When you place a wager with Bookmaker, you are making a bet that the price of the chosen event will be less than or equal to 1.5 times the price of the original wager. In layman’s terms, this means you are betting the price of the event will be lower than 1.5 times the money you originally laid down on the bet.
You should always keep in mind that if the bet comes up favorably, you will win double your initial investment. However, if the bet comes up unfavorably, you will lose the amount you originally laid down plus the amount you win in the original bet.
It’s important to note that this particular type of bet is commonly known as a “unit” wager, so if you want to place a unit wager on the game’s outcome, simply add 1.5 to your original wager before placing the bet.
Understanding The Basics
Before you get too far ahead of yourself, it’s important to understand the basics of this type of wager. You are not placing a simply “1.5” wager; you are placing a bet that the price of a given outcome will be lower than 1.5 times the original wager. For example, if you originally wager $100 and the price of the selected outcome is $200, you will win $100 (plus your original $100) or lose $100 (your original $100).
As you might imagine, the likelihood of you winning on such a bet is highly dependent on the odds of the given event. If the event you choose has very poor odds (like the winning of a jackpot in a slot machine), you may end up losing more than you would have if you had simply placed the original wager. However, if the event you choose has very high odds (like the stock market in general or the price of oil in general), you will have a much better chance of winning.
More About The Outcome
If you’re curious about exactly how much you stand to win or lose based on the outcome of a given bet, you can simply use our tool to calculate it for you:
- Profit or Loss: This indicates what you stand to win (profit) or lose (loss) based on the outcome of the bet. For example, if the outcome is a loss, you will lose the amount you originally laid down plus the amount you won in the original bet. If the outcome is a profit, you will win double your initial investment.
- Probability: This is the percentage of outcomes that will result in you winning based on the odds of the event. For example, if the probability of a slot jackpot is 1 in 20, you have a 20% chance of winning if you play the slot machine once.
- Expected Value: This is a way of determining the actual value of an outcome based on its probability. In the example above, the expected value of a slot jackpot is $100 given the probability of 1 in 20. This means you can expect to win $100 on average if you play the slot machine once.
You should understand the basics of this type of wager before you start placing them on your favorite sports teams or popular TV shows. You may find it more convenient to use our calculator to randomly select an outcome and bet on it, rather than trying to figure out the odds of each possible outcome yourself. Bookmaker makes it easy!