How to Manage Multiple Betting Accounts

In this day and age, thousands of gambling platforms exist on the Internet, and no one site can have it all. Hence, gamblers get tempted to test their luck and sporting knowledge on multiple hubs to get the maximum this sphere provides.

Concerning sports betting, having multiple betting accounts is a necessity for sharp gamblers because odds shopping is paramount to maximizing returns, as is continuously accessing top-shelf promo offers. Avoiding betting limits, enhancing arbitrage opportunities, and hedging are other factors why modern gamblers open accounts with multiple sportsbooks, as betting on only one is not conducive to producing long-term profits with any degree of regularity.

Naturally, you should never have multiple accounts with the same bookie, as that will likely lead to them getting banned once that bookmaker’s team discovers that you have engaged in such a forbidden practice (usually outlined in the T&C). But there is no issue if you open accounts with multiple platforms looking to become privy to better odds, more promotions, and a more robust range of betting markets. These openings, along with effective management and proper wagering tactics, will go a long way to enhance your overall online gambling experience. And they will also keep you out of the red. So, let us explore this topic more in-depth.

Picking the Right Bookies

You must pay attention that the bookies you choose are not under the wing of the same operator (company). You can discover who manages a specific site by looking at its licensing info or reading its terms and conditions page. Another reason you should not use sites operated by the same entity is they usually have identical or near-identical bonus terms, and they will share user database info. So, if you have limits on one site and you start doing well on another, they may quickly be aware of who you are and how you are betting and limit you quickly. But, if the sites have the same operator, they usually have the same betting software. So, essentially, you are using the same sportsbook.

You want to use bookmakers that differ in what they supply. For example, one can specialize in mainstream sports, offering extensive coverage and quality odds on the most popular leagues. Yet, another may emphasize eSports, niche athletic competitions, or horse racing. A third may excel in live betting. One brand may deliver a generous welcome bonus. Another may have a rep for listing steady streams of free bets for existing users, and a third may have implemented a top-shelf VIP system. Naturally, payment method selection and KYC rules are also things to consider when choosing platforms. There should be some degree of variety in the brands you pick. Each one should provide something that the others do not. By selecting bookmakers that differ in key areas, you are building a diversified portfolio of sites that get you the best or close to the best marketing offerings in chief regions.

Account Security

We suggest KYC/identity verification upon sign-up at all chosen websites and different passwords and usernames for each. Also, do not utilize the same email for registration on all these platforms, as if one gets compromised, you do not want your other accounts to become vulnerable. Please read the conditions of each bookmaker before signing up, paying attention to the policies regarding multiple accounts, match betting and arbitrage. The latter is super vital.

We would also tell you to add 2FA on all your accounts but do not use the same device/number. Know that virtually all two-factor authentication methods that entail getting codes via email or SMS can get intercepted by things like MitM attacks, account takeover, SIM swapping, etc. That is why you should use apps like Microsoft or Google Authenticator. Other handy tips on this front are avoiding using public Wi-Fi networks, checking your login history at all account profiles, avoiding hearing login information, being careful of phishing scams, and keeping your software up to date.

Tracking Bets and Performance

When gambling, offline or online, maintaining financial accountability is crucial, and that happens by keeping track of stakes made, outcomes, odds, and profit/losses. That ensures that you have a clear picture of your financial situation in relation to your gambling activity, leading to bankroll management that stops you from overspending. Also, you must not forget the tax reporting on losses if you live in a jurisdiction where winnings get subjected to taxation. When using multiple sites, this can be a bit complicated to perform. Most gamblers seem to like Google Sheets or Excel. Still, you can utilize any spreadsheet software you prefer for column-creation for essential data points that give you insight into where you stand concerning your overall return on investments.

You can also opt to put to use dedicated apps like Smart Bet Tracker, which gives you features like bet tracking, bankroll management, and detailed statistics. You are not limited to only software built for sports betting, as you can explore personal finance apps like Mint or Quicken, which have many of the tools needed for you to track financial transactions at multiple sportsbooks. Be aware that tracking bets over several platforms can be a bit cumbersome. Most sites today have profile pages that let users view their bets made and transactions completed on their sites. Sadly, few automatic methods exist that let you instantly transfer this data to your app. We are talking about the sites we review. US-based and many higher-end brands that operate in the UK may have this option for popular apps marketed to gamblers from these regions.

Common Practices and Tips

Frequent analysis can help you identify potential issues before things escalate. That is why keeping comprehensive records and focusing on metrics like average stake, win rate, and ROI is so important. We recommend breaking down your data into categories. These can be – sports, bet type, or betting strategy. Keeping different gambling types separate. Thus, if you like to play casino games or poker, do not mix that data with the sports betting one so you have a good idea of how much money you are spending on each endeavor and what return each generates.

You may want to think about keeping a dedicated email account where you follow your betting activities. You do not use this one to sign up for sites. But only to get notifications through calendar apps about dates regarding the expiry of bonuses, upcoming promotions, and betting events. Also, betting at multiple sportsbooks can be an easy way to lose track of spending, so think about adding general daily, weekly, and monthly betting limits to your tracking app, and try to Implement a consistent staking plan. Set reminders to review your betting activities, and once per month, sit down to review your wagering patterns to see if you can spot any potential biases you fall prey to.  .

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