Bookmaker gambling rules
Events and outcomes
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Sports events are the basis for bookmaker gambling. An event is any one-time sports competition or the summarizing of the outcomes of a series or a championship. For instance, a match, a competition, a round, a fight, a performance as well as outcomes of a game set, a championship or an Olympiad are sports events. Moreover, an incident during a competition that may or may not occur can be an event. A penalty or sending a player off the field during a football match can be such events.
Any completed sports event has its outcome. For example, a match finishes with a victory of one team or a tie. All possible outcomes of an event are foreseen and each has its probability. The outcome is determined according to the official statistics after an event is completed.
Bets, types of bets, odds
A bet means a bet or a wager on an event outcome made between a bettor and a bookmaker, bookmakers being ready to take bets on various outcomes of the same event. In most cases bets for all possible outcomes of an event are taken. You can choose an outcome that seems most probable and accept a bookmaker’s bet on this outcome.
- The types of event outcomes for betting:
- first team victory (marked "1" or W1);
- second team victory (marked "2" or W2);
- tie ("Х");
- victory of one of the teams ("12");
- number of goals over a specified number will be scored during a match ("over 2.5", 2.5 being the number of the goals scored);
- number of goals under a specified number will be scored during a match ("under 2.5", 2.5 being the number of the goals scored);
- bet on the score ("0:0", "1:0", "2:3", etc.);
- and many others.
The odds are the most important condition of a bet. The odds offered by a bookmaker are fixed and cannot be changed after a bet has been made. The odds are always over 1. If a bettor multiplies this ratio by the money amount of its bet, he will see the amount to be paid out by the bookmaker after the event is completed with the outcome chosen by the bettor (in case he wins). For example, if the odds for the outcome of the England team victory in the England-France football match is 2.2, then with the bet amount being EUR 100, the bookmaker will pay you out EUR 220 (EUR 100 x 2.2 = 220). The bet amount is decided on solely by a bettor. The more the bet amount, the more the amount of the potential winnings is.
A bet on one outcome of an event is called a single bet. This bet is considered to be winning if the outcome is equal to the outcome a wager made his bet on. There are also multiple bets. It is a bet on several outcomes of different sports events. The total odds for a multiple bet are the product of the odds for each outcome wagered on. For example, if you think that the Canada hockey team wins against the Sweden team and the USA team against the Russia team, you can make a multiple bet on these two outcomes. If the odds for the Canada team are 1.5 and for the USA team are 1.8, then these two odds are multiplied making the total bet odds 2.4. However, the winnings are paid out only if all the multiple bet outcomes are guessed. If any of the bets lose, the bettor loses the parlay. The more events a multiple bet includes, the more the odds and potential winnings are, but also the more the risk to lose is.
A handicap bet is a bet on an event outcome when a handicap is given to one team before the event begins. For example, one team is already given the handicap of +1 meaning that this team is one goal ahead before the match starts (1:0). If the handicap is -1, the team is one goal behind (0:1). For example, you had made a bet with the handicap +1.5 on the second team, and it lost 2:1. But you won the bet! Since if you add the handicap to the score, it will become 2:2.5 and thus the second team wins.
Bets can be taken on a part of a sports event: a time, a period, a set, a round, etc. In this case the outcome is clear after this period of time, but the payouts are made after the whole event is completed. As it was mentioned above, a bookmaker can allow betting on whether an event will take place or not as well as on the number of specific events that will happen during the competition. Corner kicks and substitutions in football, bull’s eye hits in biathlon, overtime or additional time in hockey can be such examples. Bets on what event will happen first can be accepted for a change. For example, a goal or a yellow card.
All of today’s best bookmakers offer as many various bets as possible to attract bettors. Besides, this way they mitigate their risks, since the bets are distributed more evenly between sports events. So you will have options to choose from. Never before in its history the bookmaking business have offered so many outcomes and bets. The main thing is to make the best use of the offered instruments. The punters with bookmakers use these advantages with positive results. If you want to learn how to make right bets and win, keep studying from this website.
