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Amazing
Insider Secrets
from Internet Millionaires
CHECKOUT
THE ONLINE WEALTH HANDBOOKS
Make Money from Online
Betting - Beat the Bookies…Online!
Betting, on sporting
and similar events, has been going on for
centuries. But for most people it has always been a very small scale
activity based around the daily paper and the local
‘bookies’.
Unless
you were lucky enough to be a professional punter, spending all
day poring over information, carefully constructing bets and travelling
far and wide, it was virtually impossible to make serious money. And
chances are you would mostly lose . as millions of punters can testify.
But the
Internet has transformed the world of betting.
Thanks to the
Internet and organisations such as Betfair, it is now possible to bet
easily and simply right around the world – without leaving home.
It has made it much easier to get the information you need to bet
profitability.
It has opened up new ways to bet. And it has also forced
the betting industry to become more open and more competitive, swinging
the balance in favour of the customer.
Most
experts agree that the Internet has single-handedly levelled the
playing field and turned it from an activity where only the specialists
can make money to one where the ordinary punter can now realistically
aim to turn a profit.
In
general terms you bet online – on horses, sports fixtures, or
whatever else you fancy – in much the same way as you bet
offline, at your local bookmaker’s shop or at the course or
ground.
But let' look at how to make the best use of
the Internet to bet, the main types of betting that are most suitable
for betting online – together with some techniques and strategies
which could help you turn a profit when you ‘bet on the
net’.
Before
you start betting on the Internet it is important to bear in
mind that the industry has changed in other ways too.
Once upon a time
the industry was essentially a domestic industry and heavily regulated.
The Internet has turned it into a global industry, and one which exists
in an atmosphere of regulatory uncertainty and even prohibition.
Many
bookmakers are located in so-called offshore locations to avoid taxes,
gaming laws and to increase efficiency.
For the Internet punter this
has removed many regulatory controls and access to official governing
bodies and arbitration services in case of disputes.
In some cases
Internet bookmakers are trading in something of a ‘grey
area’. For example, sports betting and bookmaking is largely
illegal in the USA and some other countries.
So when you bet on the
Internet it is important to be aware of the drawbacks – which I
will tell you about here – as well as the opportunities.
Getting Started Easily and Simply
Finding and Choosing Internet
Bookmakers
There are hundreds of Internet or online bookmakers and more are
opening up all the time.
Some of the main ones are listed at the bottom of this page, and you
can find lots more using a simple Internet search.
When choosing an online bookmaker exercise the same caution that you
would when gaming – see the page.
Online
bookmakers are regulated by the gambling rules of the country in
which the business or the server is located.
This may be an offshore
location where there may be little or no regulation. Check their
website for details.
Good Internet bookmakers will tell you where they
are based, what rules they operate under and belong to an arbitration
service which can help resolve disputes. (Nine out of ten UK bookmakers
belong to the Independent Betting Arbitration Service or IBAS.)
Your
best protection to get good service and fair dealing is to bet
with a well known and respected name.
Most of the UK bookmakers also
have an Internet division. Remember, in cases where the odds are the
same (although they aren’t always) there’s nothing to be
gained from betting with an unknown rather than a known name.
Lastly,
always study the terms, conditions and event rules for both the
individual bookmaker and the individual event or sport you wish to bet
on.
In today’s global betting environment individual bookmakers
can and do have their own unique rules, even for the same event or
sport.
Opening an account
To start out in Internet betting you will need to open accounts with
online bookmakers.
Some of today’s effective betting techniques
and strategies require you to have accounts with as many bookmakers as
possible – in some cases at least 25!
Aim to
open most of your accounts with bookmakers where you do not need to deposit
money simply to open an account.
Good Tip: Look for
bookmakers that
accept Switch/Maestro or other debit cards.
With these, wagers are
simply debited from your card as you place them so you do not need to
deposit a lump sum with each bookmaker.
Most bookmakers also allow you
to deposit funds with credit cards, cheques, money transfers and online
payment services but you will usually need to deposit funds before you
bet.
Although this is often as little as £10 this isn’t
always convenient and may encourage you to place bets you
shouldn’t.
With
most online bookmakers your winnings are credited to your account
and can then be withdrawn by having them credited back to your
credit/debit card.
However, some credit cards will not accept refunds
and some bookmakers only allow you to make withdrawals by cheque or
money transfer.
Betting Tax: The big advantage of
betting online is that you
don’t usually have to pay any betting tax on either your stake or
your winnings since Internet bookmakers tend to locate where there are
no betting taxes.
(UK sites offer tax free betting in any case.)
However, always check a new site you are considering using to ensure it
is not located somewhere where betting tax applies.
Check
for charges, deductions and commissions which are made by some
bookmakers (for example for withdrawing winnings or using credit
cards).
Excessive charges have the same affect as betting tax and make
some kinds of betting (eg. arbitraging, see later) uncompetitive.
Taking Advantage of
Incentives
As with Internet casinos, many Internet bookmakers offer incentives to
persuade you to start betting with them.
Incentives in Internet betting
aren’t generally as generous as in Internet casinos. They are
likely to take the form of a ‘free bet’ of
£10-£25, but most often are in the form of a ‘match
bonus’ where you have to bet the same amount.
Take advantage of
any incentives that are offered where possible, but check the terms and
conditions attached to them and ensure that the odds or bet are still
good value.
Incentives offered are changing
all the time so you need to keep up to
date with each site to see what is currently being offered.
Some
incentives are only offered if you sign up through a betting directory
or portal site, such as ‘My Betting’ which can also tell
you about the latest free bets.
Note that some Internet
bookmakers also accept transactions by
telephone but may offer different incentives (or very often none) for
telephone bets, so always check.
Some bookmakers may also charge a
commission only on telephone bets.
Odds: What You Must Know
Since the Internet
allows you to access information and bookmaking
sites from right around the world you’ll find that different
parts of the world express odds in different ways.
