In sports betting, it is important to remember something Albert Einstein once said. First, you must learn the rules of the game. Then, you have to play the game better than anyone else.
As a novice or beginner sports bettor, it is best to learn the rules of the industry first.
One item you must understand as a bettor is wagering limits. Don’t be confused. If you understand speed limits, you will understand betting limits.
Why do we need limits?
Limits exist for a reason. If there was no limit on how fast drivers could drive, there would likely be more accidents. More people would be in danger without a speed limit.
The same is true in a sportsbook. Without limits, sportsbooks and bettors would be in danger of suffering massive losses. That said, bettors in search of a sportsbook should do some research on limits before opening an account.
What is a betting limit?
Any reference to a limit when discussing sports betting is referring to the minimum and, more importantly, the maximum dollar amount a bettor can wager on a particular set of odds.
When looking into a sportsbook, wagering limits are normally easily found on an online sportsbooks’ website.
Limits will vary from sportsbook to sportsbook, from sport to sport, and from betting type to betting type. For example, one sportsbook has a maximum bet of $5,000 on NFL point spread bets. However, a point spread bet at the same sportsbook has a maximum of $2,000 for the NBA.
When you visit this sportsbook, an NFL teaser bet has a maximum of $1,000. A different sportsbook may have higher or lower limits. It’s all about risk for a sportsbook. A larger sportsbook with more players might be willing to have higher limits than a competitor with a smaller player sheet.
Betting limits can also be different depending upon how you place the bet. If you place a wager on an NFL game, the bet might have a limit of $5,000 if you completed the transaction online. The same exact bet placed on the phone may have a limit of $10,000.
Why do sportsbooks set limits?
Just like no two car manufacturers or shoe companies are the same, sportsbooks differ in the way they operate, what they offer, and how they set their lines and prices.
It’s the same with limits.
Different sportsbooks will have different limits on different types of bets and on different sports. It’s up to you as a bettor to do the research and find out what those limits are.
The big reason why limits are set is so that a sportsbook does not overextend itself and risk huge losses.
They are going to set prices and lines in a manner that brings in action on both sides of the bet. If there were no betting limits, one large wager would throw off the numbers on both sides of the bet. A win by the bettor could essentially wipe out an entire operation.
Adjusting Betting Limits
It’s important to understand that a sportsbook can adjust its limits at any time.
The popularity of different events can sometimes lead to adjustments in betting limits.
For example, larger sportsbooks will offer a much higher limit on events that draw national media attention. Think Super Bowl or March Madness.
This makes sense since the popularity of those events helps sportsbooks bring in a much larger handle. That allows sportsbooks to take in larger bets on either side knowing they can cover a big loss and still make a profit.
As a bettor searching for a quality sportsbook, do your research into betting limits. Remember, once you understand the rules of the game, you can then work on playing it better than everyone else.
