5 Online Betting Strategies to Lookout For
5 Online Betting Strategies to Lookout For
5 Online Betting Strategies to Lookout For
Every online betting player is always looking to make a quick buck or is just out to have a good time. Placing bets online is not all about luck and sometimes requires a structured and target approach.
We will look at several tested and proven-effective strategies, explore their mechanics, and go through how they can apply to your next visit to your favourite online casino.
Strategy 1: Double Chance
A Double Chance bet is one of the most commonly-available betting strategies in football. And what this type of bet lets you do is allow you to back two of the three possible outcomes with a single stake—win/lose, win/draw, lose/draw.
For example, assume Manchester United kick-off against Swansea, and the pundits are saying Swansea could cause an upset due to both teams’ current form. In this case, putting all your eggs in one basket can be too risky, but slightly shorter odds for a Swansea win or draw could be right for you—the Double Chance bet removes the chance of a late equaliser ruining your bet.
The Advantages and Disadvantages of a Double Chance Bet
A Double Chance bet increases your winning odds significantly, giving you more security because as long as it will be near impossible for a team to lose, you will be able to combine two different outcomes into one and still get some money along the way.
It is undoubtedly a safer strategy than some other in-play betting strategies given the higher chances of winning.
However, because the odds for Double Chance bets are usually lower than the odds on the 1X2, you will lose some of the value of the bet as a result. This is still a popular bet in football because it lets players cover two options albeit at significantly lower odds.
Who Should Use Double Chance Bets?
Since Double Chance bets come with much lower risks, this betting strategy is significantly more advantageous for many players, with some even wondering why it is not more popular than it already is.
This betting strategy is best used for risk-averse players and high rollers given the chances of winning, and the resulting higher payouts that can offset the shorter prices offered by bookmakers.
Finding Opportunities for Double Chance Betting
Double Chance betting opportunities are plenty on various sports betting platforms, and many other tutorials can help you cover the possible outcomes and calculate odds for placing the most effective wagers.
Just by simply laying your options out and calculating the odds can be an excellent way to diversify your betting strategy across several betting platforms.
But is it worth it? This type of bet is good for riskier games given that the overall odds will be higher, the shorter price on the Double Chance will seem more credible and it is even a good choice to pair it with an accumulator bet, especially in the context of football given the popularity of Double Chance betting.
It is also a good complement for handicap betting as it can provide you with an overall betting strategy to increase your odds and improve long term profitability.
In short, Double Chance betting is a risk-minimising form of betting that allows players to bet on underdogs or matches where the outcome is uncertain. While draws are the least common outcome to place a bet on, they can now be factored into a bet for maximum profits. As long as there are three possible outcomes, it is likely that a successful Double Chance bet will yield high returns.
Strategy 2: Back and Lay Betting
What is Back and Lay betting? The answer comes in two parts
Often a method used in horse racing, this is when bookmakers publish odds for various horses, where you back a horse by placing a certain amount of money on it. For example, if a horse has odds of 4.0 and you have placed RM10 on the horse to win. If the horse wins, then you will receive a payout of RM40 (RM10*4). If the horse does not win, then you will receive nothing in return.
This is a more recent and trickier version of a traditional back bet that rose to popularity with the rise of betting exchange platforms where players bet against each other instead of a common bookmaker.
Lay bets work inversely to a traditional back bet—instead of betting on a horse to win, you are instead betting on a horse to lose.
Who Should Use Lay or Back Bets?
For players who prefer a simpler betting experience; pick one horse from a group to place anywhere rather than to place first. While they are less common, they form an integral part of other betting strategies such as matched betting. To surmise, this is a key difference between back and lay betting.
Back bet- A RM10 bet on Liverpool winning the English Premier League this season.
Lay bet- A RM10 bet on Liverpool not winning the English Premier League this season.
The Advantages and Disadvantages of Lay Bets
The payout depends on the specific bet made; some pay better than others. While betting on a favourite may not pay well, lay betting on a favourite might pay very well, as well as betting on an underdog.
Strategy 3: Back to Lay Arbitrage
The most common form of sports arbitrage strategy there is, this is where players back the bookmaker and lay the same outcome with a betting exchange to guarantee a profit.
Arbitrage betting is a strategy where bettors place bets on all outcomes of an event at odds that guarantee a profit regardless of the outcome.
This is based on how likely an outcome is going to occur, on a fair market with the odds implying probabilities that would add up to 100%. Bookmakers, however, price their market odds to go above 100% probability to give them an edge.
This strategy puts the odds in the bettor’s favour by ensuring they cover all eventual outcomes across betting providers and add up to less than 100%.
