a good way to circumvent a ban or low max bets, until the runner attracts suspicion.
The easiest way to work around sharp limitations is by betting at an online exchange like Betfair. A betting exchange works slightly different from normal sportsbooks, because gamblers match wagers with other bettors. This gives sharps freedom to create their own lines. It also allows them to get as much action as they’re able to find without fear of being banned.
Professionals can even look for traditional online sportsbooks that are more willing to accept their action. Pinnacle, Grande, CRIS, and Grande are known for taking sharp bets. Meanwhile, they’ll want to avoid sportsbooks that are known for catering to squares like 5Dimes and GTBets.
You can see that being a professional sports bettor isn’t easy. This is especially the case if you win significant amounts of money and sportsbooks begin taking notice. But it’s also worth becoming a pro when considering the profit potential. Some online sports bettors make six or seven figures annually thanks to their prowess. The path to becoming a sharp certainly isn’t easy, because you need to put lots of time into improving your skills. You also need good bankroll management so that you can get through the rough patches and continue winning money.
Therefore, you don’t really have to worry about camouflaging your abilities from online sportsbooks until you’re good enough to create problems. All you need to worry about is trying to become a profitable bettor. The good news is that there are more resources available than ever before with regard to making this happen. You can consult articles, forums, handicapping experts, databases, and advanced programs.
Of course, there’s nothing wrong with being a square who merely looks at sports betting as entertainment. This allows you to bet whenever you want action on your favorite team or another squad. But don’t let how internet sportsbooks treat sharps scare you away from improving. If anything, you can just gravitate towards betting exchanges or sportsbooks that welcome pros.
This is why many internet sportsbooks release their initial line as a feeler for sharp money. They can use early bets (especially on underdogs) to feel where the pros are betting, then adjust accordingly. The majority of online sportsbooks take steps to minimize sharp play. Featuring lowish max bets is an easy way to accomplish this goal.
Bookmakers also actively look for potential sharp accounts and restrict them from certain markets, lower their max wagers, or even ban them. Online sportsbooks are perfectly within their rights to do so too. These are private businesses that are out to make money, rather than please the pros.
Of course, this isn’t to say that sharps don’t still make their money. They get around these measures by hiring online runners and using virtual private networks (VPNs). They can also simply use exchanges or sportsbooks that accept sharp action. In essence, this whole matter is a game of cat and mouse. Sharps want to beat bookmakers with large wagers, while oddsmakers do whatever it takes to remain profitable.
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