A bet is a great gamble, you either win it or lose it. Most of the people think, betting is a way of trying luck, it is however untrue. Betting can be much more than sheer luck. A bet can be a well thought of and a calculated risk that a player takes in any game or an event. The professional bettors know how to bet and also what to put at stake given the circumstances.
There are different strategies that can be undertaken and implemented by players depending on their stake, the kind of risk they are taking and of course on the outcome of the event. An event with more outcomes like a bet on a number on roulette or a horse racing has a high risk while a bet like the one on the colour red or black on roulette or which football team will win, have only two outcomes and hence lesser risk.
There are different ways in which a player can bet, one of the ways is the ‘ bet per way’. The bet per way is an interesting way to bet on a game. The origin of the bet per way can be traced back a few years. This type of wager is popular in the UK. In the UK, bookmakers indulge in the bet per way in which they place the wager on two separate bets. In this kind of bet, the bettor wagers twice. The two wagers are typical-
- On the selection winning.
- On different selection placing.
The bettor yields good money when the bet that he has placed on the selection to win comes first. The two bets can be placed with different agenda, the first bet that is the selection winning bet is placed to win while the bet on selection placing is done on placing. The selection placing bet is done mostly in sports such as horse racing or greyhound racing.
The selection of winning is self-explanatory but the place selection is mostly a term that the professionals well versed with. The place selection of bet works in fractions. The odds are in fractions like one fifth, a quarter or half. During the settlement, the returns on the bet on the selection are calculated in decimals.
As this type of a bet includes two wagers, the total bet that the player makes is split into two. Or to put it in a different way, the player’s bet is twice as that on the single bet. It means that, in a bet per way, if a player places a bet worth $20, it would mean that $10 has been placed on winning a bet and $10 has been placed on selection placing.
Consider the example: In a football tournament, if a player wagers on winning of a team, the odds of winning are 15/2, and on selection placing, the odds are one third for placing first or second. When a player wagers $50, the total bet becomes of 100 because of the nature of the bet. The winning part of the wager will fetch the player $50*15/2 = $425. The placing part of the bet would yield the player will be calculated as $50* 2.5 = $175. Thus, the total winning amount would be $600. Thus, if in the game, a bettor has bet on a team’s win, the bettor would yield $600. On the other hand, if the team loses, the bettor will still get $125 if the team enters semifinals.