A Beginner's Guide To Online Betting

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Beginners Guide to Online Betting

While bookmakers still retain a highly visible presence on the nation’s high streets - despite many of them shutting up shop in recent years - the behaviour of the modern-day punter points away from retail or telephone betting to an online future.


What is online betting?

Online betting is a general term for gambling over the internet rather than over the counter at a betting shop or by telephone.

From its humble beginnings in the mid-1990s, online gambling has grown massively and now accounts for a third of all betting and gaming in the UK, according to data recently released from the UK Gambling Commission (UKGC).

Between April 2015 and March 2016, online gaming and high street betting operators generated a gross gambling yield of £4.5 billion - £1.2 billion more than high street betting and even eclipsing the National Lottery.

By contrast, the number of betting shops (March 2016) fell to 8,809 from 8,975 the previous year, according to figures released by the gambling commission. The number of amusement arcades and bingo halls has also fallen as the online revolution takes hold.


How to get started

Online betting involves placing a bet over the internet – using a device such as a mobile phone, tablet or PC – rather than physically handing over your selections and stake money to a betting shop employee.

There are many different accounts on the market so take a good look around before opening an account. To be able to do so, you need to be over 18 and have an active bank account. A nominal deposit is normally required too, as well as basic security information such as a username and password.

If you’re a total novice to gambling, most websites have informative research sections to point you in the right direction.

Once you’re up and running, any profits made from settled bets will appear in your account and can usually be withdrawn at any time.


Why bet online

Even the most mundane of sporting events can be transformed into a cauldron of drama, simply through the click of a mouse or the swipe of the screen.

  • Flexibility: No need to rely on betting shop or call centre opening hours, online betting is a 24-7 operation, available at your fingertips.
  • More scope: A number of markets are exclusive to internet punters, meaning a wider range of betting opportunities are available.
  • Better odds: On average, the online odds are better than on those on the high street. Better odds means a better return when you win.
  • Freebies: Online betting operators tend to offer special bonuses, money back guarantees for certain losing bets and a whole host of other inducements
  • Easy-to-use: Leading bookmakers often have their website and apps designed by third-party operators who specialise in making website navigation as user-friendly as possible, meaning you don’t have to be too IT savvy to find your way around.
  • Safety: Most betting sites are run by reputable, well-known businesses and have robust security systems in place to guard against fraud.

Tips for online betting:

“Stay focused, Stay disciplined, enjoy it, and don’t get suckered into promotions that benefit the bookie (such as cash out). But, more importantly, it's real money you're playing with, set yourself a set amount you would be willing to lose. After a while seeing a number in the top right hand side of the screen can start to become a little bit of a fantasy and a game, but it's real money you're playing with, don't get carried away; ask yourself if you would actually go into a bookie and put that much on a bet before placing it.”

- Scott, Director, Tipsters Review


How to spot a top tipster

How to Spot a top tipster

Honesty is the best policy when it comes to betting and tipsters. You need a tipster who is honest and has a proven profit/loss that is clear and can be easily accessed before you put any money into it. A good tipster will give you a ‘try before you buy’ kind of situation. You should always check their profit/loss statistics too and always check the most recent stats over a period of around 6 months. The more recent the statistics are, the more likely the tipster is honest and trustworthy. Before making a concrete decision you should check the ‘Return on Investment (ROI) percentage to give you a general indication as to how much money you have to invest in order to achieve the same profit level.A tipster might have huge claims of making thousands of pounds profit, but that might be on the basis that you have to invest £500 per day - which comes with much more risk.

Of course, be sure to check their online credibility using Tipsters Review. We pride ourselves on having real punters share their thoughts on services they have used, by doing your research you can find the right tipster for you personally.


Why Should You Use a Tipster?

If you’d like to improve your profits when betting, it’s a good idea to seek the help and advice from a tipster.

  • Most Tipsters specialise in a particular niche so try and find a Tipster who specialises in the type of betting you’re doing. This will mean they’re more likely to be clued up and know everything about a particular sport.
  • Most Tipsters are actually under pressure to support their win ratios. This means that they will not want to give tips just for the sake of giving them. This can cause dissatisfaction to the punter who wants to have a few bets every day.
  • Using a Tipster will help to increase your own knowledge of trading and betting; as a beginner, this can be an invaluable learning process.
  • Some Tipsters will email you a full analysis and breakdown of the trades they suggest, this can also be helpful if you’re just starting out and makes the service easier to digest.

Tips/advice for betting safely from Scott, Director at Tipsters Review

You should only ever bet what you can afford to lose. You should always bet to win, but with a set budget in mind to keep you on track as losses are inevitable with any form of gambling. Betting should be fun too, so it’s wise to stop if betting stops being fun or starts to dictate your lifestyle.

Betting is far from a get ‘get rich quick’ scheme and it should never be treated like one. One of the most common and dangerous downfalls is the punters that those that chase their losses. It can quickly get out of hand when you are trying to win back the money you have previously lost, you will lose discipline and place bets you wouldn't normally place. This is why it is so important to have a set betting bank of money you can actually afford to lose. There’s actually only a small percentage of people who make money consistently from bookmakers and those who do will be extremely focused and disciplined especially when it comes to handling losing runs.


Why should you choose a Tipster’s Review tipster?

