You may have heard of leans, which are bets placed on sporting events with an element of chance. The concept is somewhat similar to that of a “double or nothing” bet in that you are essentially placing a wager that the odds will fall in either direction. In most cases, you will be required to pay a sum of money up front, which is then refunded (minus a small commission) if your selection loses, or you place a winning selection. In the event that your selection wins, you will simply have to cover the cost of the wager.
While the concept behind leans is interesting – and, let’s be honest, potentially lucrative – the practical implementation can be quite frustrating. The major issue is that most bookmakers offer only the most basic leans, which only provide odds correction in the event of a winning selection. They do not enable you to leverage the game (which is what you can do with some other types of betting). In other words, if you place a winning selection, the bookmaker will simply reduce the amount you owe as a refund, and that’s it – they don’t offer any sort of interest or additional winnings. This can make leans less appealing for people who want to rapidly increase their earnings with minimal effort.
Why Do Bookmakers Only Offer Basic Leans?
The main reason many bookmakers don’t offer more complicated or advanced leans is simple: these types of bets don’t generate enough profit to make it worth the effort for them to provide this service to clients. For example, in the 2015/16 season, the Premier League’s top four leagues (England’s top flight, La Liga, Serie A and the Bundesliga) combined for around £25 billion in box office revenue across all competitions. This breaks down to around £4.8 billion from betting alone. A large chunk of this came from the four English leagues, with around £3.6 billion coming from the Football League (mid-table English football, typically for teams in the top four tiers) as well as from the Scottish Premiership and the Irish Premier League. The remaining £150 million came from Japan’s top flight, the J.League.
Clearly, football’s popularity around the world has made it an attractive market for bookmakers looking to expand. In the United Kingdom, for example, betting on football is now legal, whereas it had been outlawed for nearly a century. In keeping with this new ‘green’ trend, more established bookmakers are looking to reduce their environmental impact by cutting back on some of their less profitable activities, such as providing fixed odds betting systems or basic leans. For them, maintaining a large array of these basic systems is just not worth the energy consumption.
What Types Of Leans Are Available To Clients?
The good news is that, although most bookmakers only offer basic leans, there are several other types of bets that are more suitable for people looking to make money from leverage. These are known as ‘long-shot’ bets or ‘odds-on’ bets, and many bookmakers offer them. What exactly do these terms mean?
A long-shot bet is one where you are placing a wager on an unlikely event that has a low probability of occurring. For example, if you back Leicester City to beat Manchester United in the next Premier League match, you are effectively placing a long-shot bet on Leicester, since United are 15/2 (1.75) favourites to win the match. In this case, you will need to stake £110 to make a profit of £55 (if United win the match), or £110 if they draw or lose.
An odds-on bet is one where you are placing a wager on an event that has a definite outcome. For example, if you back Arsenal to win the Premier League, you are effectively placing an odds-on bet on Arsenal, since they are 13/2 (1.75) favorites to win the league. In this case, you will need to stake £110 to make a profit of £55 (if they win the match), or £110 if they lose.
The key difference between a long-shot bet and an odds-on bet is that with an odds-on bet, you know precisely what the outcome will be – a definite result with definite odds. With a long-shot bet, the outcome is not certain, and there are several possible outcomes. This, in turn, makes it more suitable for people looking to make an investment rather than a quick buck.
How Do I Place A Long-Shot Bet?
As mentioned, you will need to place a long-shot bet via an online betting portal. Placing bets via these platforms is made easy by the fact that they provide a safe and secure way to place wagers. They also provide a range of betting products, from single events to full sportsbooks – the ideal place to start if you are new to placing bets.
To place a long-shot bet on Leicester City to beat Manchester United in the next Premier League match, log on to a betting website and click on the ‘Sports’ button. You will then be presented with a range of sports that you can select from. Under the ‘Betting’ tab, you will see a section entitled ‘English Football’. From here, you can click on either ‘Tabloids’ or ‘Other’ to access the full range of sports. You will then need to scroll down to the section for ‘Leicester City vs Manchester United’. Here you can place your bet along with several other options, including options for betting on other teams in the same competition and events from other sports.
Some online betting companies will even allow you to make an educated guess as to the result of an event, provided you are within certain margins of error. For example, if you believe Liverpool are going to beat Leicester City, you might want to place a small lay on Liverpool to win the match, or you might want to back the favourites, leaving a small amount of money on the coin to determine the winner. In either case, this is the sort of thing that an online betting company can help you with – providing an alternative way to get results other than just backing your favorite team.
What Types Of Leans Are Available To Me As A Client?
As a client of a betting house, you will need to ask the provider how they handle long-shot bets, though the good news is that this varies from website to website. One of the key metrics that you will want to look out for is the bookmaker’s approach to these sorts of bets. Look for those that offer a good variety of these bets and those that have an interest in providing an environment where these sorts of bets are welcome and can be readily available for their clients. In general, you will want a betting company that has a good understanding of how to place these sorts of bets profitably.
Are There Any Advantages To Being A Client Of A Bookmaker?
Apart from the obvious advantages of placing bets online via a reputable bookmaker, such as the security and ease of doing business, there are several others. For example, many bookmakers have loyalty programs for existing clients, providing additional perks (such as free bets and special offers) that encourage repeat business.
Additionally, if you have a smartphone, you can use the bookmaker’s app to place your wagers on the go. And, of course, you can always call customer support if you have any questions about how to place a wager.
The bottom line is that though most bookmakers only provide simple bets, several others will accommodate your needs if you know where to look. In the end, betting on sports is a fun and rewarding experience, but you must remember to do your research first and find a reputable place to do business with.