The odds of winning a lottery game are astronomical; in fact, getting numbers that end in 1, 2, or 3 is considered extremely lucky. Since these are the only numbers that an individual can win, placing a bet on them makes perfect sense.
If you’re new to betting, you may wonder what 1U is in betting jargon. Here’s a short guide to what this betting shorthand means and how you can benefit from it.
Definitions And Conventions
In plain English, 1U is shorthand for one unit of currency – like euros, dollars, or pounds – within an online betting exchange. In practice, this is the amount that you’ll need to wager to make a winning deposit of $10 or more.
This amount is also known as the Buy-in. Buy-ins range between 1U and £100, with the minimum being 1U, and the maximum being £100. So, a 1U buy-in would cost you $10 to enter a game, with a £100 buy-in costing you £110 to enter a game. If you’re entering a game that costs £100, you’re wagering £100/£110, or 1U, to enter. This is a fairly common shorthand within the betting industry, and it makes comparing odds and winning chances easier.
How Do I Use This Information?
This information is typically used in two ways:
- To compare the odds of different events or horse races. In most places, the odds of winning a given event will be found next to the event itself. So, if you want to compare the odds of winning the Grand National with those of winning a fixed-odds betting tournament, you can compare the odds of those two events directly with the click of a button.
- To determine how much money you need to wager to secure a desired return. Say you’ve entered a £100 bet on a horse named Sir Gallahad in the Epsom Derby and you want to find out how much money you have to wager with before you start making a profit. To do this, you need to subtract the amount that you’ve already won, from the total amount you’ve staked. In this case, you’d need to stake £90 more to win £10. Your stake multiplied by the odds of the event will give you your return on investment (ROI).
Rollers, or bookmakers, are the people who provide the odds for you to wager upon. When you place a bet with a bookmaker, they will provide the odds for the event you’ve chosen. If you’ve entered a cricket match, for example, your bookmaker will provide the odds for the England vs. Australia game. When you win your bet, the bookmaker will charge you a small fee, known as the Commission.
This amount, which varies from 1% to 6% per transaction, is subtracted from your winnings.
Making A Profit
Now, if you follow these simple steps, you’ll be able to make a profit from betting. First, find an event that you think is likely to yield a profit. Next, find the ROI for that event. After that, you can decide whether to continue betting on that event or not. The key to making a profit from betting is in getting the ROI as close to 100% as possible.
For example, if you bet £10 at odds of 2.0 on a horse named Sir Gallahad in the Epsom Derby and that horse loses, you’ll lose £20. But if you follow this exact same bet pattern during the next horse race, you’ll make a profit of £30, since the odds on Sir Gallahad will be in your favor.
To hit an ROI of 100%, which is nearly impossible, you need to find the right events, the right horse races, and the perfect odds. Once you do, you’ll be able to bet with confidence that you’re making the right wagers and that you’re going to win.
Getting to this point, where do you start? Well, if you’re looking for a way to make some extra money, you could try analyzing popular equestrian events and finding the right ones to bet upon. When you find a profitable event, make sure to back it with a higher buy-in to secure the desired profit.