Bookmakers - how do they work?
Bookmakers offer different types of bets on sports, political and cultural events. But with some online bookmakers you can also bet on the weather, for example. The selection of bets is really wide and you can bet on pretty much everything. For example, you can bet on as many as 20 areas on a single sports match.
Types of odds
Odds are the basis of betting. They determine how much you can win for your bet. There are different odds formats that are popular in different regions of the world. Each format expresses the chances of winning a little differently.
1. American odds (Moneyline odds)
US odds are displayed with either a positive (+) or negative (-) sign. The negative number shows how much you have to bet to win 100 units, while the positive number shows how much you win if you bet 100 units.
Example:
- Baltimore Ravens (-200): You bet 200 units to win 100 units.
- Pittsburgh Steelers (+180): You bet 100 units to win 180 units.
2. British fractional odds
These odds are popular in the UK and Ireland. They are expressed in fractions and show how much you can win relative to your bet.
Example:
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Odds of 6/1 mean that if you bet 1 unit, you could win 6 units, plus you would get your original bet back, so the total return would be 7 units.
3. European decimal odds
This format is most popular in Europe, Canada, Australia and New Zealand. The odds are expressed as a decimal number which represents the total amount you will receive for each unit wagered.
Example:
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Odds of 1.5 mean that for every unit wagered you will receive 1.5 units back, i.e. 0.5 units as profit plus your original bet.
The most popular types of bets
The most popular and easiest bets are those on the winner of the match. However, these are not often successful and you can hardly base your betting strategy on these bets.
Asian Handicap
The Asian handicap is popular in football and provides a "handicap" to one team, which evens the odds of both teams. This type of odds is more complex and offers bettors the chance to win, lose or even get part of their bet back.
Example:
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Pittsburgh Steelers +1.5: If the Steelers lose by less than 1.5 points, your bet wins. If they lose by more, you lose.
Over/Under bets
This type of bet focuses on the total points (or scores, runs, etc.) in the game, regardless of who wins or loses.
Example:
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Over 46.5 points in a game: you bet on the total score to be higher than 46.5. If the score is lower, you lose the bet.
How to choose a bookmaker?
Many factors play a role in choosing a bookmaker and it depends on the preferences of each bettor. On our website, you can find the right bookmaker for you very easily using the filters. In addition, when you click on a bookmaker, you will see its review, in which you can find out all the detailed information. What can you choose?
Bonuses at bookmakers
Bonuses offered by bookmakers are a key tool for attracting new players and retaining existing ones. Here is a detailed overview of the different types of bonuses and the usual conditions associated with them:
1. No Deposit Bonuses
No deposit bonuses allow players to receive a bonus without having to make a deposit. These are often small amounts applicable to certain games or bets. This allows the player to try out the bookmaker without using their own funds.
No deposit bonuses are often part of the welcome offer for new players.This type of bonus usually requires the player to meet certain wagering requirements before they can withdraw any winnings. It may also contain restrictions on the types of games or bets that the bonus can be used on. .
2. Deposit bonuses
Depositbonuses require players to make a deposit into their account. The bookmaker will then pay the player a bonus equal to a percentage of the deposit made.
These bonuses often have a set minimum deposit and a maximum value of how much a player can earn. The bonus may be limited to certain types of bets and there is often a wagering requirement before any winnings can be withdrawn.
3. Cashback bonuses
Cashback bonuses return to players a portion of their losses over a certain period of time (most often a week). These bonuses are usually expressed as a percentage of the bets lost and are aimed at mitigating losses. Usually, these bonuses are limited to certain amounts and have a cap on how much a player can receive in total as cashback. They often only apply to certain types of bets or games.
4. Free bet bonuses
Free bet bonuses allow players to bet without the risk of losing their money. The bookmaker provides a free bet that the player can use on certain bets. They are often part of welcome offers or loyalty rewards for existing players.
Free bets can be tied to certain events or bet types. Winnings from free bets usually have to be wagered several times before they can be withdrawn.
Payment methods and currencies
You can also choose the ideal bookmaker based on the payment method and currency in which you want to make deposits and withdrawals.
Bookmakers offer a really large selection of payment methods. Of course, you can pay by card or transfer money from your bank account. For added security, you can use online wallets(Ecopayz, Skrill), use prepaid coupons(Paysafecard), or use cryptocurrencies(Bitcoin, Ethereum, USD Coin, etc.).
The range of payment methods is very wide and so are the accepted currencies. However, it always depends on the specific bookmaker. However, everyone can find the right bookmaker in our comparator.
Language
You can also choose a bookmaker according to the language of the website. For most online bookmakers, English, German, Spanish, Portuguese and Arabic are commonplace . However, other European and international languages are also available, the choice of which is up to the individual bookmaker.
Licence
You can filter the bookmakers by where they are licensed.
1. Curacao
Curacao is a popular jurisdiction for online sportsbooks due to the relatively quick and affordable process of obtaining a license. In order to obtain a license, you must:
- Establish a company in Curacao.
- Provide proof of financial eligibility.
- Comply with local and international anti-money laundering regulations.
- Have all games and systems regularly tested for fairness and security.
- Maintain all player data on servers located in Curacao.
2. Malta
Malta is considered one of the most prestigious jurisdictions for online betting due to its large regulatory framework. The Malta Gaming Authority (MGA) requires:
- A detailed business plan.
- Proof of financial stability.
- Detailed background of owners and operators.
- Systems to ensure player protection and responsible gaming.
- Technical auditing of gaming systems and security measures.
3. Isle of Man
TheIsle of Man offers attractive conditions for bookmakers, including low taxes and a strong regulatory environment. In order to obtain a licence, the following is required:
- Establish a company on the Isle of Man.
- Prove the integrity and transparency of the owners.
- Ensure protection of player deposits.
- Carry out independent testing of gaming systems.
- Monitor and report suspicious betting activity.
4. Gibraltar
Gibraltar is another popular destination for bookmakers due to its stable political situation and favourable tax regime. Licensing requirements include:
- A detailed business and financial plan.
- Proof of past conduct and experience of owners and key employees.
- Ensuring compliance with data protection regulations.
- Audited accounts and regular financial reports.
- Money laundering and fraud prevention plans.
5. Saint Kitts and Nevis
This small Caribbean country offers online betting licenses with minimal requirements, which attracts many smaller operators. Requirements include:
- Company registration in Saint Kitts and Nevis.
- Low initial licensing fees.
- A flexible regulatory framework, but with an emphasis on compliance with international standards.
- Ability to operate global betting operations with minimal restrictions.