In the UK odds are
mainly quoted as fractions, in Europe as decimals and in the USA odds
are often quoted as positive or negative index numbers.
Whenever you’re working
with different types of figures or
expressing them as a percentage (necessary for certain kinds of
betting, such as arbitrage) it’s essential to convert them
accurately so that you are comparing like with like.
Some websites
perform conversions for you, but a basic conversion table appears below.
Odds
Conversion Chart
UK
4/6
8/11
4/5
5/6
9/10
10/11
1/1
11/10
6/5
5/4
13/10
27/20
11/8
7/5
6/4
13/8
17/10
7/4
15/8
2/1
11/5
9/4
23/10
12/5
5/2
13/5
27/10
11/4
3/1
10/3
7/2
4/1
9/2
5/1
11/2
6/1
13/2
7/1
15/2
8/1
9/1
10/1
12/1
14/1
16/1
18/1
20/1
22/1
25/1
28/1
33/1
40/1
50/1
66/1
80/1
100/1
150/1
200/1 |
Europe
1.67
1.73
1.80
1.83
1.90
1.91
2.0
2.10
2.20
2.25
2.30
2.35
2.37
2.40
2.50
2.62
2.70
2.75
2.87
3.0
3.20
3.25
330
340
3.5
3.6
3.7
3.75
4.0
4.33
4.50
5.0
5.5
6.0
6.50
7.0
7.5
8.0
8.5
9.0
10.0
11.0
13.0
15.0
17.0
19.0
21.0
23.0
26.0
29.0
34.0
41.0
51.0
67.0
81.0
101.0
151.0
201.0 |
US
-150
-137
-125
-120
-111
-110
100
110
120
125
130
135
137
140
150
162
170
175
187
200
220
225
230
240
250
260
270
275
300
333
350
400
450
500
550
600
650
700
750
800
900
1000
1200
1400
1600
1800
2000
2200
2500
2800
3300
4000
5000
6600
8000
10000
15000
20000 |
What Events Should I Bet On?
In general terms, you can bet on almost anything you want to bet on!
Internet bookmakers are not slow to open a book wherever they think
they can attract business. Here are just some of the main areas where
they offer you a chance to bet online:
Horse Racing,
Football, UK, European and World
Golf
Tennis
Cricket
Rugby Union, League
Greyhound Racing
Motor Sports
Snooker
Darts
Boxing
Other Sports, eg. American
football, baseball, basketball, GAA Gaelic
football, ice hockey.
Financial Markets
Politics, especially results of
elections.
Novelty Events; These include TV, eg. winners of programmes like
‘Big Brother’ or ‘Pop Idol’ and whether it will
be a ‘white Christmas’ or the ‘Christmas No.1’
in the music charts.
Important:
Different events are more suitable for some types of betting
and some types of betting technique than others. Be sure to read the
rest of this page before you make your final choices.
Useful Winning Strategies for
Internet Gambling
First and foremost remember that few ordinary punters ever beat the
bookmaker and earn consistent big wins by chance or by outright skill.
In order to gain an edge over the bookmaker you need a strategy, and to
use proven techniques that achieve this purpose.
Provided you learn how
to gain and maintain this edge and keep to a sensible strategy or
system betting can offer steady, realistic long term profits.
Most experts agree that to
succeed you need to think more analytically
about your betting strategy, about the markets you bet in, about the
type of bets you make, about betting value and numerical approaches to
finding it, about ways of gaining a head start, money management and
control of risk.
The good news is that the Internet has made all this
easier than ever before.
Here are some strategies which
you should find effective:
Always Use a Bank; Without a
proven record of long term success, any punter should avoid
moving into the ‘danger zone’ by betting more than they can
afford to lose.
The most sensible approach to safeguard against this is
to set aside a ‘bank’ or sum of money for the purposes of
betting. This can be any amount, large or small. But it should always
be money that you can afford to lose.
Be a Risk Avoider; Generally,
punters are either risk seekers or risk avoiders. This
determines both your overall and individual betting strategies.
Risk
seekers back high odds and large multiples and prefer to chase lost
capital by increasing the stakes after each losing bet. However, this
will not guarantee profits while increasing the chances of failure
considerably.
This is why most punters do
better by being risk avoiders. A good way
to do this is to use a simple staking plan.
Experts put forward many
staking plans but even a simple staking plan such as wagering just a
small, fixed proportion of your bank, then doubling on a win and
halving on a loss will preserve your bank with the aim of winning more
than you lose long term.
Know Your Subject
There are literally thousands of sports betting opportunities on offer.
In almost every case the bookmaker is banking on the average
punter’s lack of in-depth knowledge of the subject in order to
stack the odds against them.
To improve your chances of overcoming this
disadvantage concentrate on one or perhaps two key sporting markets.
Fortunately the Internet has totally transformed the availability of
information so that the determined punter can be as, or even, better
informed than the bookmaker.
Whatever your subject area, build up your
own ‘favourite’s list’ of reliable Internet sites for
statistics, information, facts and figures on it.
Smaller, less popular markets (like darts, volleyball,
cycling, skiing
or minor athletics) can offer great potential for a skilled web surfer.
In these cases the bookmakers will often know less about the events
than a regular follower of such sports.
They may only have one or two
odds compilers studying them compared to hundreds for horse racing or
football.
So it can be easier for you to get an edge here (although the
type of bet and value must also be right).
Know the Best Bets
There are all sorts of wagers available nowadays – from match
bets to ante post, scorecast to handicaps. In many ways, the Internet
has made this more complicated by widening up the availability of
different and unusual bets.
In general terms it is sensible to focus on types of bets
where the
bookmaker has limited their overround or profit margin.
These include
bets where the number of possible outcomes is a minimum, ie. two.
This
includes Asian handicap betting in football, many American sports
wagers and two-way betting in other areas.
The disadvantage the punter
will face is lower, both because the bookmakers can afford it to be so,
and because there is less room for them to manoeuvre behind less
generous prices.
Bet Singles …. Most of
the Time
Bookmakers have always discouraged single bets (where the punter needs
only to back the outcome of one event) since they are easier for the
punter to win and so less profitable for them.
Since the explosion of
Internet betting this has changed – to the advantage of the
punter. Nevertheless, ordinary punters used to the
‘glamour’ of bigger payouts (and it has to be said greed)
from multiples and perms still place these unfavourable bets.
Experienced and highly
skilled experts can enhance profits with
multiple bets, but the risks in seeking them, through larger overrounds
and lower strike rates, will always be greater.
Singles on their own
can offer the majority of punters more wins, fewer losses and
reasonable if smaller returns.
Bet for Value Rather Than
Betting to Win
While it is true that winning bets are the only ones that make money,
without winning more often than the bookmaker has priced you to do, the
losers will ensure that your betting bank will stay in the red.
So,
always identify and measure value in odds through a comparison of
bookmakers’ prices and both quantitative and qualitative
forecasting techniques.
The Internet now offers all kinds of
comparison, statistical and analysis sites which allow you to do this
more easily than ever before.
One way to look at it is
this: Find value and the winners will take
care of themselves!
Favour Favourites or Short Prices
Although this strategy isn’t accepted by all experts, certain
betting opportunities have a favourite-long shot bias.
(This is
particularly the case in football fixed odds betting.) This is due to
the risk-averse philosophy of most bookmakers who would sooner
overprice an odds-on selection than expose themselves to excessive risk
by offering value in the long shot.
Betting on only short
prices will not be enough on its own to secure a
betting edge, but for those who choose to do so, the effective
‘average disadvantage’ is significantly smaller to begin
with.
Shorter prices also mean that you will win more often and expose
your bank to less risk if betting level stakes.
However, don’t back
a favourite just because it is a favourite.
Back it because you think if offers good value, or because you think
the bookmaker has made a mistake.
Always Shop Around
This should go without saying, but is often overlooked! If one
bookmaker offers 1/1 whilst another offers 6/5, it would make little
sense to take the less generous price. However, due to laziness many
ordinary punters still do!
This is one area where
the Internet has turned the tables squarely in
favour of the punter who is willing to put in the effort.
Firstly, the
market is so much more competitive with so many more bookmakers quoting
odds, and you can easily open accounts with as many as you like from
the comfort of home.
Secondly, it is easy to find the best odds using
comparison or quoting sites (see Appendix).
Betting exchanges (see
later) are also good in this respect because
they offer better odds.
Remember, however, do not
simply bet because a particular bookmaker
offers the highest price. Make sure the odds offer good value.
Keep and
Use Good Records
Always keep accurate records of your bets including the selections
backed and their prices, the amounts wagered, and the profits/losses.
This will help you to analyse your strengths and weaknesses, to assess
your profitability and, long term, show you how to gain and maintain an
edge.
Analyse and Keep to Your System
Whatever system you have for choosing, have a system and
keep to it!
Some people prefer to use form statistics to help them predict the
outcome.
Others prefer to be subjective, by reading up on each event,
and making betting judgements on the basis of information about
injuries, motivation, conditions etc.
Then again, others prefer to use
a betting system (of their own or which they found on the Internet or
read about).
Whichever method you use stick to the same method for a
while and then
take a long, hard look at whether it has worked and how.
If it
hasn’t, change to something else. If it has, try to find out why
and how you can refine your methods. But never use a mixture of
methods, or keep changing them without reason.
Always be critical of
whatever methods you use.
Winning is wonderful,
especially when you believe that your skill has helped you outbet the
bookie. But don’t become too egotistical!
Ask whether your wins
could have happened simply by chance. If this is the case you cannot
rely entirely on your methods!
Even where you have established a
successful method beware of chance factors that may be contributing to
your success.
Understand
Losing!
Every punter will lose, but successful ones know how to learn from that
loss.
Having the patience to outlast poor runs and the strength to
resist chasing the losses is the hardest part of gambling. Succeed
here, and your chances of avoiding outright failure are greatly
improved.
Simply staying in the game is half the battle won. Remember:
If you aren’t in it, you can’t win it, regardless of any
ability you have.
However, be selective and don’t bet because you
have to, but only when you feel you have the edge.
Many successful experts
think of it this way: By not betting, you will
always break even!
Now, we
will consider some of the more
popular betting opportunities and explain how you can use the Internet
to make betting on them easier, simpler and, hopefully, more lucrative.
Internet Horse Race Betting Revealed
Horse racing betting is perhaps the largest and most sophisticated
betting market in the world. It is also the one area where the Internet
has transformed the betting market most of all.
The Internet has
allowed even the small punter to easily monitor the entire worldwide
market, compare and find the best odds and compare and find
information.
It has also played a major part in making tax free betting
a reality. And, of course, it is much more convenient than visiting a
traditional betting shop, and certainly a race course.
Another attractive aspect
of Internet horse race betting is that it
works in exactly the same way as conventional horse race betting, so
you need no extra skills to make a success of it.
To place a bet online
you simply choose your race, and type of bet. Then select the horse you
wish to place your bet on. A virtual betting slip will then appear
complete with all your details and you simply need to click to place
your bet.
Internet
bookmaking sites offer masses of information on placing bets,
most of which is reliable. However, here are a few overall strategies
which are favoured by successful Internet punters:
•
Just because horse race betting is the largest
betting market does not necessarily mean it is the easiest …. at
least for the punter. Remember that the bookmakers have massive
resources to use against you, and the market is also so developed that
it is relatively complex in terms of finding and choosing the best
bets. To succeed, you’ll need good information and to simplify
your betting as much as possible.
