Despite being a relatively new company, Pragmatic Play has quickly become a prominent online slots developer. Their slot games are already a hit with casino fans, but what explains their success?

Today, we’re going to take a good look at Pragmatic Play and its games, and hopefully, find the answer to why this company in particular has stolen the hearts of slots fans all over the world.

A Brief History of Pragmatic Play

The company was founded in 2015 and is headquartered in Malta. Pragmatic Play is one of a number of slot businesses that have secured a license from Big Time Gaming to use the Megaways feature of their games. 

Pragmatic Play has received numerous awards and recognition in the gaming industry. In 2018, they won the EGR B2B Award for Innovation in Slot Provision. 

The company’s games are regularly reviewed by independent bodies to ensure both randomness and fairness, and they are certified by Gaming Laboratories International, Quinel, and Gaming Associates.

They are licensed and regulated by several industry bodies, including the Malta Gaming Authority, the UK Gambling Commission, and the Romanian National Gambling Office.

What Makes Pragmatic Play Unique?

Pragmatic Play offers a multi-product portfolio of award-winning slots, live casino games, bingo, virtual sports, and more; available in all major regulated markets, languages, and currencies. 

They are known for their persistence in crafting immersive experiences with a nail-biting pace of gameplay. Plus, they consistently deliver best-in-class services to casinos all over the world. They are dedicated to creating games that players love time and time again.

Pragmatic Play’s games catalog is diverse and stays on top of current trends. They are also known for creating titles that use some truly unique features. These include the Megaways mechanic, free spins, huge jackpot games, and different kinds of bonus rounds. 

The Best Pragmatic Play Slots

Given that the company has released well over 300 slots, it’s easy to understand how hard it is to choose the top Pragmatic Play slots. Here are some of the best Pragmatic Play slots you can find at trusted online casinos, both with and without cryptocurrencies as a payment method.

1. Wolf Gold

Wolf Gold is a 5×3 slot game with 25 paylines. Set in the American wilderness, the symbols include wolves, buffalo, eagles, and horses.

The wolf pack is stacked on all reels, and hitting the Blazin Reels Free Spins feature can trigger a Mega Jackpot. The game also has a Money Respin feature, where you can win one of three jackpots.

The RTP of Wolf Gold is 96.01% . Pragmatic Play rates the game as having a medium volatility, with a 6/10 rating.

2. The Dog House Megaways

The Dog House Megaways is a 7×6 slot game with up to 117,649 ways to win. The game has a fun, cartoonish theme centered around dogs, with symbols including different breeds of dogs and their essential belongings. 

The game has a Raining Wilds feature, where up to 6 wild symbols can appear on the reels. There is also a Sticky Wilds feature, where wild symbols remain on the reels for the duration of the free spins round.

The RTP of The Dog House is 96.55 and the volatility is high. The game has a high volatility rating. 

3. Gates of Olympus

Gates of Olympus is a 6×5 slot game with 20 paylines. The game has a Greek mythology theme, with symbols including gods and goddesses like Zeus, Athena, and Apollo.

Enjoy the Tumble feature, where winning symbols disappear and new ones replace them. This could potentially lead to multiple wins in a single spin. There is also a Free Spins feature, where players can win up to 15 free spins.

The RTP of Gates of Olympus is 96.5%, and the volatility is high like in many other Pragmatic Play slots. 

4. Big Bass Bonanza

Big Bass Bonanza is one of Pragmatic Play’s biggest hits. It features a fishing theme, immersing players in a serene and relaxing atmosphere as they try to reel in big wins. The game is set against a backdrop of a peaceful lake, with symbols including fishing rods, tackle boxes, and various types of fish.

One of the unique features of Big Bass Bonanza is the Free Spins feature. By landing three or more scatter symbols, players can trigger the free spins round, where they have the chance to catch even bigger wins. 

During the free spins, the fisherman symbol acts as a wild and can multiply wins by up to 10x. Additionally, the game has a Fisherman Wild feature, where the fisherman symbol can randomly appear and catch fish symbols, turning them into wilds and potentially leading to bigger payouts.

The RTP of Big Bass Bonanza is 96.71% . This means that, on average, players can expect to receive back $96.71 for every $100 wagered over the long term. Big Bass Bonanza is a high volatility slot. 

Tips For Playing Pragmatic Play Slots 

Here are some tips for playing Pragmatic Play slots. 

Set a budget before playing

It’s important to establish a budget for your slot play and stick to it. Determine how much money you are willing to spend and only play with that amount. This will help you manage your bankroll and avoid overspending.

Understand the mechanics and bonus rounds

Take the time to familiarize yourself with the paylines and bonus rounds of the Pragmatic Play slots you are playing. Understanding how the paylines work and what the bonus rounds entail can help you make informed decisions and maximize your chances of winning.

Make the most of casino bonuses and promotions

Many online casinos offer bonuses and promotions specifically for slot players. Take advantage of these offers to boost your bankroll and extend your playing time. 

Be sure to read the terms and conditions of the bonuses to understand any wagering requirements or restrictions.

Remember, playing slots should be a form of entertainment, and it’s important to gamble responsibly. Set limits, play within your means, and enjoy the experience. 

Powered by blockchain technology and crypto, this new style of betting is shaking up the gambling industry.

Bettors can enjoy all the same great gambling opportunities, including a wide range of odds and markets, as well as live streams, and in-play betting. But now, decentralized betting platforms also offer the chance for quicker withdrawals, higher cashout limits and minimal fees. And of course, possibly the biggest plus point for many players is the chance for 100% anonymity; something you simply don’t get at traditional sports betting websites.

Together, we’re going to look at the world of decentralized betting. Furthermore, we will take a look at its future potential, and discover decentralized apps (dApps) and their role in this exciting gambling evolution.

Decentralized Betting 101

Decentralized sports betting operates using blockchain technology. This ensures transparency, security, and fairness.

Unlike traditional centralized betting platforms, there are no intermediaries to hold control over the entire process. Instead, decentralized platforms eliminate the need for “middlemen” like banks and lenders by using smart contracts.

As a result, these self-executing contracts enable direct peer-to-peer transactions. This creates a trustless environment where you can bet securely, without any human interference.

Advantages of Decentralized Sports Betting

1. Transparency and Fairness: One of the key advantages of decentralized betting platforms is their transparency. Every transaction, bet, and outcome is recorded on the blockchain, making it easily auditable and verifiable. This transparency builds trust among participants, ensuring that all bets are executed fairly, without any manipulation or tampering
   
2. Elimination of Intermediaries: By cutting out intermediaries, decentralized platforms reduce costs and minimize the complexity of the betting process. Bettors can directly interact with the platform, placing bets and receiving payouts seamlessly. This peer-to-peer nature of decentralized betting empowers users, enabling them to have full control over their wagers
   
3. Global Accessibility: Decentralized platforms have a global reach, allowing users from various regions to participate without restrictions. Since these platforms are built on the blockchain, they are not bound by geographical limitations or regulatory barriers, providing a truly inclusive betting experience for enthusiasts worldwide
   
4. Enhanced Privacy: Privacy is a crucial aspect for many bettors, and crypto-friendly betting sites offer increased privacy protection. Therefore, you can bet using your account without sharing sensitive personal information, as transactions on the blockchain are pseudonymous and do not require the disclosure of personal details

The Emergence of Decentralized Sports Betting Apps

As the popularity of decentralized sports betting grows, so does the development of crypto sports betting decentralized apps (DApps). These DApps serve as user-friendly interfaces, allowing bettors to access decentralized platforms seamlessly. With intuitive designs and secure wallets, these apps provide a convenient way for users to interact with decentralized betting platforms using their preferred cryptocurrencies.

Furthermore, crypto sports betting DApps offer a range of features. These include real-time odds, live streaming of sporting events, and instant settlement of bets.

In addition, these applications use blockchain technology to create a transparent and efficient betting ecosystem. Here, you can place bets, track wagers, and receive payouts in a seamless manner.

The Future Potential

The rise of decentralized sports betting shows a shift towards a more diverse and inclusive betting landscape. By leveraging blockchain technology, decentralized platforms are revolutionizing the industry, empowering users and eliminating the limitations of traditional centralized betting systems.

Looking ahead, the future potential of new ways to bet on your favorite sports is immense. As more individuals recognize the advantages of transparency, fairness, and global accessibility, the use of decentralized platforms is expected to increase. Furthermore, advancements in blockchain technology, such as scalability solutions, may address the challenges of handling large-scale betting volumes and further enhance the user experience.

Final Thoughts

Decentralized sports betting represents a shift in the world of betting, providing a secure, transparent, and inclusive environment for bettors. By leveraging blockchain technology, decentralized platforms enable direct peer-to-peer transactions, eliminating middlemen and gaining trust among bettors. With the emergence of user-friendly crypto sports betting DApps, the accessibility, and convenience of decentralized betting have improved significantly.

So as this ecosystem continues to evolve, it looks poised to reshape the future of the industry. With its many pros and the potential for further innovation, decentralized betting is here to stay.

With up to 12 rounds of action in boxing bouts, and 3 to 5 in MMA, a backed fight boosts your enjoyment, and could see you walk away with a nice stack of cash in your back pocket.

Boxing Round Betting Explained

We often hear the question “what does round betting mean in boxing?”, and fortunately, the answer is pretty simple. 

Round betting boxing strategy is when you predict the winner of a match in a combat sport, as well as the round in which he/she will win. The most popular sports for this type of betting are MMA and boxing. 

While very simple in principle, there are various types of round betting. Each one offers the chance to place relatively safe bets, or to predict an unlikely outcome that could land you a great payout. 

How Does Round Betting Work in Boxing?

In combat sports, round betting involves wagering on the specific round in which a fight will end, or the total number of rounds in the bout.

When it comes to boxing round betting rules, there are various ways to place bets on a specific round in MMA or boxing. Here are some popular examples:

• Exact round
• Exact round + method of victory
• Total number of rounds (over/under)
• Whether the fight will go the distance

As you can see, there are quite a few round betting boxing and MMA markets. So let’s take a look at each one in a little more detail. 

Exact Round

There are two ways to bet on the exact round without specifying a “method of victory.” They are:

• Betting on the round without naming a winner
• Betting on the round and the winning fighter

As you can imagine, betting on just the round when the fight will finish is an easier wager than predicting the round plus the winning fighter. However, as is true of all sports betting, the harder the prediction, the more you stand to win if it comes in. 

Method of Victory

A bet on the method of victory is when you predict how a fight will be won. There are three main methods of victory in combat sports:

• KO/TKO
• Submission
• Judges’ decision

The method of victory plays a significant role in round betting. While you can bet on when the fight will end, your payout will be higher if you also correctly predict how the fight will be finished.

For instance, let’s consider this example:

You bet $100 on Alistair Overeem to beat Alexander Volkov by KO/TKO in the third round. If you’re correct, you could win up to twenty times your stake at some crypto sports betting sites, depending on the specific odds. 

Since it’s a heavyweight matchup, the fight is unlikely to last until the third round. Additionally, by going with Overeem you’re betting on the underdog. That’s why you get such good odds. 

However, anything is possible, and if you can predict this outcome correctly, you’ll bag yourself a very tidy sum. 

Some call this bet a “Method & Round Combo.” These wagers can result in some great wins, but they can be challenging to predict.

Will the Fight Go the Distance?

You can also bet on whether the fight will “go the distance” or not. This simply means wagering on whether all the rounds will be completed, resulting in a judges’ decision.

Let’s look at the example of Alistair Overeem and Alexander Volkov’s MMA fight again. 

Since it’s a main event bout scheduled for five rounds instead of the usual three, there’s a higher probability of an early stoppage.

Considering that both fighters are heavyweights with some serious punching power, it’s likely that the fight will end before five rounds. Therefore, the odds favor the “No” option rather than the “Yes” option.

Total Number of Rounds

Totals betting (also known as over/under) is one of the most popular ways to bet in all sports and fits well within the structure of combat sports.

In round betting, when wagering on totals, you’ll see odds that specify a particular round. You need to decide whether the fight will end before or after that specified round.

Here’s an example of over/under betting in boxing:

Manny Pacquiao is up against Timothy Bradley with the following odds:

• Over 11.5 (-180)
• Under 11.5 (+150)

As you can see from the +180, this fight is predicted to last more than 11.5 rounds. If you want to bet on this outcome, you must wager $180 in order to win $100.

Or if you think the fight will end before 11.5 rounds, you’ll get $150 for every $100 you wager. 

Round Betting MMA 

In MMA organizations like the UFC, fights usually consist of three rounds. However, championship and main event bouts can extend to five rounds, so you need to adjust your strategy for such title matches.

MMA fights commonly end via KO/TKO, submission, or a decision from the judges’ scorecards. Additionally, there are two unconventional ways a fighter can win:

• Technical decision: When a fight is stopped due to injury, but the judges’ scorecard is used to determine a winner

• Disqualification: When a fighter is disqualified due to rule violations, resulting in the other fighter being declared the winner

Round Betting Boxing 

Boxing matches generally have 12 scheduled rounds, although some bouts may be scheduled for 8 or 10 rounds. The number of rounds can affect the betting lines due to differences in total fight time.

In boxing, fights can end via KO/TKO, judges’ decision, or when a corner throws in the towel. Technical decisions and disqualifications can also occur. A technical decision usually happens after an unintentional headbutt, while a disqualification can occur due to other rule infractions during the fight.

Overall, round boxing betting works similarly to MMA wagering, so you can apply similar strategies in both sports.

Other Factors to Consider

Here are some additional factors to consider when it comes to round betting:

• Weight class: Heavyweight fights often end in knockouts before all rounds are completed

• Fighter style and record: Fighters with many knockouts, like Conor McGregor, are more likely to finish fights early

• Referee: Some referees allow fighters to take more damage before stopping a fight

Conducting research on specific factors related to a fighter’s history can be helpful before placing round bets. This research may provide the edge you need for a successful wager.

Final Thoughts

Round betting boxing and MMA offers a great range of markets and odds for those who love MMA, boxing and other combat sports. 

You can play it relatively safe by betting on whether or not the fight will go the distance, or take a bigger risk on the exact round plus the method of victory. It’s up to you. 

This variety makes round betting fun for all types of bettors, from rookies to seasoned veterans.

However, many of the most successful sports bettors take the opposite approach. These ‘contrarians’ go against the grain and bet against what the public thinks.

Rather than going against convention for the sake of it, contrarian sports betting can take advantage of common betting errors and bias to benefit from a value bet. This article outlines contrarian betting and whether it is worth doing. It also provides some examples of it in action.

What Is Contrarian Sports Betting?

It is a tactic where you bet against the public. Successful investors often use contrarian thinking in the financial sphere. If a high percentage of casual investors dislike a certain investment, their disdain could cause it to become undervalued. Indeed, legendary investors such as Charlie Munger and Warren Buffett made huge sums of money by purchasing value stocks.

You can utilize contrarian thinking when it comes to sports betting too. It involves going against the consensus in a betting market. Contrarian betting, also known as ‘fading the public,’ takes advantage of public bias and the associated inflated lines.

One of the most compelling reasons why contrarian sports betting works is the enormous profits enjoyed by bookmakers. Let’s face it, on average, the general public loses! Therefore, it makes sense to consider going against the grain.

Why Is the Contrarian Betting System a Worthwhile Endeavor?

The casual punter routinely ignores data and analytics and performs little more than a cursory analysis of an event. Suppose there’s a strong favorite in horse racing. And that the odds on the horse are cut in the lead-up to the race. Many bettors make the mistake of following the price, convinced the favorite is a ‘sure thing’. They then watch in despair as the front-running favorite’s stamina betrays him, ultimately leading to a disappointing third place.

For the record, this hypothetical race is a 3.5-mile race on heavy ground. If punters had bothered to check the horse’s form, they would have discovered that it had never won a race longer than 3 miles and had a spotty record on heavy ground.

On other occasions, they bet with their gut and back a soccer team based on reputation rather than ability.

Casual punters usually bet on emotion or allow bias to take over. They tend to gravitate towards favorites without knowing whether they’re getting value. After all, such bets have a higher statistical chance of winning. And most people enjoy the thrill of seeing a bet come in.

