When placing a bet, the player transfers money to the betting company. If the player correctly predicts the outcome, the betting company transfers them their winnings. If they do not, the betting company keeps the amount bet. Total winnings depend on the odds.
What are odds and how are they formed?
Odds are a reflection of an event's probability. The higher the probability, the lower the odds. Decimal odds are the most common. They appear as a fraction with two integers after the decimal place: 2.00. 1.52, 3.04. To calculate winnings, multiply the bet amount by the odds. To find the net earnings, subtract the amount bet from the total winnings.
In addition to decimal odds, betting companies also use other formats, such
as British, American, and Hong Kong odds. Check out our
each format
as British, American, and Hong Kong odds. Check out our
Odds
article for more information oneach format
.
The odds are formed by betting company analytical departments based on the probability of the event. Analysts use all the available information to form odds, for example, the status of players, previous match results, the weather, match schedule, motivation, and rumours.
What is a margin?
Margin is the commission incorporated into odds. Margin is what keeps betting companies in the black even with the same number of winning and losing bets.
The higher the margin, the lower the odds and winnings.
Odds are lowered based on the margin. For example, an event has two equally likely outcomes with odds of 2.00. The betting company adds a margin of 5%, and the odds drop to 1.90. If a player places EUR 1,000 on each outcome, then they end up losing EUR 100.
Check out our
Margin
article for more information about our margin calculation rules.
Can you earn money from betting?
Yes, if you follow the rules and do not place impulsive bets. Check out our betting advice article
7 tips for sports betting beginners
for more on the advice we provide here.
Fonbet offers bets on more than 20 different sports, so choose the one you know the most about.
Each sport has certain indicators that can help predict the outcome of the upcoming match. Before placing a bet, look at how the participants played their last games, the results of recent head-to-head matches, and the condition of the team/athlete. In team sports, the outcome of a match is also influenced by the venue, as teams tend to perform better at home than away.
Manage your bank
Your bank is the amount of money in your account. Bank management involves the use of strategies to help distribute money across more bets and reduce the risk of going bankrupt. There are three common bank management strategies:
- Fixed bet, where the player breaks their bank down into parts and uses each part as a bet. The more parts, the less chances they have of ending up in the red.
- Fixed profit, where the player sets each bet amount such that the winnings are the same every time. This strategy helps by changing bet amounts based on odds, where the higher they are, the less money is bet.
- Flat, where each bet is equal to a pre-determined percent of a player's bank. For example, if a player wants to bet 1% of their bank, then with EUR 100,000 on their account the bet amount will be equal to EUR 1,000 (or EUR 500 if the bank is EUR 50,000).
Check out our
article for more information of the pros and cons of different bank management strategies.
Take advantage of promos
We give away free bets and risk-free bets as part of promos. Players can use them to place bets without risking their own money. To make sure you never miss any helpful promotions, check out our Promotions
section.
Use betting strategies
Players have developed optimal strategies in all sports to help increase the chance of winning or recouping money after a loss. Check out our
section for more about the most popular strategies.
How is betting regulated around the world?
Betting is legal in most countries and is regulated at the legislative level. Special laws determine the rules for accepting bets and paying out winnings, the age of bet participants, and deductions from betting company profits to the budget.
Betting companies without licences do not pay tax, and their customers are not protected by law. Illegal betting companies are most often registered in an offshore zone,they can leave the market at any time, block an account or refuse to pay winnings without suffering any consequences.
Where did betting come from?
Betting on the outcome of events has been popular since antiquity. Ancient peoples bet on gladiator battles, horse races and athletic competitions. These bets were completely unregulated, and people placed them among themselves, with any person with authority acting as guarantor.
The first betting law was passed in ancient Rome in the third century BC. It prohibited bets on everything except athletic competitions
The first bookmakers appeared in 18th-century England. They developed a prototype of horse racing odds, where the more often a horse won, the less it won. In 1850, Leviathan Davis and Fred Swindell opened the first bookmaker company. They were also the first to advertise betting by printing upcoming events and odds on leaflets and distributing them all over London.
Littlewoods began accepting the first bets remotely in 1923. Back then, people could place bets by post. In 1996, German betting company Intertops accepted the first bet online from user Jukka Honkovaar, who bet USD 50 on the outcome of the match between Tottenham and Hereford.