There is a lot of misinformation when it comes to online betting. Some people believe it is all fun and games, while others think it is all shady. Luckily, we are here to debunk the common misconceptions and explain exactly what online betting is and how it works.
What Is Juice?
For those unfamiliar, “juice” in online betting is the payout a bookie will make you if you place a bet on the outcome of a sporting event. You are not actually betting on the game, but rather the point spread or over/under bets made on the game. In other words, you are betting on which team will score more points than the other team.
Let’s assume you put $100 on the New York Giants to win the Superbowl this year. If they do in fact win the Superbowl, the bookie will pay you $600, or 600% return on your initial investment, for simply placing that bet. Most people assume this is a good deal, since a win will likely result in you making money. However, this is not necessarily the case. You might not be able to cash out your winnings for some time, if at all, since the bookie, whose business this is, will most likely want to avoid paying out large sums of cash to a single customer. As a result, you might be better off waiting to see if the Giants will win before cashing out, as this is usually when these types of returns are given out. If they do not win the Superbowl, you will end up losing your $100, but you will at least have the satisfaction of knowing you tried.
Is It All Bad?
On the opposite end of the spectrum, some people believe that all online betting is fixed, and that the games are all predetermined ahead of time in favor of the house, or “overseer.” While it is true that there are fixed odds betting sites where the house always wins, this is not the case with all online betting sites, as there are also sites where you can have a good faith belief that your chosen team will win.
If you are simply looking for a place to place bets or are playing for fun, you will be at a site where you can reasonably assume the games will be fixed. However, if you are looking for a way to actually win money, you will need to look elsewhere. Most importantly, if you are wondering whether or not to join an online betting site, keep in mind that the key to financial success is to only bet what you can afford to lose.
The Downsides
Let’s assume for a moment that you decide to go ahead and place that $100 bet on the Giants. The bookie will then get their fingers crossed, hoping that the Giants will in fact win the Superbowl. To make matters worse, there is nothing they can do to change the outcome of the game. Unless the officials make a mistake and declare a Giants victory, your $100 will simply be eaten away by the vigorish, or commission, until you either win or lose your entire investment.
The more you play, the more you will learn. Sometimes it is better to walk away than to continue sinking money into a losing cause. If you suspect the games are fixed or you simply do not have the time to study the odds every week, then it might be best not to play at all.
The Ugly
Some people believe the sites where the games are fixed are the only sites where you should play, and that all the rest are scams designed to fleece innocent gamers. It is true that sites like that exist, but you will also find a lot of value at legit sites, as long as you know how to play smart.
Playing at a legitimate site means you can be sure that the games are based on the odds that are actually available to be chosen by the public. At these sites, you will also find a ton of information about the odds and a helpful community of players, many of whom are more than happy to help you learn how to win rather than just take your money.
The Payment Methods
Another common misconception is that you can only use one of three methods of payment at online betting sites: credit card, PayPal, or bank transfer. While these are the most popular methods of payment, you will actually find a lot of sites that accept all kinds of money, including coins.
Some people believe that using coins is risky, since you do not actually have any control over whether or not the site will accept them. For this reason, they choose not to use them. However, there are also people who prefer to use coins, as they feel it adds an element of risk and unpredictability to their gameplay.
The Biggest Difference
Finally, some people believe there is a huge difference between the different types of wagers offered at online betting sites. Some claim that in order to actually win at online betting, you need to place the largest wagers, while others say the opposite. The truth is that it depends on what you are looking for. For example, if you are looking for a way to make money quickly, you will need to stake fairly large sums of money, as this is how the rakeback system works. In this scenario, it would not be advisable to play at a site where the smallest wager is $1, as you will not be able to win enough money to make up for the fees you will incur playing there. On the opposite end of the spectrum, if you are looking for a way to have some fun and make a few easy bucks, you can have a good time betting smaller sums at a legit site. The most important thing to keep in mind is that there is more than one way to have fun and make money at the same time, as long as you know how to position yourself accordingly.
This is a brief overview of what is juice in online betting sports. Now that you know the basics, it will be easier to navigate the differences between various sites and know which ones are scam sites and which ones are legit. Additionally, if you play at a scam site, you can rest assured that you are simply wasting your time and the site’s owners will never pay you back. All you have to do is report them to the appropriate authorities and leave. For those interested in actually winning at online betting, continue reading.