Reprinted with permission from Stanford Wong's upcoming book, Sharp Sports Betting. Look for the book this summer at BJ21.com.

Betting Online

If you decide to bet sports on the Internet, you probably will want to open accounts at several sportsbooks so as to be able to shop lines. Even if you want to make a bet on an event that has the same line at every sportsbook, there often are differences from book to book as to terms offered. If two sportsbooks both offer your team at -3 but one book will take your bet for -105 and the other wants -110, you know which book to patronize.

Sign-up Bonuses

Competition for sports betting dollars is stiff, so the Internet sportsbooks offer these bonuses to entice you to play with them instead of their competitor. They know that a competing sportsbooks is only a mouse click away.

A significant amount of bonus money can be made by opening accounts at many different sportsbooks and getting the bonus payoffs.... If you do not have enough money to receive the maximum bonus, you may want to delay opening an account at that sportsbook.

My advice is do not give the impression of signing up just for the bonuses. ... You don't want to also be identified as a bonus hustler.... Take as much bonus money as you can, but do so in a manner than anyone scrutinizing your account will think that you are not abusing the bonuses.

I recommend making at least one phone call to an Internet sportsbook prior to giving making your first deposit. I generally find it is good to open the account (with no funds) and then call. Ask the sportsbook about its bonuses, i.e. How much is it? How do you qualify for it?... Talking to someone on the phone solidifies things for me, and I always ask for and write down the name of the person I am speaking to.

Referral Bonuses

Most sportsbooks will give 10 to 20 percent of your initial deposit as a bonus to someone who referred you. If you want to take advantage of this bonus but don't know anyone else who bets sports online, then visit www.bj21.com or www.sharpsportsbetting.com and make some contacts. You might be able to find someone who will split the referral bonus with you 50/50.

One problem with having a referral is that it ties you to the other person in the sportsbook's computer. People have been banned from particular sportsbooks due to winning too much money. If the person who received a bonus for referring you is subsequently banned for winning too much money, then you may find yourself unwelcome at that sportsbook as well.

Withdrawing Funds

Withdrawing funds to a NETeller or PayPal account is normally free and fast. Sportsbooks that have this service can "zap" you the money quickly. You withdraw money from NETeller by credit to your credit card, receiving a check, or having money wired to your bank account.

Withdrawal Problems

Sometimes you will encounter problems withdrawing money. You may have to wait a few weeks or months for the money to be sent to you. There might be an exorbitant fee for you to withdraw money. Sportsbooks are set up to take money in, not to send it out. Check into withdrawal procedures before opening an ac- count, and if withdrawing looks like it is going to be slow or expensive, then don't open the account in the first place.

Be polite and cordial in email and phone conversations with the employees of sports-books. Being aggressive and showing anger won't help your cause.

Max Bets: Caveat Emptor

One thing to be aware of with offshore sportsbooks is max bets might not be accepted gracefully.... Some offshore casinos post higher maxes than they are comfortable accepting. Why they don't reduce max bets to their comfort levels I do not know.

Name Confusion

Beware of any sportsbook with a name that is similar to the name of a reputable sportsbook. For example, if there is a reputable .com book, beware of a sportsbook using the same name but with .org instead of .com. A sportsbook trying to bring in customers by leaching the good name of another sportsbook probably is run by crooks.

Stanford Wong is one of the world's foremost authorities on blackjack and casino gambling. His new book, Sharp Sports Betting, will be available this summer at www.BJ21.com