Tipster’s Review has over 2500 honest reviews from real people, so it’s easy to find the Tipster who’s perfect for you. People like being able to scope out what a product or service is like before they make a purchase and that’s why reviews are so popular, especially in betting. The views of punters who have been there and done it are invaluable, and really make the site dependable and transparent.

Tipster’s Review also has the “live 7-day tipster trials”, which has become increasingly popular since the launch in August 2016. A live 7 day trial is conducted every week on a specific service. This allows members to sample the life of a full member without paying.


Betting Types

A Brief Summary of Betting Types

To the uninitiated, sports betting terminology can sound like complete gobbledygook. Differentiating between a Canadian and a Yankee isn’t always easy for us Brits in real life let alone in the betting world, so hopefully this brief beginner's’ guide will help put you on the right path.

As horse racing and football dominate the sports betting industry in terms of revenue share, we’re going to concentrate on the ‘King of Sports’ and ‘the Working Man’s Game,’ as both, despite their different sobriquets, share quite a lot of commonality in gambling terms.

Accumulator

No Saturday afternoon is complete without an accumulator bet, also known as an ‘Acca’. This is one bet involving multiple selections where all of them must win to get a pay-out. Picture the scene: It’s 4.50pm and five of your six football results have come up trumps and you stand to win a fortune if Liverpool can come from behind and snatch a draw at Manchester United. All looks lost until, with seconds remaining, they get a penalty and score. Get in!

Obviously, it only takes one bit of a bad luck for an Acca to crash and burn. So, if you’re not overly confident about all your selections winning and an Acca seems too risky, you can hedge your bets and go for one of the following multiple options:

Doubles/Trebles

You might want to celebrate with one or two of these if a bet comes in. A Double is an accumulator of two selections, and a Treble is of three selections. After that, they are just known as a ‘Four-Fold Accumulator’, ‘Five-Fold Accumulator’, etc.

Trixie

Not as hard as the name sounds. A Trixie consists of four bets involving three selections in different events. The bet includes three doubles and one treble. A minimum of two of your selections must be successful to get a return

Patent

A bet invented with fun in mind. A Patent consists of seven bets involving three selections in different events. The bet includes a single on each selection, plus three doubles and one treble. Just one successful selection guarantees a return.

Yankee

Think big. A Yankee consists of 11 bets involving four selections in different events. The bet includes six doubles, four trebles, and an accumulator. A minimum of two of your selections must be successful to get a return.

Canadian

Not to be outdone, a Canadian (also known as a Super Yankee) consists of 26 bets involving five selections in different events. The bet includes 10 doubles, 10 trebles, five four-folds plus an accumulator. A minimum of two of your selections must be successful to get a return.

Lucky 31/63

Fortune favours the brave in this instance. A Lucky 31 consists of 31 bets involving five selections in different events. The bets include five singles, 10 doubles, 10 trebles, five four-folds and a five-fold accumulator. If only one selection wins, returns are paid to four times the odds. If four of the selections win, a bonus of 15% is added to total returns. If all five selections win, a bonus of 25% is added to total returns. For the bonus to apply, all selections must win. As the name implies, a Lucky 63 consists of 63 bets.

Heinz/Super Heinz

You’ll be full of beans if this one comes up. A Heinz consists of 57 bets involving six selections in different events. The bet includes 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator. A minimum of two of your selections must be successful to get a return. A super Heinz is 120 bets.

Goliath

The big daddy of bets. A Goliath consists of 247 bets involving eight selections in different events. The bet includes 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, eight seven-folds and an eight-fold accumulator. A minimum of two of your selections must be successful to get a return.

Forecast

How about a bit of blue sky thinking with a good forecast? A straight forecast involves two selections finishing first and second in the correct order. A reverse forecast means they can be placed either way around for the bet to be successful. A tricast is when three selections are made.


A Brief Glossary of Betting Terms

A Brief Glossary of Betting Terms

Ante-Post: It is possible to place some bets weeks, months and sometimes years in advance. For example, when you bet on the UEFA Champions League or the Cheltenham Cup winner. Such bets are called 'ante post'-bets.

Bar:

50-1 bar, for example, means those not quoted in the list of odds are 50-1 or bigger.

Banker:

A selection that is fancied very, very strongly indeed. It will often be the cornerstone of combination bets.

Correct Score:

Correct score betting is popular with football, where the total number of typical scores/goals is on the low side.

Each-way:

Pay twice your stake but have the comfort of knowing the bet can still be a winner if your selection is ‘placed’ i.e. second or third

Form:

Form rates how a team or a horse is currently performing

Handicap:

A system used by bookmakers to make a one-sided event become a more attractive betting proposition to the punter. For example, the weaker team in a football match may start with a one goal advantage.

Lay:

When a bookmaker accepts bets it is often said that they lay a bet.

Nap:

A tipster's best bet of the day – not the chance to catch up on some sleep.

Odds On/Against:

Refers to a price where the odds are less than evens or higher than evens

On the Nose:

Backing a horse to win

Outsider/Long shot:

A team/runner not fancied to win

Punter:

The individual who puts on a bet.

Starting price:

A horse-racing term that applies to the odds on a horse at the time a race starts. If you take the ‘SP’, that’s the odds you’ll get once the race finishes.

Wager:

A bet


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