Taking The Winner Out For Better Odds
Whether you are gambling on the horses, football or a tennis tournament, there will always be a favourite, and more often than not the favourite will be “red hot”, offering very short odds for your money. So how can you try to lengthen your odds a little, and give yourself the chance of a bigger hit?
Unless there is very small field or number of options, the chances are that while possibly “red hot” in the betting market, you should be able to get at least evens on your money with a favourite bet. So how can you use this to your advantage?
Imagine if you were in the situation where you had a tip for a winner at say 20 to 1, or you had done your homework and spotted something which the market seemed to have missed, but the favourite was your main obstacle, the one that could spoil it all. In this instance it would probably be best to give yourself some kind of insurance, by using the favourite as your backup, and putting a few pound on your hot tip. So how exactly does it work?
Let say the favourite was evens and your “tip” was 20 to 1, you may like to consider the following :-
Place a £10 win on the favourite at evens = potential winnings of £10
Place a £10 win on your tip at 20 to 1 = potential winnings of £200
If your tip comes in then you will walk away with a profit of £190, i.e. the £200 win, less the £10 stake on the favourite. However, your insurance would kick in if the favourite won, with the £10 win from your favourite bet covering the £10 stake on your tip.
Many people fall into the trap of thinking it is crazy to bet on more than one outcome in a betting market, when in fact you can cover yourself and in some instances gives yourself an insurance to fall back on. Gambling is all about strategies…….