What New Jersey sportsbook has the best odds?
Now that legal sports betting is on the menu in New Jersey, online sportsbooks will serve up thousands of daily gambling markets for sport, racing, politics and more. The question is: which sports betting sites will deliver the best odds and the biggest returns? BettingPlanet.com has scoured the odds and prices at the various NJ licensed online betting sites and reach some valid conclusions. Read on to find out which New Jersey sportsbook has the best odds in 2020.
How do American betting odds work?
First, let’s cover the basics. ‘Odds’ refers to the return on investment a bookmaker might offer for any given outcome. The higher the odds, the greater the payout if the bettor wins.
There are three common ways to write odds:
- Decimal odds quote the total monetary return per dollar staked (e.g. $2.50)
- Fractional odds describe the ratio of dollars won against dollars staked (e.g. 3/2)
- Moneyline odds show how much you must bet in order to win a certain amount (e.g. +150)
New Jersey bookies use moneyline odds, commonly known around the world as American odds. In the example above, a bet of $100 would win you $150; but if it was quoted as -150 instead of +150, you would have to bet $150 to win $100.
Sports odds at New Jersey betting sites
There are dozens of different ways to bet on sports. Some contests are better suited to specific types of bets, while others offer enormous variety. The match markets below apply to most of the world’s most popular sports.
- Moneyline: Bookies tend to use this straightforward format for lower-scoring sports such as hockey and baseball. As opposed to other markets that take scores and margins into consideration, a moneyline bet requires only that your pick wins. The team with the shorter odds is the favourite (e.g. New York Yankees -170) and the team with the longer odds is the outsider (e.g. LA Dodgers +145).
- Points spread: Because basketball and football are high-scoring sports in which big winning margins are common, bookies usually opt for a points spread where each team is given a handicap in order to balance the odds and attract interest to both sides of the market. For example: if the Boston Celtics are quoted as -6.5 (-110), the bet only pays if the Celts win by seven points or more.
- Win-draw-win: Draws and ties are regular occurrences in sports such as soccer, cricket, boxing and other martial arts, which is why bookmakers offer a third option alongside the standard win bets for each side. For example, a typical match market in the English Premier League might see Liverpool slated at -120 to win, Arsenal at +205 to win, and the draw at +220.
- Outright: Horse racing, greyhound racing and individual sports such as golf and motor racing are better suited to backing one player or team against the rest of the field. Outright futures markets are also available for major titles like the Wimbledon singles championships, the Super Bowl, the Stanley Cup, the NBA Finals, the MLB World Series and the FIFA World Cup.
How to get top odds at New Jersey bookies
Now that we understand the odds and how they apply to various betting markets, it is time to start hunting value. Keep these simple tips and tricks in mind every time you bet.
- Only use licensed online sportsbooks: This is the one golden rule of betting at online sportsbooks. If an operator does not tick every box for licensing, security and all-round quality, it does not matter how good the odds are – you are going to get ripped off. Stick to bookies that are regulated by the state of New Jersey.
- Open accounts at multiple betting sites: Rival New Jersey bookmakers will often float similar prices on major sporting markets, but every now and then you will find some big discrepancies between one shop and the rest. This is especially the case in lower-tier competitions and the early rounds of knockout tournaments. If you are signed up with licensed bookie in NJ, you have an excellent chance of sniffing out the best odds every time.
- Guarantee a profit with arbitrage betting: When you find a site that is paying over the odds on a particular team or player, there is a fair chance another bookmaker is offering good value on their opponent. Sometimes it works out that if you back one side at one bookie and the other side at another bookie, you will come out ahead no matter which side wins. Operators tend to take a dim view of such practices, so discretion is essential.
Best online bookmakers in New Jersey
New Jersey casinos and racetracks have first rights to the state’s newly launched online sports betting industry. Names to look out for include:
- Golden Nugget
- Monmouth Park
Until they get their sports betting operations up and running, you can enjoy great odds and exclusive bonus deals at a number of reputable overseas betting sites that accept gamblers from the United States. Each of the bookie sites below is fully regulated and supports USD transactions via credit card, debit card, e-wallet and other convenient payment methods.
In conclusion the regulated betting environment in New Jersey is first-rate, with most of the betting options having pretty standard prices and odds. We have however found betting sites like Betstars and 888Sport have consistently top odds in comparison to their competitors.