Do I Get My Stake Back If I Win An Online Bet?
If you’re new to the world of online sports betting, placing a bet can be a pretty scary thing. What does it mean? How much can you actually win? And what really happens? These are valuable questions and at the heart of it all are your odds of winning.
It is the odds that determine just how much you will win in return for how much you bet – called the stake. It probably all seems confusing at first, but once you get used to it, you’ll be able to place a bet and know exactly what you’ll win if you pick a winner.
First, the Math
Most punters want to place bets on sports they enjoy. It’s common for bettors to place sports bets on big games, too, like NCAA basketball Final Four or the Super Bowl. But mostly, sports bettors are merely fans wanting to put their knowledge of a game or players to the test and earn a little cash along the way. Being a fan of a certain sport, a squad or a team are all precursors for placing your bets. Online betting is also a great chance for you to get in on all the action, with something a little more than just self-respect at stake.
The thing with sports gambling is that it comes down to mathematics. If you understand the match behind a particular game, you understand the game, and this gives you an advantage when it comes to placing your stakes.
In sports betting, the math is somewhat daunting. Depending on your sport of choice, you may need to consider things like underdogs, injuries, ratings and bye weeks.
Just how difficult is sports betting mathematics? Well, the math behind placing that winning bet can be complicated, but staying ahead of the bookies, easier than it looks. Yet again, though, it all comes down to odds.
How Do the Odds Really Work?
At a glance, sports betting odds are designed to give you an idea of how likely it is a competitor or team will win and how much you can expect to make off your stake. In other words, odds give you a quick idea of the favourite and the underdog.
To come up with odds, bookmakers take a variety of factors into account. This can include everything from what other online sportsbooks are offering through to previous matchup results. Bookies will then adjust the odds in real-time, based on things like the weather, injuries, and how much betters stake on an outcome.
Can You Master the Odds?
Yes, there are a few ways to make the most of betting odds. To give yourself an improved chance of a successful stake, you can try:
- Doing research. This helps when it comes to deciding what to stake your bets on. Whether its following tips or statistical data, you’ll have a better chance of winning more than losing.
- Keep placing bets. The more you place, the more familiar you become the odds and what they mean for potential returns.
- Finding excellent value bets, especially in the more competitive markets. Converting the odds into probability gives you a decent idea of just how much value there is in certain odds. Also, take other factors into account, like a team’s form, to make your bet even more valuable than it may look.
Are There Really Good Odds?
There is definitely such a thing as worse value and better value, and it’s mostly related to the odds a sportsbook has on offer. Better odds, sometimes, can be hard to determine from worse odds if you’re new to online sports betting. But once you gain an understanding of odds in particular sporting events, you can take advantage of the value on offer.
What’s more, you’ll be able to figure out where the goods odds are by comparing the odds of a match over a handful of bookmakers to get the most for your stake.
If I Win, Will I Also Get My Stake Back?
As soon as you place your bet online, calculating your winnings is a good way to help you understand the odds. Let’s say you place a £10 on 3/1 odds and the team wins. This is how your winnings will be calculated:
- 3/1 = 3. In the case of your bet, £10 represents the 1, while the three equals £30.
- Your stake is returned to you if you win. So, 3/1 means you stake £10 and you win £30 + your stake, which equals £40.
As you can see, when you win an online bet, you will get your stake back over and above your winnings.