When playing a game of chance, a bet maker is expected to predict the outcome of an event. In some cases this may be a genuine fifty percent chance situation, such as a coin toss. But in other cases the bet may be for horseracing or greyhound racing, where the odds of predicting the specific winner are extremely difficult.
How then, does a bet maker increase their chances of winning, or at least getting some money back?
One way is for the bet maker to do research, and gain deeper knowledge of the situation. After all, it can’t possibly be a fifty percent chance of winning if one football team, for example, is vastly better at playing then the other. Or, likewise, if a set of horses are different in age, stamina and average speed. Hence, being a well informed bet maker is a great way to turn the odds in ones favour. Another way of balancing out wins and loses it use a system known as spread betting.
Understanding Spread Betting
Instead of betting NZ on if one horse will win a race, a bet maker may predict if the horse will come second or third, or if a particular horse will lose. The payout will never be as good as a specific bet on the wining horse, but some payout is better then none at all, and a profit may still be possible, even if only a little. The trick is, of course, that winning payouts must cover the initial cost of the bets, and this can be a difficult thing to achieve.
Again, however, with experience, research and a bit of luck, a good bet maker can achieve profits on a fairly regular basis. Some even make their living with skilful spread betting, and this says a lot for how much can be achieved by understanding how odds work, and using a bit of common sense. Many, however, still approach bet making with a careless bravado, which is certainly not the correct way to make the most of gambling. Having gut feelings and favouring one bet over another for various esoteric reasons is all good and well, but nothing will beat a smart person with a good spread bet.
Spread Betting In Roulette
In roulette spread betting is essential for keeping ones bank account in the green. There is a very limited chance of guessing the exact pocket in which the ball will land, unless that bet may be repeated over and over, after which the statistics will always turn in favour of the bet maker. It may, however, be some time before a lucky number comes up, and in the meantime steps must be taken to avoid loses as much as possible. For example, a bet make may select a lucky number, say twenty, and place a bet on it. A bet may also be placed on black, and on the first twelve. The chances are that the twenty will not come up, but there is a reasonable chance the first twelve may come up, which should cover the other two bet. If the first twelve come up, and the black is landed, this should cover the bets, as well as giving an amount of profit. In this way, the bet maker can cover costs to some extent until the twenty comes up. This should be big win, and put the bet maker ahead.