Bettors often face betting limits at sportsbooks and online betting sites. It may seem weird but you cannot bet too much money on most games and events. See why online bookmakers limit their bettors and how to act if you get limited.
Betting online sportsbooks has many benefits for bettors. The betting process is simple and straightforward: you sign up, place a bet and receive your winnings to your account. At modern betting sites, bettors can wager on a wide range of events, starting from sports competitions and ending with weather predictions. Also, most sportsbooks allow players to bet for free with the help of bonuses. Here you can learn about the best online sportsbook deals, promos, and bonuses.
However, online sportsbooks have one drawback – betting limits. It may be a surprise for beginner bettors but they cannot win millions from betting sites. Online bookies always control the amount of the potential loss on any given bet by setting limits. Let’s take a closer look at betting limits at sportsbooks.
About betting limits at sportsbooks
Betting limits at sportsbooks are restrictions on the maximum amount of money one can bet on any event. These limits are set by these sportsbooks in order to control the amount of potential loss of sportsbooks. In other words, betting limits help sportsbooks to avoid paying out enormous amounts of money to bettors who place big bets.
To understand the concept of betting limits better, take a look at the following example. Let’s say, a bettor wants to bet $200 on an event but the sportsbook doesn’t accept bets over $100. In this case, the bettor will be rejected. Most likely, a message with the indication of the limit will pop up to inform you about the maximum you can wager on this event.
Each and every sportsbook runs its own policy regarding betting limits. For example, the same sportsbook can set a betting limit of $500 for one event but allow you to bet $1000 on another event. Also, you can sometimes face different betting limits on the same event during the day/week/months.
Reasons why online sportsbooks have betting limits
There are two reasons why sportsbooks have betting limits. One has already been mentioned – sportsbooks don’t want to run out of money because of someone’s enormous and successful bet. Therefore, they limit the maximum amount of money you can bet on this or that event.
The second reason is setting lines at sportsbooks. When they are first released, the limits are at their lowest point. Why? Because the bookies have no idea whether the odds they’ve set are correct or not. As soon as the first bets are placed, sportsbooks move the line to make it the most accurate.
Among all types of bets, prop bets have the lowest betting limits. They can reach hundreds of dollars and here’s the reason why. It is quite easy to make correct predictions and benefit from prop bets. Therefore, sportsbooks can’t allow the same bettors to benefit from props again and again. Bettors who consistently bet on props may draw attention and get limited by online sportsbooks.
What if you have been limited?
If you had been lucky enough to win too much over a long period of time, you would be unlucky enough to have stricter limits than most bettors. These limits are highly likely to be set for your account on a permanent basis. What should you do if you have been limited?
The only option is to negotiate with the sportsbook management. You can discuss the possibility of staying away from certain betting markets and get your previous limits back. You should never ever create a new account to get rid of limits. Most sportsbooks track IP addresses, so if you get caught, you will be banned from betting forever.
