Is it possible to earn money in pari-mutuel betting?
What is football pari-mutuel betting and how realistic is it to earn money using that type of bet? This is the question asked by many newcomers. Pari-mutuel betting is a kind of gambling by nature. Although you can earn good money, there is always a chance for you to lose.
Pari-mutuel betting is a kind of bet made between a better and a bookmaker. An office develops a list of several matches and a better’s task is to predict each of their outcomes. The sum of return is calculated based on the number of correct predictions made.
The scheme of the pari-mutuel betting is as follows:
- About a week before the beginning of matches a pari-mutuel betting office publishes on its website the list of events which is called a draw. In average, each draw contains about 15 events.
- A better predicts one out of three outcomes (winning of team 1, a draw or winning of team 2) for each of the proposed events. In some cases a better should predict the exact outcome of a match.
- Afterwards they indicate the sum of a bet and the deal is confirmed.
What influences the win
It goes without saying that the sum of winning depends on the number of exact predictions. However, the beginners should also remember that there is always a threshold to overcome to win the bet and to gain money. As a rule only those betters who made 9 out of 15 correct predictions and more can gain money.
Also the following factors influence on winning:
- The sum of a bet made;
- The amount of a pool (i.e. the total sum of all the betters wagers);
- The total number of betters;
- The number of winning betters;
- The bookmaker’s margin.
How to make a bet in the pari-mutuel
It may initially seem that earning money in the pari-mutuel is rather complicated. It is related to the fact that bookmakers include matches from different national championships into a draw and some of them are unknown to the majority of betters. Hence, you need to analyze the proposed matches and to evaluate opportunities of teams before making a bet in the pari-mutuel betting.
Guidance for the betters
- You need to study the rules before making a bet. The rules may vary depending on the betting office.
- We do not recommend to make a bet long before the actual beginning of a match as the situation in the team may change. For instance, a key player can be injured.
- Matches with clear favorites’ participation are rarely included into a draw. Hence, before making a bet you need to analyze strong and weak points of both teams.
- Once a bet is made you can recheck the wager made to avoid making mistakes.
How to earn money in the pari-mutuel
The minimal amount of a bet is 20 Russian roubles and at the same time a better, correctly predicted all the 15 outcomes, can win several million roubles. The betters with 9 to 14 correct predictions also gain their return which can amount in 500 to 50,000 roubles. The higher a bet is the more a better earns in case of winning. Each better determines the value of a bet themselves however, it is not recommended to put a huge sum of money at risk as there is always likelihood of losing it.
To win in the pari-mutuel betting you should be attentive and good at analyzing sport events skillfully predicting their outcome. At the same time, personal finance management should be used to determine the optimal amount of money to bet. Usage of these principles allows to increase chances to win and not to lose a great deal of money in case of failure.