When it comes to sports betting, there are some terms and phrases that you need to know. One such term is simulcast betting. What is simulcast betting, and how is it different from traditional or singlecast betting? Let’s take a closer look at each type of wager and how they work.
Simulcast Betting Explained
The odds of winning on a bet are always in your favor. However, the way that the payout is calculated can vary from one betting scheme to another. To make matters more complicated, the type of bet you place and the odds that you are offered can change from parlay to parlay, depending on the sportsbook you visit.
In a nutshell, traditional or singlecast betting means that you are placing one wager per team. For instance, if you want to bet on the New York Yankees to win the World Series, you would place a wager on them to win the division, and then another wager on them to win the Series. It’s the same concept, just applied to multiple teams instead of just one. The payout for each team is calculated based on the odds of winning, not all the teams combined.
On the other hand, simulcast betting means that you are placing one bet per event. For example, you could bet on the New York Yankees to win the World Series, but instead of picking them to win the division, you are backing them to win the League Championship. In this case, your wager will be split into as many parts as there are teams in the league, resulting in a payout based on the odds of winning all the individual events, instead of just one big event.
The advantage of this type of betting is that you can’t lose on an individual team wager. However, if you are betting the entire season, you could end up losing the money you put on each individual game. This, of course, depends on the vigorish (term used for betting fees in most U.S. states) that you are being charged by the bookmaker.
Types of Simulcast Betting
There are two types of simulcast betting: over/under and moneyline. The first one means that you are placing a wager on the total number of points that will be scored in an event, with the UNDER option representing the total points scored being less than the OVER option. For example, you could bet $100 that the Chicago Bulls will score at least 20 points in a game, but you would not be able to bet $110 that the score will be less than 20 points.
The second one means that you are selecting the winner of an event based on a pre-established point amount. For instance, you could bet $100 that the Golden State Warriors will have a final score of at least 110 points, but you wouldn’t want to bet the same amount on them to have a score of 105 points or less.
The odds of winning on an over/under or moneyline wager will be the same as with a traditional or singlecast bet. However, the payout will be different. When you win an over/under or moneyline bet, you will win the entire amount staked, plus the return of your original investment. The amount wagered is returned to the player, even if the team or player doesn’t win the bet. For example, say you put $100 on the San Francisco 49ers to win the Super Bowl. If they win the game, you will get your $100 back, as well as an additional $100 that you won due to the bet’s over/under stipulation.
On the other hand, if the San Francisco 49ers do not win the Super Bowl, you will lose your original $100 investment, plus the $100 that you won based on the over/under stipulation.
When Should You Use Simulcast Betting?
If you want to place a wager on a team that you believe will win the entire season, you should go with traditional or singlecast betting. On the other hand, if you need a punt on a game, you could use simulcast betting, as you can’t lose on an individual team wager. The main drawback is that you have to wait until the end of the game to see if your wager paid off or not.
In conclusion, traditional or singlecast betting is when you want to bet on just one team. However, if you need to back several teams at once, or if you want to make shorter wagers, you should use simulcast betting. For example, if you need to bet on the Cleveland Browns to win the NFL and you want to bet $100 on them, you would enter “Cleveland Browns +$100” as the bet amount, with “Win” selected as the outcome.