When you place a bet, whether it’s on a horse, dog, or whatever else, you are actually making a wager with the bookmaker. The bookmaker is responsible for ensuring that your bet settles into a winner when the event comes to its conclusion. This is where the concept of rollover comes in. Let’s take a closer look.
The Concept Of Rollover
The principle of rollover states that your stake (minus any bonus offered) will be placed at risk if the event you wager on ends in a draw. A draw is where the odds are equal and there is no clear-cut winner in the event you’ve got your eye on. In this scenario, if the bet you made on a horse ends in a draw, the bookie will roll over your stake (minus any bonus offered) and refund you the amount of your original wager (usually in the form of cash or free plays in the case of online sportsbooks).
To give you an example, let’s say you wagered $100 on the favorite in a horse race. The favorite wins by a nose so your $100 wager is now $150. You also have a $20 bonus to play with. You have $180 on the line altogether. It’s safe to assume that you’ll want to keep betting on this particular horse.
Now, if that same horse wins by a mile, you will be happy you wagered on it because it brought in a $300 win for you. However, your original $100 wager is now worth $400, meaning you win $200 (the original $100 and the $20 bonus). The bookie will then give you $200 in winnings and fees back, resulting in a total return of $1,200 on your original $100 wager (assuming you’ve met the betting requirements and there are no exclusions).
Why Do Bookies Refund On Rollover?
The whole point of betting is to make money from the results of gambling events. When a bookie makes money from a wager, that’s what motivates them to make sure your bet settles into a winner as soon as possible so they can get their money and let you get your winnings too.
However, if your bet results in a draw, the bookie has no clear answer to give you. They don’t want to lose your money, but they also don’t want to give it back either since that means they won’t make any money off your wager. In these cases, the bookie will usually refund you the amount of your original wager (minus any bonuses).
The Risk And The Opportunity Of Rollover
The risk of rollover is pretty minimal because most bookies allow you to get your money back if the bet you made on ends in a draw. The risk becomes greater if you’re betting on an event that has a greater possibility of ending in a tie. However, even in these cases, if you meet the requirements (usually placed at 15-30 days), you will not lose any money.
Are There Any Limitations To Rollover?
There are always exceptions to the rules and one of the more unusual exceptions is when it comes to prop bets in poker. For those unfamiliar, a prop bet is where you put your money on a specific outcome of an event. If you’re playing virtual poker online or at a land-based casino and you put money on Who’ll be the best player at the next table? You’ll always be able to get your money back if the outcome is a tie, but what if your pick wins? In that case, you’ll have to decide quickly whether or not to stick with your pick since the house edge quickly adds up in these situations. Limitations like this make online virtual poker a little more exciting since there are more possibilities for losing money than simply winning or tying.
When Should You Use Rollover?
To prevent any misunderstandings, it’s important to note that rollover is usually used for smaller wagers (<$100) but it's also permissible to use it for larger wagers too. In fact, some sportsbooks allow you to use it for entire ticket purchases. This is why you should always check with your bookie before placing a larger wager. Otherwise, you may find yourself in a situation where you have to use it and then you're going to be upset that you had to use it in the first place.
For the most part, when a bettor uses rollover they’re either trying to avoid a large win or trying to make some extra money off a small win. In either case, they’re willing to take the risk in order to make some extra money. Naturally, this is why you should always look for the best deals when using online betting exchanges since this is where you’re going to spend most of your time when playing poker games.
How Do You Know If Your Rollover Has Been Activated?
When your wager is placed, the bookie will usually flag it as inactive and then they’ll activate it after the event ends. Inactive wagers won’t appear in your account until they’re activated. The same goes for winning wagers. Once you meet the payout requirements, the bookie will send you a notification letting you know that your wager has been paid out, but it will still appear inactive in your account until the notification is received. From this point on, you’ll be able to access your winnings and make further wagers as usual.
When this happens to me, I first check to see if I’ve won or lost. If I’ve won, I’ll usually grab my laptop and head to the sportsbook’s website to see if I can find out what my winnings are. If I’ve lost, I’ll just have to wait until the bookie has processed my bet and then I’ll know for certain what my return is going to be. Sometimes this can take some time, especially if there’s a lot of betting action since they have to verify all of the activity before they can calculate my return. Even then, it doesn’t hurt to ask.
What If You Agree To The Terms And Conditions And You Still Lose?
If you’re using online sportsbooks, it’s essential that you review their terms and conditions before doing anything else. This is a one-time event, but it’s also something you should do anytime you make a wager with a bookie, especially if you’re new to betting or playing poker. If you don’t agree to these terms and conditions, you’re not going to enjoy your wagering experience anyway, so it’s best to find a bookie which has a good reputation in your area.