•
Most successful punters operate on hard facts
and figures, not 3rd rate tipping services or rumour. Many gamblers
make a good living using information supplied by high-priced and proven
tipping services. These tipsters have their tips audited by a totally
independent body called the Racing Information Database.
•
Most successful punters favour choosing and
using a system in order to simplify and manage the process. Use a small
bank and stick with your system for a while to see what happens. There
are literally thousands of systems available – try a search on
the Internet – some of which are free some of which quite
expensive.
• Betting
exchanges such as Betfair offer good
value in horse race betting. For this reason, some experts now only bet
on betting exchanges. The added advantage of betting exchanges is that
they allow you to bet on a horse to lose, which is easier for the
non-expert.
• Horse race
betting doesn’t offer good
potential for arbitraging (see later).
• Some bookmakers offer
‘virtual horse
racing’, where fictitious horses race on their own fictitious
course and the result is decided by random means. As long as they are
operated by a reputable bookmaking site there is no reason why the odds
of winning should not be attractive. However, most experts regard these
as more akin to a casino game than a sports betting event.
Internet Football Betting Revealed
Football is a particularly exciting game to wager on with many
different bet options and a wide range of leagues and teams. However,
it is easy to fall into the trap of betting on your own favourite UK
team and let sentiment take over from logic – the bookies love
this type of betting. If you’re a keen fan of a UK team it can be
a good idea to look at some other leagues. All around the world, but
mainly Europe and South America, countries have professional leagues
and bookmakers will readily accept bets on most of them. The Internet
means that it is almost as easy to obtain information on Italy’s
Serie A or Korea’s K-League as on Premiership teams. Tournaments
(of which the World Cup is the ultimate but not the only one) also
offer potential.
The most popular types of football betting, although different
bookmakers might call them by different names, are match betting,
outright wagers, group wagers, and propositions.
Match Betting
Match betting on football varies from many other types of betting as
there are three potential outcomes that can be wagered on, which are
essentially: favourite to win, underdog to win, and draw. Because so
many games end in a draw, wagering on the draw is a significant betting
option. Here’s an example from the World Cup when Saui Arabia
played Cameroon:
Saudi Arabia 7/2
Cameroon 4/6
Draw 9/4
Remember that all leagues have different rules on tie games and how, or
if, they are further decided so it is especially important to be aware
of the specific league rules when making match wagers. Odds are
typically for 90 minutes of play only. This means that the bets are
settled at the end of the second half, including any injury time. Even
if the game is further decided by extra time or penalty kicks, in
competitions where this is used to determine the outcome, the result
after 90 minutes of play is the score used when tabulating winning and
losing wagers. Some bookmakers do take wagers on which team is the
ultimate winner (includes extra time and penalty kicks) but it is a
much less common bet and the odds usually hold less value, especially
for the inexperienced.
Outright Betting
Players who want to bet on the outright winner of a competition or
league can place bets at fixed odds in the futures format. This type of
bet also has a variation commonly known as betting each way. For
example:
France 9/2
Argentina 5/1
Italy 6/1
In this case, punters who wager on Argentina at these odds would be
paid £5 for every £1 they bet (of course the £1 stake
is also returned for a total collection of £6).
Bear in mind that betting each way is actually two bets. One is on the
selected team to come in first or second place, exactly like a place
bet in horse racing, and the other is on the same team to win the
competition outright. An example of a £100 each way bet is the
easiest way to explain the principle. Using the odds from above on
Italy (6/1 to win) here are the possible outcomes of an each way bet:
• Both wagers lose if Italy does not make it to
the final game
• If Italy makes it to the final game but loses,
the first £100 bet pays off at half of the odds of the ‘to
win’ bet (3-1), for a collection of £300 (£300
winnings plus the £100 stake minus the £100 to win wager).
• If Italy makes it to the final and wins, both
£100 bets pay off. So £400 would be collected on the place
wager and £700 (£600 winnings at 6-1 plus £100
stake), would be collected on the to win wager, for a total profit of
£900 off a £200 wager.
Group Wagering
This is a form of football betting suitable for a competition that
involves group stages, such as the World Cup or Champions League. For
example, each group has four teams that play each other in a
mini-league format to determine which teams will advance into the
subsequent, or knockout, round. Betting on the winner of each group is
a very popular bet and often these can be combined for higher payouts.
The betting format is identical to that of future wagering. Here is an
example:
Group C
Spain 1/4
Turkey 4/1
China 25/1
Uruguay 10/1
Proposition Wagering
Proposition wagering is a form of betting that is not based on the
outright winner of a match. Bets include predicting the exact score,
which team will score first, which players will score, when, and
over/under type bets. Additionally, bets for an entire competition
might include which player wins the ‘golden boot’, i.e. is
the top goal scorer or how many red cards are given out.
What is particularly interesting to note about these bets is that they
often have widely varying odds at different bookmakers and so you can
often get incredible value by shopping around on the Internet.
What Is Asian Handicap Betting? Asian handicap betting is used to
eliminate the possibility of neither party winning the event, e.g. it
eliminated the draw in a game such as football. With Asian handicap the
perceived underdog is given a head start of a handicap, and the
favourite will be handicapped by the same handicap. The predetermined
number of the handicap will be added to the real number of points or
goals and make up the right bet.
For example:
Match Home
Handicap Away
Liverpool v Aston Villa 1.90
0:1/2 1.95
This simply means Aston Villa has a 1/2 ball advantage when the match
starts. If you bet on Liverpool you will win your bet if Liverpool win
the match, otherwise you will lose. If you bet on Aston Villa you will
win your bet if the game ends on a draw or Aston Villa win the game.
The HANDICAP takes the form of a number of 'balls' (or goals) to be
subtracted from the favourite's score before determining who wins.
Consider this simple example: Liverpool at home give 1½ balls to
Charlton:
home odds
handicap odds away
Liverpool
1.98
0:1½
2.05 Charlton
In this example, we add 1½ onto Charlton's final score, and see
if Liverpool still wins. Hence, Liverpool must win by 2 goals or
more to beat the HANDICAP (& you get odds of $1.98 if you backed
them) - ANY other result and Charlton wins (& you get odds of $2.05
if you backed them).
