To place a bet you will need to set up an account with a bookmaker. Once you have done this you will be able to place bets and collect winnings. You can use the following to get started:
- Betting Accounts: If you are looking for a place to keep your money whilst awaiting the results of your wagers, you can use a betting account. This is often the preferred way to place bets because you do not have to worry about tying up your money in an actual wallet. The account will hold your funds for you and allow you to bet on various events taking place around the world. The top bookies offer some incredible account bonuses so be sure to look into them. The key points to keep in mind though are that your funds are safe and you can use debit cards to make a deposit.
- VIP (Very Important Person) Packages: If you are a high roller who likes to bet big, you can get a VIP package from the bookmaker. This will give you extra perks including a personal assistant who will watch over your bets for you and make sure all your queries are answered promptly. Some of the bookmakers offer these packages to regular customers who score big or to people who refer a friend to the site. So, if you have a big ego and like to think you are important, you can get a VIP package. The key points to keep in mind though are that you are not actually getting any better odds as a VIP than you would as a standard member, and you have to keep paying for these perks whether you win or lose your bets.
- Bankroll Management: If you are looking to place aggressive bets and get the best possible return on your investment, you can use bankroll management. This involves stashing away some of your funds in advance in order to maximize your winnings. When you use bankroll management you will have to set a budget and stick to it. You will not be able to go over the amount you have budgeted for betting. Going over is not permitted and can result in your account being shut down. Using bankroll management is very popular amongst high profile bettors, sports commentators and other media personalities who need to bet large sums of money on games. The key points to keep in mind though are that you are stashing away a portion of your funds in advance which you can only use for betting and that you need to keep your betting activity a secret or else risk getting your account banned.
- Locked In Games: If you feel compelled to place a bet, but do not want to use an online casino because they will not allow you to withdraw what you win, then you can use ‘locked in games’. These are essentially slot machines where the betting action is fixed and cannot be varied by the player. If you are willing to wager a small amount on a locked in game, you will always have the opportunity to increase your wagering if you win. The key points to keep in mind though are that you are not getting the best possible odds when playing a locked in game and they can be very frustrating to boot.
- Pro-Bets: If you like to bet on sports but do not want to commit to a team and are open to backing individual players, you can use pro-bets. These are group bets where several people get together to make a wager on one or more sports teams. The main advantage of using pro-bets is that they give you the option of wagering on a team you are fond of – or a team you think will do better than expected. If you are correct, you will get your money back with some additional winnings. The key points to keep in mind though are that you are not actually getting any better odds than you would betting against one person and that the activity is not anonymous which means it is probably better kept hidden from the tax man.
Once you have decided which of the above methods you will use to place your bets, you need to consider how you will collect them. You can use the following to do this:
- Live Betting: If you want to place a bet but do not want to use an online casino because they do not allow you to withdraw what you win, you can use live betting. With this method, you will physically go to a betting shop and place your wagers there. The advantage of this is that you do not have to worry about withdrawal issues because you can go back and retrieve what you win when the event is over. The disadvantage is that you will need to find a comfortable and appropriate place to sit and wait for the results of your wagers. If you are not used to long periods of inactivity you might suffer from boredom sickness.
- Phone Betting: If you like to place a bet but do not have the time to go to a physical bookmaker’s then you can use your phone. You will need to download a betting app to your phone, log in with your details and make your wagers. You will receive a text notification when the event is over and you can then retrieve your winnings. The advantage of this is that you do not have to find a physical location to bet in, you can bet anytime and anywhere that you have reception. The disadvantage is that you will need reliable and fast Internet access to place decent sized wagers and you might struggle to keep a consistent pace if you are playing for high stakes.
- In-Play Betting: If you want to place a bet but do not want to use an online casino because they do not allow you to withdraw what you win, you can use in-play betting. With this method, you will watch sports events live on your phone’s screen as they are happening. You will need to have a steady Internet connection to do this, but the advantage is that you can place very small and quick bets on in-play events and they will still register. The disadvantage is that the action is not always clear and you do not get the chance to study the odds as you watch the game.
Now that you have an idea of how to use rollover in betting, it’s time to find out how profitable it can be. Using the data provided by Betalytics, an independent firm that specialises in gaming and sports betting analysis, we were able to determine how often rollover occurs and how much money it can be worth. First, it’s important to understand what is and what is not included in these figures. As a general rule, all winnings and losses are included in this analysis. The key variables that affect the frequency of rollover and consequently how much money it can be worth are: