The 2017 NBA Playoffs tip-off this Saturday, and many bettors will be flocking to their sportsbook to place a wager on the championship winner. This bet type has seen a sharp rise in popularity due to the large potential payouts, but there are several potential pitfalls to betting futures.
Many sportsbooks take low limits on these futures, and it’s less than ideal to have your funds tied up for months while awaiting the payout. Additionally, some sportsbooks have very high hold percentages and the numbers often vary tremendously from book to book. That’s why it’s so crucial to shop for the best line before placing a wager.
The table below displays the current NBA Championship odds from several prominent offshore sportsbooks and one Las Vegas sportsbook.
|Golden State Warriors||-150||-180||-192||-160||-225||-155||-135||-175||-220||-175||-200|
|San Antonio Spurs||845||700||780||600||800||840||700||849||900||800||900|
|Los Angeles Clippers||5000||2800||4000||5000||3000||5000||3300||3258||3000||3500||2500|
|Oklahoma City Thunder||10000||8000||12000||6600||15000||10000||7500||8678||22500||15000||10000|
|Portland Trail Blazers||30000||12500||24500||30000||30000||30000||22500||21684||30000||30000||30000|
There are some major discrepancies between these books, and that highlights the importance of having access to multiple sportsbooks in order to maximize profits. As an example, the Warriors are available at -135 at Paddy Power and -225 at The Greek. The Clippers are +2800 at BetOnline, but they’re listed at +5000 at both 5Dimes and Bovada. That means a $100 wager on Los Angeles could potentially yield an additional $2,200 by simply shopping for the best line.
Historically we have found that Las Vegas sportsbooks typically have a higher theoretical hold percentage than offshore sportsbooks, but that’s not the case this year. When we examined theoretical hold percentages for the Super Bowl odds, several Las Vegas sportsbooks had hold percentages of greater than 50%. Although we only examined odds from one Las Vegas sportsbook (Westgate Superbook), their hold percentage ranked right in the middle of the pack.
It’s important to note that the limits differ dramatically from book to book. For example, Bovada (a square sportsbook) won’t accept wagers of more than $1,000 on futures while Bookmaker or Pinnacle (both market-setting sportsbooks) take $50,000 limits.
The list below displays the hold percentage at each of these books:
- Heritage (11.66%)
- 5Dimes (12.04%)
- Paddy Power (15.12%)
- Sportsbook.com (15.72%)
- Pinnacle (15.95%)
- Westgate Superbook (16.92%)
- Sports Interaction (18.58%)
- Bovada (19.09%)
- Bookmaker (19.39%)
- BetOnline (20.69%)
- Greek (21.81%)