It gets complicated by the fact that Handicaps can be set in ¼
balls. If a team ends up winning (or loosing) by a ¼ ball,
then you only win (or loose) 50% of what you would upon an outright
result.
(Note some Bookies will display a 1¼ Handicap as "1 &
1½" - indicating that half your stake is placed at a handicap of
1 and the other half of your stake is placed at 1½.)
Internet Golf Betting Revealed
Betting on professional golf events is an increasingly popular way to
bet, and the most usual type of bet is on a major international
tournament such as ‘The Masters’. There is a wide variety
of bet types available. Some last through the entire tournament, others
are based on daily action, and propositions are available on the major
events. Here are some examples to illustrate the possibilities based on
The Masters:
Betting To Win
This is a simple future wager on which golfer will win the event. In
the case where a golfer withdraws before they tee off on the first hole
wagers are refunded. Any withdrawal after that time would result in a
losing wager. Look at this fictitious example to get an idea of how the
odds will look:
P. Mickelson 14/5
E. Els
11/1
David Duval 15/1
K.J. Choi 18/1
Field (all others) 7/2
The odds are displayed with the favourite at the top and usually end
with a ‘field’ bet. For example, P. Mickleson is given odds
of 14/5. What this means is that for every five pounds you bet, you
will win fifteen (plus your stake returned of course).
Betting the field is betting on any player who is not listed with
individual odds. Generally there will be up to 50 players with their
own odds and all the rest are included under the
‘field’. During an event like The Masters, however,
bookmakers might offer odds on every single player and those who were
originally in the field will have very high odds. If you want to bet on
a specific ‘dark horse’ or up-and-coming golfer it is
better to shop around to find a bookmaker who offers individual odds.
If that golfer wins the difference could be 7-2 on the field, or 350-1
when betting on the individual!
Another twist on betting to win in golf betting is the opportunity to
bet that any given golfer will win any one of the four major events.
This gives you four different events in which the bet could potentially
pay off and is an interesting way to make a season-long wager.
Match-Up Betting
An interesting way to wager on golf is using head-to-head match-ups
created by the bookie that may or may not have anything to do with the
actual golfer groupings in the event. For example, using US style odds:
Round 1
P. Mickelson (-145)
E. Els (+115)
This is a plain moneyline bet on which player will have the best score
at the end of the first round. Mickelson is the favourite and every
£14.50 wagered on him would win £10 while every £10
wagered on Els would win £11.50. If they are tied the wager is a
push and all bets are returned.
There may be more than one match-up for the same player in any given
round, especially during the major tournaments. Mickelson might be
paired against the next five players during the first and second round
and each match-up would have adjusted odds. Other match-up bets
sometimes have three or four players. Always be sure to shop around
with this type of bet because match-ups and their odds vary widely from
bookmaker to bookmaker and with a little surfing, great middle
opportunities can sometimes be found.
Golf ‘Props’
Proposition betting on golf is usually restricted to the major events
but it is becoming more and more common. Propositions on longest drive,
closest to pin and fewest putts are only a few of the many betting
opportunities offered. The Internet has even made possible live
proposition bets during the event on a hole-to-hole basis. This kind of
wagering is fast moving and can be very rewarding if you know your
subject.
Betting On Novelty Events Revealed
If you are not interested in Internet betting on sporting events then
you may wish to bet on what the betting industry refers to as
‘novelty events’. For example, you can bet on whether you
think it will snow on Christmas Day, or who will win the next
Eurovision Song Contest! Many of these events are events which you
could never bet on in the pre-Internet days. The Internet has made it
possible by opening up markets of sufficient size to make it viable and
profitable.
Here is a list of just some of the novelty events you can choose to bet
on:
• US Presidential Elections
• UK General Elections
• The X Factor
• Olympic Hosts
• Next James Bond
• BBC Sports Personality of the Year
• White Christmas
• Christmas Number One Record
• Brit Awards
• Miss World
• Big Brother
• Eurovision Song Content
• FHM High Street Honeys
• Oscars
• Golden Globe
• Pop Idol
• I’m A Celebrity
• Mercury Music Prize
• Weather/Temperature
• Booker Prize
• Nobel Prize
Here are a few pointers to bear in mind about novelty betting on the
Internet:
• Do not be misled by the fun nature of novelty
betting. Bookmakers love to offer these bets because it detracts from
the serious nature of betting. However, you should take it as seriously
as any other event.
• Know your subject thoroughly. And if the
subject is obscure there is always an opportunity to understand it
better than the bookmakers and thus find incredible odds. Look for
areas based on subjective rather than objective information. (For
example, the weather might be difficult to predict but it is not an
obscure subject, as it is based on objective meteorological data.)
• Due to their nature (i.e. General Elections)
not all bets are offered continuously. In order to be able to
accumulate expertise and find attractive bets on a regular basis try to
specialise in an area rather than a type of bet, eg. politics not just
elections.
• There is often less competition in novelty
betting, so you must look harder to find value. For example, only 16 UK
bookmakers regularly offer novelty bets. Don’t forget exchange
betting (see later).
• Novelty betting is generally more risky, so
you may want to use a smaller bank.
• Odds in novelty betting are generally wider,
so there can be better potential for arbitraging (see later).
• Check the rules relating to novelty bets with
all the individual bookmakers you intend to use. Rules for novelty
betting vary much more widely than other kinds of bets, and there may
be exclusions which prohibit or restrict certain ‘dead
cert.’ opportunities.
Spread Betting: What It Is and How It Works
Spread betting, also known as ‘index betting’, is a
comparatively new method of wagering on sports and other events.
Although spread betting has always been possible this is another case
of how the Internet has opened up more and better possibilities to
average punters.