Psychologically, it is easier to accept losing on a favorite; you can say it is bad luck or the strong team had an ‘off ‘night. It is much tougher to come to terms with losing on an underdog because it was a silly wager in hindsight. Did you REALLY think the Giants would beat the Eagles in Philadelphia? What a terrible decision!

The general public also likes to back the home side. They may have attended a few games or certainly watched them on television. Plus, they can hear the noise made by the crowd. Surely, the road team can’t cope with the vocal opposition of the masses?

Also, there is a bias toward high-scoring events, as it is fun to bet on a soccer match having lots of goals or an NFL game that turns into a shootout. For instance, it is highly unlikely that anyone thought the 54-51 game between the Rams and Chiefs in 2018 was anything other than a memorable match.

Most importantly, Average Joe makes up a big percentage of the market, so when the public bets en masse, they can significantly move a betting line. It is in such scenarios that contrarian bettors can strike.

What Are Suitable Contrarian Sports Betting Strategies and Markets?

Any market where the public is heavily involved! This could mean major events like the World Cup final or the Super Bowl. In essence, you’re looking for heavily bet events where the public’s bets have skewed the odds away from where they should logically be. For instance, in an NFL spread, if 70% of bettors are backing one side of the line, betting on the side receiving 30% of the bets is potentially a sensible contrarian move.

In North America, basketball and American football receive the most public betting action. Therefore, it is wise to focus on the NFL, the NBA, and big college games. In Europe, soccer is the big betting sport, with the English Premier League, Spanish La Liga, and the UEFA Champions League the best competitions to concentrate on.

In general, it is best to stick with the over/under and spread lines. This is because they tend to receive a higher proportion of bets than the Moneyline. Suppose there are 100,000 wagers on a game with 60% on the spread, 28% on totals, and 12% on the Moneyline. In each market, there is a 70/30 split on one side of the line, so going to the 30% side of the line is the contrarian play.

Yet, you should focus your contrarian sports betting efforts on the spread because it has the biggest share of bets. Clearly, the public is significantly overbetting on one side of the line. And you can take advantage by going the other way. The 30% of wagers on the Moneyline is too small a sample size to determine whether it is a good contrarian option.

Given the importance of betting volume, contrarian betting doesn’t work that well on sports like ice hockey and baseball. Fewer people bet on NHL and MLB games than NFL and NBA matches. Indeed, if the betting volume is low enough, it might be more fruitful to side with the higher percentage side of the line, as that’s probably where the smart money is going!

Contrarian Sports Betting in Action – Taking Advantage of Inflated Lines

The NFL Championship game weekend is a great example of potentially finding suitable contrarian betting opportunities.

The screenshot above, taken from Action Network, shows the percentage of bets on the spread line for the NFC and AFC Championship games. In the NFC game between the San Francisco 49ers and the Philadelphia Eagles, 69% of the money was on the Eagles, with a -2.5-point handicap to overcome.

In the AFC matchup between the Cincinnati Bengals and the Kansas City Chiefs, 69% of the bets were on the Bengals to win with a +1.5-point advantage.

Regarding the NFC game, the consensus was that the 49ers would fall short due to the inexperience of their quarterback, Brock Purdy, who struggled against the Dallas Cowboys’ defense. The Eagles have an even better defense, so many felt that Purdy and the Niners wouldn’t do enough to win. As it happened Purdy got injured at the start of the match. Then, Josh Johnson, the fourth-string QB, played for a while before getting a concussion!

Finally, the Eagles won by 24 points, easily defeating the points spread for the game.

Meanwhile, in the AFC match, the Chiefs’ QB, Patrick Mahomes, sustained an injury to his ankle in the team’s win over the Jacksonville Jaguars. The danger was that he wouldn’t be as mobile in the pocket, a big issue since Mahomes’ mobility is one of his best qualities. However, the superstar quarterback led his team to a 3-point victory, beating the -1.5 spread.

One Win, One Loss for the Contrarians

In the second screenshot, we can see the percentage of bets AND the percentage of money wagered on a couple of fiat-accepting bookmakers. A staggering 76% of the money and 73% of the bets were on the over 48-point line in the Bengals versus Chiefs game. This wasn’t a shock, given the Chiefs’ reputation for engaging in high-scoring matches at Arrowhead in particular.

Yet, the massive skewing of bets toward the over side of the line means the under side was worth another look. Last season’s AFC Championship game between the pair ended 24-24 (Cincinnati won in OT), exactly on the 48-point line. Moreover, the Chiefs’ game with the Jaguars had 47 points, while the Bengals’ easy win over the Bills had just 37 points. Add Mahomes’ injury issues, and you could make a case for under 48 points.

In the end, the contrarians won as the game finished 23-20 to the Chiefs.

You might also notice that 68% of the Moneyline bets in the 49ers versus Eagles game were on the Eagles, but 56% of the money was on the Niners. Was this a case of the ‘sharp’ money going on the underdog? After all, San Francisco was an extremely strong side, even with a rookie QB. Also, the Eagles’ form tailed off toward the end of the regular season.

Perhaps a couple of easy victories over an average Giants team was only papering over the cracks? Undoubtedly, you could make a case for the 49ers winning the game. Yet, in the end, the early injury to Purdy meant an easy win for Philadelphia. So contrarians who backed the Niners lost.

All of this is an insight into the information you need to consider when deciding whether a certain market offers a contrarian sports betting opportunity.

Can a Contrarian Betting System Work When Playing Popular Casino Games?

In a certain sense. If you play against humans on crypto poker sites rather than machines, you can analyze what most players do. After all, the average player loses in the long term. So, if you spot their mistakes, you can change your play accordingly. Blunders often made by poker players include:

• Playing and chasing too many hands
• Failing to accurately estimate their chances of winning
• Erratic betting
• Sitting at tables with better players
• Bluffing too frequently

By doing the opposite of the above, you technically become a ‘contrarian’ and are far more likely to make money.

Regarding games of chance, contrarian betting doesn’t change the fact that the house has a clear edge. Nonetheless, you can limit your losses and perhaps enjoy the occasional profitable gambling session by avoiding the statistically poor plays made by people at your tables. It is too easy to get sucked in by the excitement, lose the run of yourself, and make foolish plays.

The following are bets you can make in casino games that improve your chances of winning. They are also contrarian insofar as a staggering number of gamblers don’t make these decisions:

• In blackjack, only surrender on 15 against dealer 10 and on 16 against dealer 9 through Ace
• In roulette, stick with the European wheel, as it only has one zero
• In craps, choose the “don’t pass line” wager instead of the popular “pass line” option
• In baccarat, bet on the dealer
• Remember that slots are often the games with the highest edge in the casino, so don’t expect to win when playing them

Is Contrarian the Best Betting System?

Not entirely. If you focus solely on going against the grain, you’ll spend much of the time betting on low-quality teams and the unders market! Also, you could make the mistake of looking for contrarian betting opportunities where none exist. Do not go against the public in games with a low betting volume, as there isn’t enough money wagered to cause an excessive movement in the odds line.

However, contrarian sports betting is potentially very useful in large betting markets that attract a lot of casual bettors. Their biases, lack of research, and tendency to stick with high-scoring bets, favorites, or home teams can change the price enough to create a value betting opportunity on the other side of the line. Use contrarian betting in conjunction with other tactics but remember, the general public is right sometimes too!

If you’re excited about the possibility of winning by dancing to a different tune to other bettors, check out our list of the best crypto sportsbooks and find a suitable contrarian betting opportunity! 

This guide will shed some light on safe gambling tools, explaining how they can increase the awareness of players. Apart from learning about the best safe gambling practices, we will also present interesting surveys on this topic.

Let’s start! 

Helpful tools

Safer gambling is one of the frequently used terms in the gambling industry. It includes a set of actions applied by operators to ensure carefree and enjoyable betting. Wagering always includes some risk, so customers should know how to estimate and deal with both winning and losing. You can understand it as prevention and start thinking about how much you want to bet, and how frequently.

