What is a betslip?
Online sports betting is one of the most exciting ways to get closer to the game, however, it can be intimidating in some instances, especially if you’ve never placed a bet before. To get you started on your sports betting journey, we’re covering one of the most common resource you’ll see and use in sports betting, the betslip.
To place any type of sports bet, whether online or in a traditional, land-based store, you’ll be given a betting slip as proof of your selections. If your betslip has winning selections, you’ll then return this slip to the teller (in a land-based store) to receive your winnings. If you’ve placed your bet online, bookmakers usually pay your winnings directly into your sports betting account and you can withdraw your funds or keep them in your account to place further bets.
Online betslips automatically calculate your potential winnings by multiplying your betslip total odds and bet amount. For example:
If ABC FC United are tipped to win at 1.5, then this would be your calculated potential winnings:
- 5 x R100 = Potential return of R150
On each betslip, you will find the following information:
- A list of your selected games
- Betting markets
- Stake amount
- Potential return
- Clear bet option
- Place bet option
Types of bets
Each betslip can have either a single selection on it or it can have multiple selections on it from different sporting events.Single bet
This betslip has only one selection of the game you would like to bet on, plus your stake and potential return.Multi Bet/Accumulator
A betslip with multiple/two or more selections is called an Acca or Multi Bet, it contains multiple selections of games you are betting on, the markets you selected, potential return and stake amount. This betslip is designed for you to place multiple selections at the same time. You can also place bets on unrelated sports events as well, the betslip is not limited to only one type of event. Some betslips display the potential return for each bet separately. Others display the total potential winnings for all the selections on the betslip.
Odds are what sports betting is about, so it is very important to know and understand how odds work before you can start placing online bets on your favourite sports events.
The basic principle of odds is, they express the probability of an outcome in numbers and can be added to give exactly 100%. The easiest way to understand how this principle works is through the example of a coin toss. There’s a 100% chance that the coin will either land on heads or tails, however there’s a 50% chance it will land on heads and a 50% chance it will land on tails. Each of these two possibilities equal 100% when added together.
Each outcome is calculated based on how likely it is to occur. If a team or player is likely to win the game, their odds will be lower since they go into the game as favourites. If the probability of the outcome is less likely to occur, then the team or player will be given higher odds as they go into the game as the least favourites.
Take a look at our odds calculator if you need help calculating odds.
Decimal and fractional odds
Decimal odds are the most popular odds format in online bookmakers after fractional odds, as these are usually the default format. Most bookmakers have the option to change between the two formats based on your personal preference.