Online bookmakers are persons or groups who accept bets on event outcomes from the bettor via internet platforms. Some of the terms the bettor needs to be familiar with are detailed below with definitions to go with it.
As implied by the name, only one event has to be backed on the bet. The outcome of the bet depends solely on one game.
These type of bet involves only two games. For the bet to be won, both events must have the predicted outcome.
This refers to a single bet that bears more than one event. When more than two outcomes are linked on a single bet and in order for it to be won, it is dependent on all events on the bet.
This is the amount of money the bettor intends to place on a particular bet. The higher the stake, the higher the returns.
these are numerical value based on the possibility of a result. Odds could be expressed in fraction or decimal forms. It is the multiplier of the stake the bettor would place on the bet.
These are strongly fancied bet combination for winning.
This refers to live betting on outcome as event is going on.
This term is becoming more widespread. This refers to not waiting for the final outcome of the event after the bet has been placed and game has started. This in a way reduces risk and it is often lower than the expected return as game did not run to the end.
This refers to reduction of the 3 possible outcomes of Win, draw or loss into 2 wherein a single price is offered for 2 out of the 3 possible outcomes. The odds for this are lower as it is less risky than outright selection.
Bookmakers use this to give advantage to the weaker side going into the game. The lower the handicap value on the weaker side, the higher the odd on the bet and vice versa.
This is often denoted by 1X2 where 1 refers to the home team, X is for a draw and 2 stands for the away team. The bettor places his bet by selecting one of these and then stake on it.
Some of the key rules common to any bookmaker include:
1. Bettor must be over 18 years of age.
2. Bettor should not engage in insider dealings to know the outcomes of the events of bets before they are staked.
3. Bettors must gamble responsibly.