If you are an experienced punter you already know that the bet slip is an integral part of your everyday betting experience. It is a fundamental aspect of placing football bets online, so it is of particular importance to perfectly understand the way it works and thus be able to get the most out of it.
At the dawn of sports betting, the only form of a bet slip was a piece of paper that had to be filled in when placing a bet at a land-based bookmaker. Its purpose was to function as a receipt for the bets placed. If they were successful, punters would return the bet slip for the teller to calculate how much winnings must be paid out. Nowadays, online betting platforms are on a constant rise and the bet slip is already present in an electronic form. In addition to recording the details of your bets, it automatically computes the eventual payout from a successful wager.
Bet Slip Explained
No matter if you use your desktop computer or your preferred mobile device to place football bets online, you can always find the bet slip on the right side of your screen. The exact features may slightly differ from one online bookie to another but in general, the wagering procedure is quite universal.
On the top of the bet slip, you can see the type of bets you are allowed to make. These are usually referred to as Single or Multi but there may be separate buttons for Parlay, Reverse, If Bet, Teaser, etc. To place a bet you must add at least one selection to the bet slip and usually there is no maximum limit on the number of wagers. Adding a selection couldn’t be more simple, just click or tap on the chosen betting market and it will automatically show up.
Carefully look at your bet slip and you will notice how much information it actually provides. Depending on the interface, the number of selected bets is shown either on the top or the bottom of the bet slip. If you decide that you have picked too many events, just click on the “delete” icon next to each selection. The other option you have is to remove all selections through the “Remove All” or “Delete All” button.
After you are done with picking out the events to bet on, add the amount you wish to wager. If there aren’t enough funds in your account balance, the bet slip will prompt you to make a deposit and then continue with your bet. If you have chosen to make a multi bet, some bookies allow for entering a separate amount for each event while others have added the option to indicate one joint stake.
Below all selected markets, you will see three types of information – total odds, wagered amount, and potential winnings. If everything in your bet slip is OK, all you have to do is press the Confirm Bet button. You may come upon this button being called Submit, Bet Now, Place a Bet, etc.
One of the most convenient features of this online sportsbook element is that it notifies you each time odds drop or rise or if any of the selected events has ended before you have confirmed your bet.
How The Bet Slip Calculculates Your Profits
Punters do not have to worry about the math work since their bet slip acts as an online calculator having different settings depending on the type of bet placed. If you prefer placing single bets, you should know that your eventual winnings are calculated by multiplying your bet by the respective odds. For example, you want to back Aston Villa to win over Watford in the next Premier League match:
- Odds: 1.59 x Stake: €10
- Winnings: €15.90
- Profit: €15.90 – €10 = €5.90
If single bets are not challenging enough for you or you aim at gaining higher profits you may try making predictions through a combined bet. To place this type of wager you have to click on several events thus adding them to the bet slip and then indicate the relevant bet category. Here, the amount that can be possibly won is much higher since the odds will be multiplied. It is not as complicated as it sounds, you will see this if you look at the following example. Let’s assume that in addition to the above-mentioned event, you also decide to bet on the outcome of the matches Fulham vs Huddersfield Town (odds of 7.6 for Huddersfield) and Hull City vs Barnsley (odds of 3.3 for a draw).
- Odds: 1.59 x 7.6 x 3.3 Stake: €10
- Winnings: €398.77
- Profit: €15.90 – €10 = €388.77
It doesn’t look bad at all, does it? Such a lucrative profit is only possible with the high-risk accumulators. Remember, even if only one of your predictions is not successful, you lose your stake. Over time, another type of bet, the system, gained great popularity among online punters. Due to their nature, they carry a lower degree of risk, but at the same time, the possible profits are not that high.
Again, we’ll look at an example to show you how bet slips work in relation to system bets. Matches and odds remain the same as in the accumulator bets case above. Provided you have chosen the 2 out 3 system and wager €10 on three combinations, your initial stake will be multiplied by 3, i.e. €10 x 3 = €30. Bet 1 is Win Aston Villa – odds of 1.59, Bet 2 is Win Huddersfield Town – odds of 7.6, and Bet 3 is Draw Hull City vs Barnsley – odds of 3.3.
- If Bet 1 and Bet 2 are correct, but Bet 3 isn’t, calculation is as follows: €10 x 1.59 x 7.6 = 120.84;
- If Bet 1 and Bet 3 are correct, but Bet 2 isn’t, calculation is as follows: €10 x 1.59 x 3.3 = 52.47;
- If Bet 2 and Bet 3 are correct, but Bet 1 isn’t, calculation is as follows: €10 x 7.6 x 3.3 = 250.80.
Having read the above information, you are already familiar with everything you need to know about the elements of the bet slip and how it works. We have compiled a shortlist of tips to further contribute to a pleasant, safe, and profitable football betting experience.
- Give a priority to the likelihood of success over the profitability of the bet itself;
- Double-check the selections you have added to your bet slip. Thus you avoid inaccuracy due to odds being read incorrectly or mistakenly selected betting market;
- Even if you have wagered via a certain betting site for a long time, always compare the odds it provides with those of other reputable bookmakers;
- If you are not just a recreational punter but plan to stay for the long run, you better determine a separate fund for betting purposes that is in no way related to the resources you need to cover your daily needs.