Online betting in a nutshell, is all about trying to guess certain outcomes of an event. Only you’re putting money on that ‘guess’, and depending on whether you guessed correctly or not you get your money back plus some winnings, but if you lose you get nothing back and that’s what makes it so exciting! The most popular form of online betting is sports betting, in which players place bets on the outcome of certain sports matches or even on which player to score next.
The amount of your winnings is determined by what we call betting odds, which is basically the likelihood of your bet coming true. So if your guess or bet is very likely to happen and the betting odds are high then the percentage of your winnings is going to be low. On the other hand, if the probability of your bet coming true is very low and the odds are high, then your winnings could be grand. Betting odds can be displayed in a variety of ways and we will go through the most commonly used ones below.
New Zealand are playing Australia in rugby and New Zealand are of course the favourites whereas Australia are the underdogs. The American odds are shown below:
New Zealand: -500
So in this case you will need to bet $500 on New Zealand to win, in order to win $100. On the other hand if Australia wins you will get $700 if you bet $100.
Decimal odds are more commonly used here in New Zealand and are slightly more straightforward and easy to understand. Decimal odds are essentially showing you your total payout for every $1 wagered. So all you have to do to calculate your total payout on a given bet is multiply the amount of your bet by the decimal number shown.
Fractional odds are usually more common in the UK and they are presented as a fraction. For example, if an event has betting odds of 7/1 (seven-to-one) that means that you would win $7 for every $1 wagered, if your bet comes true of course.
As mentioned above the most common type of betting odds you’ll see here in New Zealand is the decimal odds, but we wanted to equip you with knowledge of other betting odds you may encounter in your sports betting journey, just in case.
The number of bets and the types of bets you can place are virtually limitless but here we will give you a brief rundown of the most popular bet types you can place to get you started.
The most simple bet type is the single bet, and this is where the player bets on the outcome of a single event. For example, betting on your favourite football team to win an upcoming match.
If you’re more of a thrill hunter, an accumulator bet might be more your speed. This type of bet is multiple bets accumulated into one single bet and offers much better odds than if the player were to place every bet as a single bet. However, the increased risk is that as soon as one of your bets within the accumulator bet loses, then the whole bet is lost in its entirety.
A system bet is very much like an accumulated bet but contains less risk as not all bets need to be winning ones for you to win. If for example, you place a 3/5 system bet then only three out of the total 5 bets need to be successful in order for you to win. However, if all five are successful, the winnings are of course even bigger.
These are the most common types of bets that you can expect to find, and they are all available in our top of the line sports betting portal, so make sure to study the odds and place your bets.
Another form of sports betting which has become increasingly popular over the last few years is live or in-play betting. This type of betting is for the thrill seekers out there or the more dedicated sports fans. Live betting as the name suggests allows the player to bet on certain events whilst the game is taking place LIVE. For instance if there’s a penalty kick in a football match you’re watching live, this feature allows you to bet on whether the player scores or not, presenting you with the opportunity for a plethora of betting possibilities.
There’s no shortage of sports on our sports betting platform. Whether you prefer the top sports such as rugby or cricket, or perhaps more niche sporting events such as esports. We offer both Rugby League and Rugby Union, as well as cricket, football, tennis and basketball. If it involves some form of competition you can rest assured that you can find it on LeoVegas Sport.
A betting market is a specific type or category of bet on a particular event. This means that the betting markets may vary from one sport to another, but there are a few that stand out in terms of popularity and these are listed below.
Match Results, is the final outcome of a match or game. In most cases this usually translates to win, lose or draw.
Totals, this market is great for those who do not like picking sides as it allows you to predict the total number of goals for example.
Match Specials, these usually vary depending on the sport but some common ones include, both teams to score or time of first goal.
Outright bets are bets that include the winner of the overall competition and these bets can get placed before the tournament even begins.
As mentioned briefly above these are the most popular betting markets but we have many more and these vary depending on the sport and competition. Have a look for yourself!
Getting started is very straightforward, simply follow the below steps:
Sign up and register to create your account
Make your deposit into your account
Choose a match and event to place your desired bet on
Wait for the outcome and get ready to withdraw your winnings
It’s really that easy!
LeoVegas prides itself on being at the forefront of innovation, especially when it comes to mobile gaming. Making your sports betting easy, quick and reliable is at the top of our priority list, which is why we have developed our slick LeoVegas App, available on Play Store and App Store. Making your sports betting easily accessible and giving you the greatest gaming experience at the palm of your hand.
Placing free bets is not available at the moment therefore all sports bets need to be placed with real money.