If you have ever placed a sports bet online you may have come across minimum and maximum stakes. You may also have noticed that these stakes vary between sportsbooks and that they can even vary for VIP and non VIP players. The fact is that bookmakers have to protect their own interests, and controlling the amount of money that can be staked helps them to do this.
In this article we are going to look at why it makes sense for bookmakers to control stakes. We are also going to examine how you can find a sportsbook that suits you, based on stake levels or other considerations such as bonuses.
Why do minimum and maximum stakes exist?
The one main reason that different stake levels exist is to protect the sportsbook. No sportsbook wants to put itself in a position where it is open to bettors multiplying their stake over and over without limit. If a sportsbook did not limit stakes then it would make like it a lot easier for bettors who use progressive systems to profit.
You will usually notice that a sportsbook will limit the doubling of stakes to around five times. This means that a VIP section of a sportsbook may have a high maximum stake but the minimum stake will also be raised to reflect this. Generally, the lower the minimum stake is the lower the maximum stake is likely to be.
How to find the right sportsbook for you
If you want to be able to place a certain stake on a game such as the Penn State Nittany Lions, then you need to find a sportsbook that will accommodate you. Of course, this is not the only information about sportsbooks and online gambling that you might be looking for. The good news is that there are resources online where you can find information as diverse as how to bet on Penn State Nittany Lions legally and where to find the best new player bonuses online.
You have access to all the legal details you need to make sure you are complying with state regulations. You also have access to lists of some of the best sportsbooks to use if you want to maximise your playing budget by using promotional codes. It’s unlikely that you will choose a sportsbook based on one factor alone.
You may decide to find one where higher stakes are accepted, but which also rewards player loyalty with bonuses. The important thing is to do your research and you should not be afraid to try our different sportsbooks to see which one is the best fit for you.
Bookmakers will always set stake limits in order to protect themselves against bettors achieving monumental wins. If you are not happy with the stake level on offer you may want to try a different sportsbook. You can also try telephoning and asking for a raised stake limits. There are sportsbooks that sometimes do this for certain players.