Others • Betting
12 Rules You Need to Follow When Placing Online Bets
Whether you decided to just now get into betting or you’re a player with much experience, these tips or rules can help out anyone in this industry. Betting can be terrifying for beginners so getting to know some of the ground of everything in sports betting is not such a bad idea. None of the rules are complicated and they vary from one sportsbook to another, but this is a list of the ones we think are the most important ones.
Some of the listed bullet points are actual rules that need to be obliged to stay in this line of business, while others are just helpful tips for potential winnings.
- 1. Underdogs and Favorites
- 2. Prices and odds can change
- 3. Do your research
- 4. Compare wins
- 5. Bets have to be placed before the match begins
- 6. Multiple bets can’t be placed on the same match
- 7. Changed odds reject your bet
- 8. Overs and Unders or Total
- 9. The amount you should bet
- 10. No, take backs on bets
- 11. Next event bets
- 12. No multiple accounts
1. Underdogs and Favorites
When calculating odds in a current match, before doing so make sure you separate your teams into favorites and underdogs. The team with a negative three-digit number next to it should be the favorite and the team with a positive three-digit number should be the underdog. This can determine very high betting odds, but it’s not always 100% accurate.
To help with calculating the odds of a match, it’s important to keep track of previous scores of the team you are planning on betting.
2. Prices and odds can change
Usually, when you are following a match and while you are keeping a close eye on the score, you calculate beforehand who you should bet on, also known as the favorites. Although a turn around in a match is not frequent, it does happen sometimes. When that happens, the price for betting changes and so do the odds and this makes it harder to choose who the favorite side should be.
Another small inconvenience that can occur, is a mistake when typing the prices. This is pretty common and when it happens, users are notified and refunded of their bets.
3. Do your research
Before settling on a team you only think will win, make sure you study their game. This is an important factor in playing because it can be beneficial in calculating odds against teams. This way you do everything possible to ensure you win a placed wager beforehand.
4. Compare wins
Comparing different amounts of wins can be extremely beneficial. If you are able to save even a couple of cents for every played game, after a whole season you can save up to hundreds of dollars.
This strategy is used in everyday activities, mostly shopping. When you’re going from store to store to find a big sale and save up as much as you possibly can. Completely the same strategy, different industries.
5. Bets have to be placed before the match begins
This rule explains itself, any and all wagers have to be placed before every match. If your transaction goes through late, the bet will be terminated and you won’t be able to bet that game anymore. This is very crucial in keeping a sportsbook fair for everyone and makes sure you can’t cheat the system of betting.
6. Multiple bets can’t be placed on the same match
If any sportsbook allowed this rule, everyone would be able to make a bet for each team and that way make sure to get any and all winnings. In this case, everyone would win and there would be no point in this system. A different name for this rule can also be correlated plays.
7. Changed odds reject your bet
If you’ve already placed a bet on a team you think will win and the odds change during the game, your sportsbook should notify you about this change and ask you if you still want to keep the bdt going or if you want to withdraw the bet. The whole point behind this rule is to maintain the lack of technical exploitations of sportsbooks and it only applies to live bets.
8. Overs and Unders or Total
With this rule, you can wager, for example, on a basketball game and bet if the total amount of points for both teams will reach a certain number.
If you betted for a total of over 200, and the total, in the end, is 201 or more, you win your bet, but if it goes lower than 200, you lose your bet.
9. The amount you should bet
If you set a large amount of cash on a team you only think or believe will win, you are taking a very high risk. It’s always better to start low and continue higher and higher.
If there is a winning chance of $100, you should place a maximum of $5. So if it happens that you lose the bet, you’ll lose a small and reasonable amount, but if you win, then you can try and continue a lucky streak.
10. No, take backs on bets
This is one of the main reasons why you should stick to low betting amounts. Once you bet, you can’t take back or withdraw the money. If this were possible, this would be considered a loophole in the system for cheating. You would be able to withdraw your wager just when you realize your team might lose.
Just for this reason, sportsbooks made sure this type of loophole was non-existent and made a fair play for all players.
11. Next event bets
If you place a wager on the “next event” after the current game, the amount of money you wanted to place will be sent back to your account. The sportsbook will treat this as a “push” type of bet.
12. No multiple accounts
You can’t create more than one account on a sportsbook. This is to ensure no fraud is being committed, and so that all customers and users have a fair chance of winning bets.
It’s important to mention if you’re not over the age of 18, this type of activity is illegal for you. No sportsbook will create an account without identification of your identity and age.
If you try to follow some of these rules, you’ll definitely ensure a lot of winnings in the future.