Responsible gambling tools are the perfect option for gambling operators to provide a safer environment for users. By putting them in place, operators tell players to start thinking smartly and responsibly:

• Deposit Limit: If you want to stay within a certain budget, setting deposit limits makes sense. Most platforms allow you to set daily, monthly, and weekly limits. Once you want to deposit more, you will get a warning about it.
• Loss Limit: This tool works similarly to the deposit limit. You only need to decide what your loss limit is and pull out of the site once you reach it.
• Time Out: Players who cannot control their activity can block themselves from visiting certain sites. Time out usually takes 30 days, during which you don’t have access to the casino.
• Session Timer: Another helpful gambling tool is the session timer. This allows players to limit the duration of certain sessions and means your account will log out as soon as your session time runs out.
• Reality Checks: If you decide to use reality checks, you opt to receive pops up after a certain period. They warn you about time spent on the site, but they don’t prevent you from staying there!

• Self-Exclusion: Players who are careful about having a safer gambling experience can finally opt for self-exclusion. By excluding themselves from the casino, they cannot access the platform for a fixed period. This usually includes weeks or months, but permanent exclusion is another possibility.

Results of GC Survey: Limited Awareness of Safer Gambling Tools

When you first think about safer gambling practices, you may be confused. Many people consider it a contradiction. Gambling has always had some connections with risk, and you will have a lot of chances to spend your money. At the same time, gambling is often not about winning and only about 2-3% of players have a positive balance in the long run. 

Before getting started with any risk activity including betting, you should be aware of the risk and possibility of losing! Staying realistic and knowing your limits seems like a logical step here. This is where safer gambling tools can help if you only stay informed.

A survey by the Gambling Commission of Great Britain (July 2021) has shown a limited level of awareness and knowledge of safer gambling tools among players. Based on the opinion of 8000 respondents in the Yonder survey, only 13% used safer gambling tools. Younger players used them more frequently, with 26% of players aged 18-24 replying positively.

On the other hand, participants over the age of 65 used such tools only in 4% of cases. The survey also demonstrated that online gamblers were the most frequent users of safer gambling tools, with a 16% rate. As for the most preferred tool for safer gambling, players chose both deposit and loss limits. Reality check tools took second place here, with a 5% figure.

The Yonder survey also found a limited awareness of safer gambling tools. Players were mostly aware of deposit/loss limits, responding affirmatively with a 59% rate. Other tools they were aware of included time out (45%), reality checks (37%), and exclusions (29%).

Crypto Betting Survey on Safer Gambling

While the Yonder survey shows useful findings, we should also mention the results for the crypto gambling industry collected by Greo. “Safer gambling and consumer protection features in crypto-based online gambling” is the name of the study focusing on the UK market. It uses information collected from 40 cryptocurrency online gambling websites in English that were popular among users.

As mentioned in the abstract of the study, online gambling is a hefty risk factor for problematic gambling behaviors. At the same time, crypto online gambling platforms are mostly unregulated. 

This brings the risk that such sites won’t protect customers from risky gambling.

Greo researchers checked the top 40 crypto online gambling platforms. They reviewed features related to consumer protection and safer gambling practices, and found that most websites did not appropriately protect users or provide info on safer gambling tools. Additionally, age verification was not among the requirements. Also, something like below half of the platforms actually held a valid license. 

Approach Towards Safer Gambling Tools in the UK

One of the important parts of Greo’s research examined the operators’ approach toward delivering safer gambling info. The results showed that 31 online platforms (77.5%) created a safer gambling page, named “responsible gambling, “safe play”, or ” “fair play”. However, such pages included inappropriate material or were hard to access. 

Nine sites (22.5%) presented promo material enticing participation in gambling on safer gambling dedicated pages, offering free spins and bonuses on the first deposit. Three pages (7.5%) were unlinked to the brands’ websites, with two of them detectable (5.0%) only via a search engine. 

In addition to this, thirty operators (75%) included a statement of commitment to safe gambling. Twenty-seven (67.5%) platforms provided information about their safer gambling tools. Thirty-two (80%) sites contained a warning that crypto gambling can cause harm. 

However, these messages included inadequate themes.

Greo researchers also found that twenty-nine (72.5%) platforms cited a gambling help organization or self-help group. These details were not consistent across the websites and  were accessible from multiple locations. 

It is also worth mentioning that fifteen (37.5%) platforms offered a self-assessment tool to support users in identifying potential problems. 

Real-Life Example: Available Tools in the UK

With the growing importance of safer gambling tools, their availability is another important factor. The same research performed by Greo found that 25 (62.5%) operators provided at least one tool for safer gambling. Only six brands (15%) had limiting options, with five of them (12.5%) offering only deposit limits, and one (2.5%) offering loss, bet, and session limits. 

In addition, 17 operators offered cooling-off/time-out periods (42.5%), determined as any pause lasting less than six months. However, customers had to request such a tool via customer support at eight operators (47.1%).

Crypto gambling sites also provided voluntary self-exclusion (24 brands; 60%), or any break taking more than six months involving permanent self-exclusion. This tool, however, was available via customer support request at 17 operators (42.5%). 

Results of the Greo study are very useful for guiding players through their future gambling experience. By familiarizing themselves with aforementioned figures, they can know what to expect when signing and depositing their money on such sites.

As you can see, the market is full of tools to manage gambling problems and provide a safer betting environment. However, the key role belongs to players, who should embrace a smart gambling approach and implement responsible gambling practices. Knowing personal limits while making decisions based on the broader picture is one of the best tips you can get.

However, not many punters realize that there are different types of bookmaker ‘scams’ designed to relieve you of your money. Worse still, these tricks aren’t considered scams at all. They are performed by legit bookmakers, with bettors the willing victims. For the most part, there is little you can do once a bookie acts in such an underhanded manner, although they aren’t quite as bulletproof as you might think.

This article investigates how supposedly ‘reputable’ bookies deceive you, ensuring you have practically no chance to win. It looks into limiting accounts, voiding winning bets, and much more.

Limit Winning Accounts – The Tried and Trusted Legit Bookmakers Sportsbook Scam

Many bettors have no idea how much information a legit bookmakers knows about them, nor are they aware that they’re under surveillance from the beginning.  For example, bookies know your location from the moment you sign up.

Successful trader and enemy of the bookies Caan Berry created a video on YouTube outlining the process. He spoke to individuals who currently work with, or were once employed by, legit bookmakers to learn more.

According to Berry, bookies use the information you enter during registration to profile you and place you in a group. For instance, they may put you in the recreational punter group if you open an account and put a small wager on a major horse race such as the Gold Cup, Grand National, or Kentucky Derby. In this instance, the bookie believes you are potentially a ‘soft’ touch.

He says that customers are on a “probation period” of around three months, a fact that very few people realize. During this spell, the bookmaker watches you closely to determine the type of bettor you are.

Welcome to Restriction City

If you place ‘value bets,’ your account is sent directly to the fourth stage of the procedure, the trading desk, where they decide to restrict you. The algorithmic bracket is the third stage and is where the majority of bettors spend most of their time. Traders use software to analyze your betting patterns constantly. You get flagged if they determine that you know what you’re doing. Yes, the bookie doesn’t want your business if you show competence!

Perfectly legit bookmakers also look at staking patterns to determine whether you should be flagged. Every account begins with the same staking limits. However, if you begin winning consistently for just a few weeks, the bookmaker will restrict your bet amount.

If you’re profitable in most sports but struggle in one, horse racing, for example, the bookie cuts stakes for every sport, barring horse racing. Indeed, they may increase your staking level for that particular sport since you have lost money on it.

Incidentally, they don’t see you as a threat if you receive plenty of promotional offers. It also means you’re probably not doing very well!

In a nutshell, legit bookmakers operate in a risk-based industry but are permitted to all but eliminate their own risk. Small wonder that the industry reports record profits every year.

Palpable Error – The Lack of Accountability Sportsbook Scam

Everyone makes mistakes; certainly, even the most experienced and successful bettor will occasionally blunder. This could be in the form of betting more than you intended; suppose you stake $200 instead of $20, for example. Alternatively, you may bet on the away team when you meant to back the home side.

That’s okay, though. A quick message to your friendly bookmaker, and you’ll get your money back, right? WRONG! If you make a mistake, tough luck! There’s about a 5% chance of catching a break from the bookies.