It consists of two bets between a bookmaker and a betting exchange, giving players the chance to back with a bookmaker and a betting exchange. Players can take advantage of opportunities that arise when the lay price on the exchange is shorter than on the back odds of another exchange or another bookmaker.
If done correctly, these bets will cover all outcomes of an event, allowing you to secure a profit no matter the result by allowing players to back a bookmaker and then lay the same outcome on a betting exchange for a profit.
How It’s Done and What are the Pros and Cons?
Arbitrage betting is typically done between two bookmakers. But the introduction of betting exchanges has added more betting opportunities than ever.
Now players can ‘lay’ the result, or bet against an outcome; now they cover all outcomes with only two bets—the back bet and the lay bet. Other than the advantage of being able to cover all outcomes, there are also advantages such as freedom to set your own odds within reason, no limitations imposed on you; making back to lay arbitrage strategy an appealing one to consider.
However, make sure you do your due diligence before engaging in this strategy as this is disallowed on certain betting platforms.
Strategy 4: Hedging
What is Hedging?
Hedging has risen in popularity along with future betting, making it the next trendiest strategy among new players. Couple it with futures betting, and any player with a pending futures wager could hedge themselves and guarantee themselves a kind of win.
Also, even when a player thinks that they might win, they can decide to hedge as a form of wagering insurance just to guarantee that they walk away from a winner.
The Advantages and Disadvantages of Hedging
While hedging is a useful tool to use on all forms of sports despite their differences, where some individual games will use a point spread or provide future bets that use a moneyline giving players more possible outcomes to guarantee a win, the win may not be as large but the extra bet serves as a form of insurance if the initial bet loses.
In short, a bettor can hedge themselves against any of these types of wagers, allowing them to walk away from a winner or less of a loser at the expense of their profits because they would have to make another bet to the sportsbook.
Strategy 5: Multi Bets
Multi betting is a highly profitable betting strategy that is common in sports such as football and among many players in all its different types of sports betting. This is where players place a number of bets on just a single betting slip. Meaning if a player places bets on two or more results (e.g. on two different football games), they will be automatically displayed as a multi or parlay bet, where the total odds are calculated by multiplying the odds of all the individual picks. Multi bets are also known as parlays or accumulator bets.
What are Multi Bets?
Multi bets are not just standalone bets, rather it is a general term that is used to address a group of bet types. In short, a multi bet is any bet that is not a single bet and is a type of bet that allows bettors to bet multiple times while using just a single bet slip. If the bet is won, then the payout that they gain from one bet is rolled over and used as a stake for the next bet.
The greater the number of bets, the higher the player’s profits will be at the end of the game. Take for instance a treble bet—a bet that involves three bets—if the player places three bets and wins, he will use the payout from the first bet as a stake on his second bet, so on and so forth for all three bets. If he wins all three bets, then he will receive a significant payout.
As a result, the player can choose from multiple betting options given that there are many types of multi bets that are peculiar in their unique way, with each bet being able to fetch players a huge profit, making them worth the risk.
Types of Multi Bets
When it comes to multi bets, these are the few types of popular bets available:
- Double bet: This bet consists of two different bets. However these bets are dependent on one another. For example, if the player bets on two different football games on two different occasions (his first bet being on team A to win, and his second being on team B to win). If team A wins, then the payout will be used as stake for team B’s bet. If both teams win, then his total returns will be calculated and paid to him.
- Treble bet: A multi bet that requires all three bets to succeed in order to receive their payout. Like the bets earlier, the wins from each bet will be carried over as a stake for the next.
- Accumulator: A multi bet that consists of more than three bets, such as 4-folds, 5-fold, 6-fold or more depending on how many bets are in the accumulator. Like the multi bets from before, all bets must succeed for the player to receive their returns.
The Advantages and Disadvantages of Multi Bets
The first advantage of a multi bet is that the payout from previous bets can be rolled over as a stake for their subsequent bets. While in full cover bets, players can still make a profit even if not all bets win. And if the player meets other requirements stated by the bookmaker, then they would win some bonus.
The only disadvantage is that full cover bets will cost the player a lot since each of the bets must be given their separate stakes. Also, non-full cover bets are riskier because a loss in one of the bets results in the loss of the entire bet. This makes the multi bet to be a strategy that must be exercised with caution.
In a Nutshell…
If you are looking for ways to gamble online, then this article is for you. Here, we will take a look at some of the 6 quickest and easiest ways to get started with gambling online. We will also look at some of the benefits of gambling online.
These are some of the common betting strategies used by seasoned online betting players around the world. With this set of knowledge, it is time to use it to line your pockets on i8!