This is something I don't get. If these bookmakers are going to suspend or restrict my account in the case of profiting too much, why should I even bother with sports betting in the first place? What's the point? Having fun while losing money?
That's the point from the sportsbook's perspective, at least.
Their business is essentially offering this service to you for a fee - and that fee is an inherent disadvantage on your part due to subpar odds that they offer.
Which leads me to the question, are there any reputable bitcoin sports betting exchange sites? And will they suspend/restrict my account too if I profit too much although they won't be affected by my winnings so logically they shouldn't care about it. In fact, since the pool and liqudity get bigger they should even support it. So, is it really the same case with bitcoin exchange sites too so that I should give up betting if I plan on winning in the end?
I think that there are a few concerns that may result in a suspension, the biggest of which may be insider betting. This is why you see extremely low limits on newly established leagues such as esports imo.
I doubt that centralised sportsbooks are going to change their ways in terms of restricting accounts on big profits, because most of the time a) you are playing against the house, so your win is their loss (of course, they would also hedge some of their bets) and b) sporting events are not truly provably random.
But as others said, betting
exchanges have no net position in any bet, so they would have no trouble with you beating the market (just as any crypto exchange wouldn't mind whales profiting on derivatives, as long as they get their share of fees).