On price, Bovada, DraftKings and FanDuel are almost the same. On 14 NFL point spreads this week, the average margin was 4.71% at Bovada, 4.73% at DraftKings and 4.85% at FanDuel. What separates them is everything around the price: where you are allowed to use them, who regulates them, how you get paid, and the fact that they often post a different number on the same game.
DraftKings and FanDuel are licensed, state by state, in the United States. Bovada is an offshore sportsbook. That one difference decides most of what follows.
How do Bovada, DraftKings and FanDuel compare at a glance?
| Comparison | Bovada | DraftKings | FanDuel |
|---|---|---|---|
| Licence | Offshore. Not licensed in any US state | Licensed in each state where it operates | Licensed in each state where it operates |
| Where it operates | Does not accept players from 19 states and Washington, D.C. | 27 states and Washington, D.C. | 23 states and Washington, D.C. |
| Average margin, NFL spreads this week | 4.71% | 4.73% | 4.85% |
| If you have a dispute | No US regulator to go to | State gaming regulator | State gaming regulator |
| How you get paid | Crypto is the fast route | Bank transfer, card or PayPal | Bank transfer, card or PayPal |
The state counts come from DraftKings' latest annual report and from FanDuel's published list at the start of 2026. Both add states over time, so check the current list for where you live.
What is the margin at each sportsbook?
The margin is what the sportsbook charges you for taking the bet. You find it by turning both sides of a market into probabilities and adding them up. Whatever is above 100% is the margin.
Take a standard spread priced at -110 on both sides (1.91 in decimal odds). Each side implies 52.38%. Together that is 104.76%, so the margin is 4.76%.
I did that for the same 14 NFL games at all three books, using the point spreads posted on 2 and 3 October 2026.
| Sportsbook | Average margin | Lowest | Highest |
|---|---|---|---|
| Bovada | 4.71% | 4.55% | 4.76% |
| DraftKings | 4.73% | 4.55% | 4.76% |
| FanDuel | 4.85% | 4.71% | 5.11% |
The gap between the cheapest and the most expensive is about a seventh of one percentage point. On main NFL lines, none of the three is the cheap one.
This is one week and one market. It tells you about spreads on the biggest sport in the country. Props and parlays usually carry a much higher margin at every sportsbook, and I did not measure those here. The bookmaker margin lesson lets you run this calculation on any price you are offered.
If the margin is the same, where is the difference?
In the number itself. Here is one game from the same list, Indianapolis at Washington:
| Sportsbook | Colts | Commanders |
|---|---|---|
| Bovada | -4 at -110 (1.91) | +4 at -110 (1.91) |
| DraftKings | -4.5 at -105 (1.95) | +4.5 at -115 (1.87) |
| FanDuel | -3.5 at -122 (1.82) | +3.5 at +100 (2.00) |
Three sportsbooks, three different bets on one game. If you like the Colts, FanDuel has the best number at -3.5 and charges more for it. If you like Washington, DraftKings gives you +4.5.
Which one is the bargain depends on your own number for the game. If your sheet makes the Colts 5 points better, -3.5 at -122 is worth paying for. If it makes them 3 points better, the value is on Washington at +4.5. Without a number of your own, you cannot tell.
This is how I started. I compared my local bookmaker's line with the prices online and bet only when the local price was better. I was not picking winners. I was buying the better price. A second and a third account give you the same thing today. NFL Line Movement Explained shows why those numbers move apart in the first place.
Where can you use each one?
This is the question that decides it for most people.
- DraftKings reported in its latest annual report that its online sportsbook is live in 27 states and Washington, D.C.
- FanDuel was live in 23 states and Washington, D.C. at the start of 2026.
- Bovada does not accept players from 19 states and Washington, D.C.: Arizona, Colorado, Connecticut, Delaware, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Tennessee, Vermont and West Virginia.
Bovada left about half of those states in 2024, so the list changes. Check it on the day you want to open an account.
Notice the overlap. Most of the states Bovada has left are states where DraftKings and FanDuel operate. In practice many bettors do not choose between the three. Their state chooses for them.
What does regulation change for you?
DraftKings and FanDuel hold a licence from the gaming regulator in every state where they take bets. If a bet is settled wrongly or a withdrawal is held, there is an authority you can complain to.
