Guide to online betting

Introduction:

Online betting has been one of the biggest highlights of the past few years. It’s now one of the mainstream sectors of the gambling industry, which has gradually become another global industry with legal regularization.

Many regions have also eased their hold on online betting, allowing casinos to break into new markets and for players to easily access gambling platforms. And while it might seem relatively straightforward for any internet-savvy person, online betting can be confusing for some beginners. So here’s a guide on the need-to-know information about online betting.

How Does Online Betting Work?

The events you bet on are often depicted with odds, which are the ratio of your stakes vs. potential winnings on the outcome of your choice. These odds are decided by bookmakers or bookies, which is just a fancy name for the online casino you use. They are also displayed as decimals (e.g., 0.35) or fractions (3/1). So, for instance, if the outcome you stake on has an odds of 3/1, your winnings will be $5 for every $2.5 you stake.

There’s an array of events that you can stake on, depending on the online casino you use. For example, let’s use one of the most bet on events – sports. Several sports matches are happening every week globally, including eSports. These events come with unique odds and outcomes that you can bet on. For instance, when betting on basketball, you can stake on the number of free throws a side might have by the end of the fourth quarter. Of course, you could also bet on details like the number of fouls or who scores the most points in the game.

But that’s not all of it. Every bookmaker has something that sets them apart from the competition. And often, it’s their odds. Bookies try to feature competitive odds that offer users the best value on their stakes.

How Do Stakes Work?

A stake is money you bet on an outcome or odds. If the outcome is as you predicted, you would have won the bet, and the bookmaker would refund your stake as well as the winnings on the odds. So, say, you stake $2.5 on 1.50 odds, your winnings would be $3.75: $2.5 is your original stake, and $1.25 is the profit on the odds your stake generates.

On the other hand, if the outcome you bet on doesn’t play out, you lose the bet and have no winnings.

Free Bets

While all bets must be funded with stakes, you may sometimes get free bets from bookmakers. These bets are often tied to first-time users or deposit bonuses offered by the platform for a limited time. Unlike regular bets, you have to claim free bets to use them. They are often fixed amounts that can be redeemed upon completing specific requirements. For instance, signing up on an online casino could afford you a free bet upon depositing a certain amount, say $5 and above.

If you’re wondering how to bet with a free bet, it’s slightly different from the other kinds of betting, which will be covered shortly. Say, for instance, you get a free bet of $5. If you stake it on a game and lose, you’d have lost the bonus. However, if it wins, you will receive the profit on the odds of your bet and the $5 from the free bet.

Types of Bets

When making bets, you don’t have to stake in a single outcome alone. You can make myriads of bets in different orders, like permutations and accumulators. For instance, horse racing has a different betting feature from other sports. So, say, you back a horse or jockey to win by ticking the each-way box, you will get some returns on your stake even if the horse doesn’t come first. However, specific rules apply to this sort of bet. For this case, the horse must come in another placed position and no less.

Alternatively, you can make a forecast bet by choosing the horses that will come in first and second places. Tricasts allow for up to three selections. Each-way bets also apply to events like competitions and tournaments with outright winners.

Speaking of betting selections, there’s no limit to the amount you can use to improve your odds. Albeit, for accumulators, all your stakes must be clear to win.

What Bets Can You Make?

There is a platform for all your favorite sports or eSports, so you’ll likely find something to bet on. And even if you’re not interested in any of these sectors, there are other competitions, tournaments, and events you can bet on. For instance, you can find TV shows and award events involving public votes (e.g., Love Island, Sports Personality of the Year, X-Factor, etcetera) on some betting platforms.

What’s more, you can bet on various sports both within and outside your region, such as sports leagues in other countries. But beyond these, you can also stake on other details of an event. Take a sport like soccer, for instance. You can stake on events like the side to score the first goal; if someone would be sent off with a red card; the number of goals in a match; who would score, etcetera. Other sports also have unique outcomes that can be used in a bet.

Deciding on a Betting Platform

The online casino space is crowded with many outfits of different sizes and renown. This means players have a wide array of options to pick from. Before settling on any betting platform, ensure to go through their library and payment option. There’s no need to make bets on a platform that doesn’t use your payment professor, whether credit or debit card, bank transfer, or alternative payment methods.

If you are unsure where to find these details, consider reading reviews of the platform on casino blogs, including those from personal users. Also, look out for details like customer support availability and mobile apps. These will help improve your experience if you encounter any problems or prefer a more organized platform than a website.