Things are very different when the bookie gets it wrong. Suppose you find that Manchester City is available at odds of 6/1 to beat Aston Villa at home. Given the teams’ respective strengths, this is quite clearly a value bet and a pricing error on the bookmaker’s side.

Alas, your joy is short-lived. Once City takes care of business, you can expect to receive a message telling you it was a ‘palpable error.’ The legit bookmaker will void the bet or settle it at substantially shorter odds. A palpable error is classified as an obvious mistake.

Defending the Indefensible

Incredibly, some punters defend the bookie in this case. In reality, the same rules should apply as when a bettor makes a mistake. Bookmakers are experts in their field and should never be permitted to walk away unscathed after a mistake.

What’s worse is that sportsbooks increasingly use the ‘palpable error’ excuse whenever it suits them. It is one thing to make a claim when they price an event at 100/1 instead of 10/1. It is very different if they offer a price of 12/1 when other bookies price the event at 7/1. In that case, it is bad pricing on their part, and they deserve to be punished.

Incidentally, don’t accept the bookmaker’s terms and conditions spiel as the end of the matter. The possibility exists that a specific company’s Ts and Cs are unlawful. Rather than appealing to whatever independent adjudication service is in your region, consider taking action via a small claims court.

Bad Value ‘Specials’ – The Generous Legit Bookmakers Sportsbook Scam

The most popular fiat-accepting bookies sometimes seem to work in tandem, particularly in their efforts to push bad value ‘specials.’ The idea, of course, is to dress up a terrible wager as a good one, hoping that marketing will triumph over reason. Sadly, it often does.

The scorecast bet in soccer is one of the best examples of a wager with value so poor that it almost constitutes a sports betting scam. This bet, usually available for matches in major European leagues, involves selecting a player to score first AND the match’s final score.

In the above screenshot, relating to the Wolves versus Liverpool English FA Cup game, Raul Jimenez of Wolves is available at odds of 136.00 to score first in the match and the game to end 3-2 for the home team.

On the face of it, this seems like great odds. If you bet $10 and win, the total profit is $1,350! There’s one problem: The bet is really bad value! Remember, you need two outcomes for your wager to win; Jimenez has to score first, and the match has to finish 3-2 for Wolves.

A simple way to determine whether you’re getting good or bad value is to multiply the odds of the two independent events happening. The odds of Jimenez scoring first are 7.50 and the odds of Wolves winning 3-2 are 34.00.

7.5 x 34 = 255

Therefore, you get odds of 136.00 when the price is 255.00 once you multiply the two events. The bookmaker will argue that Jimenez scoring first increases the likelihood of the game ending 3-2 to Wolves. However, there should not be such a massive disparity in the prices.

Make You Think Losses Are Wins – The Sneaky Bookmaker Scam

This is one of the most insidious bookie tricks and often happens in slot games, mainly because it is hard to pass a loss off as a win in sports betting. If you back a horse to win in a National Hunt steeplechase race and it falls at the third fence, you’ve lost your full stake!

However, in the online casino section of legit bookmaker sites, something magical happens when playing slots. They display a message proclaiming you a winner, even though you incur a net loss. Suppose you wager $5 per spin. At one point, an animated box appears and says, “Winner paid $3.50.” The accompanying happy music makes you think you’re in luck, but in reality, you have lost $1.50.

Sometimes, the same message appears for these losses as actual wins. Consequently, you’re fooled into thinking things are going well when you’re losing money steadily. You’re also more likely to continue gambling, leading to bigger losses.

In the UK, online casinos are banned from including visual effects and happy music with net loss ‘wins.’ However, this isn’t necessarily the case in every global jurisdiction.

Playing With House Money – The Devious Sports Betting Scam

Let’s face it, most people like receiving ‘free’ money, and hardly any gambler will refuse a juicy $50 ‘free’ bet from the bookie. Of course, such wagers come with more strings than a marionette.

First, you typically only receive the bet if you deposit a certain amount. A “deposit $50 get a $50 free” bet is one of the most common offers. This is a great way to lure punters back in. After all, if there’s a $50 free wager on offer, you’re more likely to scrape together the $50 needed to activate it than if there was no bonus.

One of the main caveats is that you must play through the wager numerous times before withdrawing. Also, the bookie takes advantage of a psychological phenomenon known as the “house money effect.” You’re more likely to take bigger risks with this ‘free’ cash than if you deposited it.

Then, once you’ve experienced the thrill of another wager, you’ll probably continue betting. Even if you profit from that free bet, you must negotiate a lengthy play-through period. Your balance will likely hit zero before that happens, prompting you to deposit once again.

Legit Bookmaker Scams: What’s the Solution?

Without meaning to sound facetious, stopping gambling is one way to avoid the above issues. Certainly, if you’re enduring unsustainable financial losses, it is essential to seek help as you possibly have a gambling addiction. As the sad tales of countless individuals show, things are far more likely to get much worse than better.

Another option is to move away from fiat-accepting legit bookmakers, most of whom have terrible customer reviews. Here is a sample of reviews on Trustpilot, one of the biggest independent review websites in the world.

As you can see, three of the ‘big’ names in bookmaking have appalling ratings of just 1.3 stars each from many reviews. It is quite some feat to be THAT dreadful!

Compare this rate of enormous customer dissatisfaction with the reviews for some of the crypto betting sites we believe are among the best around.

As you can see, both Stake and MyStake have excellent ratings of 4.4 stars, while Bitcasino.io has a decent score of 3.6, far above virtually any fiat-accepting bookie. Are these sites perfect? Of course not! You can see 1-star reviews in each case, as customers have wildly different experiences on these sites.

However, it is a sign that crypto gambling sites are comprehensively outperforming their fiat rivals. These sites know they face skepticism from certain quarters. As such, they try harder than ‘old school’ bookmakers, which means a better customer experience.

We can’t guarantee you won’t run into the above issues. Indeed, some customer reviews suggest that crypto sites engage in similar behavior to fiat bookies. Yet, the overall scores suggest that, on average, you’re less likely to encounter common sports betting scams on crypto betting sites.

Don’t Take Bad Bookmaker Behavior Lying Down

Unfortunately, until government legislation changes, legit bookmakers will continue to get away with disappointing antics. As a bettor, you need to know your rights. Don’t allow such companies to get away with a typical supposedly ‘permissible’ bookmaker scam. In some cases, their terms and conditions are unlawful, which means you could get your money back by taking the appropriate action. There are plenty of resources online to help you, including the very helpful Justice for Punters website. It provides useful information on avenues you can take if you feel a bookie wronged you. You can also send a message via the site’s Twitter account.

Fortunately, once you grasp the law of large numbers, you can stop making common betting mistakes. It is a mathematical law that increases your knowledge of the laws of probability and enables you to stand firm psychologically when your betting system goes through a rough patch.

This article outlines what the law of large numbers says, how it applies to gambling and how it helps you learn realistic expectations when betting.

What Is the Law of Large Numbers?

The law of large numbers is a way of determining a random event’s probable and expected outcome. It investigates the result when you conduct the same experiment a huge number of times. Ultimately, the more often you repeat an action, the closer the results are to the expected value.

Bernoulli used a coin toss as an example. Assuming you use an unbiased coin, the chance of it landing on heads is 50%, and the chance of it landing on tails is also 50%. However, if you toss a coin 50 times, it probably won’t have an even 25-25 heads and tails distribution. Indeed, the number of heads could be significantly more than tails, say 40-10.

You can expect either heads or tails to land at least six times in a row in any sample of 50. Once the sample reaches 1,000, the coin may land on heads, for example, 10+ times in a row. This fact can ensure the coin comes up heads significantly more often than tails in a small sample.  

Over time, though, once the sample size gets large enough, such as one million, there should be a near-equal distribution of heads and tails. At this point, the expected deviation will be up to 500, which may seem like a lot but is very small in percentage terms.

Suppose the coin lands on heads 500,200 times and tails 499,800 times. This means heads appeared 400 times more than tails. However, this equates to 50.02% heads and 49.98%, a tiny differential.  

How to Apply the Law of Large Numbers in Sports Betting

Once you understand the law of large numbers, it can help you avoid falling into the Gambler’s Fallacy trap. You now realize that there are sometimes surprisingly large deviations from expected results in the short term.

