If you’re a sports lover, you might have heard of the practice of ‘buyback’ betting. The term refers to a type of wagering where you place a bet on an event that will be played later in the same day. In most cases, the odds of this type of bet are set by the bookmaker, however, you can sometimes get paid more favorably if you are able to accurately predict the outcome of the game.
The Main Benefits Of Buyback Betting
In most cases, buyback betting offers some great benefits to the sports gambler. If you’re able to accurately predict the result of a game, you might be able to get your money back with no problem at all. Should an event end in a draw, you might get your money back with a small amount added in addition to your original bet. It’s a fairly common occurrence for bookmakers to offer a buyback guarantee if an event ends in a draw.
Another great thing about this type of bet is that the outcome is already determined. So, there’s no risking that your predictions will prove to be wrong. In most cases, you’ll know how the game is going to end before you even place your bet. This means you can plan your betting strategy accordingly.
Additionally, due to the short nature of most sports contests, there’s generally not a lot of time for the games to settle. If time was on your side, you might have a chance at some spectacular profits from this type of bet. Bookmakers generally have a very short time frame in which to settle bets, so in the event of a tie, you stand a good chance at winning your bet. Due to the high volume of wagers that they handle on a daily basis, odds are generally very favorable to you in this type of situation.
Buyback Betting Is Pretty Popular
If you’re a sports fan, you might have tried or even considered buyingback betting at some point in time. The odds of getting paid fairly for this type of bet are generally very good, which makes it very attractive to sports fans who enjoy the thrill of winning or getting their money back. Due to the time constraints that most bookmakers are operating under, it’s not uncommon for them to offer some great incentives for this type of bet, such as free bets or discounts on future wagers.
There are also a variety of mobile betting applications that can be used to place buyback bets from anywhere. This makes it very convenient for mobile sports fans who want to keep up with the scores wherever they go. The only downside to these types of applications is that they generally require a mobile phone signal, which can be somewhat spotty outside of major cities.
The Major Drawbacks Of Buyback Betting
While there are a variety of great benefits to buyingback betting, there are also some serious drawbacks. One of the main problems is that the game is already determined. This means there’s no ambiguity as to the outcome of the event. Additionally, you are required to place your bet at the point of the game, or at least within the first 20 minutes of the contest. In some cases, this can be very frustrating if you are unable to place your bet until the end of the game.
If you’re a serious sports gambler who enjoys the thrill of winning or getting your money back, you might be tempted to try buyback betting. However, the major drawback is that the game is already determined. This makes it very difficult to be precise with your predictions. Due to this fact, it’s usually best to avoid buyback betting if you’re looking for a way to make money from sports betting.
An additional problem that some sports fans encounter when betting with bookmakers is that their interface is generally quite complicated. Even professional bettors can have trouble keeping up with all the terms and conditions that are associated with certain bookmakers. Due to the fact that sports betting is such a dynamic and ever-changing business, many bookmakers have decided to keep things simple and avoid using jargon or lengthy legal terms when explaining their betting interfaces to customers.
How Do Bookmakers Make Money From Buyback Betting?
As mentioned above, the majority of bookmakers will offer some form of buyback guarantee. In these instances, you’ll need to make your wager within the first 20 minutes of the game. The important thing to keep in mind is that you need to meet this minimum bet within that timeframe. In most cases, this means you’ll need to place your bet before the end of the quarter or before the end of the first half. For instance, in college football, this could mean you’ll need to place your bet by the end of the second quarter or before the end of the first half. In most instances, the money you bet on the outcomes of these types of games will be spread over several accounts. These accounts will be credited per your agreement with the bookmaker. In some cases, you might be required to wait for the money to be settled in your account before you can make any withdrawals.
In some instances, bookmakers might even give you an additional bonus for accurately predicting the result of the game.