Begginer Betting Guide
If you are new to betting then we have compiled a basic guide below to help you get started.
We will explain different types of betting, different odds and bets as well as explain some useful terminology.
Spread Betting
Is a type of betting where you would bet on and outcome being great or less than an outcome specified by the bookmaker. Depending on How wrong our right you are dictates the amount you win.
The bookmaker may predict that Manchester United will score there first goal in the 47th Minute. I
Here we explore some of the basics to help you understand betting:
Stake
When you place a bet the stake is the amount of money you are wanting to gamble. "Ill bet you £10" - £10 is your stake in the bet.
Odds
In the world of betting, the odds (often referred to as the price) are a way of expressing the perceived probability of a horse winning a race and it`s at this value which a bookmaker will lay his bets.
Decimal Odds
Sometimes odds are express as a decimal. ie 1.5 1 and a half times your original stake is the money you get back
Fractional Odds
Traditional British odds are nomally expressed as a fraction, ie 2/1 is 2 times your stake is the winnings
So now that you know how odds are displayed we will now describe some useful odds terminology.
Odds against
A situation where odds against are offered is where the bookmaker thinks there is little chance of a win, they will offer more than double the stake for a win. If your stake is £10, a winning bet at 5/1
(pronounced five to one) will return you £50 as your winnings plus your original stake of £10, making a total of £60.
Even money (or Evens)
This is when the bookie offers a return which is exactly double the amount staked on a win bet. If your stake is £10 the bookie will return £10 plus your stake, ie £20.
Odds on
When the bookmaker offers a return which is less than double the amount staked for a win bet. The bookmaker thinks there is a very good chance of the outcome winning. A successful £10 bet at 1/5 (pronounced five-to-one-on), will return just £2 plus your stake, making a total of £12. The word 'on' indicates that the odds are reversed.
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