You’ve probably heard of sports wagering or betting. But have you ever considered what it would be like to bet on the outcome of a boxing match? Thanks to the advancement of the Internet, it’s easier than ever to set up a pool with your friends to place bets on who will win various boxing matches.
If you’re considering making a boxing betting pool, here’s how you can do it.
The Basics
The first step is to decide which boxing matches you want to bet on. You don’t have to limit yourself to just the major fights, as there are many other interesting matches and competitions that you can choose from. For example, you can have a boxing pool contest where you pick the winner of each round. You can also have a knockout competition where the last man standing wins. These are just some of the possibilities that exist with boxing.
Decide how much you’re willing to spend on each wager. You typically have to set a limit, whether it’s per person or per team. Setting a limit is a good idea if you want to keep your betting pool organized and hassle-free. Also, make sure to set the deadline for submitting your bets. This will help you avoid any last-minute disputes about who won the pool.
How Do I Get Started?
Once you’ve decided which boxing matches you want to bet on and have set the rules for the pool (more on these below), you can get started by creating a team. A team is simply a collection of individuals who will participate in the pool. You can have a team named after a famous boxer or for a specific event such as the “Manny Pacquiao” team or the “Gym Jones” team. Then, you’ll just need to add your teammates.
To create a team, click on the “Team” link in the top menu bar. You’ll be brought to the team management page where you can enter in all the information about your team. You can give your team a captain, add members, and even change the team name. When you’re done making changes, click on the “Update team” button at the top of the page to save your team settings. You can now add your teammate’s information.
The Rules
Now that you have your team set up, you have to decide on some rules for the pool. These will establish the ground rules for your betting pool and should be followed by everyone who participates. You can use one of the many pool organizing websites to help you set up the rules. Once you’ve set the rules, you can come back and change them any time you want. The important thing is to make sure that everyone who participates in the pool agrees to the rules before they start placing bets.
Many pools will require you to have a betting account with an online bookmaker. You don’t need to have a large account to participate in a pool, but you do need to have enough to make a single bet. The advantage of using a bookmaker is that they will take care of the payment for you. Meaning, you’ll receive your winnings on schedule. If you don’t have a betting account, don’t worry—you can open one with minimal information. Just make sure to follow the rules when you make your initial deposit. After you’ve made your initial deposit, you can use the deposited money to place bets on the fights or competitions in your pool. You don’t need to have a betting account to participate in a pool. Just make sure to follow the rules when you place your bets or wins will not be credited to your account.
Before you start placing bets, you should familiarize yourself with the rules of the pool. These will vary depending on which website you used to create the pool, but generally they will include things like:
- Fair Betting
- No Outside Betting
- No Free Bets
- Cash-Back On Lost Winnings
- No Cash Out
- Min/Max Winnings
- Stakes For Rounds Won (if applicable)
- Team Meetings To Discuss Strategy
- Private Messaging (if applicable)
- Virtual Currency (if applicable)
Where Can I Place My Bets?
Now that you have a pool setup and the basics are taken care of, it’s time to start thinking about where you’ll place your bets. It’s imperative to choose a location that is easy to access from all of your teammates. Plus, you want to keep your betting activities organized so that it’s easier to keep track of what you’re doing. Thus, the convenience of the Internet is vital. You can use a number of different websites to help you place your bets, but it’s important to keep in mind that not all of them will be able to assist you with your pool. If you’re looking for a bookmaker that handles boxing pools, for example, you might have to search internationally to find one that does so. Fortunately, there are several reputable online bookmakers that handle casino wagers and can be used to set up a boxing pool as well.