The phrase ‘plus money’ is used regularly in relation to gambling. However, many bookmakers use it as a marketing tactic without telling you what it means.
Does ‘plus money’ mean that you’re going to win or lose more money than you initially staked? Is it just a fancy way of saying that the return on investment is highly favourable?
Let’s delve into the nitty-gritty of what ‘plus money’ means in relation to betting and find out the answers to these questions.
Is Winning More Than You Staked Considered As ‘Plus Money’?
When you place a wager on a sporting event, the odds will usually be presented to you in the form of a percentage or fraction, for example, 50/1. If you stake £100 on a horse to win, and it does so, your £100 will be multiplied by 1.50, the most common odds applied when betting on horse racing. So, in reality, you made £150 from the £100 you staked on that particular horse race.
This example demonstrates that if you win, your profit will be higher than what you initially put in. Whether you win or lose, your investment is generally going to return more than the original stake. The same applies when you bet on any other sporting event or competition.
According to industry experts and regulators, this practice of paying out more than what you staked is known as ‘promotionally biased’ or ‘undue advantage’. It is regarded as illegal under the rules of many sports governing bodies, including the UK’s World Cup Organising Committee (WCOC), which is responsible for the organization of the football competition that is well underway at the moment.
Do Bookmakers Have A Financial Interest In Your Success?
When a bookmaker offers odds that are favourable to you as a punter, there is generally an implied understanding that the bookmaker has a financial interest in your winning. After all, you’re only going to win if they pay out according to the agreement they made with you when you placed your bet. Most bookmakers are profitable because they can charge more than people are willing to pay out on losing bets. This is known as ‘monetising the odds’.
The key document to establish the terms and conditions of your agreement with a bookmaker is known as a ‘bet slip’ or ‘bookmaker’s coupon’. Once you’ve established a betting relationship with a bookmaker, you can expect to receive offers of a bet slip in the post, which you must accept within a certain timeframe or you’ll be subjected to illegal practices. Bookmakers are legally required to give their clients equal odds and the freedom to accept or decline their offers. However, they are also allowed to have a financial interest in the outcome of a bet.
Many sportsbooks will try to hide the fact that they have an interest in your sport’s outcome. Some will employ ‘integrity managers’ who will monitor your betting activity for signs of suspicious activity or activity that may be considered as bordering on ‘undue advantage’. The integrity manager’s job is to protect the books’ interests by preventing or detecting fraud. They will have access to your account information and can verify your betting activity. If they find any signs of wrongdoing, they may report you to the appropriate governing body.
Do Different Bookmakers Have Different Odds?
Just because a bookmaker is highly rated or has a good reputation, it doesn’t mean that their odds will be the same as those offered by other bookmakers. It is well known in the industry that the odds offered by one bookmaker can vary from those of another. This is usually done for specific events, such as a football match or horse race, as the case may be. It is also done for different reasons. For example, a bookmaker may offer odds due to a recent run of successful bets from the same location or because they’re feeling generous.
It is important to keep in mind that the odds can and will change so it’s always best to check before placing a bet whether or not the bookmaker you have chosen is really giving you the odds they claim to be.
How Does ‘Plus Money’ Relate To Online Gambling?
If you participate in online gambling, you will often see the phrase ‘plus money’ used to describe the welcome bonus that certain online casinos offer new customers. This bonus is given to attract more players and gain more business. The plus money usually has a time limit imposed on it, so you’ll have to use it within a certain period or it will be forfeited. After you’ve used up your welcome bonus, you’re not going to see the casinos refer to it again. This is because the bonus is seen as a way of attracting new customers rather than an incentive for existing ones to keep playing. It is generally the same with sports betting, but with online casinos, the line between the two is blurred.
Many punters are hesitant to place bets online because of the unknown. They want to know the rules and regulations that apply to online gambling, so they know what to expect. This is especially important for those who are less experienced because they might get hurt by unexpected costs or unexpected rules. This is why it’s important to find a reliable online casino that follows all consumer protection laws and offers fair betting practices. By doing so, you’ll prevent yourself from any kind of unpleasant experience that could result in you asking for your money back.
As for your first question, ‘plus money’ does not necessarily mean that you’re going to win or lose more than what you initially staked on a bet. However, in most cases, this is what it means.