You’ve probably heard of online betting or ‘gaming’ as it is commonly called. If not, you’ll soon discover that it is a very popular pastime; in 2015, it was reported that online betting will generate $184 billion in revenue globally.
But did you know that there is a specific type of betting called ‘my payout betting’? What is it and how do I do it? Let’s learn more about this curious form of wagering.
What is My Payout Betting?
My payout betting is a form of betting where the odds are determined by a formula that takes into account the payout (or winnings) for each successful bet. For example, if a bookmaker offers 2.0 for an £100 stake, and you win £50, your payout is 50%. Therefore, you win £50 in total and the bookmaker wins £100.
The beauty of this type of bet is that the house always wins. If you are correct, you will get your initial stake back, plus whatever winnings you have, less your commission. This is in contrast to outright betting, where the house only pays out what you win. My payout betting also has the advantage of ‘conforming’ (in some cases) to off-track betting (OTB) rules, which are often simpler to understand.
Why Do I Want to Place My My Payout Bet?
Placing a my payout bet is simple; the process is the same as placing any other type of wager. You will need to decide upon an amount to bet, then find an acceptable bookmaker. Once this is done, you can either search for available games or simply wait for the bookmaker to offer the types of games you are looking for. Once you find a game you like, simply make your selection and await the outcome.
The odds will never be in your favor when you bet on other people’s wins, but the beauty of this form of wagering is that you’re not risking your own money. If you don’t like the betting shop’s odds, simply choose an alternative bookmaker who offers better odds.
How Do I Calculate My Payout?
The odds that a bookmaker offers will always be displayed alongside a breakdown of the payout or winnings for that game. The payout for any given game will be determined by the odds and the stake per horse. The more popular the game, the more generous the odds and bigger the winnings.
For example, if you bet £10 on a horse named Tiger King, the odds would be very short, around 1/1 (1 to 1), and the payout for a win would be £10. However, if you bet the same amount on a horse named Hello Kitty, the odds would be longer, around 11/4 (1.25 to 1), and the payout for a win would be £20. As you can see, the winnings and odds for Tiger King are much greater than those for Hello Kitty because Hello Kitty is a less popular horse. This is why, whenever possible, you should avoid betting on popular or well-known brands or horses. The house always wins, but the odds are so favorable that it’s difficult for you to profit. Simply put, you’re taking a trip back in time to when betting was simple!
Where Can I Place My My Payout Bet?
Placing a my payout bet is simple; all you need to do is find an acceptable bookmaker. However, you will need to decide upon an amount to bet and keep in mind that the winnings will be affected by the payout percentage. A common mistake is to put down too much money on a single bet. Remember, the house will always win, but you’re not guaranteed to win unless you bet the right amount.
How Do I Verify My Payout?
Just like any other kind of bet, you can either ask the bookmaker to send you a complete verification sheet, called a ‘win slip’, or you can visit the betting shop’s website and look up the official results. In either case, the verification procedure is the same and it is very straight forward. To ensure that you get your winnings, you should contact the betting shop’s customer service team as soon as possible after placing your wager.