The concept of spread betting is a simple and straightforward system
which rewards correct selections based upon how accurate they were
– but also penalises incorrect selections based upon how wrong
they were.
For example, assume you want to bet on a rugby match between fictitious
teams called the ‘Lions’ and the ‘Tigers’ where
the index is set on the total number of points scored by both teams
combined – in this example 46-49. What this means is that the
index maker believes that between 46 and 49 total points will be scored
in the game. In order to wager the player must decide if they want to
take a position below 46 or above 49. This means that if you believe
there will be more than 49 points scored you can ‘buy’ at
that number (e.g. £10 per point) and will win based on how many
points above the number the total ends at. On the other hand, if the
total falls below 49 you will lose according to how many points under
the number it is. The same holds true for gamblers who predict a low
scoring game and ‘sell’ at 46. These players will also be
rewarded or penalised based upon how good their scoring prediction is.
The amount won or lost on any spread bet is based upon the stake the
player makes when they take their position. If a person
‘buys’ over 49 at £10 per point they will be paid
£10 for every point over 49 in the game. Conversely, if the total
falls below 49 the player will have to pay £10 for every point
below 49. The same holds true for sellers who take the low side except
that they are paid for every point below 46 and lose for every point
above the number.
For example:
Index: Total Points in Game Lions/Tigers 46-49.
Wager: Buying at 49 (prediction of over 49) for £10.
Final game result: 42 points (7 less than the predicted over number).
Player’s Gain/Loss: Player loses £70 (7 x £10 =
£70).
On the other hand, a player who sold £10 at 46 would be a
£40 winner because the total was four less than the predicted
under number and 4 x £10 = £40.
It is important to note that wins and losses are highly variable in
spread betting and careful management is necessary in order to prevent
substantial losses. Internet betting makes it easy to use stop-loss
facilities, offered by most bookmakers, where a pre-set loss limit is
put into place. However, this is not always the case and due to the
nature of sports where anything can happen, it is very important to
only wager what you can afford to lose even in the worst case situation.
Arbitrage Betting: What It Is and How It Works
Arbitrage betting (also known as scalps, sure bets and risk free bets)
is something that has always been possible. However, the Internet
– together with the widespread availability of tax free betting
– has made it easier and accessible to almost everyone -
including those who don’t know much about betting and the event
in question, and those who aren’t particularly interested in the
principles of arbitrage!
A simple way to think of arbitrage is the bet that always wins!
Regardless of the outcome of the event you always win, because you can
never lose. However, what many people do not realise is that this is
because you are really not betting at all …. you’re
trading.
Arbitrage can best be explained by means of an example:
You decide to look for arbitrage opportunities (or ‘arbs.’
as they are known) in the forthcoming Utopia Open Tennis Tournament
Final featuring Aiden Arthur against Bobby Bolder. You check out the
bookmaker’s odds and then place two bets over the Internet, with
two bookmakers, as follows:
£500 on Aidan Arthur with bookmaker X at odds of 1/1.
£400 on Bobby Bolder with bookmaker Y at odds of 6/4.
The total amount you have bet is £900.
If Arthur wins you get £1,000 from bookmaker X (£500 win +
£500 stake returned).
If Bolder wins you get £1,000 from bookmaker Y (£600 win +
£400 stake returned).
So your profit, no matter who wins, is £100 (£1,000
winnings - £900 stake)!
Of course, this process has always been possible. But the Internet
allows you to compare odds from dozens (or even hundreds or thousands)
of bookmakers to find arbitrage opportunities. Then place a large
volume of bets and repeat the process on a regular basis so that small,
often tiny, but regular wins can all build up into a significant
profit. Today, there are also many PC programs (such as ArbCalculator)
which allow you to collect, store and calculate the information you
need to make spotting and managing your arbs. relatively
straightforward.
Arbitrage Made Simpler
From a practical point of view, arbitrage opportunities are easiest to
find where there are four or fewer possible outcomes. There is a huge
range of events, sporting and non-sporting, where you can take
advantage of this kind of scenario. Some of the best opportunities
arise in:
• Football
• Tennis
• Golf, especially competitions where players
are playing head-to-head such as in two ball and three ball
tournaments.
• Cricket, usually one-day competitions.
• Snooker
• Darts
• Boxing
• American Football
In the case of football, note that it can be hard to find arbs. in UK
football since so much money is involved that the bookmakers can afford
to put a lot of effort and money into ensuring these profit-taking
opportunities don’t occur too often. Non-UK football offers
better potential. Also note that some sports (especially American
football and rugby union) are often handicapped. Before considering
bets on these events it is important to take any handicap into account.
Horse race betting doesn’t have good potential for arbitrage,
mainly because there are so many outcomes (ie. potential winners) that
it makes it difficult to plan and manage your bets.
Arbitrage opportunities occur for a number of reasons. These include
differences of opinions between bookmakers or a bookmaker anticipates
taking on too much money for a player/team. These differences occur
both nationally and, more often, internationally, and the Internet
allows you to easily see where foreign bookmakers may be offering odds
that are ‘too generous’. Bookmakers do not forbid
arbitrage-based bets (since arbitragers lose money as well as win it)
and, in many cases, will never know what you are doing since only half
of your bet is with any one bookmaker.
These opportunities are practically infinite. On certain days you may
need to look a bit deeper than the popular arbitrage yielding sports
like football, tennis and golf. Other types of opportunities with good
potential for arbitraging include novelty events such as political
elections or Big Brother evictions and so on.
The key to arbitrage success lies in converting a bookmaker’s
odds into a percentage. If after adding up the percentages for each leg
of the event your total percentage is less than 100 (called an
‘under round’ book) you have found an arbitrage opportunity!
In the example above:
Odds of 1/1 are equivalent to a percentage of 50%.
Odds of 6/4 are equivalent to a percentage of 40%.
