Syndicate betting is a relatively new form of online betting which was created by a company called Amadeus. The company originally launched its product in Europe, but it has recently gained a lot of popularity in other parts of the world as well – particularly in Australia and the UK.
The concept behind syndicate betting is incredibly simple. You may have heard of “group betting” where a number of people pool their funds together to make a single wager. With syndicate betting, that same concept has been applied to betting. Instead of getting together with a group of friends to make a wager, you can set up a syndicate with a group of online traders to do the same. The only difference is that with syndicate betting, you’re doing this virtually – through the use of online chats and tools like Skype.
You can set up a syndicate with almost anyone. All you need is an email address and a Skype account.
You’ll then be presented with a group of traders who you can initiate a chat with. When you’re ready to place a bet, all you have to do is tell the trader(s) who you’re working with and the amount you want to bet. The exchange of money between you and the trader(s) will be handled by an independent party, called an “escrow service”. The entire process is completely risk-free and legal – provided you’re not acting in an illegal manner, of course!
Amadeus’ website boasts that their product is both simple and highly effective, which makes sense given the aforementioned simplicity of the concept behind syndicate betting. Furthermore, the website goes on to say that if you’re looking for a quick and easy way to make good money, then syndicate betting might be the right option for you. As a result of its popularity in certain countries and regions, Amadeus has even created a “fan base” on social media websites like Twitter where people can get together to discuss betting, share tips, and check updates on tournaments and matches.
How Is Syndicate Betting Different From Traditional Online Betting?
The big difference between syndicate betting and traditional online betting is that with the former, you’re not actually placing a bet with an individual trader. Instead, you’re forming a group with a number of traders and getting them to work together to place a bet on your behalf. In other words, rather than going it alone, like most people do when they go online to place a wager, you’re leveraging the power of the group.
This is a pretty powerful dynamic, and it can result in significant advantages for you as a bettor. For example, using a tool called MyBookie, we can compare the odds of different outcomes for a specific tennis match depending on whether we bet alone or in a syndicate.
Let’s take a look at how the odds might change if we go into a syndicate versus betting individually:
The Odds Of Winning
Based on the publicly available odds, we can see that the match between Novak Djokovic and Rafael Nadal at the Australian Open is a perfect example of why you might want to consider getting into a syndicate. The game is widely considered to be one of the “Grand Slams” – a series of four competitions which feature the very best tennis players in the world. This particular bout is seen as the culmination of the tennis season – with both players having seemingly locked away a spot in the upcoming FIFA World Cup.
The odds are heavily in favor of Nadal, with the Spanish sportsbook, Paddy Power, currently listing him as a 4/9 (.278) favorite to win the match. For reference, the same website lists Djokovic as a 6/1 (.600) favorite. In other words, if you want to take a chance on Nadal winning the match, you’re better off doing so in a syndicate rather than going it alone.
On the other hand, if you want to put your money on Djokovic, you’re better off going it alone – at least, according to the odds which are publicly available at this time.
More Money For Your Bets
One significant advantage which a syndicate brings to the table is that it lets you place larger bets than you would be able to individually. The reason for this is simply that the more people you have working with, the bigger the pot of money which you’re borrowing to play with. For example, if you put $100 on a tennis match which has a $10,000 purse, you’ll only need to manage your risk exposure (i.e., the amount you’re willing to lose) up to $1,000. So, in effect, you’ll be using the $9,000 pot of money to place a bet of up to $20,000 (plus your $100 initial investment).
This is important because it means you’re potentially leaving bigger winnings on the table. Consider the above example. If you’re in a syndicate betting $100 on a $10,000 game, but one of your fellow group members is willing to risk $1,000 on the same game, you’re going to be able to pool your resources together and make a winning bet of $11,000. (Note: this is assuming you both win – which is certainly possible.)
In addition to being able to place larger bets, you also stand to gain from using a syndicate. For example, if you want to bet $100 on a $10,000 game and one of your fellow group members is a VIP (i.e., a “very important person”) at the betting destination you choose, then there’s a good chance they’re going to give you special treatment and award you some extra betting credits to help you make the right choice. (Note: this is completely at the discretion of the betting destination.)
Based on the above, it should come as no surprise that many people are enjoying the benefits of syndicate betting. The popularity of the product is evident by its presence on social media websites like Twitter, where users have used the hashtag #syndicatebetting to show their support for the concept.
To get in on the action, all you need to do is create a free account with one of the many websites which offer this type of betting. Then, simply follow the instructions which are provided to you and get started making money!