So you’ve placed a bet on a sporting event and now you’re wondering what happens next. You’ve heard of a sportsbook offering “rolled-over odds”, but what exactly do they mean?
A rollover in betting basically occurs when the bookmaker’s odds adjust after a match or event. For example, you place a $10 wager on the over (winner will score more than the under) in the 4th quarter of a football game. The sportsbook may open the Window and allow you to switch your bet to the under (score less than the over) for just $5.
It’s a great way to get extra value for your money, not have to worry about the results of a game you’ve already paid to see, or chase down the results of events you’ve already bet on. The most significant rollover that may occur is after a tie game or event. In those cases, the payout may be zeroed out to avoid any possible controversies regarding a “drawn game.”
Why Do Sportsbooks Offer Rollover Odds?
Since the beginning of time, man has searched for ways to make money from gambling. Before sportsbooks existed, the only real option for sports bettors was to go to a track and bet on the horses or to place wagers on the outcome of live games. Nowadays, there are numerous sportsbooks, each catering to a different group of sports enthusiasts.
Back in the day, a tie game after three quarters would result in massive, sometimes ridiculous, rollovers. In those days, if you bet on the over and the game ended in a tie, you’d lose your wager. The same thing happened if you bet on the under and the game ended in a tie. To avoid those kinds of problems, most sportsbooks will now reduce your original wager by the amount of any applicable rollover. This is sometimes termed a “rolled-over odds” offer.
What if you want to place a wager on a game that ends in a tie, but you don’t want to use a rolled-over odds option? The solution is simple. Most sportsbooks will now allow you to create a “custom matchup” or “side bet” with a bookmaker who doesn’t offer rolled-over odds. It’s not exactly ideal, but it’s better than being stuck with a tie.
The advantage of using a bookmaker who offers rolled-over odds is that they’re likely to give you better odds on more events. If a bookmaker doesn’t offer these kinds of odds, you’re often forced to play with the same group of people (and that’s no good if you want to attract different kinds of bettors).
How Do I Calculate The Amount Of My Rollover?
This depends on how the bookmaker structures their odds. Most books will tell you how much you need to put down to receive the amount of rollover you’re looking for. To give you an idea, if you want to receive a 50% rollover on a $10 wager, you need to bet at least $20. A 25% rollover requires a $40 wager. These are just examples, of course; it varies by bookmaker.
Knowing how much you need to wager to get the amount of rollover you want is important for your own financial wellbeing, but it’s also important that you calculate it correctly. One thing you need to keep in mind is the vigorish (sometimes called “juice”), the percentage of money that the bookmaker takes as a commission from each wager.
Since the inception of sportsbooks, the vigorish has always been a highly debated topic. Some people believe it should be 100% rebate while others think it should be zero. To find the sweet spot, you need to consider the amount of money you’re wagering and the likelihood of you winning. A 100% rebate is probably best for low-percentage bets or those who are just getting into sports betting.
The larger the bet, the more you’ll benefit from a lower vigorish. On the other hand, if you’re a high roller who’s wagering a lot of money, you might want to consider a higher vigorish since it reduces the amount of money left over for payout. Naturally, this is all dependent on how risk averse you are. If you’re not comfortable taking risks, go for the higher vigorish.
To find the amount of your wager that’s been rolled over, you’ll need to look at the sportsbook’s rules and regulations. Most books will disclose this information on their website or in their sportsbook app. You can also call the customer service number and ask the bookmaker to reveal this information. Keep in mind that this number may be charged by the minute so be sure to consult with a local lawyer if you’re worried about any legal ramifications stemming from the use of automated phones to calculate wagers or if you have any other questions regarding this subject matter.
What Are The Legitimate Uses For This Technique?
Since its inception, the use of rolled-over odds has been restricted to wagering on sports events. However, this is not always the case and these days, you can find similar odds for other types of events as well. For example, you may be able to find rolled-over odds for the Powerball lottery or casino games where you can wager on the number of shots it will take for the ball to drop into the basket. Just make sure you’re not violating any government rules or regulations when doing so.
In the right circumstances, this technique can be quite useful. For example, if you’re watching a game that ends in a tie and you want to make sure you get your money back without having to play a drawn game (one where both teams score), this is the perfect way to do it. Just remember that in most cases, the amount of your wager will be reduced by the amount of the applicable rollover. In some instances, you may be able to get the full value of your bet if the game is tied.
What If I Lose?
In the grand scheme of things, sports betting is relatively risk-free. Most books will offer insurance against gambling-related losses up to $100. Just make sure you notify the bookmaker that you’ve been in contact with via email or phone call before making further wagers. This way, they’ll be able to process your request for insurance promptly. In rare instances, this technique can lead to insolvency in cases where the gambler repeatedly goes over the odds. To avoid this, some people will recommend setting a weekly limit on how much you can wager. It’s also a good idea to speak with a personal financial adviser or a professional accountant regarding your betting activities.
The bottom line is this: it’s now possible to place wagers on almost any sports-related activity, including individual sports and team sports. The odds may not always be the best, but at least there’s a place to wager.