The total percentage is 90 (50 + 40). Therefore you have ‘landed
an arb.’, as it is called.
NB. The arbitrage percentage is 100 minus the total percentage. In our
example this is 10% (100-90). The greater this percentage, the larger
will be your profits for the same amount staked. However, you can still
turn a profit with a much smaller margin.
To have a good chance of succeeding in arbitrage most experts recommend
that you will need accounts with at least 25 Internet bookmakers. One
consequence of this is that your money may be spread more thinly than
otherwise, or you may need more money to invest. (But bear in mind that
in theory at least you should never lose your money as it is
essentially working capital or an investment and not a bet.)
You can start with any sum but tests have shown that if you have
approximately £300-£500 working capital you can expect to
generate a profit of £10 per week, £3,000-£5,000
working capital a profit of £100 per week and £7,000
working capital proportionately much more – £300+ a week or
£15,600 a year.
Arbitrage Risks and How To Minimise Them
Arbitraging involves several risk factors which do not occur in
conventional forms of betting. Here are the main ones and how to deal
with them:
• Prices move before you place all your bets:
Place your bets swiftly – Internet betting makes this possible.
Use a procedure for covering your exposure, to minimise any losses that
do occur because of this.
• The bookmaker realises they have made ‘a
mistake’ in their odds and voids a bet: Be slightly suspicious
when a price seems to be a glaring error rather than just a modest but
worthwhile difference. Bookmakers are entitled to do this, although
often do not.
• Bookmakers’ differing rules lead to a
loss: Bookmakers have different rules, especially relating to
‘unusual’ situations such as player withdrawals, or
deciding ties. Make sure you know each bookmaker’s terms and
conditions before you place an arbitrage-inspired bet with them.
• One bookmaker limits your stake, leaving your
arb. unbalanced and exposing you to loss: Know bookmakers’ likely
betting limits in advance and work within them. Use a procedure for
covering your exposure, to minimise any losses that do occur because of
this.
• You bet on the wrong team, player etc.
accidentally or miscalculate the odds!: Keep a careful record of the
arbs. you create – use a computer program if you need to. Double
check every bet you consider placing.
Further Information
The more you know about arbitrage the easier it becomes to spot and
calculate opportunities. There are many Internet sites offering further
information, some of which are listed at the end of this lesson.
Betting Exchanges: What They Are and How They Work
Betting exchanges are a type of betting opportunity which has been
opened up almost solely because of the Internet. You could always
‘exchange bet’ but in the pre-Internet days it was almost
impossible for the small-scale, home-based punter to do so effectively.
A betting exchange is a website on which an individual can either place
bets or accept bets on an event with another punter, not a bookmaker.
So, essentially, the customers themselves act as bookmakers. As well as
betting in the normal way you can offer bets at odds which you
determine and encourage others to take up your bet.
The main reason for using betting exchanges is that you will get better
odds than at the bookmakers. Despite commission payable on winnings,
typically 5%, the odds available with exchanges are frequently more
favourable since there is technically no overround to overcome.
Individuals such as yourself are prepared to give better odds. For
example, checks have shown that at one major betting exchange, Betfair,
odds are consistently around 20% better than a High Street bookmaker.
Exchange Betting Made Simpler
It is essential to use a reputable and reliable betting exchange. The
most well known online betting exchange is Betfair. The risk of using a
less reputable exchange, are that the bets may not be constructed
properly and you may lose your stake, winnings and deposited funds.
Betfair ‘ring fence’ all client deposits in a separate
company and refer all disputes to the Independent Betting Arbitration
Service (IBAS) in the UK.
One risk of using a betting exchange is that you could find yourself
betting against a person who is ‘in the know’ or who is
able to influence the result (to your detriment). For this reason, some
expert exchange betters avoid exchange betting in areas which have
acquired something of a reputation for insider dealing, such as horse
racing.
To get started with betting exchanges, you have to open an account at
websites that are offering this kind of betting. This works in much the
same way as operating an account with a conventional bookmaker. Betting
exchanges make their profit by levying a commission on the
winner’s winnings. For example, Betfair levy a 5% commission
which is one of the highest around, although it does reduce to 2% if
you use the exchange a lot. This percentage is much lower then a
regular bookmaker’s profit margin of at least 10% and, of course,
the odds are not compromised by the overround.
After opening an account at betting exchange websites, decide if you
would like to act as a bookmaker or as a ‘regular punter’.
Bear in mind that if you act as a regular punter, your risk is similar
to betting with a bookmaker, except that you can obtain much better
odds. However, if you choose to act as a bookmaker your risk is higher.
Betting exchanges operate around the basic terminology of buys (or
backs) and lays. When you back or buy you bet on an event for which
others have presented the odds. If the team/event you’ve backed
wins, you will win your stake multiplied by the odds that were offered
(minus commission). When you act as bookmaker, you will lay or offer
odds on some event that you choose, hoping that the team or event you
lay odds on will fail.
How To Buy
The best way to approach buying is when you have a firm belief on a
particular event but are not satisfied with available odds from
conventional bookmakers. Let’s say that on the regular market,
the best offer for a draw in an international football match between
Italy and France is 2.80. (Betting exchanges typically use decimal
odds.) You have checked betting exchanges and find odds of 2.90 which
you feel are good value. Then you should back a bet or buy a bet. The
procedure is the same as with Internet bookmakers. You click on your
event, place a bet, enter your stake and wait for the final result.
However, Internet exchanges offer a further interesting possibility. If
you are not satisfied with the odds currently on offer you can make a
back order. Let’s say that the available odds are not good enough
for you, and that you want to place a bet at odds of 3.10. Then you can
make a back order for 3.10 for your potential stake – £100
for example. Now you simply wait until someone else is ready to lay
£100 on a draw in this match at 3.10. When they do, your
individual bets (or orders) will match and your bet is placed. (If
someone lays £30 on 3.10 on this event then this £30 will
match with yours and the rest of your bet –£70 – will
be available for someone else to lay.)
