How to place bets

betting basicsIf you’ve never placed a bet and can’t make head or tail of how to do this online, look no further. Here we provide a step-by-step explanation.

To place a single bet on a bookmaker’s site, you simply click the odds offered on the outcome you want to bet on. Doing this will open a betting slip, usually on the right side of the screen. The betting slip will include:

  • options for choosing your selection (the outcome you want to bet on)
  • the odds for each selection
  • space for entering the stake, which is the amount of money you want to bet on your selection
  • depending on the market you are betting on, you may also be given the option to place an each-way bet.

If you don’t see the right names or numbers on the betting slip or have made a mistake, don’t panic. There’s usually a link that will let you clear the slip and start again. Once you’re satisfied that you’ve completed the betting slip correctly, you click a button to submit your bet. Once you click to place the bet, you may be asked to confirm your bet. Provided you have enough funds in your account, the bet will then be placed. If you have insufficient funds, you’ll be asked to place a smaller bet or to deposit funds in your account.

After placing a bet

Once you’ve placed a bet, you need to wait for the event to produce a result. You might have to wait months to find out the result of a football league tournament, or just minutes if you’re betting on that day’s horseracing. Generally it’s a good idea to clear your betting slip once your bet has been made, if it isn’t cleared automatically. Usually a button or checkbox lets you do this. If you don’t clear the betting slip before you place another bet, both your original bet and the new bet will be processed with your second bet. This means you may end up placing your first bet twice!

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Tracking your bets

To keep track of your bets, simply click the link to your account and then navigate to the History or Account Summary section. If an event you bet on hasn’t yet concluded, you’ll find your bet under the open bets section. If the event has concluded and you want to see how much your bet paid out, you can choose to view all bets. This will show you whether your bet won or lost, along with the relevant odds and, if the bet won, the amount paid out.

Important things to remember

Once a bet is placed, it can’t be reversed. No amount of pleading or complaining will cause the bookmaker to reverse the bet. This means it’s extremely important to check your betting slip before you place a bet. Ensure that you’ve made the correct selection and have bet the correct amount.

Another thing to keep in mind is that the different odds formats used in betting markets can be confusing. For example, it’s vital to understand the differences between fractional odds and decimal odds.

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Related Articles

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  • A simple, clear guide to using online betting slips to place your sports bets.