Sports are global, but not everybody has the same experiences of them. Fans follow different teams, and their local leagues can often differ in style to even their closest of neighbours. With viewership and expertise differing across borders, it might present a unique opportunity when traveling for those who bet.
Understanding Geo-Locked Sportsbooks
Geolocked sportsbooks restrict access based on the user’s physical location (or, at least, the IP address they are using). This means that sports betting online in Belgium will have a different clientele than sportsbooks in the US or UK.
The reason for geoblocking is that it is a regulatory decision to ensure they remain compliant. Governments issue licenses for specific territories, and although not all international betting sites are geo-locked (some are internationally licensed, too), most are.
But when you know a site is locked, you may want to ask what the implications are.
How Local Focus Can Create Market Inefficiencies?
Bookmakers set odds reflecting an event’s probability – that’s how it begins. However, prices can adjust based on demand for a bet. For example, if lots of people are pouring into one horse, the odds will likely shorten as a risk-management technique, even if the sportsbook has no idea why or if it’s actually more likely to win.
In theory, this creates a wisdom of the crowd event where the odds perfectly reflect the available information. If Mbappé gets injured the night before a Champions League final, some punters may bet against Madrid, and therefore, the odds will adjust.
But what’s interesting here is that different countries have clear differences in knowledge. Belgian bettors, on the whole, will have a better understanding of their own domestic league than foreigners. This is a clear warning that you may struggle to find good value bets when visiting Belgium. But what if you’re from Brazil, and the Belgium bookmaker is taking bets on your favorite team from back home? Here, you might spot some incorrect pricing.
Finding Value Abroad
Capitalizing on these potential inefficiencies comes down to your own knowledge. Of course, there are no guarantees. In fact, it could lead to a false sense of confidence. But on paper, there may be international markets that the locals aren’t familiar with – or at least, less familiar than you are.
This could also be the case for all sports. Lithuanians visiting the UK may find themselves eyeing up basketball odds for European matches. Brits aren’t all that into basketball, so a higher percentage of the bets taken on basketball might be from casuals.
Weighing Up The Odds With Practical Challenges
There could be some flaws to this plan, and it all hinges on the sportsbook in question. Some use international odds-making software, so you’re not truly seeing a reflection of what the locals think. However, this isn’t always the case, and some companies do create their own odds (or use odds-making APIs that are predominantly used in one country, market, or continent).
In reality, the odds are still stacked against you, as with all betting. But it doesn’t mean that you can’t find more opportunities for strange odds that you disagree with!
