Bookmakers have surely become a part of our life- a number of people who would like to try their fortune without relying on blind chances but due to their knowledge of sports and intuition is becoming greater and greater.
Are you a new gambler? Then, before you start gambling, you should thoroughly learn the rules and terms of a sportsbook you would like to bet at. The gamble odds reflect event outcome expectancy. Odds can change with the course of time but the bookmaker makes payouts by the odds you fixed at the gambling time.
Sportsbooks offer their odds in traditional, American and decimal formats. Equiprobable event (without the margin) is given in decimal format with the odds of 2.0 (the payout is calculated by multiplying the bet by the odds), in traditional format with the odds of 1 (even odds) and in American format with the odds of 100 (how much you need to bet to win 100). Our gamblers got used to the decimal odds they are well familiar with.
Every bookmaker has its own payout rules for the case when the event didn’t take place.
So, if the event is cancelled most sportsbooks make payouts with the odds of 1.0 that is they make a refund.
You can also get a refund if there is an evident mistake in odds calculations. That is a very tricky moment as inexperienced gamblers often lose their money in such a situation as they bet by false odds hoping to get a payout simultaneously trumping another result. I would no way advice you to do like that. But everyone makes his or her own choice and it often happens when bookmakers make their payouts by bets with obviously false odds as well.
General Rules are similar for different bookmakers but there is a different approach to some kinds of sports like baseball, hockey , tennis, etc. So, in baseball when a game lasts for less than 9 innings the bookmakers can consider the game played on the basis of the first 4.5 or first 5 innings results. A starting pitcher is often substituted in baseball, so, the odds calculation rules are different for different bookmakers in this case. The Rules differ a lot for tennis betting if one of the players was hurt and refused to continue the game. Different bookmakers can calculate both the betting refund and announce the player who was qualified for the next tour the winner. Both one service played through and completed set can be the necessary condition for betting calculation.
There are discrepancies in bookmakers’ rules as for the game time (overtimes or penalty shootouts) in basketball and hockey.
You should pay attention to the handicap calculation rules as well. Thus, our bookmakers calculate the winner’s bet with the handicap of- 1 if the game finishes with the result of 1-0 with the odds of 1 (betting refund), and most foreign bookmakers this betting will result in loss.
The examples given make just a part of situations you can come across when betting with different bookmakers.
So, you should keep in mind one main rule for you: you should start betting at the bookmaker’s with thorough studying its terms and Rules.