Every sports fan has certainly heard of betting on the Internet. But how exactly does sports betting work? We have compiled a small guide for beginners below. At the same time, we show you the first steps from registration to deposit to bet and payout of winnings.
The basis for sports betting – bookmaker vs. customer
The betting portals on the Internet are operated by the bookmakers, which are more or less on one side. The providers offer their tips by providing the possible sports events with a corresponding betting odds. These offers are calculated based on the probabilities of the outcome. The customers can now accept these offers by placing a bet on this offer or reject it by simply leaving the odds to the left.
Sports betting is always a competition between bookmaker and customer, whereby the sports betting provider is in the clearly better starting position. He sets the rules and odds. At the same time, the betting odds already include the profit margin. Users always have to overcome these obstacles before they can start winning – or rather, customers start with a small handicap. Many still think that a betting provider cares who wins or who loses. This is not so. The odds are automatically balanced. A good bookmaker has a balanced sportsbook. For each bet, a bookmaker calculates between 3% and 8% margin. It does not matter who wins or loses.
The first steps – here’s how
Before the first bets can be placed, the customer must of course register with the bookmaker of his choice. The procedures are usually similar. Simply proceed in the following steps:
- Call up the registration form on the homepage. Usually this is possible via the buttons “Register now” or “Registration”.
- Fill in your data truthfully and then confirm the terms and conditions. It is really important that you work with honest data. False data will come to light at the latest before the first withdrawal of winnings.
- As a rule, you must now confirm the verification link in the welcome email and you are already a customer of the online betting provider.
The registration is generally free of charge and does not entail any obligations. The best bookmakers will forward you to the cashier menu immediately after the registration process. If this is not the case, you have to log in again with your data and then click on either “Deposit”, “Cashier” or “Banking”. The next step is as follows:
Select your preferred payment method from the transfer methods.
Enter your desired amount
Complete the payment details, for example by entering your credit card number. With e-wallets, you will be redirected directly to the website of the financial provider to confirm and complete the deposit.
The game amount is immediately available for you to use with almost all payment methods, unless you have opted for the classic bank transfer – then it takes a few days.
The actual betting process – just as easy
How does the actual sports betting work? Bookmakers usually work with very simple and intuitive software solutions. Customers are guided through the betting offer in a buttery smooth and self-explanatory way. In most cases, betting is completed with just a few clicks. You can select the desired event by clicking on the following link in the center of the screen:
The desired odds are transferred to the betting slip with one click, which usually opens on the right edge of the screen. If you want to place a combination bet, you can move each betting odds one by one into the ticket.
The bookmakers show you the possible bet types in the betting slip – i.e. solo, combination or system. Enter the amount of the bet in one of the provided fields. You will automatically be shown the possible maximum winnings, and often the deduction of the betting tax. If you are satisfied with your selection, send the betting ticket. In case of success, the winnings will be automatically credited to your betting account.
The payout – this is to be considered
The sports betting payout works easily, but there are some specifics to keep in mind. No reputable bookmaker will pay out the money unless the identity of the customer is clearly established. Before the first withdrawal of winnings, there is always a legitimation check. This requires a photo ID (ID card, passport, driver’s license) and a recent address confirmation (utility bill, registration confirmation). In individual cases, the online betting providers may request further documents such as a copy of the credit card or a bank statement. Our recommendation: If you don’t want to waste any time, send these so-called KYC documents to customer support shortly after registration.
As a rule, only transfer methods that have already been used for a deposit may be used. If this is not technically possible, for example in the case of direct booking systems or prepaid methods, the withdrawal must always be made by bank transfer. The exact rules for withdrawing winnings vary somewhat between bookies. For example, some providers generally only pay out via bank transfer. It is also important that the target account is always the property of the player. Withdrawals in favor of third parties are generally prohibited, even if they are family members. In addition, some bookmakers have monthly maximum limits. Higher winnings are sometimes paid in installments.