How online betting works
On the surface, online betting may seem complicated, but we assure you that online betting is actually very simple once you get started!
This is how online betting works:
Online betting enables you to bet on the outcome of different events.
By placing a stake and predicting the correct outcome of an event you will win money. If you get it wrong, you will lose your stake.
Please note: Betting online can be risky
If you lose a bet, your entire betting stake will be lost.
Therefore, you should only wager with money you can afford to lose.
When done correctly, online betting can be an entertaining and profitable endeavor!
Online betting is for those of us who are passionate about sports and enjoy betting on our favorite team and feeling the rush of excitement as they fight for victory.
Online betting is also for people who can employ an analytical mind and research their way to the correct outcome in order to earn money and make profits.
So whether you’re a hobby player with a passion for sports or an analytical mind with the hope of becoming a pro, online betting is for you!
How to do online betting
Best sites for online betting
List of online betting sites in India
An online betting site such as Betway will display different betting options that players can bet on.
Each betting option represents a certain outcome, usually in a sporting event, but you can also bet on political events, weather and more.
An example of how the online betting odds are displayed for the IPL on Betway
Let’s take an example: Mumbai Indians is playing Royal Challengers Bangalore in the Indian Premier League.
Although the 2 teams are very evenly matched, your favorite team is Mumbai Indians so you decide to place a bet worth Rs. 1,000 on a victory for Mumbai Indians.
This is an example of a bet that you as a player can place on an online betting site.
By placing this bet, you’re putting your money on the outcome that Mumbai Indians will win the match.
On the other hand, the betting site is hoping that Mumbai Indians will either lose or draw.
When you’re online betting, you’re basically playing against the betting site. If you win the bet, the betting site will pay you money. If you lose, you pay money to the betting site.
Online betting odds allow you to calculate your profit if your bet is successful.
Let’s say the odds of a win for Mumbai Indians is 1.80.
So the odds are calculated as follows: Your stake (1,000) multiplied by the odds (1.80) equals 1,800.
So by betting Rs. 1,000 you got back 1,800 and made a net profit of Rs. 800.
Online betting options
Aside from the simple and common outright win bets, there are dozens of other betting options that you can place.
The betting options vary depending on the sport you’re betting on: in cricket betting, you can bet on first ball of the match, total number of runs, number of wickets, run outs, sixes, player performance and much more.
In other sports such as football betting, you can bet on the number of goals, corners, penalties, exact score, man of the match and much more.
If you want, you can even create combination bets where you mix and include any number of betting options.
Of course, making combination bets can be risky because the chances of getting it right aren’t high.
But on the other hand, the odds go up substantially when you make combo bets, so in some cases, it may be worth it!
How do online betting sites make money?
Online betting sites make money when people lose their bets.
As such, online betting sites rely on the majority of players to lose money rather than win money.
If everyone was winning money, the online betting site would quickly go out of business.
Although there is a small minority of players who actually know how to make money with online betting regularly and consistently, the majority of players lose money over the long term. That’s just a fact.
They may have small wins every now and then which gives them a boost in confidence, but most players are not profitable over the long run.
Is it possible to make money online betting?
Yes, like we mentioned above there are players who manage to make money consistently with online betting.
These players do not bet online because they think it’s fun - they bet online with the sole purpose of making a profit.
Therefore, they take a very analytical and research-based approach to online betting.
They don’t place a bet on Mumbai Indians because they love the team and want them to win, they place the bet because they have concluded through research and analysis that this provides the best opportunity for profits.
Learning how to become a profitable online bettor takes time and effort - just like building any other type of skill.
As such, making money through online betting is not a get rich quick scheme. You certainly won’t become rich overnight, unless you’re very very lucky.
Professional online betting isn’t for everyone
If you’re one of the many people who enjoy online betting as a fun and entertaining hobby, that’s great. You don’t need to become a professional online bettor. Professional online betting isn’t for everyone.
By turning your hobby into your profession, you risk losing your passion and becoming disenchanted with online betting.
If you’re happy betting online, keep it as a hobby - sometimes you win, sometimes you lose, but you always have fun!
Understanding online betting
To fully understand online betting, there’s only one thing you can do: get started!
Start betting online
Getting started with online betting is simple.
Now that you know the basics, you’re ready to join your first online betting site.
Check out the list of online betting sites below and select the one that appeals to you. Once you sign up and make a deposit you’ll be rewarded with a handsome welcome bonus!