Insurance in football betting. What is it all about?
FOOTBALL BETTING INSURANCE EXPLAINED
Wait, so there's insurance in betting? Well, yes, there is. Gambling is an investment, and just like any investment, it is ideal for it to have insurance.
You've probably have heard this before. If you are a long time better who is active in the betting community, you might have heard other bettors say something about insurance. So, what exactly is this betting insurance?
WHAT IS INSURANCE IN BETTING?
Typically, insurance is a form of risk management that saves you from incurring a financial loss in an unfavorable event. Now, this is similar to what happens with insurance in betting. With insurance in betting, you don’t lose all your money even if your predictions comebacks false.
Some bookmakers call it a "cash-out." These bookmakers give you the option of cashing out your profits before a match ends. However, you would get lesser than you should have if your prediction were to be true.
Let me give an example. Let's say you place a bet for Liverpool to beat Manchester City by 2-0 with an expected profit of $100. If City scores, you can decide to cash your bet at that point, leaving you a smaller amount of $40.
There are different sides to the insurance. You can cash out while your selected team is winning, you can also cash out when they are losing, and you came also cash out of an accumulator bet. Some bookmakers also have exciting insurance offers, which we would also talk about in this article.
Keep in mind that for each of the options, the odds are affected in different ways, and your cash out is calculated differently.
EXITING WHILE THE TEAM IS LOSING
Let’s say there’s a match between Arsenal and Liverpool. And before that match, you placed a bet on Liverpool with odds of 2.0. Assuming you placed the bet at $100, now you can expect a profit of $200.
The match has started, and things are not going in favor of Liverpool. The odds fall to maybe 0.5. At this point, you can decide to exit the bet (as insurance) since it doesn't seem like the bet would win eventually.
The bookmakers would most times not show you how they calculate your money at this point, but hypothetically, this is how some of them calculate it.
(New odds × Original stake) - 10%
Using this formula with our example, your money now would be
(0.5 × 100) – 10 = $40.
So, if you decide to insure your bets at that point, you cash out at $40. Looking at the difference between the cash-out and the expected profits, you have to be sure to cash out.
EXITING WHILE THE TEAM IS WINNING
What if the team you bet on is winning? Can you still insure your profits at this point? Well, yes. Some bookmakers give you the option of cashing out while your team is winning.
However, you shouldn't expect that you would get the same money as you would if you waited until the end of the match.
For example, if you were supposed to win $300 when Team A beats Team B in a match. Now, the match has started, and Team A is winning by two goals. Things seem pretty good here, right? Let's say, Team B now scores one goal. At this point, the bettor is unstable and could be worried that Team B could win.
So, the bookmaker offers you insurance, you can cash out a reduced profit of maybe $240 at this point and end your bet here. If eventually, Team B wins, you are still safe because you have already cashed out your money.
On the flip side, if Team A wins the match, you don't win the $300 because you have forfeited the bet already.
INSURANCE ON ACCUMULATOR BETS – ACCA INSURANCE
Some bookmakers also give you insurance on your accumulator bets. Accumulator betting is when you place bets in multiple match selections on a single bet slip. Usually, the profits of all the selections are tied together. For you to win your profit, all the predictions on your slip have to come back correctly.
Winning all the bets could be difficult, so with some bookmakers, you can opt for a cash-out after winning a few bets in your accumulator.
For example, let's say you entered three selections accumulator bets with $100. Each having 2.0, 1.0, 2.0 odds. If all predictions on the three selections come back correct, you are expected to get a profit of $500. That said.
A – 2.0
B – 1.0
C – 2.0
Bets entered with = $100; Expected Return = $500
Assuming the matches, A and B have been concluded, and your predictions were correct. However, match C is ongoing, and things are not going as you expected. To avoid losing your already acquired profits, you can cash out your bet at this point.
Instead of getting the expected $500 for the three selections, the bookmaker can offer you like $250 for the already won predictions. Judging from the way the last match selection is going, this might be a good offer.
To avoid losing all the bets completely because of one wrong prediction, you can go for the offer. You could also take the risk and wait for the last match to end to see if you could still win your full $500.
Some bookmakers like 1xBet have special insurance offers. In this offer, you pay a premium to insure your bet to get back your money even if you lose the bet.
So, if you place a bet at $100, you can insure it with $10. Therefore, if you lose the bet, because of the $10, the bookmaker pays you back your $100.
In offers like this, the bookmaker decides the premium you pay depending on odds and the amount you stake. Many bettors love the idea, while some don’t like it because they still lose their premium.
That’s what insurance in betting is all about. In conclusion, you can more money from gambling by using our highly accurate computer-generated football predictions. And of course, we have expert betting tips designed to make you a more skilled bettor. So, stay tuned to Tanzania Tips.
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