The infamous incident in Monte Carlo in 1913, where the ball landed on black 26 times in a row on the roulette wheel, is an example of extreme deviation from expected results. In one of the clearest examples of Gambler’s Fallacy on record, bettors continued to pile money on red, believing they were more likely to win on the next spin. Of course, the outcome is random, so each spin is independent of the one before and after.

Therefore, the sample size is key according to the law of large numbers. You should not expect an ‘even’ spread within a small sample size. The roulette players in Monte Carlo on that fateful day discovered, to their great cost, that 26 spins of the wheel were nowhere near enough to bring parity between red and black.

As far as the law of large numbers in sports betting is concerned, you should apply the principle to any systems you have in place. Suppose your system’s average win rate is 50%. During a short period of, say, 100 bets, you could, and possibly will, experience significant variance in results.

It is unlikely that you will win precisely 50% of the time. You must also account for your betting system’s sample size. For instance, if the win rate is calculated from 250 bets, it is likely not representative of how often it picks winners. On the other hand, if your system’s sample size is 2,500, a 50%-win rate is probably quite close to reality.

In a nutshell, don’t place a massive amount of faith in a betting system, or tipster, with a sample size of a couple of hundred bets.

What About the Law of Large Numbers in Casino Betting?

The law of large numbers is arguably even more relevant in casino games than sports betting. After all, when betting on sports, it is difficult to determine the true probability of an outcome. Casino games are different because you know the statistical likelihood of an event occurring.

For example, the chances of the ball landing on red in European roulette is 48.65% each time. However, as the Monte Carlo example showed, you should not ‘expect’ the ball to land on red 48% or 49% of the time in the next 100 spins. After 1,000,000 spins, the ball should land on red close to 48.65% of the time.

Unfortunately, this information is of little help to you in accurately predicting the next spin. On the plus side, it does prevent you from making the classic mistake of thinking the ball is ‘due’ to land on a certain color or number.

The law of large numbers is also an important consideration for slot gamers. Suppose the RTP of a specific game was just 74% in the last week when the overall average is 96.5%. Does this mean the game is ‘due’ to pay out at a higher rate this week? NO! Eventually, it will have a period of higher RTP to bring up the average, but this scenario may not occur for hundreds of thousands of spins.

So, if you’re in a brick-and-mortar casino and have lost a lot of money on a slot machine, don’t get angry because someone started playing when you left to get change! It is illogical and mathematically inaccurate to believe a win is more likely to happen for them than you. Sure, they might win, but it is a matter of luck, as it always is with games of chance.

Don’t Expect Profit from A Positive Expected Value

The biggest thing you should take from the law of large numbers in sports betting is the necessity of patience. Even if you consistently find value bets, it doesn’t mean you’ll win in the short to medium term. The false belief that achieving a positive expected value (EV) on a wager means earning a profit has disappointed many bettors.

We can go back to the coin toss to elaborate on why you must prepare for losses even when you have the edge over the bookie. The chance of an unbiased coin landing on tails is 50% each time, the equivalent of 2.00 in decimal odds. Let’s say you get odds of 2.10 on tails appearing each time. This wager has the following mathematical edge:

(0.5 x 1.1) – (0.5 x 1)

0.55 – 0.5 = 0.05

You can expect to win 0.05 units for every unit you risk. This equates to an edge of 5%. In betting parlance, this sizable edge will ultimately result in long-term profit. However, you could experience disappointing losses in the short to medium term.

The Law of Large Numbers in Action

Imagine setting your bankroll in a way where one unit is $100. While the expected value of each coin toss is $105, you won’t win that amount after the first toss. You will either be up $110 or down $100. Ultimately, there’s a 50% chance of you losing money after a single coin toss, a risky investment for sure.

The number of possible outcomes increases to three after two tosses of the coin. You can be:

1. Up $220 (The coin landed on tails both times)
2. Down $200 (The coin landed on heads both times)
3. Up $10 (The coin landed on tails once and heads once)

There is a 25% chance of scenario one occurring, a 25% chance of scenario two occurring, and a 50% chance of scenario three happening. At this early stage, the probability of being in a losing position is now 25%, an improvement on the situation after toss #1 but still far too high for any sensible investor.

Less and Less Risky

Fortunately, the risk dwindles the more often you toss the coin. After 1,000 coin tosses, the expected value is $5,000 ($5 x 1,000), but you’re as likely to be below that mark as above it. On the plus side, the chances of being in a losing position at this point are approximately 7%.

Once you get to the 5,000 coin toss mark, there is only a 0.04% chance (decimal odds of 2501.00) of being in a losing position. Moreover, there is a 50% chance of your profit being at least $25,000, which is the expected value ($5 x 5,000). If you’re somehow in a losing position at this point, you are extraordinarily unlucky.

This example shows the benefit of waiting for a large sample size before committing to any specific betting system. After one coin toss, there’s a 50% chance of losing money. After 1,000 coin tosses, this risk drops to 7% and is a miniscule 0.04% after 5,000 tosses.

Incidentally, the reverse is true with bets that have a negative expected value, like red or black, on a roulette wheel. Bettors can, and have, won substantial sums of money in the short term. Perhaps some of our readers have experienced that legendary night when they won $10,000 on roulette!

However, the more you play, the more likely you’ll give the money back to the casino. If you have a great run on the roulette wheel, it is probably best to pocket the money, leave, and steer clear in the future!

You’re Not ‘Fated’ To Win or Lose

If you understand the law of large numbers, you know that there are no ‘guarantees’ of winning OR losing, no matter the odds. You realize that huge degrees of variance are possible in small sample sizes. However, the bigger the sample, the smaller the deviation from the expected value. Eventually, you will get quite close to the true probability of an outcome.

It is also important to avoid common betting mistakes. Traps we sometimes fall into include false syllogisms and confirmation bias. The former is a flawed form of reasoning.

Here’s an example: Michael is an engineer, and engineers enjoy partying, so Michael enjoys partying. An example of a false syllogism in gambling is to suggest that you have won your last five wagers. The last time this happened, you lost, so you will lose again this time. Those who understand the law of large numbers know that each event is unrelated to the last one.

Confirmation bias, on the other hand, involves looking for information that fits an opinion you already hold. Suppose it is game 7 of the NBA finals between the Lakers and the Celtics. You search for game 7 trends to see if one team has an advantage. In reality, there is nothing concrete to favor either team. However, because you’re a Lakers fan, you focus on the trends that point to a Los Angeles victory and ignore anything that suggests a Celtics win.

In the end, learning about the law of large numbers in sports betting can make you a more effective bettor. Through this process, you get a firm grasp on mathematical probability and are better prepared to handle poor betting spells, which are inevitable.

Their trepidation is well-founded because many of those who use crypto betting sites quickly realize that they have no intention of reverting to fiat betting. Experts banned for being too adept at betting gain access to new accounts. High-rollers benefit from higher withdrawal and deposit limits.

Furthermore, all crypto bettors receive a level of anonymity they could only dream of having when they used fiat money. Their respective banks no longer get to control how they spend their money.

All of the above plus points of crypto sites are fairly well-known now. So is the propensity for these sites to match, or even exceed, big-time fiat bookies such as Bet365 in terms of event and market choice.

However, there is a growing belief that crypto betting sites offer better value odds to customers. This article looks into this theory to see if it has any merit. First, let’s investigate odds, including information on what they are and why they vary from one bookmaker to the next.

Betting Odds Explained

When answering the question, “how do betting odds work?” the simplest explanation is to say they are a means of measuring the probability of something happening. As a punter, your goal is to decide whether the odds represent value; then, you wager accordingly.

A betting site has a team of oddsmakers who analyze the details of an event and come up with a price, represented by the odds you see online or in your local bookie. These odds include the bookmaker’s edge, also known as the overround. This edge is very important for reasons we outline later on.

Regarding how to read betting odds, they are usually presented in fractional and decimal form, and a different pricing method is used in North America. Generally speaking, decimal odds are the easiest to use. Calculating them involves dividing the odds into 100 to determine the probability of an outcome in percentage terms.