How To Lay
The simplest way to approach laying is to look for an event (or person)
you believe will fail. Most people find that it is much easier,
psychologically as well as practically, to pick a horse to lose in a
race!
Using a football example, assume you are looking at the Premiership.
You feel that Liverpool will lose against Portsmouth next Saturday.
First, look at the available odds on the market for this game and then
create your own odds. Let’s say that you are ready to offer odds
at 1.50 for this match and that you are prepared to accept bets up to
£100 on this event. You lay your offer on the betting exchange
and wait for answers.
Since you are offering much better odds than regular bookmakers, you
will very probably find that someone accepts your offer and covers it
with £100. (Alternatively several punters may cover it with
smaller stakes, but cannot exceed your limit.)
All you have to do now is wait for the match to be played. If Liverpool
win, you will lose 1.50 x £100 from your account. If Liverpool
lose then you will win £100. (Note that the person who wins pays
the commission.)
With a betting exchange you can also change odds. If, for example, your
offer of 1.50 on Liverpool in this match did not attract any custom
then you might change your odds. You could consider, for example,
increasing your offer to 1.60, but only accept bets up to £80, in
order to limit your risk even though you are offering more tempting
odds. Also, if you see after a while that someone backed Liverpool at
1.65 with £20 you can increase your offer to 1.65. On most
betting exchanges you can also operate in in-running events. The
Internet makes this possible quickly and easily. You can, of course,
lose money but you can also make a lot.
Whether you have ‘bought’ or ‘laid’, at the
conclusion of the event the betting exchange site takes the result,
works out the winnings and credits the appropriate account.
Further Information
The more you know about exchange betting the easier it becomes to spot
opportunities and exchange bets. There are many Internet sites offering
further information, some of which are listed at the end of this
lesson.
Appendix of Websites: Lesson 4
Selected Internet Betting Sites
Here is a selection of some Internet bookmakers worldwide. This list is
for information only and these sites are not endorsed in any way.
Allsports
www.allsportsbetting.com
Bwin
www.bwin.com
Bet Direct
www.betdirect.net
Betmaker
www.betmaker.com
Bet365
www.bet365.com
Bluesquare
www.bluesq.com/bet
Centrebet
www.centrebet.com
Coral/Eurobet
www.eurobet.co.uk
Gamebookers
www.gamebookers.com
IASbet
www.iasbet.com
Intertops
www.intertops.com
Ladbrokes
www.ladbrokes.com
Olympic
www.thegreek.com
Paddy Power
www.paddypower.com
Skybet
www.skybet.com
Sporting Bet
www.sportingbet.com
Sporting Odds
www.sportingodds.com
Victor Chandler (VC Bet)
www.victorchandler.com
William Hill
www.williamhill.com
List of Current Incentives
Visit My Betting at www.mybetting.co.uk/free_bets.htm for a current
list of great incentives with numerous betting agents. A typical
incentive is that the betting agent will match your bet (up to a
certain amount) Most of these incentives are only available via the
link from My Betting, and not on the betting agents’ websites, so
it’s worth checking My Betting out.
Other Useful Websites
My Betting
www.mybetting.co.uk
Portal site and useful information.
Oddschecker
www.oddschecker.com
Odds comparison site.
Sports Betting Index
www.sportsbettingindex.com
Good for details of new Internet bookmakers as they set up.
Tip-Ex
www.tip-ex.com
Odds comparison site.
Zero-Risk Arbitrage
www.zero-risk-arbitrage.com
Information on arbitrage, services etc.
Betting Exchanges
Betdaq
www.betdaq.com
Betfair
www.betfair.com
Gamebookers
www.gamebookers.com
(Combination of exchange and conventional bookmaking.)
Intrade Prediction Markets
www.intrade.com
Please Note: Websites included in this appendix, or elsewhere within
the course, are all operational at the time of writing and I do aim to
check and update these listings on a regular basis. However, due to the
nature of the Internet and the way in which websites can appear and
disappear without notice it is always possible you may find some sites
which have been renamed, moved or removed.
WAIT
If you are serious about gambling on the net, I am currently reviewing
a new and apparently widely acclaimed system.
I have only just started reviewing it so I can't comment on it at the
moment, but the guy who has created this is a phd graduate and has many
testimonials saying how great this system is.
UPDATE
I signed up to the course and had to confirm my request to recieve
further emails.
I then waited about 10 mins for another email giving me instructions as
to how to set up an account with a major online betting company.
I was asked to reply to the email when I had set up and funded the
account.
To fund the account, I was given a phone number to ring and a promo
code which should have give me an extra 55% on what I deposited.
However I only wanted to deposit $50 (which was met with a disbelieving
"How much??"
I was told that this would not cover the bets and also that the 55%
bonus applies to deposits of $100 or more.
Under normal circumstances I would probably have upped the deposit, BUT
in the sales letter on the page for this product it specifically
mentions that you can get started for less than $100.
SO I have been pedantic and gone with the $50 and lost out on the added
55% just to see if this system is for the little guy as well as the big
hitters.
I then sent the reply email stating I had set up the account
and waited around 12 to 15 hours to get a reply.
The reply came with three pdf's for betting systems. two were the main
systems each claiming a 97% success rate, one was a bonus for american
football.
The two main ones were about baseball and basketball.
Now, I know about rugby, and I know about boxing, but I know absolutely
nothing about baseball, basketball or American football.
So The first thing I need to do is have a look over this course and try
to learn the basics.
I will let you know how I get on.
You
might want to have a look yourself, if you get
hold of it, let me
know how you get on.
If you sign up to the system and work it out before I post anything
else, let me know by emailing me (email address is at the bottom
of the home page - lifestyle publications)
If you have any comments about the system let me know and I will
publish them on this page
To check it out, Click Here!
Regards
Craig
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