Bovada is not licensed in any US state. Its own site says it is licensed and regulated by the Union of the Comoros. If you have a dispute there, no US regulator will take your case.
With an offshore sportsbook, the only real protection is its record of paying. That is why I have always put getting paid ahead of a bonus or a slightly better price. In the years I had an account at Bovada, they always paid, they paid quickly, and support answered. That record is the reason it is the offshore book I point US bettors to.
Whether you may use an offshore sportsbook depends on the law where you live. I am not a lawyer, and that part is yours to check before you deposit.
What happens when you start winning?
All three are sportsbooks for recreational bettors. DraftKings and FanDuel are widely reported to cut the stakes of customers who win steadily, and Bovada lowers limits too.
For most bettors this is a later problem. It is still worth knowing now, because it is one more reason to hold several accounts. When one book cuts you down, the others are already open.
So which one should you open?
More than one. That is the honest answer, and the Colts example above is the reason.
- If you live in a state where DraftKings and FanDuel operate, open both. You get two regulated prices on every game.
- If Bovada accepts players from your state, it gives you another number to compare. You can open a Bovada account here.
- Whatever you open, make your own number first. The best line on the board is only the best if you know what the game is worth.
The full list of sportsbooks I point bettors to, by region, is on the where to bet page.
FAQ
Is Bovada legal in the United States?
Bovada is not licensed in any US state. It is an offshore sportsbook, and its site says it is licensed and regulated by the Union of the Comoros. It does not accept players from 19 states and Washington, D.C., after leaving about half of them in 2024. In the other states it accepts players, but state laws on betting with an offshore book differ. I am not a lawyer, so check the rules where you live before you deposit.
Does Bovada have better odds than DraftKings or FanDuel?
Not on main NFL lines. On 14 NFL point spreads in the first week of October 2026, the average margin was 4.71% at Bovada, 4.73% at DraftKings and 4.85% at FanDuel. That is close enough to call equal. The real difference is that the three often post different numbers on the same game, so the best bet depends on which side you want and what your own number says.
Which of the three pays out fastest?
At Bovada the fastest route is crypto, and when I had an account there it paid quickly. DraftKings and FanDuel pay by bank transfer, card and PayPal, and the time depends on the method you pick. I did not time withdrawals for this article, so treat payout speed as something to confirm on each sportsbook's cashier page before your first deposit.
Can I have accounts at all three sportsbooks?
Yes, if all three take players where you live, and for most people they do not. The states Bovada has left are mostly states where DraftKings and FanDuel are licensed. Where you do have a choice, more accounts mean more prices. Even two accounts let you take the better number on every bet, which adds up over a season far more than any welcome bonus.
Will these sportsbooks limit me if I win?
Probably, if you win steadily over time. All three are built for recreational bettors, and all three are known to reduce the maximum stake for customers they judge to be winning. It usually takes a long run of well-priced bets before that happens. It is a reason to spread your betting across several accounts and to keep records, so you know your results are real when the limits arrive.
Which is best for a beginner?
The one that is licensed where you live. A regulated sportsbook gives you a regulator to go to if something goes wrong, and that matters most when you are new. Start with small stakes, open a second account when you can, and learn to compare the two prices before you bet. The sportsbook matters less than whether you have your own number for the game.
If you want a finished sheet that gives you that number for NFL games, my models are on the models page. If you want one bet priced against the line you were offered, the AI Betting Assistant does that.
Where to start if you have never made your own number
A second sportsbook account only helps if you know which of the two prices is the better one. If you have never built a number of your own, The Ultimate Modern Bettor's Toolkit walks you through your first model, from a blank spreadsheet to a number you can compare with the sportsbook.
$27, one payment. It includes the +EV betting model spreadsheet, a 45-minute video training that builds your first model with you, and the four-bucket staking system. 30-day money-back guarantee.
MB built Underdog Chance around one idea: make your own number first, then bet only when the price beats it. Over the last 20+ years his simple, probability-based Google Sheets models have helped thousands of bettors stop following picks and start pricing bets for themselves.
Disclosure: I earn a commission if you open a Bovada account through the link on this page. I have no affiliate deal with DraftKings or FanDuel.
Last updated: 3 October 2026