What is a Sports Bet?
A sports bet consists of four elements:
Stake - the amount of money you choose to bet;
Price - the price of what you bet on
Opinion - what you choose to bet on
Payout - the amount you are paid out if you win
Let’s take a simple example, Liverpool is hosting Everton in the Premier League. Let’s assume you want to bet on the outcome of the match and you think Everton will win.
Your sports betting prices for betting on the match result are as follows:
You have already decided what the result is going to be - a draw. Next you need to decide how much you are going to spend (stake) on your bet. Let’s say you choose 100.
So, your bet will look like this:
100 x 3.80 (Everton wins) = 380 (payout).
After that, it’s easy; if Everton wins you will receive a payout of 380; if Liverpool win or the match is drawn, you lose your 100.
All online sports betting is done by using a betting account; it’s a bit like a bank account and functions as follows:
You deposit money into your betting account from your mobile money (or bank) account..
When you place a bet the stake is deducted from your betting account.
When you win, the payout is credited to your betting account.
When you withdraw, the money is deducted from your betting account and sent to your mobile money (or bank) account.
Just like an online bank account, you can login to your betting account at any time and see a statement of all your transactions: deposits & withdrawals; bets and payouts.
There are hundreds of different bet types, involving the prediction of: scores, totals, scorers, halftime results, etc and bets can range from single bets to multi bets including as many as 30 predictions in one ticket - but hopefully the above simple example above will help you to start to understand the art of sports betting.
Remember, always bet responsibly