Suppose a bookie prices Liverpool at 2.50 to beat Manchester City in the English Premier League. Divide 2.50 into 100 (100 / 2.5), and you get 40. This means the odds suggest Liverpool has a 40% chance of winning that soccer match. As a bettor, you use this price as a reference point to decide if you want to bet on Liverpool to win.

Why Do Odds Vary?

It is wise to check odds comparison sites if you have several betting accounts because of the variation in pricing on virtually every sporting event. 

There are various reasons why the odds differ from one bookie to the next. Some are highly complex and beyond the scope of this article. However, we can offer four possible explanations. The following don’t explain every odds differential, but they can account for a reasonable proportion.  

1. A Difference in Opinion Amongst Bookmakers

The simplest reason for different crypto betting sites odds across various betting sites is that oddsmakers don’t always agree. These experts may analyze the details but won’t always come to the same conclusions. 

Larger bookmakers invest far more in their oddsmaker team and can usually develop more accurate prices than their smaller rivals. Also, sites with fewer resources often can’t gain access to as much data as behemoths like Bet365.

2. Following the Money

Once the initial odds are set, they usually don’t last long. The actions of punters will move the line one way or the other. If far more money is bet on Liverpool than Manchester City or a draw in our above example, the bookmaker will have to cut the Merseyside team’s odds and reduce their liability.

In this scenario, the odds on Liverpool may move to 2.20, while City’s odds to win drift from 2.40 to 2.80. At this point, people may start backing City at these longer odds, causing the bookmaker to shift the line once again! Certain bookmakers are quicker at shifting the odds than others. Usually, those ‘left behind’ eventually shift their price after seeing large sums of money placed on an outcome!

3. Competition

There is an extraordinary number of bookmakers online as companies clamor to grab a piece of the pie. With such hot competition, there is a scramble to reduce margins and attract new customers. This process instantly boosts the sports betting odds available to punters.

4. Overround

When looking for the best odds, it is essential to look at all the betting market options. Suppose bookmaker A offers odds of 2.40 for England to beat Germany while bookmaker B prices England at 2.60. You might assume that option B offers the best odds. However, this is only true for one of the three selections in the match-winner market.

Calculating the bookmaker’s overround involves additional calculations. Let’s use a random soccer match available on Stake.com as an example.

Remember, you calculate the probability of an outcome by dividing the decimal odds into 100:

·         100/1.97 = 50.76

·         100/3.35 = 29.85

·         100/3.15 = 31.75

In this case, the margin is 12.36%, which is extremely high. Finding a value bet here is very tough, given the size of the bookmaker’s edge.

Why is the overround so high for this match? It is an under-21 European Championship qualifier unlikely to attract a high volume of bets. You’ll find that the bookmaker’s edge is significantly lower for big events, such as a Champions League soccer match, where a huge amount of money is wagered.

Now, let’s get to the crux of this article; are crypto betting odds better than what their fiat rivals offer?

Are Crypto Betting Sites Odds Better?

The market is still relatively new, so finding historical pricing data is challenging. However, we took the liberty of comparing Stake, one of the best-known crypto sites, with two well-known fiat accepting platforms, Bet365 and William Hill. 

To simplify matters, we stuck with soccer and analyzed three matches likely to attract large amounts of punter money. 

Match 1 – Portugal Versus Spain – UEFA Nations League 

BET365

WILLIAM HILL

STAKE

Match 2 – Arsenal Versus Tottenham Hotspurs – English Premier League

BET365

WILLIAM HILL

STAKE

Match 3 – Inter Milan Versus Barcelona – UEFA Champions League  

BET365

WILLIAM HILL

STAKE

Let’s compare the margins for each game.

As you can see, Stake has the smallest overround of the three bookmakers for all three matches. However, we should point out that the site doesn’t always have the lowest margin. If you go through dozens of games, you’ll likely find that Bet365 and William Hill have a lower edge. For instance, Stake had an edge of over 12% for that youth match.

Nonetheless, it is clear that crypto betting odds are better than their fiat counterparts in many cases.

Crypto Betting Is Growing; Do You Want to Join the Revolution?

With greater anonymity, more deposit/withdrawal methods, and a huge range of betting markets, crypto betting sites look likely to take over. Also, we know now that cryptocurrency betting odds are potentially better than what fiat platforms offer. Once a high enough proportion of bettors realize this, gambling with cryptocurrency will become more legitimized.

However, please remember that crypto betting is NOT the perfect solution. There are still too many scam companies around for comfort; they can take your deposit, shut down your account, and there’s nothing you can do about it. Furthermore, the price of crypto can go down as well as up, hurting your account balance.

Still, the future looks bright for the crypto betting industry, with reputable providers such as Stake (and many others) offering their services to legions of punters.

Also known as tote or pool betting, parimutuel betting is one of the more interesting ways to gamble without involving a bookie. It is mainly used in horse racing, and involves you either taking on or siding with the public when betting on a horse. It is also a betting system where the money wagered by punters goes into a single pool, with the winners paid from the pool.

A Brief History of Parimutuel Betting

While horse racing gambling dates back centuries, pari-mutuel betting wasn’t developed until 1867. The consensus is that a Parisian businessman named Joseph Oiler created it. Parimutuel betting quickly became popular, so much so that France created a national system with branches located off racecourses in 1891.

George Julius, an Australian engineer, invented the totalizer machine in 1913 and helped pari-mutuel betting expand globally. The machine’s output was shown on a tote board, enabling faster calculations. Indeed, this machine helped keep the sport alive in the United States during the temperance movement by ensuring racing stayed legal in certain locations. This is because bettors could get involved in the action without using a bookie.

The Tote, founded in England in 1928, helped bring parimutuel betting to British punters. Today, the Tote remains the world’s biggest pool betting operator and has retail outlets in almost every UK racecourse.

The process of pari-mutuel betting enjoyed another boost in 1931 with the creation of the daily double, the first of a series of “exotic” wagers. Rather than being restricted to a handful of options, bettors can now dream big and potentially win a large sum of money from a small wager.

Today, you have the opportunity to try a pari-mutuel betting strategy on racetracks all over the world.

What Is Pari-Mutuel Betting?

It is a very different form of betting from the standard fixed odds betting most people are used to. This is because it is similar to a stock transaction, as you’re technically buying a share in a horse’s performance when you place a bet. The money wagered by everyone goes into a common pool, and the cash from it is used to pay out winners.

While there is no bookie involvement, the track takes a commission. For example, the Laurel Park racetrack outlines how it splits the parimutuel money. Overall, the public receives 79% of the pool money, with Laurel Park taking 8.79%. Another 9.04% goes to purses, while a handful of other entities within Maryland receive the remaining few percent.

Unlike fixed odds betting, where you know the price, you don’t know the payout until the betting line closes. Payouts depend on how many people bet on an event and how many chose the winner. You could get a much higher or much lower payout than with fixed odds.

You may see the current odds on a screen beside the pari-mutuel betting operator, but those prices continue to change as more wagers are placed.

How Pari-Mutuel Betting Works

You place your wager as you would when using a crypto sportsbook. However, unlike standard betting, you have no idea what odds you will get when you use a pari-mutuel operator.

All the money gets added up, and a certain percentage goes to the track. The public receives what’s left, which is distributed amongst those who made a winning selection. Each winner receives a payout based on how much they risked.

On the surface, a parimutuel betting system may seem complex, but experienced bettors will easily understand the idea. Below, I have included two examples of how it works; one is straightforward, and the other is slightly more complicated with extra mathematics!

Example #1

Suppose there’s a race at Gulfstream involving six runners. You decide to bet $20 on horse #4. It is a low-grade race with relatively little public interest, meaning the pari-mutuel total is rather low. Here is how much was bet on each horse in total:

• Horse #1: $140
• Horse #2: $230
• Horse #3: $100
• Horse #4: $500
• Horse #5: $270
• Horse #6: $180

The total wagered on this race is $1,420, minus 20%, which the track takes and distributes accordingly. Therefore, the total prize pool is $1,136. Next, the pari-mutuel operator divides this sum by the amount wagered on each horse to provide the potential payout for each one:

• Horse #1: $8.11
• Horse #2: $4.94
• Horse #3: $11.36
• Horse #4: $2.27
• Horse #5: $4.21
• Horse #6: $6.31

The above shows how much you would win per $1 staked if you choose the winning horse. In this example, you selected the most favored horse, so your effective winning odds are 2.27 (the total prize pool of $1,136 divided by the $500 bet on horse #4). Since you staked $20, you receive $45.40 if your bet wins.

