What Is Paramutual Betting?

If you’re reading this, I assume you’re either a football fan or a gambler. The former loves nothing more than getting up close and personal with the action on the pitch, while the latter loves rolling the dice and playing the odds. We’re talking about you, regular punters who either can’t get enough of the action – or the drink – or both.

If you’re looking for a way to get your fix, you’ve probably noticed a surge in the number of betting shops popping up around the country. Many sportsbooks have adjusted to the new reality of legalized, regulated sports betting and have introduced some novelties of their own, creating an environment where experienced bettors can still have a flutter without fear of prosecution.

One of the most popular of these innovations is paramutual betting. Better known as ‘pro-tipsters’, these outlets allow punters to bet alongside professional tipsters who make their living following the action across the sporting spectrum and giving their predictions on the outcome of sporting events. Typically, a pro-tipster will work with a number of bookmakers across Europe, who take a bite out of the profit should their predictions come true. As a result, it’s frequently said that you can’t go wrong placing a bet with a pro-tipster, as they’re often reliable at predicting the outcomes of sporting events.

What Is Paramutual Betting?

In plain English, paramutual betting is betting with people seated at other locations than the one where you are. This type of betting has been around for a very long time and was popularized during the ancient Roman circuses, where spectators would bet against the animals in a variety of fun and lucrative activities. In modern-day parlance, this type of betting could be described as ‘remote betting’, as the betting locations are typically at a distance from one another. However, with the development of the internet and the advent of online casinos, sportsbooks and betting rings, it’s become popular to place bets from the convenience of your laptop or mobile device. This has resulted in bookmakers taking the concept of remote betting one step further and allowing bets to be placed from anywhere in the world, as long as there’s an internet connection!

Online bookmakers may set their own limits on the amount you can bet, so make sure you read the terms and conditions carefully before committing.

The Growth Of Online Bookmakers

As the name would suggest, online bookmakers provide an online environment where bets can be placed. These outlets may only operate within a strictly regulated sportsbook environment and are obliged to ensure that bets are placed lawfully and in good faith.

Due to the ever-evolving nature of online technology and the growing popularity of the internet, online bookmakers have shifted to being digital natives and are constantly looking for ways to improve their services. For instance, some have implemented video tutorials on how to place bets or provided detailed FAQs to answer any questions.

The Benefits Of Online Bookmakers

One of the major attractions of online bookmakers is that they provide a safe and secure environment for placing bets. What’s more is that the entire process of placing a bet is fairly painless and requires minimal interaction from the user. For instance, you may wish to place a pre-order for the new album from your favorite band by clicking on a link in an email or on a social media website. Once you place the order, the album will be delivered to your inbox or your social media feed. Similarly, you may place an order for a pizza to be delivered to your home, all without having to leave the comfort of your couch.

You may also notice that bookmakers provide a wealth of information about the events you’re interested in following. This includes the history of the sport, the statistics that accompany each game, key news stories and much more. Essentially, all you need to do is identify an event that you’d like to follow and the online bookmaker will take care of the rest. You may further customize the types of content you receive from bookmakers by selecting what you want from a drop-down menu or selecting which categories you want to see in your daily digest emails. For instance, if you follow cricket, you may want to receive alerts for every player that scores a run or takes a wicket. The information is all there in the drop-down menu, regardless of whether you follow sports like motorsport, horse racing or boxing. It’s all about options!

Additionally, as we mentioned above, online bookmakers provide a safe and secure environment for placing bets. What this means is that you don’t have to worry about whether or not your personal information will be compromised. Simply place your bet using a credit card or via a digital wallet like PayPal and you’ll be good to go.

Many online bookmakers offer an additional layer of security via two-factor authentication. When you use this option, not only do you need to supply your password, but you need to enter a code that is sent to your mobile device. This prevents cybercriminals from accessing your account should they steal your authentication details. It’s also worth recalling that online bookmakers are legally required to screen their employees for dishonesty and incompetence, so you can rest assured that your bet will be placed with a trustworthy and reputable firm.

Watch The Action, Not The Return

Another major benefit of online bookmakers is that they allow you to follow sporting events that you might not have access to otherwise. In the past, the only options were to either follow a sport locally or regionally, or to follow a team or a player that you admire. The problem with the first option is that not every team or player will have an event every week, so you might miss out on a game. The second option is also somewhat restrictive as you have to rely on other people to decide which games to watch and which to ignore. This is why online bookmakers offer the ability to follow any sport, anywhere, anytime. All you need is an internet connection and a laptop or mobile device. These devices are portable, so you can take them anywhere and use them. This includes stadiums, arenas and much more!

As a result, it is often said that you can’t go wrong placing a bet with a pro-tipster, as they are reliable at predicting the outcomes of sporting events. If you identify a game that you want to follow, but don’t have the time to watch live, you may use online bookmakers to place your bet. You’ll simply need to do some research into the best odds available and make a decision. Sometimes it’s just not worth watching the game live, as you might miss something or change your mind about a play once you see it again. In these cases, online bookmakers are perfect for backing up your opinion or watching the action from a different perspective. This could be particularly beneficial for international matches, as you might not understand the language or have access to the English-language broadcasts. This is why it’s important to do your research before placing a bet!

The Downsides Of Online Bookmakers

On the downside, not all online bookmakers are created equal and some have been known to take advantage of their customers, both big and small. If you do decide to place a bet with one of these firms, it’s important to do your research before doing business with them. It might also be a good idea to join a bookmakers’s forums, where you can get an inside scoop on how the casino treats its valued customers. This way, you’ll know what you’re getting into and can avoid any unpleasant surprises once the winnings are deposited into your account.

Additionally, some customers have complained about the lack of support from online bookmakers, especially when it comes to issues concerning deposits and withdrawals. Due to the nature of the industry and the fact that many of these firms are located outside of the country, these transactions can take a bit longer than usual to process. However, given that this is a minor complaint, it’s probably not something you’ll have to worry about.

The Bottom Line

Overall, online bookmakers are a very convenient, safe and secure way of placing a bet. As a result of their popularity, many people are questioning whether or not traditional bookmakers have a future. Will sportsbooks become obsolete or will they continue to adapt and evolve, providing more convenient and informative ways for their customers to place bets? Time will only tell!