Example #2

This slightly longer example highlights the changing payouts you can face, particularly in bigger races.

It is a 9-runner race filled with high-quality horses, and about an hour before the race begins, the public has placed $100,000 in the pool. Therefore, there is $80,000 left for punters once the 20% commission is removed.

This is how the money staked per horse and payout look at that point:

You wagered $100 on #1 and feel good about the situation, since the payout is better than the 4.00 odds available at the bookmakers. However, a substantial number of people have the same thought as you and begin betting heavily on horse #1. By the time the pool has stopped taking bets, it has $500,000, with $400,000 ready to be divided amongst bettors.

Unfortunately for you, here is the situation by race time:

Now, instead of getting a $5.71 payout if horse #1 wins, you receive $3.33, which means a return of $333 rather than $571. To make matters worse, the horse’s odds drifted slightly to 4.20 at the bookies!

Types of Parimutuel Bets

Apart from the straight win bet, you can also bet on:

• Place: A horse to finish first or second
• Show: A horse to finish in the top three places
• Each-Way: A bet on a horse to win AND a bet on the horse to place
• Daily Double: Choose the winners of two consecutive races
• Daily Treble: Choose the winners of three consecutive races
• Exacta: Select the first two horses to finish in the correct order; for instance, horse #1 to win and horse #4 to finish second
• Quinella: Pick the first two horses to finish in any order
• Trifecta: Choose the first three horses to finish in the right order
• Superfecta: Select the first four horses to finish in the correct order
• Pick Six: Select the winners of six consecutive races, usually the last six races of the day

 The Benefits of Using a Pari-Mutuel Betting System

• More Options: It is legal in many locations where other forms of gambling are legal. Also, it is generally well-regulated, so bettors don’t have to worry about being ripped off.
• Potential Big Wins: You could theoretically win more than with fixed odds if you know what you’re doing. It is definitely a valid option for skilled contrarian bettors who know when a horse is overpriced in pool betting.
• Suitable for Casual Bettors: It is a fun wager for the non-serious bettor.

The Downsides of a Pari-Mutuel Betting Strategy

• The Value Trap: You have no idea if you’re getting value because you don’t know the payout when you place your bet.
• A Relative Lack of Availability: It is limited to horse racing and greyhound racing, and there are limited online options. In general, you need to attend a race meeting at a track to choose pari-mutuel betting.
• Limited Betting Options: Although several pari-mutuel bets exist, punters have significantly more choices with crypto gambling sites.

Can I Get Value from Parimutuel Betting?

The answer changes from yes to no from one race to the next. You won’t find out the possible payouts until betting closes. In 2019, the Thoroughbred Idea Foundation published an article on weird pari-mutuel payouts and the need for greater transparency.

It highlighted a strange occurrence in the 2019 Derby, which Country House won at odds of 66.00. Yet, even though the favorite came fourth and the second-placed horse had win odds of 15.00, the Superfecta returned $51,400.10, a lower-than-expected amount. In the 2019 Preakness Stakes, the payout was slightly higher at $51,924, although the third favorite won at odds of 6.10, and the fifth favorite finished third at odds of 7.90.

The article argued that while curious payouts can’t be explained by win odds alone, there isn’t nearly enough transparency in pool betting. Certainly, pari-mutuel payouts aren’t always well explained, and bettors have a right to know why a payout is significantly lower (or higher) than expected.

One possible way to get value is to determine whether a high percentage of bets are going on any given horse. There are a few sites offering charts that show this information. In theory, assuming those involved in the pool bet along the lines of the rest of the public, looking for a horse with a chance of winning that isn’t well-backed could result in you earning more from the pool than the bookie.

Also, experienced gamblers believe that only suckers bet in a pool early. It is better to wait until as close to the race as possible before placing your bets. Doing so lets you get as much information on the likely payout as possible, as the pool operator should show the current payouts in real time.  

If you have access to the pari-mutuel information close to the race’s time, compare the odds on your fancy to what is available with online bookies. If the gap is large enough in the pool’s favor, it might be worthwhile to place your bet a minute or two before the event begins.  

Should I Try Pari-Mutuel Betting?

It is worth trying if you visit a racetrack and want some fun. You could get great value if your knowledge tells you that a horse will probably be underbet in a pool. Also, if you live in a jurisdiction that outlaws gambling, you may still get to legally use parimutuel betting.

However, it is not for serious bettors, because there is no way of knowing how often you’ll receive value for your wager. You don’t know the payout when you place your bet, which will likely change drastically as race time approaches. Therefore, if you want consistent value from your wagers, it is best to line-shop on the best crypto sportsbooks.

What Is Wisdom of the Crowd? 

Wisdom of the crowd is not exactly a new phenomenon. Although, the internet age has brought it to the spotlight thanks to services like Quora and Reddit. To sum it up, wisdom of the crowd refers a collective opinion of a large group of people, instead of individual experts. 

An example could be asking a hundred people for their prediction of who will win the next World Cup. Then using this info to make your bet, instead of relying on the opinion of one football expert. 

Aristotle was the first known man to write about the wisdom of the crowd in his book Politics. He stated that men who are not good as individuals might become better when they group up to make a decision. Another good example may be a dinner setting, where many contributors can create a more impressive feast than just one man could. 

It has been proven that often crowd estimates are superior to those of a single member of a group. This is especially true when calculating quantities. When thinking about the crowd’s opinion in a betting context, it’s a question of who’s going to win.  

Are Betting Odds Determined by the Wisdom Of The Crowd? 

You might be wondering “are betting odds  determined by the wisdom of the crowd?” However, the answer is not that simple. There are several factors affecting the odds of any given bookmaker, and the crowd’s behavior is one of those things. 

Now, a fair word of warning: you should be careful not to put too much weight on the wisdom of the crowd in terms of forming the odds. Every betting site will adjust the odds accordingly when enough people bet on a specific outcome. But that does not necessarily mean that the likelihood of a certain participant winning is affected. 

Let’s take an example. Say there’s a basketball match tonight between the Los Angeles Lakers and the Houston Rockets. Lakers are the favorite to win the match. However, in the afternoon rumors start to spread on social media that the team’s number one star, LeBron James, is injured and might not play. 

More people start betting on the Rockets to win, and the bookies lower the odds accordingly. But the odds don’t change, as the rumor has not been confirmed. 

The bookies will change the odds, as they are constantly trying to make a profit, regardless of the outcome. This is also one example of how the wisdom of the crowds turns into the foolishness of a herd. 

Wisdom of the Crowd – Football Betting Examples 

There are some famous examples where the wisdom of the crowd in football betting has resulted in a not-so-impressive outcome. One such example involves the case of Harry Redknapp. In 2012, Fabio Cappello resigned from the English national team. 

Quickly after the resignation, media reports started to pop up predicting Harry Redknapp as the next England coach. Punters got all excited, and many bet on Redknapp to be the next one to take the job. However, this wasn’t based on any tactical thinking. It was just gamblers taking the general opinion and running with it.  

But in the end, it was Roy Hodgson who got the job.  

Another example of the wisdom of crowd football betting is the 2018 World Cup. Many predicted Germany as top contenders for the title, having lifted the trophy four years earlier in Brazil. 

However, what the crowd failed to take into account was that some key players weren’t in the team. In addition to that, Germany had a fairly difficult group, with Sweden, South Korea, and Mexico to beat. 

Swarms of punters trusted the crowd’s opinion. They bet on Germany to win the title or get through to the next round, only to see Die Mannschaft exit the tournament after three matches. 

When To Trust the Wisdom Of The Crowd 

There is certainly some truth to trusting the opinion of the masses. However, as these examples show, nothing can be 100% guaranteed. When it comes to betting, the tricky part is knowing when to trust the wisdom of the crowd and when to rely on individual experts , as well as your own gut.

Before you stake real money based on the collective opinion, make sure that unsubstantiated rumors don’t affect the wager. There can be wisdom in the crowds, but be careful, as the situation can also prove the exact opposite.